Day: May 7, 2025

Tether launches on Kaia, brings USDt to LINE’s 196M user ecosystem

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Tether has deployed its flagship stablecoin, USDt, on the Kaia blockchain as part of a broader collaboration with Line Next, the Web3 arm of Line, Japan’s popular messaging platform with about 200 million monthly active users. The integration means USDt (USDT) will now be supported across Line’s messenger-based Mini DApp ecosystem and self-custodial wallet, enabling users to interact with stablecoins inside an interface they already use daily, Tether said in a May 7 announcement. Line users will be able to use USDt for in-app payments, cross-border transfers and decentralized finance…

Bitcoin pushes for $98K as 2025 Fed rate cut odds flip ‘pessimistic’

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Key points: Bitcoin and gold trade in lockstep on low timeframes as macro volatility triggers heighten. The Federal Reserve interest rate decision and news conference are just hours away. Market sentiment for rate cuts in 2025 decreases sharply ahead of the FOMC meeting. Bitcoin (BTC) saw a flash short-term trend change on May 7 as geopolitical triggers gave risk assets fresh volatility. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView Bitcoin traders eye Fed for “tone changes” Data from Cointelegraph Markets Pro and TradingView showed an abrupt turnaround for BTC/USD after the pair…

Metaplanet reaches 5,555 Bitcoin milestone with latest 555 BTC buy

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Japan’s Metaplanet purchased an additional 555 Bitcoin as part of its aggressive accumulation strategy, bringing its total holdings to 5,555 BTC, valued at over $536 million at current prices. On May 7, the Tokyo-listed firm disclosed that it spent $53.4 million acquiring 555 Bitcoin (BTC) at an average price of $96,134. The company now holds 5,555 BTC, purchased for $481.5 million at an average price of $86,672 per Bitcoin, according to CEO Simon Gerovich. The company also announced the issuance of another $25 million in zero-coupon ordinary bonds to fund…

Movement Labs terminates co-founder Rushi Manche, launches new firm

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Movement Labs confirmed the termination of its co-founder, Rushi Manche, following controversy over a market maker deal that he brokered. Movement Labs made the announcement in a May 7 X post, stating it had “terminated Rushi Manche.” The project said it “will continue under a different leadership.” The post also alludes to upcoming governance changes. The termination follows Movement Labs announcing Manche’s suspension earlier this month, explaining that the “decision was made in light of ongoing events.” It also comes after Coinbase’s recent decision to suspend the Movement Network (MOVE)…

Saylor urges Microsoft to ditch bonds, buy Bitcoin to avoid destroying capital

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Key Takeaways Michael Saylor advises Microsoft to buy Bitcoin instead of bonds to increase shareholder value. Saylor claims Bitcoin outperformed Microsoft’s stock and suggests it as 21st-century money. Share this article Strategy Executive Chairman Michael Saylor has urged Microsoft to abandon bonds and stock buybacks in favor of adopting Bitcoin, arguing it would create more shareholder value while reducing corporate risk. “Microsoft should be powered by digital capital,” Saylor said at Strategy World 2025, the company’s annual flagship conference. “Bitcoin is the highest-performing uncorrelated asset.” Bitcoin has dramatically outperformed Microsoft’s…

Movement Labs terminates co-founder Rushi Manche amid leadership restructuring

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Key Takeaways Movement Labs has terminated co-founder Rushi Manche amid controversies and plans a new leadership structure. The MOVE token price plummeted following governance issues and is facing delisting from Coinbase. Share this article Movement Labs has terminated Rushi Manche, the project’s CEO and co-founder, amid a leadership overhaul following recent controversies and a Coinbase delisting announcement. “Movement Labs has terminated Rushi Manche. Movement will continue under different leadership,” the company announced Tuesday on X, noting that a revised governance structure and leadership details would be shared “soon.” The decision…

Hacker from 2022 Voltage Finance exploit moves ETH to Tornado Cash

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A hacker involved in the $4.67 million exploit of the decentralized finance lending protocol Voltage Finance in 2022 has moved some of the stolen Ether to Tornado Cash after a short hibernation.  Blockchain security firm CertiK said in a May 6 post to X that the 100 Ether (ETH), worth $182,783 at current prices, was moved from a different address initially used in the exploit but can be traced back to the hacker.   In March 2022, the exploiter took advantage of a “built-in callback function” in the ERC677 token standard…

Bigger Bitcoin wallets are stacking while others sell: Santiment

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Key takeaways: Large Bitcoin holders have accumulated 81,338 BTC over the past six weeks, showing confidence in a future price uptrend. Wallets with less than 0.1 BTC sold around 290 BTC, indicating smaller retail investors are either panic selling or selling out of boredom.  Spot Bitcoin ETFs have seen $4.41 billion in inflows since March 26. While larger Bitcoin holders remain confident and continue accumulating the asset, data from a crypto analytics platform shows that smaller retail investors have been shedding BTC amid the asset’s prolonged consolidation below the $100,000…

Cardano Bounce Losing Strength? ADA Recovery Could Fade Soon

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Cardano price started a recovery wave from the $0.6420 zone. ADA is now facing resistance near $0.6850 and might decline again. ADA price started a recovery wave from the $0.6420 zone. The price is trading below $0.680 and the 100-hourly simple moving average. There was a break above a connecting bearish trend line with resistance at $0.650 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $0.6850 resistance zone. Cardano Price Faces Resistance In the past few…

BlackRock Bitcoin ETF clocks 16 days of inflow as BTC reclaims $97K

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Investors have been piling into BlackRock’s spot Bitcoin exchange-traded fund for over three weeks straight, culminating in the asset’s run up to $97,000 on May 7. The BlackRock iShares Bitcoin Trust has seen 16 days of inflows for the spot BTC ETF, with a further 280 Bitcoin (BTC) or around $36 million piling into the fund on May 6, according to HODL15Capital.   The inflow streak was noted by ETF Store President Nate Geraci, who also observed on X that the fund was approaching $5 billion in new capital.  “I remember…