Latest Crypto News & Market Updates

Aave court fight targets North Korea ETH claim

Aave court motion filed today in New York asks a federal judge to unfreeze $71 million in ETH.Aave LLC filed an emergency motion in the Southern District of New York to unfreeze 30,765 ETH worth approximately $71 million.The filing argues the funds belong to users victimized in the April 18 Kelp DAO exploit, not to North Korean hackers.Plaintiffs holding $877 million in unpaid terrorism judgments against North Korea claim the ETH is recoverable DPRK property.　　Aave LLC filed an emergency motion today in the Southern District of New York to vacate a restraining notice blocking 30,765 ETH, worth roughly $71 million, from returning to exploit victims.　　The filing argues the assets belong to users of the Aave Protocol harmed in the April 18 Kelp DAO bridge exploit, not to North Korea or its alleged Lazarus Group hackers.　　The restraining notice was served on May 1 by Gerstein Harrow LLP, representing three sets of judgment creditors holding $877 million in unpaid terrorism awards against North Korea. Their argument: because the attackers are linked to Pyongyangs Lazarus Group, the recovered ETH qualifies as DPRK property subject to seizure.　　Aave calls that theory “flatly wrong.” Aave founder Stani Kulechov said: “The global DeFi community came together to

05-06Industry

Philippines: Inflation surge raises BSP hike risks – ING

Finance　　Philippines: Inflation surge raises BSP hike risks – ING　　INGs Deepali Bhargava highlights that Philippine Consumer Price Index (CPI) has jumped to a three‑year high, driven mainly by broad‑based food and fuel‑related pressures, and now looks set to average above 8% in 2Q. With Brent expected around US$104/bbl and inflation broadening into core, ING now sees a June Bangko Sentral ng Pilipinas (BSP) rate hike as assured, with risks skewed to larger and faster tightening.　　CPI overshoot points to faster tightening　　“Headline CPI inflation in the Philippines rose sharply to 7.2% year-on-year in April, much higher than our expectation of 5.2%, and up by over 3 percentage points from 4.1% YoY in March.”　　“With negotiations around the US-Iran conflict dragging on and no imminent de-escalation in sight, our base case has shifted toward higher global oil prices, with supply disruptions easing materially only in 3Q.”　　“Against this backdrop, we now expect Brent crude prices to average around US$104/bbl in 2Q, with CPI inflation likely to rise further and average above 8% in 2Q, pushing our full-year inflation forecast to 6% YoY.”　　“The sharp CPI upside surprise reinforces the risk of larger and faster rate moves by the BSP.”　　“In this context, a 25bp rate hike in June

05-06Industry

Crypto ETPs log five straight weeks of inflows, topping $4B

Crypto asset ETPs just notched a fifth straight week of inflows, lifting five-week net flows above $4B and pushing AUM near $155B despite sharp midweek outflows.CoinShares latest weekly report shows global crypto asset ETPs recorded $117.8 million in net inflows last week, marking a fifth consecutive positive week and pushing cumulative five-week inflows above $4 billion.Total assets under management now stand near $155 billion, but flows were highly volatile: $619 million in net outflows from Monday to Thursday flipped to a $117.8 million weekly inflow thanks to a single $737 million surge on Friday.Bitcoin products led with $192.1 million in inflows, largely driven by U.S. spot ETFs, while Ethereum products saw $81.6 million of net outflows, underscoring a sharp midweek pullback in risk appetite before a late recovery.　　CoinShares said that digital asset ETPs took in $117.8 million last week, extending their inflow streak to five weeks and bringing cumulative inflows over that period to more than $4 billion, as total industry AUM climbed to around $155 billion.　　Inflows mask sharp intraweek reversal　　Beneath the headline, however, flows were choppy. From Monday through Thursday, products collectively saw $619 million in net outflows, before a $737 million influx on Friday alone swung the weekly

