The AI and crypto industries have made headlines over the past year thanks to the impressive war chests amassed by corporate political action committees (PACs).

Profligate spending during the last federal elections in the US has led to unprecedented policy changes favoring the crypto industry, with indications that a full legislative framework in the form of the CLARITY Act is on its way to becoming law. 

But this hasn’t endeared the crypto industry to voters. Recent polls from Politico show distrust of the crypto industry, and the electorate isn’t sold on the benefits of AI.

“Voters across the ideological spectrum are raising concerns,” Michael Beckel, director of money in politics reform at Issue One, told Cointelegraph. “Some candidates on both sides of the aisle are trying to harness that frustration and outrage.”

Voters don’t trust crypto and don’t believe AI benefits them

According to the recent poll by Public First for Politico, most Americans don’t trust crypto and don’t believe in the benefits of AI. 

Source: Politico

While Republican voters are somewhat more likely to trust crypto, 47% of Americans overall trust a traditional bank over a crypto platform, while 17% trust a crypto platform as much as a traditional bank. 

The numbers for AI aren’t great either. Some 43% of Americans overall believe that the risks outweigh the benefits, while 33% believe the inverse. 

Source: Politico

Related: Crypto PACs secure massive war chests ahead of US midterms

Currently, most people haven’t heard about the major crypto and AI lobbies. According to Politico, only nine percent have heard of AI Super PAC Leading the Future. Only three percent have heard of pro-crypto PAC Fairshake.

That’s not much compared to public awareness of large lobbies like the National Rifle Association or the Planned Parenthood Action Fund, which are practically household names.

Still, association with crypto could be a problem. Ohio Republican Representative Jim Renacci told Politico, “I do think if they see somebody is backed by crypto, that’s always going to be a problem, because, let’s face it, the people that I talk to in Ohio, they don’t understand crypto, and most say they’re not comfortable with [it].”

Improving awareness around crypto lobbies may not help them much. Rick Claypool, research director at Public Citizen, told Cointelegraph:

“Generally speaking, voters are against corporate money influencing politics.”

“Even after Citizens United, the norm had been for big, brand-name corporations not to engage directly. Or when they did engage, they would often contribute through dark money groups that obscure their funding source.”

In this regard, the crypto industry’s spending spree in 2024 was somewhat unusual. Major contributors like Coinbase or a16z weren’t shy about the millions of dollars they put into campaigns.

But even then, “the voter-facing message from Fairshake was never about crypto, which voters never really cared about.” Mailers and ad buys reflected the supported candidates’ positions more broadly, or sometimes attacked those of the perceived anti-crypto candidate. 

Overall, “candidates who are seen as not beholden to corporate interests have an electoral edge,” said Claypool. This was true for populist candidates like US Senator Bernie Sanders and even US President Donald Trump, who claimed during his 2016 campaign that “he was so rich he could not be bought, which is laughable in hindsight.” 

If awareness about crypto — and crypto’s concerted efforts to influence policy — increases among the electorate, it may not shake out well. 

Issue One’s Beckel said, “If voters view an industry as toxic, that can have serious implications for candidates who don’t want to be perceived as too close to a controversial company or industry.”

Grassroots organize against AI, crypto gets its day in Washington

Voter dissatisfaction with a certain industry has translated into real action. 

Beckel noted a recent example when voter attitudes about the oil and fossil fuel lobby were enough to get some Democratic candidates to swear off any contributions. Beckel said that some organizations are already urging lawmakers to forswear any contributions from AI lobbies.

Indeed, there has been a grassroots movement growing against the AI industry more directly, namely the construction of the highly expensive and resource-intensive data centers. Local movements in seven states have blocked or delayed over $64 billion in data center investment. One state, Maine, is poised to introduce a state-wide ban.

Municipalities in California, Oregon, Arizona, Texas, Missouri, Indiana and Virginia have banned or delayed projects. Source: Data Center Watch

According to Claypool, this could prove a great opportunity for Congressional candidates “to seize the grassroots momentum against data centers and Big Tech for Democrats in particular, but not exclusively, since the tech sector has so fully enmeshed itself with the Trump administration.”

This increasing partisan alignment could also affect how voters perceive these industries. 

Jason Thielman, former executive director of the National Republican Senatorial Committee, said that the crypto industry has attempted to “maintain a degree of bipartisanship and identify people whom they think will be champions on these issues.”

But even as the lobby claims to be bipartisan — Coinbase CEO Brian Armstrong called crypto “the most bipartisan issue” in DC — its priorities like deregulation and withdrawn enforcement lean mostly, but not exclusively, Republican, said Claypool.

Claypool said that “crypto billionaires have tried to present themselves as scrappy underdogs against Wall Street.”

