BNY expands digital asset custody push with UAE partnerships

BNY (formerly BNY Mellon) is expanding its digital asset custody services into the UAE through local partnerships, as institutional demand for secure custody in the region surges. The expansion leverages local collaborations as part of the ongoing rapid integration of digital assets into mainstream finance via regulated channels.  BNY joins other global financial giants in bridging traditional finance with the digital asset ecosystem, capitalizing on the high demand for secure, regulated custodial services. The UAE is catching up to global leaders in crypto and blockchain innovation, creating demand for institutional-grade custody solutions. Major traditional financial custodians are aggressively entering the crypto market to offer secure, compliant services.  As the UAE continues to build its digital asset regulatory framework, BNY is enhancing its digital asset platform to include on-chain, near-real-time settlement via tokenized deposits. BNYs UAE expansion exemplifies the current phase, where custody is about utility: enabling assets to flow securely between digital and traditional systems.  BNY helps embed digital assets into a sovereign-grade framework  with Finstreet and the ADI Foundation in Abu Dhabi Global Market (ADGM), BNY is not just storing keys; it is embedding digital assets into a sovereign-grade framework. The involvement of the ADI Foundation (focused on sovereign digital economies) signals that

05-07

AI agents becoming more relevant than humans by 2035 has Big Tech terrified, says Hoskinson

AI agents will become more relevant than humans on the internet within the next decade, a shift already already forcing Google, Facebook and Amazon to react, said Charles Hoskinson.  In his keynote at Consensus Miami 2026 on Wednesday, Hoskinson also said that “by 2035, the majority of searches, commerce and activity on the internet will be AI agents instead of people.”  He said the change threatens existing business models. “Amazon, Google, Facebook, theyre terrified of the agentic revolution,” Hoskinson said, adding that companies are investing heavily because “all of their business models are going to be disrupted.”  AI Agents do not click ads or have brand preferences, Hoskinson explained, saying this “threatens the advertising-driven models of platforms like Google, Amazon and Facebook.”  “Why do you think Google is interested in x402?” he asked his audience of the Coinbase-backed protocol that enables AI agents and applications to make direct, programmatic payments over the internet using stablecoins and crypto rails.  Hoskinson noted this shift will change how crypto is used, adding that artificial intelligence (AI) will increasingly handle tasks such as due diligence, transaction execution and interaction with decentralized finance.  Hoskinson AI agent forecast echoes that of Coinbase CEO Brian Armstrong, who said “very soon there are going

05-07

AI agents becoming more relevant than humans by 2035 has Big Tech terrified, says Hoskinson

AI agents will become more relevant than humans on the internet within the next decade, a shift already already forcing Google, Facebook and Amazon to react, said Charles Hoskinson.  In his keynote at Consensus Miami 2026 on Wednesday, Hoskinson also said that “by 2035, the majority of searches, commerce and activity on the internet will be AI agents instead of people.”  He said the change threatens existing business models. “Amazon, Google, Facebook, theyre terrified of the agentic revolution,” Hoskinson said, adding that companies are investing heavily because “all of their business models are going to be disrupted.”  AI Agents do not click ads or have brand preferences, Hoskinson explained, saying this “threatens the advertising-driven models of platforms like Google, Amazon and Facebook.”  “Why do you think Google is interested in x402?” he asked his audience of the Coinbase-backed protocol that enables AI agents and applications to make direct, programmatic payments over the internet using stablecoins and crypto rails.  Hoskinson noted this shift will change how crypto is used, adding that artificial intelligence (AI) will increasingly handle tasks such as due diligence, transaction execution and interaction with decentralized finance.  Hoskinson AI agent forecast echoes that of Coinbase CEO Brian Armstrong, who said “very soon there are going

