Crypto Industry News & Market Trends

Toobit Confirms Over 100% Asset Backing in Latest Hacken Proof of Reserves Report

The assessment conducted by Hacken confirms that the exchange is maintaining a collateral ratio of more than 100% across all in-scope digital assets. These include BTC, ETH, USDT, and USDC.　　This audit confirms that theres a safe 1:1+ backing for every trader deposit. The findings also verify that there is a reserve surplus that ensures all trader liabilities are fully over-collateralized.　　Additionally, the verification process validated the individual balances of more than 640,000 accounts. This was achieved by cross-referencing loads of internal data against legal documentation, as well as against official statements from third-party institutional custodians to guarantee the highest level of accuracy.　　Report Mechanics　　To deliver full transparency, Hacken used a multi-stage methodology that was focused on three key stages. First, the auditors performed a Proof of Liabilities. To do so, they verified the total balances of more than 600,000 liability holders to make sure that there was an accurate representation of client deposits.　　The second stage was Asset Verification. During this, auditors compared the total reserve balances against the client liability report to verify whether they covered them in full. Last but not least, the process included Operational Oversight, aiming to review information flow and custodial reporting, which ensures all data remains authentic

05-07Industry

TON Price Prediction: Extreme Overbought Rally Targets $2.30 Before 30% Correction to $1.60

The Immediate Setup　　Toncoin delivered a crushing blow to short sellers with a 16.72% daily surge that launched price from $1.76 lows to current levels at $2.14. This momentum carries genuine volume backing at $127.6 million on Binance alone, but the technical picture reveals dangerous overbought conditions. The RSI reading of 88.88 combined with price trading 30% above the upper Bollinger Band at $1.87 creates a textbook setup for significant cooling off. The MACD histogram flatlining at 0.0000 indicates this explosive move is losing steam precisely when retail traders are most euphoric.　　Key Levels Exposed　　The technical structure shows a coin stretched beyond sustainable limits. TON has obliterated every meaningful resistance level, now trading 50% above its 20-day moving average at $1.42 and surpassing the 200-day SMA at $1.56. Immediate resistance clusters around $2.31, with stronger opposition waiting at $2.49. The downside presents a concerning picture – the first meaningful support doesnt appear until $1.86, followed by more substantial buying interest near the $1.59-$1.60 zone where multiple moving averages converge. This wide gap between current price and support levels signals heightened volatility ahead, with Blockchain.news technical analysis confirming these critical inflection points.　　Sentiment vs Reality　　The derivatives landscape tells a sobering story beneath the surface

05-07Industry

Advanced Micro Devices (AMD) Stock Soars 18% Following Stellar First Quarter Results

Advanced Micro Devices, Inc., AMD　　The semiconductor company delivered quarterly revenue totaling $10.25 billion, surpassing the Streets expectation of $9.9 billion. Per-share earnings reached $1.37, comfortably ahead of the $1.28 analyst consensus.　　Shares were changing hands near $421 during Wednesday‘s trading session, representing a substantial jump from approximately $355 at the previous day’s close.　　The datacenter business segment stole the spotlight, generating $5.78 billion in revenue — marking a 57% increase compared to the same period last year. Robust demand for server processors represented the main catalyst behind this growth.　　Looking toward the second quarter, AMD issued revenue guidance of $11.2 billion. This forecast sits well above Wall Streets collective estimate of $10.5 billion. The company anticipates datacenter revenues will expand by double-digit percentages sequentially, while server CPU revenue is projected to surge more than 70% on a year-over-year basis.　　Trading activity reflected intense investor interest. Over 54 million AMD shares exchanged hands Wednesday, substantially exceeding the three-month average daily volume of approximately 32.47 million.　　Wall Street Analysts Rush to Upgrade　　Goldman Sachs elevated AMD to a Buy rating while simultaneously raising its price objective to $450 from a previous $240. Covering analyst James Schneider highlighted agentic artificial intelligence as a long-term structural growth driver for AMDs

05-07Industry

Quantmap Co-Founder Warns Single-Platform Influencers Could Be Hiding Botted Fans

