Latest Crypto News & Market Updates

Hot air at AWS causes Coinbase outage

Coinbase stopped working for over seven hours on Thursday after hot air in an Amazon data center threw its cloud services into disarray.　　The exchanges users found themselves unable to buy or sell crypto, while order book prices displayed hundreds of dollars larger than rival exchanges Binance and Hyperliquid.　　The cause？ Coinbase blames “increased temperatures in the affected AWS service.”　　Amazon Web Services (AWS), which is one of the largest providers of cloud infrastructure that keeps much of the internet ticking over, claims to have suffered from a “thermal event” in one of its data centers in Northern Virginia.　　The increase in temperature apparently affected its cloud hosting hardware, leading to a loss of power.　　AWS quickly got to work on a solution, and as of this morning said it was “actively working to bring additional cooling system capacity online, which will enable us to recover the remaining affected racks in a controlled and safe manner.”　　Amazon notes that its data centers rely on evaporation cooling, a system that involves filters in its air conditioning units being “dampened” with water, cooling any hot air that comes in and evaporating the water in the process.　　Microsoft uses a similar system to Amazons AWS cooling methods.　　Whatever the fix was

05-08Industry

PROS explodes 48% as Upbit and Bithumb listings ignite demand

Upbit will add Pharos to its KRW, BTC, and USDT markets on May 8, giving Korean traders new spot access to PROS. PROS jumped 47.8% to $0.9457 after Upbit and Bithumb expanded Korean market access.Pharos trading volume rose 209.6% to $28.7 million as listing momentum boosted activity.CoinGecko ranked PROS at #255, with a $127.5 million market cap after the rally.　　The exchange notice said trading support was scheduled for 8:30 p.m. Korea time.　　Deposits and withdrawals are expected to open within one hour and 30 minutes after the notice. Upbit said users must send PROS through the Pharos network only, as deposits through unsupported networks may take longer to return.　　Interestingly, CoinGecko data showed Pharos trading at $0.9457, up 47.8% over 24 hours. The token also gained 45.7% over seven days, placing it above the wider crypto markets daily move.　　Trading activity also increased. CoinGecko placed 24-hour PROS volume at $28.7 million, up 209.6% from the previous day. The token had a market cap of about $127.5 million and ranked #255 on CoinGecko.　　The price move also came as Bithumb added Pharos to its Korean won market. That gave PROS another local listing on the same day and expanded access beyond Upbit　　Early trading limits will

05-08Industry

Agentic by Eigen Event Spotlights AI Verifiability Challenges

Last week, Eigen Labs‘ event brought together builders, founders, and researchers in the Network State community to tackle one of AI’s thorniest issues: creating agents that are not just autonomous but also verifiable and resilient. The event highlighted key challenges in building agentic AI systems and underscored the importance of accountability in an increasingly agent-driven economy.　　AI Workflow Disruptions and the Rise of ‘Vibe Coding’　　The opening session focused on “vibe coding,” a term describing how AI tools like generative models have drastically reduced the time needed to go from concept to execution. Participants discussed the benefits of this acceleration, but also the breaking points in workflows where existing AI tools fail to deliver. Much of the room had months of hands-on experience, making discussions less hypothetical and more grounded in real-world bottlenecks.　　Agent Challenges: Handoffs, Longevity, and Missing Tools　　The conversation then shifted to the nuts and bolts of building autonomous agents. While demos often showcase agents performing well in isolated scenarios, attendees noted that these systems tend to falter over extended workflows due to tool handoff issues and gaps in the emerging “agent stack.” These missing components remain a barrier to deploying agents in production environments, particularly in data-sensitive industries.　　Verifiability: The Elephant

