Crypto Industry News & Market Trends

Gold holds steady below $4,700 as traders eye US jobs report, potential US-Iran peace deal

Finance　　Gold holds steady below $4,700 as traders eye US jobs report, potential US-Iran peace deal　　Gold price (XAU/USD) holds steady near $4,685 during the early Asian session on Friday. Traders prefer to wait on the sidelines ahead of the key US employment data for April, which is due later in the day.　　Economists expect a gain of 62,000 jobs for April, while the Unemployment Rate is projected to remain steady at 4.3%. This report might dictate the Federal Reserves (Fed) next move regarding interest rates. Any signs of improvement in the US labor market could lift the US Dollar (USD) and weigh on the USD-denominated commodity price in the near term.　　On the other hand, optimism over a US-Iran peace deal has led to a sharp drop in oil prices and eased concerns over inflation. The US President Donald Trump administration has been waiting for Iran to respond to its proposal to reopen the Strait of Hormuz and end the war.　　Iran‘s leaders haven’t indicated whether they‘ll accept the terms of the deal, though they’ve previously shown little sign of yielding on their nuclear program and accepting a moratorium on enriching uranium.

05-08Industry

US military attacks Iranian sites but says it does not seek escalation

Finance　　US military attacks Iranian sites but says it does not seek escalation　　US Central Command said Thursday that US forces targeted Iranian military facilities responsible for launching attacks against warships transiting the Strait of Hormuz, CNN reported.　　The military stated that US forces do “not seek escalation.” Meanwhile, US President Donald Trump said on Truth Social that US forces destroyed Iranian attackers and warned, “We‘ll knock them out a lot harder and a lot more violently” if Iran doesn’t sign a deal soon.　　According to a Centcom statement, Irans attack on three US warships involved “multiple missiles, drones and small boats,” adding that “no US assets were struck.”　　Market reaction　　At the time of writing, the West Texas Intermediate (WTI) is down 0.65% on the day at $93.65.

05-08Industry

Eric Trump’s Miner American Bitcoin Tops 7,300 BTC

Bitcoin　　Eric Trumps Miner American Bitcoin Tops 7,300 BTCAmerican Bitcoin increased its Bitcoin holdings to more than 7,300 BTC valued at about $592 million.The company produced 817 Bitcoin in Q1 2026, marking its strongest quarterly output to date.American Bitcoin also purchased around 803 Bitcoin during the quarter to expand reserves.Total Bitcoin reserves grew by roughly 1,600 BTC in a single quarter.Satoshis per share rose to about 663, reflecting a 20% increase.　　American Bitcoin Corp. expanded its Bitcoin reserves beyond 7,300 BTC after a record production quarter. The Nasdaq-listed miner valued its holdings at about $592 million. Co-founder Eric Trump confirmed the figures and said the company maintained its accumulation strategy.　　American Bitcoin Expands Holdings and Production　　American Bitcoin began building its Bitcoin position in mid-2025 and accelerated purchases in early 2026. The company now ranks as the 16th largest corporate Bitcoin holder. Eric Trump said, “Our Bitcoin accumulation strategy remained intact despite a challenging market environment.”　　During Q1 2026, the company produced about 817 Bitcoin, its strongest quarterly output. It also acquired around 803 Bitcoin through targeted purchases. Total reserves grew by roughly 1,600 Bitcoin during the quarter.　　The company reported that Bitcoin price declined about 22% quarter over quarter. Despite weaker prices, American Bitcoin continued