Tech　　Quantmap Co-Founder Warns Single-Platform Influencers Could Be Hiding Botted Fans　　A study conducted in late 2024 pulled back the curtain on the “shill culture” permeating the Web3 ecosystem after revealing that a staggering 76% of X-based influencers leveraged their platforms to promote meme coins that have since collapsed. Even more damning, two-thirds of these digital assets are now deemed functionally worthless, leaving retail investors holding the bag for liquidated projects.　　The study further highlighted a bizarre inverse relationship between popularity and performance. Personalities with followings exceeding 200,000 yielded the most disastrous outcomes, with their calls resulting in an average 89% loss within a mere 90 days. These catastrophic returns underscore a dangerous reality: Many of these high-profile figures possess significant social reach but lack even the most foundational financial credentials.　　For critics and financial watchdogs, these figures serve as a definitive smoking gun for the necessity of stringent investor protection laws. The unchecked dissemination of speculative advice has prompted a legislative counter-offensive in key global markets like the United Arab Emirates and the United Kingdom.　　However, just as regulators begin to get a grip on human influencers, the goalposts have shifted. The rise of artificial intelligence influencers is creating a legal quagmire, as these

05-07Industry

Here’s Why Toncoin Price Is Up 35% Today, May 7

Tech　　Heres Why Toncoin Price Is Up 35% Today, May 7　　The cryptocurrency market is not making strong gains today, May 7, but Toncoin (TON) has stood out. The price went from $2.42 to $2.90. But this is just the tip of the iceberg because, zooming out, it is evident that the gains did not start today but on May 4 when the price was at $1.35. That means Toncoin price has doubled in just three days. But what is causing this “up only” trend？　　Buyers, Network Upgrades Push Toncoin Price to 7-Month High　　Toncoin is not leaving the spotlight because of the gains that are going on. They started on May 4, and by May 7, during the Asian trading session, it had reached $2.90. It was the first time reaching this price since late September 2025.　　And a lot of these gains are being caused by buyers because on CoinMarketCap, trading volumes had a reading of $1.84 billion after increasing by 84%. If this continues, then Toncoins 114% rise in the last three days is just the beginning of its journey upwards.　　Earlier this week, CoinGapes article shed light on what may be causing the price to go up after saying that Telegram founder

05-07Industry

Core Scientific shares slip as Q1 loss offsets revenue growth

Core Scientific reported $115.2 million in first-quarter revenue, up from $79.5 million a year earlier. Core Scientific revenue rose to $115.2 million, driven mainly by fast-growing colocation business demand.The miner posted a $347.2 million net loss due largely to non-cash impairment charges.Self-mining revenue fell sharply as Bitcoin output dropped and the firm shifted toward AI infrastructure.　　Gross profit also rose to $30.1 million from $8.2 million in the same period last year. The growth came mainly from colocation revenue, which reached $77.5 million. That was up from $8.6 million in Q1 2025 as the company delivered more billable power capacity to customers.　　The companys Bitcoin self-mining revenue moved in the opposite direction. It fell to $30.1 million from $67.2 million due to a 45% drop in Bitcoin mined and an 18% decline in the average Bitcoin price.　　Net loss weighs on stock　　Core Scientific posted a $347.2 million net loss in Q1, compared with net income of $576.3 million a year earlier. The loss included $266.5 million in non-cash impairment charges and a $30.8 million non-cash loss tied to warrants and contingent value rights.　　MarketBeat reported that Core Scientific posted an EPS loss of $1.06, missing analyst estimates, while revenue came in slightly below expectations

05-07Industry

FLOKI Price Prediction: Dead Cat Bounce Fading Fast - 25% Drop to $0.000025 by June

The Immediate Setup　　FLOKI is painting a textbook distribution pattern at $0.0000338, riding dangerously close to Bollinger Band resistance with a %B position of 0.97. The 1.41% daily gain masks underlying weakness – this bounce lacks conviction with MACD histogram sitting flat at zero. Smart money is clearly taking profits into this relief rally, and the RSI at 62.32 confirms buyers are already getting stretched thin.　　Key Levels Exposed　　The technical picture screams caution. Moving averages are providing zero meaningful support structure, while the Stochastic reading of 78.61 versus %D at 62.89 shows momentum diverging from price action. Blockchain.news data reveals FLOKIs daily ATR remaining suppressed, indicating low conviction from both bulls and bears. This sideways grind typically precedes sharp moves, and with resistance levels undefined in the current range, any breakdown will find little support until major psychological levels.　　Sentiment vs Reality　　Caroline Bishops April 30th analysis calling for a 15% correction through June appears overly conservative given current technicals. Her observation about “flat MACD momentum” and “extended sideways action” was spot-on, but the risk-reward has deteriorated significantly since then. While Blockchain.news coverage shows limited KOL engagement on FLOKI recently, the absence of bullish narratives during this bounce is telling. Volume at $5.1M on