05-06Industry

Indonesia: Growth outlook steady with fiscal constraints – UOB

Finance　　Indonesia: Growth outlook steady with fiscal constraints – UOB　　UOB economists Enrico Tanuwidjaja and Vincentius Ming Shen highlight that Indonesia‘s 1Q26 Gross Domestic Product (GDP) beat expectations at 5.61% year-on-year, driven by government spending, household consumption and investment. They stress that the current pace could reach the government’s 6% near-term target, but emphasize that fiscal discipline, effective investment strategies and stronger partnerships are crucial to sustain growth amid rising external risks.　　Government-led expansion faces sustainability questions　　“Fiscal expansion support 1Q26 growth, but unlikely to be sustained. Indonesia posted a stronger-than-expected GDP growth of 5.61% y/y in 1Q26, outperforming market expectations of 5.30%.”　　“Outlook remains positive, with seemingly enough pace to reach the near-term governments target of 6%, but fiscal discipline remains the key factor here and going forward, effective investment strategies are critical to sustain momentum amid rising and uncertain external risks.”　　“While strong GDP growth signaled resilience, the reliance on fiscal expansion raises caution and unlikely to be sustainable.”　　“In short, an expansionary fiscal-led growth is unlikely to be sustainable given the constraint of fiscal deficit gap at 3% of GDP.”　　“Overall, though today‘s 1Q26 report came in much stronger than expected, we remain cautious on its short-term trajectory and as such, we continue to keep

05-06Industry

Europol shuts down €50M crypto recovery scam network

Austrian and Albanian police arrested 10 people and shut down fraudulent call centers in Tirana. The call centers allegedly defrauded victims of ~€50 million through fake investment schemes and crypto recovery fraud.　　Europol and Eurojust worked together on the operation, after a two-year investigation into a criminal network operating out of Albanias capital. Authorities seized ~€900,000 in cash along with large quantities of IT equipment.　　The call centers operated like professional businesses, employing as many as 450 people across departments, including IT and human resources. Individual operators earned ~$938 per month in salary plus commission.　　Workers were organized by language specialization, targeting victims in specific markets. They built trust with potential victims before pitching fabricated investment opportunities and persuading them to transfer funds.　　Eurojust wrote, “The online call centers run by the criminal network demonstrated a high level of organization and professionalism.”　　According to Europol, some victims were hit twice.　　After losing money in the initial fraud, they were contacted again and offered help in recovering their stolen funds. The supposed recovery service required victims to open crypto accounts and deposit an initial 500 euros.　　“Alarmingly, the perpetrators re-contacted victims who had already suffered losses through fraudulent platforms, offering to help them recover their funds,” wrote Eurojust

05-06Industry

Uber (UBER) Stock: Analyst Expectations Ahead of Q1 Earnings Release

Uber Technologies, Inc., UBER　　Analyst consensus points to quarterly revenue of $13.33 billion, representing approximately 15% growth compared to the same period last year. The Street anticipates adjusted earnings per share of $0.71, alongside EBITDA projections of $2.44 billion.　　Shares were changing hands near $74.25, reflecting a year-to-date decline of approximately 9% as the earnings announcement approaches.　　Gross bookings are forecast to hit $52.9 billion, marking about 23% growth on an annual basis. This projection falls comfortably within the companys previously issued guidance band of $52 billion to $53.5 billion.　　Monthly Active Platform Consumers represents another metric drawing significant attention. The previous quarter saw this metric climb to 202 million users, demonstrating 18% year-over-year expansion — a notable acceleration from the 14% growth rate recorded at 2025s outset.　　Recent estimate trends paint a less optimistic picture. Throughout the preceding three months, Wall Street analysts have lowered their EPS projections ten times, with only a single upward adjustment during that span.　　Autonomous Vehicle Strategy Accelerates　　The company has executed several significant autonomous vehicle initiatives leading up to this earnings announcement. Management established Uber Autonomous Solutions, a dedicated division designed to assist partners in developing and deploying self-driving fleets across its platform.　　This past April, Uber expanded its financial commitment

05-06Industry

Crypto PAC spends $500K in support of Indiana candidate ahead of primary

Defend American Jobs, the cryptocurrency-backed political action committee (PAC) affiliated with Fairshake, reported spending more than $500,000 on media to support a Republican incumbent representative in Indiana.　　According to a Saturday filing with the US Federal Election Commission (FEC), the Defend American Jobs PAC spent about $514,000 on media in support of James Baird, a Republican House member running for reelection in Indianas 4th Congressional District. The spending was the latest in Fairshakes spending on the 2026 US elections ahead of todays Indiana primary elections.　　Source: FEC　　Baird, who assumed office in January 2019, voted in favor of the GENIUS Act, the stablecoin payments bill, and the CLARITY Act, legislation aimed at creating digital asset market structure that has been stalled in the US Senate for months.　　The Coinbase-aligned digital asset advocacy organization Stand With Crypto rated the Republican as “strongly supports crypto.”　　Fairshake and its affiliates, Defend American Jobs and Protect Progress, are expected to spend millions of dollars in support of candidates it considers “pro-crypto” in this years US midterm elections.　　In 2024, the PAC reported more than $130 million in expenditures for media supporting such candidates, including $40 million for Ohio‘s US Senate race, in which voters rejected three-term Democratic incumbent Sherrod Brown.