05-08Industry

Algorand DeFi Tops $95M TVL as Analyst Outlines ALGO Price

Circle‘s USDC dominates that market. It accounts for 98% of stablecoin activity within Algorand’s DeFi ecosystem.　　ALGO Valuation Scenarios Draw Market Focus　　In an X post, analyst Finance Bull outlined ALGO valuation scenarios based on market capitalization and circulating supply. Using an estimated circulating supply of about 8.9 billion ALGO, he presented several price levels.　　Under a $10 billion market cap, ALGO would stand near $1.12. At $50 billion, the price would be around $5.62, while an $80 billion valuation would place it near $8.99.　　For a $1 trillion market cap, the implied price would be about $112 per ALGO. He clarified that these figures are not predictions but supply-based scenarios. An analyst said Algorands fundamentals remain key to assessing which market cap range ALGO could support.　　Analyst Points to Regulation, Quantum Security, and Adoption　　The analyst pointed to regulatory status, quantum security, tokenized assets, and wider platform access. According to his post, the SEC and CFTC classified ALGO as a digital commodity in April 2026.　　According to the analyst, Google‘s Quantum AI team referenced Algorand 32 times in a whitepaper related to post-quantum cryptography. The mentions highlighted Algorand’s work in quantum-resistant blockchain security.　　Algorand also completed a quantum-safe transaction on mainnet using NIST-approved Falcon signatures. The post

05-08Industry

Coinbase Reports 8.6% Record Market Share and $200 Million Derivatives Revenue

remained a major focus in the quarter. Coinbase reported that average USDC held in its products reached about $19 billion, equal to more than one-quarter of circulating USDC. Base, the companys layer-2 network, accounted for 62% of global on-chain transaction , exceeding all other chains combined.　　Coinbase also highlighted growth in payment tools. Its x402 protocol handled more than 100 million payments, and USDC was used in nearly all of them, at more than 99%. The firm added that Base was responsible for more than 90% of on-chain agentic stablecoin transaction volume, positioning the network as a leading venue for that emerging use case.　　Alesia Haas, Chief Financial Officer, said:　　“Were growing new revenue streams, with 12 product lines each generating over $100 million annualized, and prediction markets on their way to becoming the 13th.”　　On the financial side, Coinbase posted $303.3 million in Adjusted EBITDA, while net loss came in at $394.1 million for Q1 2026. Management added that the company has now recorded positive Adjusted EBITDA for 13 consecutive quarters and native unit inflows for 12 straight quarters. Coinbase continues to frame its long-term strategy around widening access to crypto products, settlement infrastructure, and global digital payments.

05-08Industry

CLARITY Act Draft Circulates Ahead of Potential Senate Vote, Report

Tech　　CLARITY Act Draft Circulates Ahead of Potential Senate Vote, Report　　The Senate Banking Committee is reportedly moving closer to action on the CLARITY Act, with a markup notice possible on May 8. Journalist Eleanor Terrett reported that draft legislative text has circulated to select industry members before a potential vote on Thursday. The language remains under review, with additional edits expected from Democratic offices.　　Industry sources who reviewed the draft described the overall response as positive, though unresolved bracketed sections remain a concern. Those areas involve provisions some participants had previously viewed as settled. The draft circulation comes as lawmakers, advocates, and industry executives push for a federal digital asset framework. Terrett said:　　“The Senate Banking Committee is preparing to notice a markup for the CLARITY Act as soon as tomorrow and has circulated draft legislative text to select industry members ahead of a potential Thursday vote.”　　Yield Deal Leaves Ethics Clause in Focus　　After passing the House in July 2025, the Digital Asset Market Clarity Act has faced months of Senate Banking Committee deadlock. Pressure increased this week after Patrick Witt, executive director of the Presidents Council of Advisors for Digital Assets, said the White House wants passage by July 4. The target adds

05-08Industry

Toncoin faces $103M token unlock - Will it derail TON’s price rally?

Tech　　Toncoin faces $103M token unlock – Will it derail TONs price rally？　　Toncoin [TON] has emerged as one of the strongest performers in the latest market rebound. At press time, the asset gained nearly 19% in the past 24 hours as investor sentiment improved alongside a series of network upgrades aimed at boosting blockchain efficiency.　　The rally has coincided with rising on-chain activity, stronger liquidity flows, and renewed user participation across the Toncoin ecosystem. However, despite the improving fundamentals, the sustainability of the uptrend may still depend on how the market absorbs the projects upcoming monthly token unlock.　　Network upgrades strengthen TON fundamentals　　TON‘s latest momentum follows improvements to the network’s core infrastructure, particularly transaction finality. According to data shared by , the blockchain now ranks among the fastest Layer-1 networks in transaction finality, processing transactions in roughly 0.6 seconds.　　The development forms part of the ecosystems broader “Make TON Great Again (MTONGA)” initiative, which focuses on improving network performance and user accessibility.　　Source: X　　Earlier upgrades also reduced transaction fees by nearly six times to around 0.00039 TON, or roughly $0.0005, while the network continues working toward gas-free transactions.　　TON‘s ties with Telegram also remain central to its expansion strategy. The messaging platform is expected to deepen