05-07

Ethereum Whales Accumulate Aggressively as ETH Price Rises to $2.4K

Ethereum  Ethereum Whales Accumulate Aggressively as ETH Price Rises to $2.4K  Ethereum accumulation addresses witnessed a surge in daily inflows on Wednesday, suggesting growing confidence in Ethers () long-term price trajectory following its latest rise to $2,400.  Key takeaways:Accumulation addresses absorbed about $592 million in ETH on Wednesday, signalling aggressive long-term buying.Ethers ascending triangle projects an ETH price rally to $3,315.  Ethereum accumulators add $592 million in ETH  Ethers investor confidence has returned following its 39% recovery from a multi-year low below $1,750.  Data from CryptoQuant daily inflows into accumulation addresses have increased steadily since mid-2025, reaching an all-time high of 1.14 million ETH in November 2025. The inflows have continued to climb in 2026, averaging 200,000 ETH per day.  These addresses received 246,620 ETH on Tuesday, worth approximately $592 million at current rates.  Accumulation addresses are wallets that continuously receive ETH without making any outgoing transactions. They may belong to long-term holders, institutional investors, or entities strategically accumulating Ethereum rather than actively trading it.  As a result, the total ETH held by these long-term holders , marking a 20.36% jump so far in 2026.  Large spikes in inflows to these addresses often signal strong confidence in Ethers long-term potential, with past trends showing that such surges frequently precede price

05-07

Ethereum Network Celebrates $8B Tokenized US Treasuries Milestone

Token terminal noted that the number of US treasuries doubled within the last 6 months. This underscored a robust growth pace. The same asset type crossed the $1 billion mark in Q4 2024.  Stripes Bridge Stablecoin Rolls Out on Ethereum Layer 2 Celo  This is yet another noteworthy development for the Ethereum network. The latter has been collecting stablecoins like infinity stones, and this has made it quite powerful in terms of liquidity.  Liquidity plays a vital role in boosting network utility. The Bridge stablecoin, owned by payment giant Strike, is the latest addition to the Ethereum networks ecosystem.  The data also revealed that Celo has been prioritizing stablecoins, and the strategy was paying off. Preliminary information revealed that the total transactions on the Ethereum layer 2 had already surpassed 1.3 billion.  Stablecoin volumes clocked $65 billion by 25 March. Meanwhile, Stripe happens to be one of the biggest payment platforms. Embracing stablecoins may thus boost its reach, especially in the decentralized world.  Stripe‘s strategy with the Bridge stablecoin is somewhat similar to PayPal’s strategy with its PYUSD stablecoin.  Canadas First Regulated Stablecoin Debuts on Ethereum  Bridge was not the only stablecoin making its way into the market through Ethereum this week. Recent reports also revealed that Canada

05-07

Worlds Largest Custodian Bank to Launch Bitcoin and Ethereum Investment Products

Bitcoin Ethereum  Worlds Largest Custodian Bank to Launch Bitcoin and Ethereum Investment ProductsInstitutional adoption intensifiesWhy custody is important  BNY is getting ready to delve further into digital assets. According to reports, the biggest custodian bank in the world intends to start offering cryptocurrency custody services in Abu Dhabi, initially concentrating on Bitcoin and Ethereum.  Institutional adoption intensifies  The decision has significant ramifications for institutional adoption throughout the cryptocurrency market, given that BNY is in charge of about $59 trillion in assets under custody. The timing is important. Digital assets have already seen significant growth in April and the first part of May.  BTC/USDT Chart by TradingView  While Ethereum stabilized following months of poor performance, Bitcoin vigorously recovered from earlier weakness and pushed back above important resistance zones close to the low $80,000 range. Infrastructure tokens, meme coins, and privacy assets all saw significant speculative inflows as risk appetite returned across all altcoins.  Zcash (ZEC) Is Crypto‘s Number One, Toncoin (TON) Dwarfs Solana (SOL), XRP Finally Breaks Key Resistance, but What’s Early: Crypto Market Review  Bollinger‘s Model Says ’Buy Bitcoin  In light of this, BNYs entry into the market through Abu Dhabi suggests something more than a straightforward regional expansion. It illustrates how traditional financial institutions are growing more at

05-07

Ethereum Price Today: ETH Drops to $2,336 After Failing at $2,400 – Bears Are Back in Charge

Ethereum  Ethereum Price Today: ETH Drops to $2,336 After Failing at $2,400 – Bears Are Back in Charge  Ethereum is trading near $2,336 on May 7, 2026, and the chart is not pretty. Unlike Bitcoin, which managed to reclaim its session open after a pullback, ETH has spent most of the last 24 hours in the red with no convincing recovery in sight yet.  The session opened at $2,370.5, ran to a high near $2,400 in the early hours, then sold off in a straight line for the better part of the day. By early morning on May 7, ETH was near a session low of $2,318. The bounce since then has been weak, with price sitting at $2,336 and still well below the opening level.  This is a different session from BTC. Bitcoin at least came back. ETH has not.  What the Chart Says  The sell-off started around 4:00 PM yesterday and barely paused through the overnight hours. No sharp capitulation, no obvious panic flush. Just consistent selling pressure that grinded ETH lower hour by hour.  The session high near $2,400 is where things went wrong. That level has been a ceiling for ETH multiple times in recent weeks. The 200-day moving average sits at $2,367,

