XRP Rally Stalls Amid SEC Chair Paul Atkins’ Push to End Ad Hoc Enforcement

By: crypto news flash|2025/05/13 23:45:05

Ripple briefly hit $2.65 yesterday after news broke of a breakthrough in the ongoing U.S.-China trade dispute. Although the rally cooled off, settling around $2.55, the move gave crypto investors a strong boost of confidence.Yesterday, Crypto News Flash reported about a surprising turn of events: the U.S. and China agreed to scale back the aggressive tariffs that defined Donald Trump’s trade policy. Under the new agreement, U.S. tariffs will drop from a painful 145% to just 30%, while China slashes its retaliatory rates from 125% to 10%. That kind of de-escalation doesn’t happen every day, and it rippled across global markets instantly, especially in the crypto market.Among the top-performing digital currencies was Ripple (XRP), which saw a notable jump in value. Now the fourth-largest cryptocurrency by market cap of $ 48 billion, XRP surged following the trade deal and other favorable developments.After trading at around $2.12 last week, XRP climbed by 21.58% over the past seven days, briefly touching $2.65 before dipping slightly to $2.55. While analysts had expected the rally to be even stronger, predicting a climb to $3, XRP’s performance still defied expectations.Meanwhile, Ethereum (ETH) surged past $2,300.Bitcoin (BTC) approached its all-time high of $109,000.Blockchain analyst Ali Martinez commented on the technicals, noting, “On-chain data shows XRP has no major resistance clusters ahead, while the key support zone to watch sits at $2.38.” That said, the sudden spike did trigger over $35 million in liquidations, according to CoinGlass, a reminder that crypto remains a wild ride. SEC: Paul Atkins’ TurnoverXRP’s rally isn’t just about market momentum; it also comes at a time of major regulatory changes. After years of legal back-and-forth with the U.S. Securities and Exchange Commission (SEC), Ripple finally reached a settlement, as reported by Crypto News Flash. The SEC agreed to reduce the originally proposed $125 million penalty to $50 million.This coincides with a leadership shake-up at the SEC. Paul Atkins, a former SEC Commissioner during President George W. Bush’s administration, was sworn in as the 34th Chair of the SEC, replacing Gary Gensler, whose tenure was criticized for being unfriendly to crypto innovation.During Monday’s roundtable “Tokenization: Moving Assets Onchain,” he laid out his plan to focus on three key areas: Issuance, which involves the creation and distribution of digital tokens, custody, referring to the secure storage and protection of crypto assets, and trading. His message was clear: “We’re aiming for rational regulation that keeps innovation on U.S. soil and keeps scammers out.”Perhaps the most eye-catching part of his remarks? He floated the idea of exemptive relief, regulatory flexibility for projects that don’t fit perfectly into old frameworks but are clearly trying to do things the right way. That could be a game-changer for blockchain startups and might finally give XRP some breathing room.Atkins promised a more structured and rational framework for the industry. “A key priority of my chairmanship will be to develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road... while continuing to discourage bad actors,” he said.

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.

Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.

Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps

Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.

The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position

The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.

Social-Native Trading: Strategy and Execution Completed in the Same Context

Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying

On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.

By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.

Referral Mechanism: Non-institutional users can receive up to 60% fee split

Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings

This model aims to drive user-driven network expansion and organic growth.

Self-Custody Architecture and Built-in Privacy Mechanism

Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:

· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure

The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.

A New Path for On-Chain Derivatives

Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.

The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.

Regulatory Background

Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.

This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."

The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.

About Mixin

Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.

Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication

Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.

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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.