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Capital B, a publicly traded European firm strategically accumulating Bitcoin, announced it has secured a €1.1 million ($1.28 million) investment from Blockstream CEO Adam Back. The company also lowered the conversion price of bonds held by Back by approximately 50%, from €5.174 to €2.59 per share. Upon conversion, Back will be granted additional share purchase rights with a two-year maturity. Existing share price conditions have been removed, allowing him to convert the bonds into stock at his discretion.

Crypto market maker Wintermute deposited 17.16 million B, worth $6.67 million, to Gate.io five hours ago, according to ai_9684xtpa. In the three hours following the transfer, the price of B fell 16.8% from $0.3914 to $0.3257. Wintermute currently holds $33,000 worth of B.

Institutional investors are purchasing more than five times the daily mining volume of BTC, according to Charles Edwards, founder of Capriole Investments. He noted that in similar situations in the past, the price of BTC has risen by an average of 24% within a month, suggesting that the cryptocurrency could potentially reach $96,000.

Whale Alert reported that 1,000 million USDT has been minted at the Tether Treasury.

South Korea's Financial Intelligence Unit (FIU) will meet with virtual asset exchanges after May 11 to discuss proposed amendments to the Act on Reporting and Using Specified Financial Transaction Information, Edaily reported. The meeting aims to address industry concerns about excessive regulation and find a mutually acceptable solution. The legislative notice period for the amendments, which the FIU announced on March 30, is set to conclude on May 11. The proposed changes include a requirement for domestic operators to report all transactions over 10 million won with overseas operators and private wallets to the FIU as suspicious transactions.

U.S. law firm Gerstein Harrow LLP has filed a lawsuit to seize 30,766 ETH, worth $73 million, that was frozen by Arbitrum (ARB) following the Kelp DAO hack, Cointelegraph reported. Gerstein Harrow's clients claim they are entitled to over $877 million from three separate, successful lawsuits against North Korea for past hacking incidents. The firm argues that because its clients won these judgments, they have a rightful claim to the frozen funds. A New York court has reportedly approved a restraining and execution order, prohibiting Arbitrum from moving the assets. Kelp DAO suffered a $292 million hack on April 18, after which the Arbitrum Security Council froze the 30,766 ETH in an address linked to the hacker. Arbitrum had planned to transfer the funds to DeFi United, a relief fund for hacking victims, to compensate users. However, the lawsuit is now expected to delay this recovery process. Gerstein Harrow has previously filed similar lawsuits, including in a case involving a Bybit hack. Arbitrum has stated its position that the seizure action is unjust, saying it "delays the return of victims' funds."

An analysis suggests that Bitcoin's rebound near the average entry price of institutional investors established after the approval of spot ETFs is now acting as a key support level. In a contribution to CryptoQuant, on-chain analyst CryptoDan noted that the current cycle is structurally different from previous ones. While some indicators suggest it is too early to declare a market bottom, he argued that the large-scale inflow of institutional funds via spot ETFs is a new variable not seen in past cycles. Consequently, CryptoDan believes the current downtrend may unfold differently, and investors should position themselves accordingly. He advised closely watching the depth and scale of the correction or pullback that may follow the current rebound. A strategy of buying in installments during significant corrections could prove effective, he added.

Ethereum has completed its Glamsterdam upgrade as of May 1, enabling more transactions to be processed faster and at a lower cost, FinanceSpeed reported. A significant increase in the gas limit has expanded available block space, lowering the cost of smart contract interactions such as decentralized exchange (DEX) transactions and large-scale NFT minting. Additionally, the cost of Layer 2 data settlement has been reduced by 70%, a change expected to intensify fee competition among major Layer 2 networks. Ethereum had previously stated its goals for the upgrade were to recapture market share from high-performance competing chains and to provide the necessary computational resources for next-generation dApps. The project plans to eventually transform into a high-performance financial engine capable of supporting hundreds of millions of daily active users.

An analysis suggests a potential trend reversal for BTC, driven by improvements in the ratio of MicroStrategy's (MSTR) stock price to the price of BTC. Real Vision crypto market analyst Jamie Coutts noted on X that the MSTR/BTC ratio has served as a leading indicator for BTC in the last two cycles. He explained that in the 2022 cycle, the MSTR/BTC ratio bottomed out and began making higher lows several weeks before BTC started to recover. Coutts emphasized that the indicator has now shifted from a bearish to a neutral range. While it is too early to confirm a bullish turn, he is watching for a potential trend reversal in the coming weeks.

North Korea has denied allegations that it is behind recent international cryptocurrency hacking incidents. In a response to a question from the Korean Central News Agency (KCNA) on May 3, a spokesperson for the North Korean Ministry of Foreign Affairs called the claims "false information and absurd slander for political purposes." The spokesperson accused the U.S. of attempting to spread a false perception of North Korea by using government agencies, compliant media, and conspiracy groups to publicize a non-existent "cyber threat." They added that it is unfitting for the U.S., which they claimed controls global IT infrastructure and conducts indiscriminate cyberattacks, to portray itself as a victim. The international community and U.S. intelligence agencies have identified North Korean-linked hacking organizations, such as the Lazarus Group, as the primary culprits. North Korean hackers are estimated to have stolen over $6 billion in cryptocurrency since 2017 and accounted for 64% of all hacking damages in 2025.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 50.14% long, 49.86% short - Binance: 53.5% long, 46.5% short - OKX: 54.55% long, 45.45% short - Bybit: 53.43% long, 46.57% short

Bitcoin (BTC) may not fall below $60,000 again, U.Today reported. The analysis is based on Bitcoin's 200-week moving average (200WMA) officially surpassing the $60,000 mark. Historically, this indicator has acted as a key support for the price floor, except in extreme bear markets, suggesting a structural rise in the baseline. Separately, anonymous crypto trader DonAlt, who has approximately 710,000 followers on X, suggested that a breakout above $87,000 for BTC would trigger a strong bullish reversal across the broader market.

