Zondacrypto (formerly BitBay) Faces Estonia FSA Warning

Estonia‘s Financial Supervision and Resolution Authority (FSA) has issued an investor warning against Zondacrypto, operated by BB Trade Estonia OÜ, for alleged non-compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulations. The regulator flagged the exchanges failure to provide a white paper for its “TeamPL” token, a key requirement under MiCA Article 9.  The FSA stated that crypto issuers are obligated to maintain a white paper on their website for as long as the tokens remain publicly traded. Zondacrypto has yet to publicly respond to the warning.  Withdrawal Crisis and Missing Funds  The warning comes at a turbulent time for Zondacrypto, which is already under scrutiny over unresolved withdrawal issues. In April, CEO Przemysław Kral revealed that the exchange could not access a cold wallet containing approximately 4,500 Bitcoin (worth $360 million at the time). Kral blamed the issue on the companys founder and former CEO, Sylwester Suszek, who has been missing since 2022 and allegedly never handed over the private keys.  Kral has denied insolvency rumors, insisting that Zondacrypto will fulfill all customer obligations. However, these assurances have not quelled concerns among users, particularly as Polish authorities opened an investigation into the exchange last month following multiple complaints about frozen withdrawals.  CEOs Silence

05-09

Connecticut passes sweeping AI regulation law SB5

Connecticut SB5 passed both chambers on May 1 and heads to the governor, making it one of the most comprehensive state AI laws in the US.Connecticut SB5 passed 131-17 in the House and 32-4 in the Senate on May 1, with Governor Lamont confirming he will sign the bill.The law covers AI companions, synthetic media transparency, automated employment decision tools, and frontier model developers, with staggered effective dates from October 2026.The law takes effect despite the Trump administrations executive order urging states to avoid burdensome AI regulation, making Connecticut the latest state to defy federal pressure.  Connecticut SB5 passed on May 1, becoming one of the broadest state AI laws in the US. The House voted 131-17 in favor and the Senate passed it 32-4, with bipartisan support in both chambers. Governor Ned Lamont confirmed he will sign the bill, which is now formally titled the Connecticut Artificial Intelligence Responsibility and Transparency Act.  The law covers AI companions, automated employment decision tools, synthetic media provenance, and frontier model developers above defined thresholds.  First effective date is October 1, 2026. Most provisions become enforceable exclusively by the state Attorney General as unfair or deceptive trade practices, with no private right of action.  What the law

05-09

Dogecoin Price Prediction: DOGE Bulls Defend Key Recovery

Tech  Dogecoin Price Prediction: DOGE Bulls Defend Key Recovery  Dogecoin is trading at a key point as two charts show both downside risk and a still active recovery setup. DOGE must clear the $0.118 resistance area to strengthen momentum, while the $0.07 to $0.10 zone remains important if selling pressure returns.  Dogecoin Chart Warns of Deeper Drop as DOGE Tests Long Term Channel  Dogecoin showed a bearish higher time frame setup on the three week chart, according to a TradingView chart shared by Crypto Patel on X.  The chart places DOGE inside a long term descending channel that has shaped price action since earlier market cycles. Each major rejection near the upper channel area led to deeper pullbacks, and the latest setup again shows price near resistance.  DOGE Long Term Descending Channel. Source:  DOGE also faced a strong rejection zone near the $0.08 to $0.10 area on the chart. The analyst marked this region as important because price failed to break cleanly above it during the latest move.  The chart also points to a possible move lower before any larger recovery attempt. Crypto Patel marked the $0.10 to $0.07 area as an accumulation zone, suggesting that this range could become important if selling pressure continues.  However, the same chart

05-09

MiCA Decoded: We Have an EU Office Is Not Enough: Heres What Regulators Actually Want to See