05-07Industry

1inch Distances Itself From $6.7M TrustedVolumes Exploit

Tech　　1inch Distances Itself From $6.7M TrustedVolumes Exploit　　Security firms Blockaid and CertiK said the attacker exploited a publicly accessible function to register as an approved order signer before draining funds through malicious transactions. The stolen assets included Wrapped Ether, USDT, Wrapped Bitcoin, and USDC.　　TrustedVolumes Exploit Drains $6.7M　　TrustedVolumes, an independent market maker and resolver used by decentralized exchange aggregator 1inch Fusion, confirmed that it suffered a major that resulted in approximately $6.7 million in stolen crypto assets.　　The company revealed that the funds are currently spread across three Ethereum wallets, with two of the addresses holding roughly $3 million each and a third wallet containing close to $700,000. In a that was shared on X, TrustedVolumes said it was willing to engage in “constructive communication” with the attacker and appeared open to negotiating a bug bounty arrangement or another mutually acceptable resolution.　　The exploit first came to light after blockchain security firm Blockaid identified suspicious activity involving TrustedVolumes Ethereum-based swap infrastructure. According to Blockaid, the attack targeted a custom swap system controlled by TrustedVolumes and initially resulted in an estimated loss of around $5.87 million. The stolen assets reportedly included Wrapped Ether, USDT, Wrapped Bitcoin, and .　　The estimate later increased as more information became

05-07Industry

Ripple, JPMorgan settle first cross-border tokenized Treasury redemption on XRP Ledger

A key piece of financial infrastructure stitching tokenized assets to traditional banking got a real cross-border test this week.　　Ondo Finance said Wednesday it had completed the first near-real-time cross-border redemption of a tokenized U.S. Treasury fund alongside JPMorgans blockchain platform Kinexys, payments giant Mastercard, and Ripple.　　The transaction settled in under five seconds on the XRP Ledger and involved OUSG, Ondos tokenized U.S. Treasury fund built for accredited investors and qualified purchasers.　　The pipeline started with Ondo processing the redemption on the XRP Ledger, after which Mastercard‘s Multi-Token Network routed the instructions to Kinexys, and JPMorgan delivered the U.S. dollars to Ripple’s Singapore bank account.　　The whole sequence happened outside traditional banking windows, the kind of cross-border settlement that typically takes one to three business days through correspondent banks.　　“By connecting public blockchain infrastructure with interbank settlement rails, Ondo, Kinexys by JPMorgan, Mastercard, and Ripple are laying the groundwork for 24/7 global markets that never close,” said Ondo President Ian De Bode in a statement.　　Markus Infanger, senior VP at RippleX, said the transaction shows institutions can run cross-border tokenized asset moves as a single integrated flow rather than stitching them together through legacy systems.　　The pilot lands as the Depository Trust & Clearing Corporation (DTCC)

05-07Industry

The “never sell” Bitcoin treasury trade is seriously starting to crack

Bitcoin　　The “never sell” Bitcoin treasury trade is seriously starting to crack　　On Strategys May 5 earnings call, Strategy CEO Phong Le said plainly that “we will sell Bitcoin when it is advantageous to the company,” with Saylor adding that Strategy would “probably sell some Bitcoin to fund a dividend just to inoculate the market.”　　Strategy held 818,334 BTC as of May 3, up 22% year-to-date, with a market value of $64.14 billion.　　What the May 5 call established was the public normalization of BTC sales as a corporate finance lever and the quantitative framework now sitting behind it　　Below roughly 1.22x mNAV, management said selling BTC and paying dividends can be more accretive than issuing common equity. Saylor argued that if Bitcoin appreciates by just 2.3% annually, Strategys current reserve can fund dividends “forever,” and if Bitcoin appreciates at zero, the reserve can still support dividends for 43 years.　　The absolutist slogan gave way to a model in which companies that buy when accretive, issue equity when accretive, issue preferreds when accretive, and sell BTC when accretive are leveraged treasury-and-credit vehicles.　　Investors originally bought these companies as Bitcoin proxies built on scarcity and permanence. The 1.22x mNAV threshold and the 2.3% breakeven rate are a more

05-07Industry

...

945947

...

1000