05-08Industry

Gold Price Forecast: XAU/USD Holds Above $4,700 As US Dollar Weakness Persists

Gold prices continued to trade firmly above the $4,700 mark on Wednesday, supported by sustained weakness in the US Dollar and growing expectations that the Federal Reserve may ease monetary policy later this year. The XAU/USD pair has held its ground near multi-month highs, reflecting renewed safe-haven demand amid mixed signals from global equity markets and ongoing geopolitical uncertainties.　　US Dollar Weakness Fuels Golds Rally　　The US Dollar Index (DXY) extended its decline for a third consecutive session, falling below the 101.00 threshold as traders priced in a higher probability of rate cuts by the Fed in the second half of 2025. A weaker dollar makes gold more attractive to international buyers, as the precious metal is priced in USD. The correlation between a falling greenback and rising gold prices has remained strong over the past month, with XAU/USD gaining approximately 6% since mid-March.　　Market participants are closely watching upcoming US economic data, particularly the Personal Consumption Expenditures (PCE) price index due later this week. Any signs of cooling inflation could reinforce the case for a dovish Fed pivot, further boosting golds appeal as a store of value. Conversely, a stronger-than-expected reading might trigger a short-term pullback, but analysts suggest the broader trend

05-08Industry

Coinbase Incurs $394M Loss in Q1 2026 as Revenue Drops 31% Amid Bear Market

Coinbase, the renowned crypto exchange, has reported notable losses in revenue over the 1st quarter of this year. Particularly, Coinbase has undergone a cumulative loss of up to $394M in Q1 2026. As per the data from Crypto Patel, a key factor behind this downturn was the continuous crypto bear market. Particularly, the quarterly revenue of the crypto exchange accounts for $1.41B.　　Coinbase Posts $394M Loss As Q1 2026 Revenue Drops 31% To $1.41B　　The Biggest US Crypto Exchange Just Got Hit Hard By The Bear Market.　　Q1 2026 Numbers:　　▪️ Revenue: $1.41B (Miss vs $1.48B Est.)　　▪️ Net Loss: $394M ($1.49 EPS)　　▪️ Transaction Revenue: Down 40% YoY　　Coinbase Q1 Revenue Drops 31% Amid Extended Market Downtrend　　The consistent downtrend in the crypto market led to a staggering $394M loss in Coinbases Q1 revenue. Hence, the crypto exchange has earned up to $1.41B throughout the quarter, missing the expectation of nearly $1.48B. At the same time, this also highlights a 31% year-over-year drop.　　These disappointing earnings underscore the diminishing transfer activity across the wider digital asset sector. In this respect, the transfer revenue plunged by 40% in comparison with the same period during 2025. Additionally, the spot trading volume among consumers slumped by 35%, signifying the decreased participation

05-08Industry

Morning Minute: Coinbase Misses Earnings on Surprise Loss

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our new daily news show covering all of the top stories in 5 minutes or less, downloadable on Apple Pod or Spotify.　　GM!　　Todays top news:Crypto majors fall another 1-2% while stocks are green; BTC at $80.2kCoinbase misses earnings with a surprise net loss; prediction markets are boomingTom Lee says his ETH buying may slow as he approaches 5%AWS launches new system with Coinbase and Stripe to let AI agents use stablesTethers Medical AI model QVAC MedPsy crushes benchmarks, can run on a smart phone　　???? Coinbase Misses Earnings, But Prediction Market Booms　　Coinbase reported Q1 2026 earnings on Thursday after the bell and the headline numbers were rough.Revenue came in at $1.41 billion against a $1.48 billion consensus, a 31% year-over-year decline.The EPS was a net loss of $1.49 per share against analyst expectations for a $0.27 profit (big miss)Consumer transaction revenue fell 45% year-over-year to $734 million.Operating expenses rose 22% to $1.5 billion.　　COIN fell 4% in after-hours trading.　　But on the positive side, institutional transaction revenue grew 31% year-over-year to $185 million, driven by

05-08Industry

Agentic by Eigen Event Spotlights AI Verifiability Challenges

Last week, Eigen Labs‘ event brought together builders, founders, and researchers in the Network State community to tackle one of AI’s thorniest issues: creating agents that are not just autonomous but also verifiable and resilient. The event highlighted key challenges in building agentic AI systems and underscored the importance of accountability in an increasingly agent-driven economy.　　AI Workflow Disruptions and the Rise of ‘Vibe Coding’　　The opening session focused on “vibe coding,” a term describing how AI tools like generative models have drastically reduced the time needed to go from concept to execution. Participants discussed the benefits of this acceleration, but also the breaking points in workflows where existing AI tools fail to deliver. Much of the room had months of hands-on experience, making discussions less hypothetical and more grounded in real-world bottlenecks.　　Agent Challenges: Handoffs, Longevity, and Missing Tools　　The conversation then shifted to the nuts and bolts of building autonomous agents. While demos often showcase agents performing well in isolated scenarios, attendees noted that these systems tend to falter over extended workflows due to tool handoff issues and gaps in the emerging “agent stack.” These missing components remain a barrier to deploying agents in production environments, particularly in data-sensitive industries.　　Verifiability: The Elephant

