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Solv Protocol is moving over $700 million in tokenized BTC assets to Chainlink's (LINK) Cross-Chain Interoperability Protocol (CCIP) and will phase out support for its LayerZero (ZRO) bridge. According to CoinDesk, Solv has adopted Chainlink CCIP as its new standard bridge infrastructure, a decision influenced by recent cross-chain security incidents and an internal security review. As a result, LayerZero bridge support will be discontinued on the Corn, Berachain, Rootstock, and TAC networks.

Aave has announced plans to completely overhaul its collateral assessment and listing standards following the recent KelpDAO hack, CoinDesk reported. The protocol will now evaluate all future collateral assets not only on price volatility but also on factors such as cybersecurity, interoperability, and technical architecture. Additionally, Aave will revamp and publish a minimum standards playbook for issuers seeking to list on the protocol. Linda Jeng, Chief Legal and Policy Officer at Aave Labs, stated that while the protocol's existing risk management framework is robust, it has been overly focused on financial risk and volatility. She added that unlike traditional financial crises where governments had to bail out banks, the DeFi ecosystem came together to save itself, and that navigating such a crisis naturally leads to higher standards.

On-chain analyst ZachXBT has accused LAB token founder Boba Sadikov of market manipulation. ZachXBT stated that Sadikov used centralized exchanges to manipulate the market while posting philosophical content on X, leading to losses for retail investors. He has offered a $10,000 bounty for anyone who can provide evidence of the alleged manipulation.

Mantle (MNT) has announced it is phasing out the minting of its liquid restaking token, cmETH. Accordingly, new issuance of cmETH has been suspended as of May 7, while unstaking and bridging functions will continue to be supported for existing users. The operations of other services on the mETH protocol are not affected.

The German government is planning to reform its tax system for Bitcoin and other cryptocurrencies starting in 2027, Cointelegraph reported. Finance Minister Lars Klingbeil announced the policy to change the virtual asset tax method during a press conference on the 2027 budget on April 29. Under current German law, cryptocurrencies sold within one year of acquisition are subject to tax, but capital gains on assets held for more than one year are tax-exempt. This policy has made Germany a leading European country favorable to long-term investors. Cointelegraph noted that while Klingbeil did not directly mention the tax exemption for long-term holdings, industry groups such as the German Bitcoin Association believe the government is highly likely to target the exemption first in its efforts to expand crypto tax revenue.

The total market capitalization of stablecoins rose 1.6% in April to a new all-time high of $321 billion, CoinDesk reported. This marked the third consecutive month of growth for stablecoins, occurring while the broader cryptocurrency market moved sideways. Tether led the market with a capitalization of $190 billion, accounting for more than half of the total stablecoin supply.

A joint proposal to unfreeze approximately $71 million in ETH is expected to pass today, CoinDesk reported. The funds were frozen by the Arbitrum (ARB) Security Council following an exploit of Kelp DAO. The proposal's passage is anticipated to accelerate the recovery of rsETH collateral. Submitted jointly by Aave (AAVE) Labs, Kelp DAO, and LayerZero (ZRO), the measure would allow the DeFi United recovery project to restore a portion of the rsETH collateral. Upon approval, the proposal will advance to the final on-chain governance stage.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Coinbase has announced the addition of NEX to its listing roadmap.

Beth Hammack, president of the Federal Reserve Bank of Cleveland, said it would be misleading to signal that the Fed's next move will be a rate cut.

The number of new addresses on the XRP network has plummeted by 85% from a daily average of 18,000 last December to around 2,700 currently, according to on-chain analytics firm Glassnode. The monthly active supply also saw a sharp decline during the same period, falling from 7.45 billion XRP to 2 billion XRP. This suggests that most of the speculative capital that fueled the XRP rally in late 2024 has since left the market.

Lido (LDO) announced it will soon resume operations for its EarnETH vault, which was suspended following a $292 million (116,500 rsETH) bridge hack involving KelpDAO. Following the resumption, users will once again be able to make deposits and withdrawals normally. Meanwhile, Lido has continued to distribute rewards throughout the suspension period.

