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U.S. Crypto Lobbyists Flooding the Zone, But Are There Too Many?

Crypto’s moment has seemingly arrived in Washington, D.C., and the industry is trying to make the most of it. But as new organizations hatch and leadership shifts at the top advocacy operations, the field of pro-crypto groups trying to carry the torch is more crowded than ever.
No fewer than a dozen groups — including the Digital Chamber, Blockchain Association and Crypto Council for Innovation — are seeking to steer digital assets policies in the U.S., some of them substantially overlapping in their membership bases, funding sources and in the goals they’re seeking to accomplish.
Most of the leaders of those groups told CoinDesk they have a more-the-merrier view on pushing for friendly policy from President Donald Trump’s highly receptive administration and from Congress, which is increasingly loaded with industry allies.
«Many of the objectives are consistent across these groups,» said Miller Whitehouse-Levine, who recently left the DeFi Education Fund to launch the new Solana Policy Institute. «That’s a good thing, because I think there’s an absolute torrent of legislative and regulatory work that’s going on right now, and we need all the help we could get.»
Congress is chasing several crypto bills, including legislation to set boundaries for crypto markets, oversee stablecoin issuers, curtail digital assets in illicit financing, call for proof of reserves at crypto firms and set up government digital reserves. «We would have 100 more groups and 10,000 more people working on these issues in an ideal world,» Whitehouse-Levine added.
But other current and former policy advocates privately grant that the field is getting packed and that it can be difficult to justify so many entities pulling for the same cause with the same finite universe of congressional staff, White House offices and regulatory officials. In the recent past, groups have talked about reorganization and consolidation, according to people familiar with the discussions, though such efforts haven’t been executed.
Meanwhile, new organizations have hung their shingles in recent weeks, including Whitehouse-Levine’s SPI and the National Cryptocurrency Association, further increasing the ranks. That’s often how the numbers have grown in Washington: A company or lobbyist who feels some specific interest isn’t properly represented and can figure out how to pay for it. And big crypto firms have also set up their own D.C. operations, pushing for their more highly tailored interests.
New leaders
Cody Carbone is still just days into his leadership of the Digital Chamber — the oldest and largest crypto membership group. The Chamber and virtually every other major digital assets organization has lost or swapped leaders in the opening months of this year — many of them in the past few weeks.
He said he understands why so many are suddenly keen on showing up in Washington to take advantage of the turn in crypto sentiment, and he sees this crowded field of U.S. groups as a net positive when there is so much work to go around getting complex legislation done.
«At some point, there could be too many cooks in the kitchen,» he said. «But I think that’s a problem for a later day.»
Sheila Warren, who recently stepped away as the chief of CCI, said «there’s definitely room for differentiation» in crypto’s growing army of boosters, but she said a united front — in whatever form — is key.
«I think it’s really about coming together and recognizing that we all pretty much want the same things,» she said.
Not all of the groups share the same agendas. Some focus on narrow areas of the industry, and a few are more oriented toward research or serving crypto users rather than companies. Their ranks include Coin Center, Satoshi Action Fund, Bitcoin Policy Institute, Government Blockchain Association and Bitcoin Mining Council. Ripple started the new NCA with an astounding $50 million commitment, and it’s meant to be one of those more interested in the people who use and invest in crypto than the industry players.
Politics
On the raw, political edge of advocacy, the industry — especially U.S. exchange Coinbase — has entered the arena. Coinbase set up Stand With Crypto in an effort to jump-start a grass-roots-style crypto movement. That message-of-the-people strategy was bolstered by the extremely well-funded political action committee Fairshake and the dark-money influence arm, Cedar Innovation Foundation.
Fairshake spent more than a hundred million dollars to put friendly lawmakers into congressional seats last year, and the industry is already seeing big, bipartisan support in the early days of the new session. One point of evidence: The Democrats came out in force to join Republicans in killing an Internal Revenue Service rule that could have made existence-threatening demands on decentralized finance (DeFi) projects.
«I think it’s a huge benefit that we have so many organizations dedicated to trying to achieve regulatory clarity for digital assets,» said Amanda Tuminelli, who stepped up to run the DeFi Education Fund when Whitehouse-Levine left. «I think it’s been really needed, especially in the past few years, and when we work together, we actually accomplish great outcomes. For example, the IRS broker rule on DeFi.»
As it tackles those major questions on tax, government crypto reserves, the structure of the markets and regulations of stablecoins, the crypto lobbying space is leaping into a new chapter. That transition is made even more stark with the sudden and dramatic shuffle of leadership.
Kristin Smith, who was the chief of one of the leading groups, left the Blockchain Association to go work for former underling Whitehouse-Levine as president of his new Solana organization. So the association is left shopping for a new CEO. Meanwhile, the founder and longtime leader of the Digital Chamber, Perianne Boring, exited that job for unpaid work leading the board, and the founder of crypto think tank Coin Center similarly departed.
In Warren’s absence at CCI, Ji Kim — the group’s former general counsel and head of global policy — told CoinDesk he remains «laser-focused on ensuring that CCI continues to be the leading, substantive and global voice for our members on key policy issues.» When asked about the potential of organization mergers, he said he had «nothing to say» on that point.
The lobbyists and advocates have routinely come together on letters, events and papers pushing their common aims.
Carbone said there’s «definitely friendliness and conversations between us,» though he said there «needs to be more collaboration.»
However, the groups have practical needs for funding and members, and they’re driven to secure members who can sometimes only afford to join one or two of them.
«There’s obviously a competitiveness angle to this as well,» Carbone acknowledged. «It would be naive to say there’s not, so there’s a race sometimes.»
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Cardano’s ADA Leads Majors Slide Amid Bitcoin Profit-Taking; ProShares Amends XRP ETF