“But that’s a less compelling argument now that crypto allies run, in addition to the White House, the DOJ, SEC, CFTC, the Treasury Dept., and the Commerce Dept.”

Furthermore, the sector has become deeply tied to Trump himself after the president’s full embrace of the industry in 2024, as well as pardons for convicted crypto execs and his use of crypto for his own personal enrichment. 

With Trump’s popularity sliding due to geopolitical bungles, an unpredictable economic outlook and controversial policies at home, having ties to him and his party may carry political risk.

In a Democratic Illinois Senate primary, Illinois Lieutenant Governor Juliana Stratton accused her opponent Representative Raja Krishnamoorthi of being backed by big money from “MAGA-backed crypto bros.” She won by seven points. 

It could also influence future policymaking. Said Beckel, “If an industry is viewed as a friend of one party and enemy of another, it may be more likely to be in the crosshairs or under the microscope when the other party is in power.”

For crypto and AI, that moment may come as soon as Nov. 4.

Magazine: XRP ‘probably going to $12,’ Bitcoin ETFs add $1B: Market Moves

Payments firm Corpay (CPAY) add stablecoin wallets and settlement capabilities for its global corporate customers alongside BVNK to give companies another way to move money across borders outside traditional banking hours.

Teaming up with BVNK will allow Corpay clients to see stablecoin balances alongside fiat balances inside its platform, while allowing them to send, receive, store and convert stablecoins through embedded wallets.

Corpay said it will use the same stablecoin rails in its treasury operations. It expects to reduce reliance on pre-funded accounts, improve capital efficiency and make it easier to move funds across its global footprint doing so.

The firm has also added blockchain-based settlement to its cross-border payments platform through JPMorgan’s Kinexys private blockchain and BVNK’s stablecoin infrastructure. The company said the rails would be used across select corridors.

Those additions sit alongside SWIFT, Corpay’s proprietary iACH network and real-time local payment schemes. The new BVNK wallet integration brings that stablecoin functionality closer to customers.

BVNK has become one of the main firms helping payment companies add stablecoin rails. Mastercard agreed in March to buy BVNK for up to $1.8 billion, while Visa teamed up with BVNK earlier this year to support stablecoin funding and payouts through Visa Direct.

Other payment firms are taking a similar route. Stripe has been building stablecoin payments through Bridge, while Worldpay has used BVNK to offer stablecoin payouts to global businesses.

The use case is mostly operational. Stablecoins give payment firms another settlement option for liquidity movement, treasury management and cross-border transfers outside banking hours.

Stablecoin payments remain a small part of global money movement, but a growing one. Data from Visa shows that over the past 30 days, over $1.2 trillion in stablecoin transaction volume, up from $733 billion a year ago.

All of a sudden, Bitcoin’s peer-to-peer communication layer for full nodes, known as its gossip channel, found four times more addresses than it did a month ago. Jameson Lopp has questioned whether somebody might be spinning up nodes for a sybil attack.

Lopp posted a concerning chart from a live network monitor on Sunday, flagging a sharp spike to 250,000 unique IP and IP-like addresses per day, after spending the prior eight years below 65,000.

The chart, maintained by a research group of the Karlsruher Institut für Technologie in Germany, tracks daily unique addresses via unsolicited ADDR messages. 

ADDR and its variants, short for “address,” is a type of peer-to-peer message that Bitcoin nodes broadcast randomly to gossip about IP or IP-like addresses of full nodes with which they have established contact.

Messages sent via ADDR assist nodes with peer discovery. After connecting to a few initial nodes, new nodes during their early moments of entering the Bitcoin network randomly receive ADDR messages on an unsolicited basis, quickly learning about additional nodes.

Establishing a robust mesh empowers nodes to more efficiently broadcast and receive Bitcoin transactions and blocks.

For over eight years, the German researcher’s monitoring system found daily unique IP addresses in unsolicited ADDR messages ranging between roughly 30,000-60,000. Starting in mid-April 2026, however, it diverged sharply to the upside, reaching roughly 250,000 by early May.

A flood of new Bitcoin IP addresses 

Innocuous interpretations of the data involve simple housekeeping or a sudden increase in legitimate network participation.

On the other hand, a hostile interpretation flagged preparation for a communication-based attack on Bitcoin nodes.

Lopp’s framing questioned the latter, naming the famous sybil attack as a possibility, i.e. tricking a reputation system by creating multiple, sockpuppet identities.

An eclipse attack is also a possible threat. Boston University researchers demonstrated in 2015, for example, that a Bitcoin node attacker who fills a victim’s IP address table with their own IP addresses could hijack that victim’s connections after a network restart.