An address linked to Hong Kong-based digital asset manager Metalpha has deposited 27,000 ETH, worth $62.78 million, to Binance over the past hour, Lookonchain reported. Deposits to exchanges are typically interpreted as an intention to sell.

Amazon Web Services (AWS) announced it has partnered with Coinbase and Stripe to launch a payment infrastructure specifically for AI agents. The feature is designed to enable AI agents to directly access and pay for web content, APIs, MCP servers, and other agent services. This payment system is built on Coinbase's x402 protocol and CDP wallet infrastructure, as well as wallet technology from Privy, a subsidiary of Stripe. Users can connect stablecoin or fiat-based funds to set spending limits for each AI agent.

The three major U.S. stock indices opened higher today. - S&P 500: +0.13% - Nasdaq: +0.10% - Dow Jones: +0.15%

Crypto asset manager Bitwise announced it plans to acquire Superstate's USTB fund on June 1. Following the acquisition, the fund will be renamed the "Bitwise Crypto Carry Fund," while its existing Superstate blockchain infrastructure will be maintained. The fund, identified as USCC, currently holds approximately $267 million in assets under management.

Bitcoin OG Garrett Jin has issued a strong warning to the market as BTC approaches $83,000, Blockbeat reported. Jin described the current U.S.-Iran ceasefire as a disguised peace, arguing that significant financial risks are accumulating beneath the surface. Despite strong earnings from Apple and AMD and Bitcoin's ongoing rally, he pointed to several signs that cracks in the credit market have already begun, including: - Banks increasing their loan loss provisions - Warren Buffett's record-high cash reserves - The bankruptcy of Spirit Airlines He advised investors to remain vigilant, suggesting that late May or the July earnings season could be a true day of reckoning for the market.

Research and brokerage firm TD Cowen has raised its price target for MicroStrategy (STRC) to $395 from $385, The Block reported. The firm noted that MicroStrategy's strategy of accumulating Bitcoin through the issuance of preferred stock has demonstrated higher-than-expected capital efficiency.

Prediction market platform Kalshi has completed a new $1 billion investment round led by Coatue Management, The New York Times reported. The company was valued at approximately $22 billion. Participants in the round included Sequoia Capital, Andreessen Horowitz (a16z), IVP, Paradigm, Morgan Stanley, and Ark Invest. Kalshi plans to use the funds to expand its services for corporate clients.

U.S. initial jobless claims for last week totaled 200,000, coming in below the forecast of 205,000. Weekly jobless claims are a key metric the Federal Reserve uses to gauge the labor market when making interest rate decisions. A higher-than-expected reading can signal that companies are increasing layoffs, indicating a cooling labor market and potentially giving the Fed a reason to cut interest rates. Conversely, a lower-than-expected figure suggests a robust labor market, which could allow the Fed to maintain its focus on curbing inflation by holding or raising rates.

Stablecoin issuer Circle has announced the official launch of USDC and its Cross-Chain Transfer Protocol (CCTP) on the Injective (INJ) network.

Kraken has acquired Asia-based stablecoin infrastructure firm REAP for $600 million, according to a report from Unfolded.

Coinbase has announced the listing of KAIO perpetual futures. Trading will be supported starting today, May 7, provided liquidity conditions are met.

Bitcoin's current hesitation near its key 200-day simple moving average (SMA) mirrors patterns seen in past bear market rallies, CoinDesk reported. The 200-day SMA is a primary indicator for long-term trends, and if Bitcoin can secure a stable position above this line, the market may interpret the drop to $63,000 earlier this year as the end of the bear market, potentially heralding a new bull cycle. However, the outlet pointed to a historical precedent from March 2022, when Bitcoin rallied to around $48,000 and briefly surpassed the 200-day SMA, only to plummet to approximately $20,000 by June. Despite this cautionary tale, the current market environment remains largely favorable, with factors like falling oil prices, strong gold prices, inflows into spot ETFs, and improving on-chain metrics bolstering bullish expectations.