Uk Jin

Strike CEO Says Wall Street Is No Threat to Bitcoin

Wall Street’s growing role in the Bitcoin market poses only a limited threat to the cryptocurrency, Strike CEO Jack Mallers said. Mallers made the remarks on a recent episode of the “What Bitcoin Did” podcast, Cointelegraph reported on May 9. “If Wal

Ethereum DeFi Market Share Falls to 54%, Near Record Low

Ethereum's share of the decentralized finance market has fallen by nearly 10 percentage points since the start of the year, bringing it close to a record low. CryptoSlate, citing DefiLlama data, reported on May 7 that Ethereum now accounts for about

Sahara AI Builds AI Agent System for Motherson Group With $14.5 Billion in Annual Revenue

Sahara AI, an artificial intelligence agent infrastructure company, said May 8 that it built an autonomous AI agent system with global manufacturer Motherson Group to support engineering work. The system, called Industrial Design Agent, is a multimod

XRP New Addresses Tumble 85% as Price Slump Points to Lack of Fresh Buyers

XRP’s weak price performance appears to reflect a lack of new investors, according to blockchain analytics firm Glassnode. Glassnode wrote on X on May 7 that the number of newly created addresses on the XRP network had dropped to about 2,700 a day fr

Polygon Cuts Block Time to 1.75 Seconds in First Network Upgrade Since Launch

Polygon (POL) has shortened its block generation time for the first time since the network launched. Cointelegraph reported on May 7 that Polygon implemented a network upgrade that reduced block time to 1.75 seconds from 2 seconds. The change gives t

Sui Targets Fee-Free Transfers This Year in Push Into AI Agent Payments

Sui, a layer-1 blockchain network, plans to roll out a fee-free remittance system this year as it pushes to build a global payments network. Adeniyi Abiodun, Sui's chief product officer, told The Block that the company wants to make Sui the foundatio

BlackRock Says Bitcoin Can Diversify Portfolios as Correlation With Traditional Assets Stays Low

BlackRock, the world’s largest asset manager, has recommended Bitcoin as a portfolio diversification tool for clients. In a report released on May 7, BlackRock said digital assets including Bitcoin show low correlation with traditional stocks and bon

TD Cowen Raises Strategy Price Target to $395, Citing Better Bitcoin Yield Outlook

TD Cowen raised its price target on Strategy, citing a favorable view of the company's Bitcoin accumulation strategy. The Block reported on May 7 that TD Cowen lifted its target to $395 from $385. The bank said Strategy's accelerated issuance of its

US Weekly Jobless Claims Total 200,000, Below Forecast

US initial jobless claims came in below market expectations last week. The Labor Department said on May 7 that initial jobless claims totaled 200,000 last week. That was 5,000 below economists’ forecast of 205,000 and up 11,000 from the prior week’s

Kraken Operator Payward to Acquire Stablecoin Infrastructure Firm Riff for $600 Million

Payward Inc., the operator of US crypto exchange Kraken, is acquiring stablecoin payments infrastructure company Riff Technologies. Payward Co-Chief Executive Officer Arjun Sethi told Bloomberg on May 7 that the company will buy Riff in a deal combin

VanEck Says Bitcoin to Reach $1 Million Within Five Years

VanEck offered a bullish outlook for Bitcoin. Cointelegraph reported on May 7 that Matthew Sigel, the asset manager’s head of digital assets research, said in an interview that he expects Bitcoin to reach $1 million within the next five years. Sigel

US Probes $2.6 Billion of Suspicious Oil Shorts Placed Before Trump Iran Announcements

US authorities are investigating large crude-oil short positions placed just before key announcements by President Donald Trump related to Iran, ABC News reported on May 7. The Justice Department and the Commodity Futures Trading Commission are exami

BNY Mellon Buys 101,810 More Strategy Shares, Lifting Stake to 1 Million

BNY Mellon has sharply increased its investment in Strategy, the largest corporate holder of Bitcoin. BitcoinTreasuries.net said on May 7 that BNY Mellon recently disclosed the purchase of an additional 101,810 Strategy shares. The purchase was worth

ZachXBT Targets LAB After 12-Fold Surge, Alleges Founder Manipulated Price

On-chain investigator ZachXBT has criticized LAB, a cryptocurrency project that has surged sharply in recent weeks. In a post on X on May 7, ZachXBT said LAB's founder "says all the right things publicly" while participating in market manipulation on

Nexxus Reports First-Quarter Revenue of $8.4 Million, Up 76%

Nexxus reported consolidated first-quarter revenue of 11.6 billion won ($8.4 million), up 76% from a year earlier, the company said on May 7. Operating profit totaled 132 million won ($95,700). Net loss for the period was 3.04 billion won ($2.2 milli