Temporarily, an attacker could then feed the eclipsed node a doctored view of the blockchain. 

To discourage this type of attack, Bitcoin Core software has tightened address-table bucketing and added ADDR rate limits. Still, no decentralized network is entirely impervious to all types of sybil attacks.

Sudden growth in Bitcoin ADDRs

Another possible explanation for the sudden spike in unique addresses could be surveillance. 

As Protos previously documented, an entity dubbed LinkingLion spent years opening short connections to Bitcoin nodes from 812 IP addresses, possibly to record which IP first relayed each transaction for the purposes of downstream blockchain analytics. 

A flood of bogus peer entries could provide useful cover for that kind of mapping work. 

Moreover, anyone may start any number of Bitcoin nodes for any reason, at any time, permissionlessly. As a voluntary and open source network, there is no requirement to explain the starting or stopping of nodes, nor ADDR messages.

Nodes may also, without explanation, rotate their IP addresses at any time.

The American Bankers Association (ABA) is mounting an aggressive lobbying push against portions of the Senate’s Digital Asset Market Clarity Act ahead of a scheduled Banking Committee markup on Thursday, warning lawmakers that stablecoin provisions in the updated bill could still undermine bank deposits and weaken financial stability.

In a call-to-arms circulated to bank executives nationwide, the ABA petitioned banks and their employees over the weekend to contact senators immediately to push for tighter restrictions on payment stablecoins in the crypto market structure bill. The group said the latest version of the legislation — after months of bank lobbying, meetings and input — still leaves room for crypto firms to offer interest-like rewards that may encourage consumers to move money out of traditional bank accounts.

The Senate Banking Committee is expected to release updated legislative text as soon as Monday, with comments and amendments from lawmakers likely to emerge Tuesday before Thursday’s committee vote on the Clarity Act.

“We need your help to drive this message home before senators consider this legislation,” ABA president Rob Nichols said in the request.

The ABA’s campaign follows a joint letter sent last week with other banking trade associations that outlined proposed edits to the bill. The groups argued lawmakers need to close what they describe as a loophole around stablecoin yield before advancing the legislation.

The dispute has become one of the defining battles in Washington’s crypto policy debate. Bank executives and trade groups have argued that yield-bearing stablecoins could function as substitutes for insured deposits, draining funding that banks rely on to make mortgages, business loans and other forms of credit.

Supporters of stablecoins, including many crypto firms and fintech companies, argue the products offer consumers faster payments and new ways to move money online. Critics in the crypto industry say banks are trying to preserve their dominance by limiting how digital dollar products compete for users.

“The banking cartel is in full panic mode,” U.S. Senator Bernie Moreno, an Ohio Republican who has been staunchly pro-crypto, posted on social media site X.

The fight previously delayed legislative progress, and lawmakers eventually negotiated a compromise that would prohibit stablecoin yield resembling deposit interest while allowing activity-based rewards programs similar to credit-card points. Even after those changes, major banking groups have continued pressing Congress for stricter guardrails.

While the White House Council of Economic Advisers had released an analysis on stablecoins that suggested their deployment wouldn’t damage the banking system, ABA economists answered with their own study in April. The banking group argued the administration focused on the wrong policy question by analyzing the effects of banning stablecoin yield rather than the consequences of allowing it. According to the ABA, permitting yield-bearing stablecoins could rapidly scale the market from roughly $300 billion today to as much as $2 trillion, increasing pressure on bank funding.

The longer negotiations drag on, lawmakers and industry participants warn, the harder it may become to move comprehensive crypto legislation through the Senate and onto the floor for a final vote. About 10 weeks of Senate floor time remain before the midterm elections, according to the current Senate calendar, and there are a lot of competing interests for that legislative bandwidth.

UPDATE (May 11, 2026, 14:55 UTC): Adds response from Senator Bernie Moreno.

Key takeaways

• XRP slipped below $1.50 as renewed Middle East tensions weakened broader crypto sentiment.
• XRP investment products saw nearly $40 million in inflows last week, while futures open interest climbed to $2.87 billion.

XRP tests key $1.45 support despite strong ETF and futures inflows

Ripple’s XRP retreated from highs near $1.50 and hovered around $1.46 on Monday as renewed geopolitical tensions in the Middle East pressured broader crypto markets and cooled recent bullish momentum.

The pullback followed comments from US President Donald Trump, who reportedly rejected Iran’s latest proposal aimed at ending the ongoing conflict in the region, calling the offer “totally unacceptable.” 

The proposal included conditions tied to Iran’s sovereignty over the Strait of Hormuz alongside demands for compensation related to war damages.

Iranian Foreign Ministry spokesperson Esmail Baghaei defended the proposal, describing it as “reasonable” and “generous” for both Iran’s national interests and regional stability.