05-08Industry

Brian Armstrong Says the Onchain Economy Has Reached Escape Velocity

Tech　　Brian Armstrong Says the Onchain Economy Has Reached Escape VelocityCoinbase hit a record global crypto trading market share with gains in spot and derivatives.Stablecoin volume on Base grew 10x year over year, with 90% of agentic volume.Q1 was the 12th straight quarter of net native unit inflows on the platform.　　Coinbase CEO Brian Armstrong used the companys Q1 2026 earnings to deliver a message that went beyond quarterly numbers. A generational shift is happening in global finance, he said, and Coinbase is positioned at its center.　　“Our thesis is simple: crypto is the best form of money, and the infrastructure will overhaul the existing financial system. If it involves money, it will involve crypto.”　　The crypto market was down during the quarter. But Armstrongs argument was that short-term price action is increasingly irrelevant to what Coinbase is actually building.　　The Onchain Economy Is Growing Regardless of Price　　Armstrong pointed to structural growth that has continued independently of market conditions. Crypto trading volumes have grown more than 50 times over the past seven years. The stablecoin market cap has crossed $300 billion and is still expanding. Tokenized real-world assets are expected to reach $16 trillion by 2030.　　And now crypto has a new catalyst that changes the

05-08Industry

Coinbase Recovers After AWS Outage: Weak Q1 Results Signal Turning Point for Exchange Model

According to its official reports, an outage in a particular Availability Zone (use1-az4) in the US-EAST-1 region led to increased temperatures and degraded performance across Coinbases platform.　　This incident quickly caught the eye of industry leaders, not only due to its direct effect on trading, but also because it laid bare the critical nature of cloud infrastructure for many crypto platforms. Even though digital assets are advertised as decentralized in nature, this can lead one to the realization of an underlying hypocrisy, many of the most important functions still rely on traditional technology firms.　　During the entire outage, Coinbase kept its consumers informed through official channels. The exchange confirmed degraded functionality in one statement and outlined some preliminary steps for restoring the platform here:　　Coinbase experienced service disruptions due to increased temperatures in the affected Availability Zone (use1-az4) in the AWS US-EAST-1 Region.　　Due to the instability, Coinbase initiated an “Cancel Only” mode by putting all markets into a precautionary trading restriction. This feature enables the option of users to cancel existing orders while preventing new trades from being executed. The measure is a safeguard against potential price anomalies and system errors during the services degraded state.　　It was now that the second phase tried

05-08Industry

Top 3 Cryptos to Buy Now That Could Multiply Your Portfolio Before the Next Listing Wave

The post Top 3 Cryptos to Buy Now That Could Multiply Your Portfolio Before the Next Listing Wave appeared first on Coinpedia Fintech News　　The top 3 cryptos to buy now just became clearer after BTC reclaimed the bull market support band for the first time in six months and touched $80,393.　　Standard Chartered and Bernstein both set $150,000 year-end targets, spot ETF money is flowing back in, and the market is showing early signs of the kind of run that rewards early positioning.　　The list includes entries at every risk level, but one presale stands out above the rest for pure return potential.　　BTC Reclaims Bull Market Support Band as Institutions Target $150K　　BTC reclaimed the bull market support band on May 4 after touching $80,393, the highest level since January according to FinanceMagnates.　　Standard Chartered and Bernstein both set $150,000 as their year-end 2026 target for BTC, while spot ETF inflows returned with $629 million in May.　　The global crypto market cap reached $2.69 trillion with BTC holding 58.4% dominance according to CoinGabbar. Traders watching the recovery are seeing a market where institutional commitment is stronger than it has been in months.　　Three Crypto Entries Worth Watching in May 2026Pepeto: The Same Setup That Produced Every

05-08Industry