05-07

Bitcoin ETFs pull in $1.7B in five-day inflow streak

U.S. spot bitcoin exchange-traded funds have extended their inflow streak to five straight sessions, drawing nearly $1.7 billion as institutional demand has continued alongside Bitcoins recovery above $80,000.Bitcoin ETFs have attracted nearly $1.7 billion during a five-day inflow streak led by strong demand for BlackRocks IBIT.Bitcoin price climbed back above $81,000 as easing tensions between the U.S. and Iran improved investor appetite for risk assets.  According to SoSoValue data, the group of spot bitcoin ETFs recorded $46.3 million in net inflows on Wednesday after BlackRock‘s IBIT brought in $134.6 million, offsetting withdrawals from Fidelity’s FBTC and three other funds. The latest session pushed cumulative inflows during the five-day run to roughly $1.69 billion.  SoSoValue data also showed the ETFs were heading toward a sixth consecutive week of positive net flows, a stretch not seen since July 2025.  Institutional demand has returned while Bitcoin trades between the $81,000 to $82,000 range after recovering from February lows near $62,000.  As reported by crypto.news, Bitcoin climbed back above $81,500 after briefly falling to an intraday low of $80,771 following rejection near a four-month high of $82,751, according to market data.  Investor sentiment improved after reports indicated Iran was reviewing a U.S.-backed ceasefire proposal delivered through Pakistani intermediaries.  Reports said

05-07

USD: Softer tone as Fed seen delaying cuts – MUFG

Finance  USD: Softer tone as Fed seen delaying cuts – MUFG  MUFGs Lloyd Chan notes the US Dollar (USD) has softened as US Dollar Index (DXY) retests support and US yields fall, while equities hit new highs. Recent US data show stronger ADP employment but worrying ISM services inflation and weak employment. MUFG argues this creates a policy dilemma and sees the Federal Reserve (Fed) more likely to delay rate cuts than resume hikes over the next year.  Policy dilemma weighs on Dollar outlook  “On the data front, April ADP employment rose to +109k from +61k in March. But the latest ISM services survey is more concerning. Prices paid rose to a three year high, while services employment stayed in contraction.”  “From a policy standpoint, this creates a dilemma for policymakers. We think the Fed is more likely to delay on rate cuts rather than to pivot back to rate hikes. And should there be meaningful deterioration in labour market conditions, monetary policy may err on the side of easing over the next 12 months – an outcome that remains underpriced by markets.”  “The dollar softened, with DXY retesting support near 97.60, while US 10-year yields fell around 8bp to 4.35%. Brent prices have fallen back

05-07

Toncoin Jumps 32% in 24 Hours as Pavel Durov Pushes Telegram Deeper Into TON

Tech  Toncoin Jumps 32% in 24 Hours as Pavel Durov Pushes Telegram Deeper Into TON  The native token of The Open Network, Toncoin (TON), rose to $2.89, surging by nearly 32% in 24 hours. The jump continued an ascent that began shortly after Telegram founder and CEO Pavel Durov announced a sixfold fee reduction and a major strategic pivot for the network. While the growth was significant, TONs climb was not a straight line; the price wobbled shortly after passing the $2.50 mark for the first time.  Market data shows TON slipped by 12% shortly after reaching $2.53, staying below that level until Wednesday evening. A second rally saw TON climb from $2.45 at 9:20 p.m. EDT on May 6 to $2.89 at 3:09 a.m. EDT on May 7, its highest level since Oct. 7, 2025.  The rally follows what industry analysts, including Elliotrades, describe as a “regime change” for the blockchain. Since a legal battle with the U.S. Securities and Exchange Commission (SEC) forced Telegram to distance itself from the project years ago, TON has been managed independently by the TON Foundation. Durov‘s recent announcement that Telegram will replace the foundation as the network’s largest validator effectively “pulls the chain back inside the

05-07
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