The U.S. Commodity Futures Trading Commission (CFTC) has received more than 1,500 comment letters on its proposed regulations for prediction markets, Cointelegraph reported. The comment period pertains to rules proposed by the CFTC in March that would allow for modifying existing regulations or introducing new ones for event contracts within these markets. In a letter, Kalshi co-founder Luana Lopes Lara stated that the current regulations are effectively designed and that the CFTC should provide clear guidelines to allow event contracts to continue trading. In contrast, Kevin O'Toole, Executive Director of the Pennsylvania Gaming Control Board, expressed a dissenting view, arguing that prediction market platforms are effectively operating like sports betting in a regulatory blind spot.

Jin Sung-joon, a Democratic Party lawmaker and chairman of the National Assembly's Special Committee on Budget and Accounts, has reiterated his position that virtual assets should be taxed starting in 2027 as scheduled, Digital Asset reported. Jin is a prominent advocate for implementing the tax. During a May 4 appearance on the MTN News program "Yeouido Crossroads," he affirmed his support for proceeding with the tax plan. This follows his previous calls for taxation at the end of 2024, when he served as the Democratic Party's policy committee chairman. At the time, Jin argued that it would be irresponsible to delay the tax again without a compelling reason and suggested raising the deduction limit to 50 million won to target large-scale asset holders.

Veteran trader Peter Brandt predicted that Bitcoin (BTC) could reach approximately $250,000 by 2029, CoinDesk reported. He suggested the market bottom is likely to form in September or October of this year. Brandt noted that while BTC does not necessarily have to retest its recent lows, a period of sideways trading or a further decline could follow any rebound. In a worst-case scenario, he said a return to the $40,000-$50,000 range is possible. However, Brandt added that he would revise his forecast if the price action deviates from previous halving cycles.

Dogecoin (DOGE) has recovered its upward momentum after a prolonged period of sideways movement, CoinDesk reported. According to the outlet, DOGE rose from $0.1075 to $0.1119, establishing a pattern of higher lows and breaking through the key resistance level of $0.109. The increase was characterized by a surge in trading volume over a short period rather than a gradual trend. The price is currently holding around $0.111, and whether this level can be maintained as support is considered crucial.

Bitcoin's ongoing rally is being sustained by leverage demand, indicating a continued lack of market confidence, CoinDesk reported. The outlet noted that last month, BTC's price increase was driven by futures demand while spot demand declined. This divergence has historically created a fragile environment where price rallies are prone to reversal. While there is still potential for further gains, the market could react sensitively to a slowdown in capital inflows or a shift in positioning. CoinDesk pointed out that in the past, similar conditions have more often led to sharp downturns rather than sustained upward trends.

Swell Network (SWELL) announced that it burned a total of 859.9 million SWELL tokens in April. This represents 8.6% of the total supply.

The KOSPI index broke the 6,900 mark for the first time in its history during intraday trading, continuing to set new all-time highs. The index is currently trading at 6,901.02, up 4.58% from the previous trading day.

The term 'stablecoin' is outdated and in need of a change, Cointelegraph reported. Robert Hackett, head of crypto projects at a16z, argued that the name is merely a legacy from the early days of cryptocurrency. He stated that it was a defensive term created to emphasize its value peg to fiat currencies amid extreme volatility, but now that stability is a given, the focus has shifted to what can be done with the technology. John Palmer, president of CBOE Digital, agreed, calling the name "overly passive" and adding that the technology has the potential to expand the influence of cryptocurrency more than tenfold. The stablecoin market is currently valued at around $321 billion and is seeing gradual adoption. Hackett added that while alternative terms like "digital cash" or "programmable cash" have been proposed, they lack impact, and he suggested that stablecoins may eventually be referred to simply as "money" without a special designation.

Lyra (LIT), a decentralized perpetual futures exchange (Perp DEX), has released the second version (V2) of its mobile app, the project announced via its official X account. The new version features improvements to the interface and speed and is available for both Android and iOS.

An anonymous whale address starting with 0x55e deposited 6,200 ETH, worth $14.54 million, to Binance over the past 24 hours, on-chain analyst ai_9684xtpa reported via X. Deposits to exchanges are typically interpreted as an intention to sell. The average price at the time of the deposit was $2,346.

Ali Nikzad, Deputy Speaker of the Iranian Parliament, stated in an interview on May 2 from the coast of the Strait of Hormuz that the strait will not return to its pre-war condition and that Iran will not retreat from its position on the waterway. Nikzad added that the parliament is scheduled to approve a bill on the management of the Strait of Hormuz. He outlined its main provisions, which include: - A permanent ban on Israeli vessels transiting the waterway - A requirement for ships from nations deemed hostile to pay war reparations - A mandate for all other vessels to obtain prior permission from Iran to pass

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $133.10 million liquidated (94.87% shorts) - ETH: $79.41 million liquidated (85.59% shorts) - ZEC: $11.03 million liquidated (93.55% shorts)

According to CoinNess market monitoring, BTC has risen above $80,000. BTC is trading at $80,160.64 on the Binance USDT market.