Tech  MiCA Decoded: ‘We Have an EU Office’ Is Not Enough: Heres What Regulators Actually Want to See  MiCA Decoded is a 12-article weekly series for News, co-authored by LegalBisons Co-Founding and Managing Directors: Aaron Glauberman, Viktor Juskin and Sabir Alijev. LegalBison advises and FinTech companies on MiCA licensing, CASP and VASP applications, and regulatory structuring across Europe and beyond.  Most founders approaching their first CASP application understand, at least abstractly, that MiCA requires a real EU presence. What they underestimate is how the regulator defines “real.”  The typical early-stage setup looks coherent on paper: a registered office in a favorable EU jurisdiction, a director named in the governance documents, ICT systems either cloud-hosted or managed from the groups global infrastructure, and paid-in capital sitting in a newly opened bank account.  From the inside, this feels like an EU company. From a National Competent Authoritys perspective, it may look like a letterbox with a director attached.  This article maps what MiCAs substance requirements actually demand across personnel, technology, and financial resilience, and explains why regulators treat each category as a functional test rather than a documentation exercise.  The concern driving all of it is the same: preventing letterbox companies, entities that exist on paper in a favorable

05-09

ETH Price Prediction: $2,400 Bounce Before $2,100 Breakdown Within 14 Days

Market Context: Why ETH is Moving Now  Ethereum has trapped bulls in a textbook false breakout pattern after failing to hold above $2,346. The 2.80% daily slide reveals the fragility beneath Januarys institutional adoption narrative that drove early 2026 price targets toward $3,357. Trading at $2,271, ETH sits below critical moving averages while funding rates have flipped negative at -0.0010%, signaling that futures traders are finally pricing in downside risk.  The shift in market structure is undeniable. Where Blockchain.news previously highlighted strong institutional interest during Q1s rally, current positioning shows smart money reducing exposure rather than adding. Network upgrade catalysts that once drove price appreciation appear fully absorbed by current valuations.  Technical Picture Deteriorates  The indicator complex reveals a market losing momentum across multiple timeframes. RSI has stalled in neutral territory while MACD momentum has collapsed to zero, showing neither buyers nor sellers have conviction. More concerning is ETHs position within the Bollinger Bands at just 0.20, essentially trading against the lower boundary as selling pressure builds.  Support at $2,242 offers little comfort given the recent volatility range of $69. Any meaningful selling could penetrate multiple support levels rapidly. The stochastic readings in oversold territory might attract bottom fishers, but in weakening trends, these conditions

05-09

Aave Recovers Exploited rsETH Funds as $71M ETH Return Moves Forward

The post Aave Recovers Exploited rsETH Funds as $71M ETH Return Moves Forward appeared first on Coinpedia Fintech News  Aave says its rsETH recovery process has entered Phase II after major progress in resolving the exploit tied to Aave V3 on Ethereum and Arbitrum.  According to the protocol, the attackers eight identified Aave V3 positions were successfully liquidated on May 6, with the recovered rsETH collateral transferred to the Recovery Guardian under an Aave DAO-approved proposal.  At the same time, governance proposals backed by both Mantle DAO and Arbitrum DAO were passed to support the broader DeFi United recovery effort.  Aave noted that normal users and Umbrella stakers were not impacted during the liquidation process.  $71 Million Recovery Plan Faces Legal Complications  A major part of the recovery effort involves the $71 million worth of ETH recovered by Arbitrums Security Council.  The Arbitrum DAO voted to return the recovered funds to Aave users, but the process was temporarily disrupted after plaintiffs holding judgments against North Korea issued a restraining notice targeting the frozen ETH.  In response, Aave LLC filed an emergency motion asking the court to vacate the notice. Following a May 6 hearing, the judge approved a proposal allowing the immobilized ETH to be transferred to Aave

05-09

Ethereum Is Going Up While Shorts Are Piling In: Find Out What Usually Follows

Ethereum  Ethereum Is Going Up While Shorts Are Piling In: Find Out What Usually Follows  Ethereum has lost ground below $2,300 as the market cools after weeks of cautious recovery. The price is retreating — but a CryptoQuant report tracking Binance derivatives activity has identified a dynamic beneath the surface that complicates the bearish reading considerably.  The data shows that derivatives traders on Binance have been aggressively betting against Ethereum throughout the recent rebound — and they are still adding to those positions even as the price pulls back. Cumulative net taker volume has dropped to approximately -$585 million, its deepest negative reading since March 27, when the metric reached around -$340 million. In the weeks between those two readings, the short-selling pressure has not only persisted — it has intensified.  That intensification is happening simultaneously with rising open interest on Binance, which has climbed from approximately $2.46 billion to $2.9 billion during the first week of May. Rising open interest alongside deeply negative taker volume describes a specific market structure: traders are not simply reducing long positions. They are actively building new short exposure into a market that has been recovering.  The significance of that setup is counterintuitive. Heavy short positioning during a recovery

05-09

Ethereum Dominance in DeFi Falls to 54%, Is ETH Losing Control of Biggest Market? 