05-08Industry

Trusted Volumes Confirms $6.7M DeFi Resolver Exploit

In an X post, 1inch said reports linking it directly to the TrustedVolumes exploit were “misleading,” adding that “neither 1inch nor any of the 1inch protocols are involved.” The platform said there was “no impact on 1inch systems, infrastructure or user funds.”　　1inch co-founder Sergej Kunz also said TrustedVolumes operates independently and is not exclusive to 1inch. “While it is true that 1inch uses TrustedVolumes as a resolver, we are one of many,” Kunz said.　　Kunz said the framing of the exploit as a 1inch-related incident was “confusing and harmful,” adding that 1inch is monitoring the situation with security partners and will assist where appropriate.　　Security researcher Vladimir Sobolev, known as Officers Notes on X, also told Cointelegraph there was “no risk for 1inch users,” adding that the exploit was related only to TrustedVolumes.　　Sobolev said the exploit points to broader weaknesses in crypto security practices, where vulnerabilities can quickly produce immediate losses.　　“We lack security in general. Blockchains just tend to have an immediate payoff,” Sobolev told Cointelegraph. “We need to pay more attention to kill switches, monitoring, circuit breakers, etc.”　　Both Blockaid and Sobolev noted that the attack was carried out by the same operator responsible for the March 2025 1inch Fusion V1 resolver

05-08Industry

Tether Launches Compact Edge AI for Medical Reasoning Models

Tech　　Tether Launches Compact Edge AI for Medical Reasoning ModelsTether launches compact MedPsy AI models that run locally, reducing reliance on cloud systems.New MedPsy models show strong benchmark results while focusing on privacy and faster medical reasoning.Edge-based AI design aims to cut costs, improve speed, and support hospitals handling sensitive data.　　Tether has released new medical AI models that can run directly on phones, laptops, and local servers without relying on cloud systems. The companys AI research team introduced QVAC MedPsy in 1.7 billion and 4 billion parameter versions, designed to handle medical reasoning tasks while keeping all data on the device.　　In an official release, the firm said that the models mainly target hospitals, clinics, and developers that need faster processing and tighter control over patient information.　　Tether said the models compete with larger cloud-based systems in medical tests despite their smaller size. It also stated that the 1.7B version outperforms several mid-sized competitors in clinical benchmarks. In addition, the 4B model records stronger results than some much larger systems in selected medical evaluations.　　Edge AI Breakthrough in Medical Reasoning　　Tether designed the MedPsy models to run directly on edge devices without relying on cloud infrastructure. The company said this setup reduces delays and improves

05-08Industry

GameStop (GME) Stock Slides Following Ryan Cohen’s Audacious $56B eBay Takeover Bid

GameStop Corp., GME　　The proposal places eBay‘s valuation at $125 per share—representing nearly a 20% premium over pre-announcement trading levels. Market reaction proved tepid, with eBay shares climbing only about 6% to approximately $110. This substantial spread between the offer and actual trading price reveals deep market doubts about the transaction’s prospects.　　GameStop, the gaming merchandise chain with an $11-12 billion market capitalization, is attempting to purchase a business roughly four times its own size. The financial arithmetic is, without question, extraordinarily ambitious.　　Cohens financing blueprint involves approximately $9.4 billion in cash reserves, $9 billion in GameStop equity, and no less than $20 billion in fresh debt—supported by a financing pledge from TD Securities. Additionally, GameStop strategically accumulated a 5% equity position in eBay before making its intentions public.　　Cohens Strategic Vision　　Cohen‘s rationale appears clear in concept. His plan would transform GameStop’s network of approximately 1,600 physical US locations into a distribution infrastructure for eBay, positioning the online marketplace as a more formidable challenger to Amazon. Cohen has also suggested that his cost-reduction strategies that stabilized GameStop could be implemented across eBays larger operations.　　eBay released a statement confirming it is evaluating the proposal, specifically examining GameStops capacity to present what the company termed a

05-08Industry

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