Bitcoin (BTC) and other major tokens lost more than 3% as Tuesday’s rally was met with profit-taking during Asian morning hours Wednesday — in line with expectations.
Overall crypto market capitalization fell 3.3% in the past 24 hours, with BTC sliding to nearly $83,500 from a high above $84,200 a day earlier. Ether (ETH) and Cardano’s ADA fell as much as 5% to lead losses among majors.
XRP showed steady declines, with price action suggesting a plunge in the coming days. Fundamentals showed a positive bump, however, with exchange-traded fund (ETF) provider ProShares amending its spot XRP ETF (to be offered in the U.S.) filing on Tuesday — targeting a launch date of April 30.
Bitcoin selling by large investors has eased as they realize losses, on-chain analysis firm CryptoQuant shared in a note to CoinDesk. Daily bitcoin selling from large investors has declined from a high of 800,000 BTC in late February to a daily rate of about 300,000 BTC.
“The slowdown in selling has come as these investors have been realizing losses since late February amid low prices,” analysts wrote. “However, accumulation by large investors remains weak. Their holdings declined by approximately 30K BTC over the past week, and their monthly accumulation rate dropped from 2.7% at the end of March to just 0.5%—its slowest pace since February 20.”
A slump in majors came as Chinese stocks in Hong Kong extended their losses to as much as 2.9% after Wednesday’s open despite the Chinese economy growing 5.4% in the first quarter.
The extent of tariff impact remains a concern among traders, whose risk-off moves eventually weigh down crypto markets.
«There can be no doubt that fears of a U.S. recession are intensifying, with major institutions revising their forecasts sharply upwards,” James Toledano, Chief Operating Officer at Unity Wallet, told CoinDesk in an email. “Economic growth is forecast to stall at anywhere between 0.1% and 1%, and many believe these risks are already priced into equities, but I am not so sure that we’ve even seen the bottom.”
“It does however feel that Bitcoin’s appeal as a decentralized asset grows, especially as traditional markets face volatility. While Trump’s policies have introduced significant macroeconomic uncertainty, they may paradoxically be fueling Bitcoin’s recent rise—though the risks remain elevated for all markets, crypto included,” Toledano added.
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XRP Charts ‘Rising Wedge’ To Signal Price Plunge: Technical Analysis

Payments-focused XRP’s immediate prospects look bleak, with its price chart flashing a «rising wedge» breakdown.
A rising wedge comprises two converging trendlines that connect higher lows and higher highs. This convergence suggests that upward momentum is weakening. When the price moves below the lower trendline, it signals a shift to a bearish trend.
XRP dived out of its rising wedge pattern during Wednesday’s early Asian hours, suggesting that the attempted recovery from the April 7 lows near $1.60 has likely lost momentum, allowing sellers to regain control.
According to technical analysis theory, analysts should identify the starting point of the rising wedge as the initial support level following the breakdown, which means XRP can now fall back to $1.60. The cryptocurrency has also fallen below the Ichimoku Cloud, a momentum indicator, on the hourly chart, reinforcing the bearish outlook indicated by the rising wedge breakdown.
Tuesday’s high of $2.18 is the level for bulls to beat to invalidate the bearish outlook.
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Noble’s New ‘AppLayer’ Lets Developers Build Stablecoin Tools on Celestia

Noble, a blockchain for issuing real-world assets (RWA) and stablecoins, announced Wednesday that it will expand its platform by introducing “AppLayer,” an Ethereum-compatible rollup that allows developers to create their own RWA applications and infrastructure.
Noble’s AppLayer aims to let developers build new financial tools optimized for real-world assets like stablecoins — digital assets whose value is pegged to another asset, like the U.S. dollar.
AppLayer will leverage Celestia, a data availability blockchain that aims to bring down storage costs for data-intensive blockchain networks. Celestia, like Noble, is plugged into the Cosmos blockchain ecosystem and is compatible with the Ethereum Virtual Machine (EVM), meaning it can read smart contracts from other Ethereum-based chains.
The Noble team stated in a press release viewed by CoinDesk that it will launch its Ethereum-compatible AppLayer rollup in the third quarter of 2025.
“Noble plans to unlock its cross-ecosystem potential as EVM applications continue to seek reliable and seamless access to native stablecoin liquidity,” the team wrote. “Noble’s AppLayer will be seamlessly integrated with a number of blue chip DeFi projects born in the Ethereum ecosystem.”
Stablecoins have received considerable attention in recent weeks, with the U.S. Congress preparing significant stablecoin legislation later this year. Entities including President Trump’s World-Liberty Financial, banking giant Fidelity, and the U.S. state of Wyoming have also expressed plans to create their own stablecoins.
Noble launched in March 2023 as an application-specific blockchain, or «appchain,» purpose-built for stablecoin issuance within the Cosmos ecosystem. Initially, it aimed to expand liquidity Cosmos by enabling native asset issuance through the Inter-Blockchain Communication (IBC) protocol, which is the technology used by Cosmos-based blockchains to transfer assets and other data.
Over time, Noble has extended its reach beyond Cosmos, integrating with Ethereum and other ecosystems to facilitate quick stablecoin transfers. Additionally, in March, Noble introduced USDN, a yield-bearing stablecoin backed by U.S. Treasury bills.
“Building stablecoin issuance infrastructure over the past two years has given us a deep appreciation for the transformative potential of stablecoins to onboard the world to crypto,” said Jelena Djuric, co-founder and CEO at Noble, in the press release. “The Noble AppLayer, built with Celestia’s technology underneath, finally gives builders the freedom to build highly scalable and performant stablecoin-native applications.”
Read more: How a Ph.D. Student’s Research Paper Turned Celestia Into $345M Blockchain Project Overnight
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