Ethereum  Ethereum Dominance in DeFi Falls to 54%, Is ETH Losing Control of Biggest Market?  The post Ethereum Dominance in DeFi Falls to 54%, Is ETH Losing Control of Biggest Market? appeared first on Coinpedia Fintech News  Ethereum, the second-largest cryptocurrency by market cap, has seen its dominance in the DeFi market fall to around 54%, down from 63.5% earlier this year, as competing blockchains continue capturing a larger share of the crypto ecosystem.  Now the big question is Ethereum losing its grip on DeFi dominance? While ETH price has recovered to nearly $2,314.  Ethereum Dominance in DeFi Falls to 54%  According to DeFiLlama data, Ethereum‘s share of total DeFi TVL dropped from 63.5% at the start of 2025 to roughly 54% this month, marking one of the network’s weakest dominance levels in years.  DeFiLlama currently values Ethereums total value locked at approximately $45.4 billion, far ahead of most competing blockchains.  However, other networks are rapidly absorbing market share by focusing on specialized use cases across the crypto ecosystem. Current DeFi TVL market share now stands at:Solana: 6.66%BNB: 6.60%Bitcoin ecosystem: 6.35%TRON: 6.17%Base: 5.44%Hyperliquid ecosystem: 1.81%  This shift suggests DeFi is evolving from a single Ethereum-centered ecosystem into a multi-chain market where each blockchain focuses on specific sectors like stablecoins,

05-09

Ethereum Price Prediction: Bulls Face $2.4K Wall as $4.9K Setup Builds

Ethereum  Ethereum Price Prediction: Bulls Face $2.4K Wall as $4.9K Setup Builds  Ethereum is still stuck below the $2,400 area, but higher time frame charts show a wider bullish setup forming. ETH now needs to clear moving average resistance before the $4,900 target comes back into focus.  Ethereum Struggles Below $2.4K as ETH Range Stays in Play  Ethereum remained below the $2,400 area on the weekly chart as price struggled to break above a major moving average zone, according to a TradingView chart shared by Daan Crypto Trades on X.  The chart shows ETH trading inside a wider range between about $2,100 and $2,800. Price has recovered from its earlier low near the $1,750 area, but it has not cleared the upper moving average resistance.  ETH Weekly 200MA and 200EMA Range. Source:  The weekly 200MA and weekly 200EMA sit above the current ETH price zone. These moving averages remain important because they often act as resistance when price trades below them.  However, ETH still holds above the lower part of the marked range. The $2,100 to $2,166 area acts as near term support, while the $2,815 to $2,851 area marks the upper resistance zone.  For now, Ethereum remains range bound. A move above the $2,400 area would put the

05-09

Judge clears path for Aave to move $71 million in ETH linked to North Korea hack

A Manhattan federal judge has cleared the way for Aave‘s recovery effort to move forward after last month’s North Korea-linked rsETH exploit, allowing $71 million in frozen ether to be transferred out of Arbitrum while preserving North Korean terrorism victims legal claim on the funds.  In a two-page order published late Friday U.S. time, Judge Margaret Garnett modified a restraining notice previously served on Arbitrum DAO to allow an onchain governance vote transferring the immobilized ETH to a wallet controlled by Aave LLC.  The order also shields participants from liability under the notice, stating that anyone who initiates, votes on or participates in the transfer would not violate the freeze.  Judge Garnett‘s ruling follows an earlier off-chain Snapshot temperature check in which Arbitrum delegates overwhelmingly signaled support for returning the frozen ETH as part of Aave’s broader recovery plan. Any actual transfer, however, still requires a separate binding onchain governance vote.  The ruling resolves an immediate standoff that had threatened to derail a coordinated DeFi recovery effort after attorney Charles Gerstein, representing families holding roughly $877 million in unpaid terrorism judgments against North Korea, argued the frozen ETH could be seized because the exploit has been widely attributed to Lazarus Group, which is supported

05-09
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