05-06Exchange

Spirit Airlines starts dismantling company after collapse

Finance　　Spirit Airlines starts dismantling company after collapse　　A Spirit Airlines airplane at Baltimore Washington International Thurgood Marshall Airport (BWI) in Baltimore, Maryland, US, on Saturday, May 2, 2026.　　Daniel Heuer | Bloomberg | Getty Images　　Spirit Airlines more than three-decade run ended over the weekend, but on Tuesday it was just starting the monthslong process of dismantling the company after the biggest U.S. airline collapse in a generation.　　Spirit and its stakeholders were in bankruptcy court in White Plains, New York, to start that process, which will take months.　　The carrier filed a cumulative wind-down budget of around $217 million, though that number could change.　　The budget went out to February 2028. It included more than $52 million in employee costs through July and another more than $52 million for aircraft-related expenses.　　The airline had 59 Airbus A320s in service and 63 in storage, as well as 37 of the larger A321s in service, and 13 of them in storage, according to aviation-data firm Cirium. More than three-quarters of its fleet was leased.　　Spirit shut down operations after years of struggles, most recently from heavy debt loads and a surge in costs.　　Spirits lawyer, Marshall Huebner of Davis Polk, told a bankruptcy court on Tuesday that the jump in

05-06Industry

Pendle Effect Spurs Explosive Growth in Stablecoin Demand

Pendle Finances innovative approach to tokenized yield is proving to be a major catalyst for stablecoin adoption across the DeFi ecosystem. Dubbed the “Pendle Effect,” the phenomenon describes the demand surges triggered when Pendle launches Principal Token (PT) and Yield Token (YT) markets for an asset. By enabling fixed-rate yield strategies and leveraged exposure, Pendle attracts both wholesale capital and retail users seeking optimized returns.　　Key Examples of the Pendle Effect　　New data from Dune highlights how Pendle has reshaped the trajectory of various stablecoins and yield-bearing tokens. Notably:USDe (Ethena): Pre-Pendle, USDe had just 85 holders and $131 million in supply (January 2024). By October 2025, it reached a staggering 58,271 holders and $16.5 billion in supply. The integration of PT-sUSDe as collateral on Aave amplified recursive yield strategies, peaking at $7.2 billion in PT deposits on Aave and Morpho.USR (Resolv): This asset saw its holder base explode from 30 pre-launch to 69,806 at its September 2025 peak, a 2,300x increase. Even after an 86% supply contraction and a March 2026 exploit, holder counts remained stable, suggesting the addresses retained are “stickier” than the capital.USDG (Global Dollar): Already well-distributed with 44,386 holders before Pendle, USDG‘s Pendle integration saw its SY contract capture

05-06Industry

Iggy Azalea Faces Class Action Lawsuit Over MOTHER Token

Mother Iggy (MOTHER) Price Performance. 　　The tokens debut also drew controversy. On-chain analysts previously flagged $2 million in insider trading activity around the launch, claims Azalea denied at the time.　　“Don‘t disappoint your mother. Also don’t believe the bullsh*t, fake screenshots, and all the rest. I know you all are smarter than that. No one is working with me. I cant say it enough. Not true. Sahil, baby, take your L and go already,” Azalea stated at the time.　　Burwick Laws Expanding Crypto Litigation Playbook　　Burwick has emerged as one of the most active plaintiff-side firms in crypto consumer protection. The firm has previously filed similar suits over the LIBRA token, the HAWK meme coin, and the Believe launchpad. It has also taken aim at Pump.fun.　　The MOTHER case continues that pattern, focusing on consumer protection rather than securities registration.　　By framing the action under deceptive practices statutes, Burwick avoids the harder question of whether meme coins qualify as securities.　　Iggy Azalea has not publicly responded to the complaint.　　The suit is in its earliest stages, and motions to dismiss are common in cases of this kind.　　Notwithstanding, the filing puts another celebrity-backed meme coin on a growing list of class actions tied to alleged marketing failures.　　The post

05-06Industry

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