Coinbase Launches Perpetual Gold, Silver Futures With 24/7 Trading

Coinbase Global Inc., the largest cryptocurrency exchange in the US, has launched gold and silver derivatives. In a post on its official blog on May 6, Coinbase said it introduced perpetual futures linked to gold and silver for eligible traders outsi

Alchemy Pay Launches Alchemy Chain Mainnet for Stablecoin Payments

Alchemy Pay, a global cryptocurrency payments company, has launched its own mainnet. Binance News reported on May 7 that Alchemy Pay officially launched the Alchemy Chain mainnet, a network optimized for stablecoin payments. Alchemy Chain is designed

Bitcoin Tops $80,000, With $85,000 Emerging as Next Key Hurdle

Bitcoin (BTC) has maintained its upward momentum after breaking above the key psychological resistance level of $80,000, with $85,000 emerging as the next major hurdle, according to Glassnode. In a report published May 6, the on-chain analytics firm

Bitcoin Falls Below $81,000

South Korea Brings Crypto Firms Under Foreign-Exchange Oversight After Assembly Passes Revision

Virtual-asset businesses will be brought under South Korea's foreign-exchange monitoring regime. The National Assembly on May 7 passed a revision to the Foreign Exchange Transactions Act in a plenary session, with 212 votes in favor and one abstentio

Core Scientific Reports $347.2 Million First-Quarter Net Loss Despite Revenue Growth

Core Scientific shares fell sharply in after-hours trading after the Bitcoin miner reported a steep first-quarter net loss despite higher revenue. The Block reported on May 7 that Core Scientific posted total revenue of $115.2 million in its first-qu

Quantum Threat to Blockchain Security Spurs Call for Ownership-Proof System

Concerns are growing that advances in quantum computing could render blockchain cryptography ineffective, underscoring the need for safeguards that would allow users to quickly prove ownership when assets are stolen. Near One, the research and develo

Trump Family-Backed American Bitcoin Buys 300 More BTC

American Bitcoin, a Bitcoin mining company backed by US President Donald Trump’s family, has bought more Bitcoin. BitcoinTreasuries.net wrote on X on May 7 that ABTC had added 300 BTC. That brings ABTC’s total Bitcoin holdings to 7,300 BTC. The compa

Retail Investors Lift Kospi to Record Close at 7,490.05

Retail investors' 5.991 trillion won in net buying reverses losses South Korea’s Kospi closed at another record high on May 7 after swinging between gains and losses during the session. Retail investors bought a net 5.991 trillion won, helping push t

1inch Says TrustedVolumes Hack Had No Impact on Its Systems or User Funds

DeFi platform 1inch said a hacking incident involving liquidity provider TrustedVolumes on May 7 was unrelated to its systems, infrastructure or user funds. In a post on X the same day, 1inch said claims that reports about the TrustedVolumes hack wer

US, Iran Discuss Gradual Reopening of Strait of Hormuz, Al Arabiya Reports

Ships stranded in the Strait of Hormuz may be able to leave the waterway within hours. Saudi outlet Al Arabiya reported on May 7, citing sources, that the US and Iran are discussing a gradual reopening of the Strait of Hormuz and measures to ease the

Trump Family-Backed ABTC Cuts Q1 Bitcoin Mining Cost 23% to $36,200, Posts $81.8 Million Net Loss

American Bitcoin Corp., the Bitcoin miner backed by the family of US President Donald Trump, cut its mining costs sharply in the first quarter. CoinDesk reported on May 7, citing company filings, that ABTC's cost to mine one Bitcoin fell to about $36

Institutions Want Traditional Finance Clarity, Not Complex DeFi, for Bitcoin-Backed Lending

Bitcoin-backed lending needs to adopt structures familiar to traditional finance to win broader institutional adoption, CoinDesk reported on May 7. Industry executives at Consensus 2026 in Miami said institutional investors favor lending and custody

Aptos Commits $50 Million to Expand AI Financial Infrastructure

Blockchain infrastructure company Aptos said May 7 that it will invest $50 million to expand artificial intelligence-based financial infrastructure. The Aptos Foundation and Aptos Labs plan to use the funding to invest in companies focused on AI and

UAE to Introduce Instant Conversion System Between Dirham, Dollar Stablecoins

The United Arab Emirates will introduce a real-time conversion system between stablecoins pegged to the dirham and the U.S. dollar, a move aimed at improving payment convenience for institutional investors and maximizing cash management efficiency. A