The renewed uncertainty rattled risk assets, including cryptocurrencies, which had recently rallied on hopes of a lasting ceasefire agreement between the US and Iran. XRP is up by less than 1% today as traders reassessed the broader macro outlook.

Despite the market weakness, capital inflows into XRP investment products remained resilient last week.

According to CoinShares, XRP-related digital investment products attracted nearly $40 million in inflows, with total assets under management averaging $2.5 billion, ranking fourth among crypto investment products.

Spot XRP exchange-traded funds (ETFs) accounted for approximately $34 million of those inflows, while cumulative ETF inflows climbed to $1.32 billion. Net ETF assets under management currently stand at around $1.12 billion, according to CoinGlass data.

Meanwhile, derivatives activity suggests retail traders continue positioning for further upside. XRP futures Open Interest (OI) surged to $2.95 billion from $2.65 billion a day earlier, indicating growing participation and investor conviction despite the recent pullback.

XRP technical outlook: bulls defend key EMA support zone

The XRP/USD 4-hour chart remains bullish as Ripple continues to trade above key levels. XRP is currently trading above the 50, 100, and 200 Exponential Moving Averages (EMAs) on the 4-hour chart clustered between $1.40 and $1.42, reinforcing a constructive short-term bias.

However, the $1.50 area remains a major resistance barrier after acting as a double-top ceiling during the recent rally.

Momentum indicators suggest bullish momentum is cooling rather than reversing entirely. The Relative Strength Index (RSI) remains in the high-50s, while the Money Flow Index (MFI) has eased from overbought territory, signaling a pause in buying pressure.

If the selloff persists, XRP could encounter a support level near the 50 EMA around $1.42, followed by stronger support around the 100 EMA at $1.41 and the 200 EMA near $1.40.

However, if the bulls regain control and XRP’s daily candle closes above the $1.50 resistance zone, it could pave the way for a more extended bullish move in the sessions ahead.

Key takeaways

• Solana surged nearly 15% last week as spot SOL ETFs attracted $39.23 million in inflows — the strongest since January. 
• Solana surged nearly 15% last week as spot SOL ETFs attracted $39.23 million in inflows — the strongest since January. 

Solana (SOL) is trading just above $95 on Monday after rallying nearly 15% over the past week, with bullish momentum supported by strong institutional demand, improving on-chain activity, and rising derivatives participation.

Institutional demand pushes SOL above $90

Institutional appetite for Solana strengthened sharply last week, with spot Solana Exchange Traded Funds (ETFs) recording net inflows of $39.23 million, according to CoinGlass data. 

The figure marked the strongest weekly inflow since mid-January, signaling renewed investor confidence in the asset. Continued inflows could provide additional upside support for SOL in the near term.

On-chain and derivatives metrics also point to a constructive outlook. CryptoQuant data indicates cooling conditions across both spot and futures markets while showing buy-side dominance in futures activity — a combination that often precedes further upside. 

Although several metrics remain neutral, overall sentiment has improved considerably compared to previous weeks.

In the derivatives market, Solana’s funding rates turned positive on Sunday before climbing to 0.0067% on Monday, showing that long traders are now paying shorts to maintain positions. 

Historically, similar flips from negative to positive funding rates have coincided with strong upward price moves for SOL.

Open Interest (OI) in Solana futures has also surged. CoinGlass data shows total OI rising to $6.46 billion on Monday from $4.83 billion on May 5. 

The steady increase since early May suggests fresh capital continues to enter the market, reinforcing bullish momentum and signaling growing trader participation.

Solana technical forecast: Bulls target the $100 psychological level

The SOL/USD 4-hour chart is bullish thanks to Solana’s recent rally. SOL is now trading above both the 100-day Exponential Moving Average (EMA) at $93.87 and the 50-day EMA at $87.51, strengthening the bullish case.

Momentum indicators also remain supportive. The Relative Strength Index (RSI) sits at 69, reflecting strong but not yet overextended momentum.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator remains firmly positive and continues to rise.

If the rally persists, immediate resistance is seen near the 38.2% Fibonacci retracement level at $98.53. 

A daily candle close above this resistance could open the door toward the $108.12–$110.62 range, where the 50% retracement level and the 200-day EMA converge. 

Additional resistance levels stand near $117.71 and $120.00, while an extended rally could target the 78.6% retracement level around $131.35.

However, if the market undergoes a correction, immediate support sits near the former channel resistance around $92.11, followed by the 100-day EMA at $93.87 and the 50-day EMA at $87.52. 

Losing these levels could expose the support near $86.67, while deeper pullbacks could revisit the channel floor around $77.12 and the broader cycle low area near $67.50.