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Goldman Sachs has pushed back its forecast for the next U.S. Federal Reserve rate cuts by one quarter, citing stronger-than-expected inflation, Bloomberg reported. In a report on May 8, the bank said it now expects the next two rate cuts to occur in December 2026 and March 2027. Goldman analysts noted that rising energy costs could keep the core Personal Consumption Expenditures (PCE) price index at around 3% this year, above the Fed's 2% target. This, they added, could delay the point at which conditions are met for the Fed to begin easing its monetary policy.

BTC perp long/short ratios on top exchanges by open interest 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: 50.27% long, 49.73% short - Binance: 51.64% long, 48.36% short - OKX: 51.13% long, 48.87% short - Bybit: 54.14% long, 45.86% short

Trump Media & Technology Group (DJT) announced a net loss of approximately $405.9 million for the first quarter of 2026. The company attributed the majority of the loss to write-downs on its cryptocurrency and stock holdings, stating that unrealized losses from these assets reached about $368.7 million in the first quarter. The company currently holds 9,542 BTC and 756 million CRO.

Ethereum's share of the total value locked (TVL) in decentralized finance (DeFi) has fallen to approximately 54% as of May 7, down from 63.5% at the beginning of the year, CryptoSlate reported, citing data from DeFiLlama. This figure is approaching its lowest level in recent years. Despite the decline in market share, Ethereum remains the largest network within the DeFi ecosystem, maintaining a TVL of about $45.4 billion. The market attributes this trend to the diversification of DeFi liquidity, driven by the growth of competing chains such as Solana, Base, and BNB Chain.

A U.S. Manhattan federal court has authorized the transfer of approximately $71 million in ETH that was frozen in connection with an exploit linked to the North Korean hacking organization Lazarus Group. According to Unfolded, Judge Margaret Garnett partially modified a previous asset freeze order. The ruling allows Aave (AAVE) to move ETH associated with an Arbitrum-based rsETH exploit to a protocol-managed wallet, following a governance vote. However, the court upheld an approximately $877 million claim against North Korea by victims of terrorism and also established legal protections for governance participants. The market is noting this case as an example of a DeFi protocol collaborating with the courts to create procedures for asset recovery and management amid state-sponsored hacking incidents. Some analysts have also suggested that DAO governance votes could evolve into a hybrid form, incorporating legal validity beyond simple decentralized decision-making.

Zhang Rongxuan, a former special diver in the Singaporean navy, has been sentenced to six years and 10 months in prison for stealing approximately 1.7 million USDT from a friend's cold wallet by secretly photographing its seed phrase. According to local reports, Zhang obtained an apartment access card at a social gathering and entered the victim's home while it was empty to take the picture. He then used the stolen funds to purchase luxury watches, gamble, and pay off a mortgage. Zhang pleaded guilty to multiple charges, including computer misuse and money laundering, with the court noting that sufficient restitution had not been made.

The Bank of Canada (BoC) has indicated that regulations for Canada-based stablecoins could be introduced in the middle or latter half of 2027, Reuters reported. During testimony before the Canadian Senate, BoC Senior Deputy Governor Carolyn Rogers stated that while significant work on the regulatory design is underway, the original plan to introduce the rules in early 2027 was ambitious. She explained that the actual implementation is more likely to occur in mid or late 2027.

Ethereum-based Tether (USDT) recorded a net outflow of approximately $1.29 billion from exchanges on May 9, its largest in about three months, according to on-chain analytics firm Santiment. Santiment explained that when stablecoins move off exchanges, it suggests investors are reallocating funds to self-custody wallets, DeFi, or OTC markets rather than keeping them on exchanges for immediate purchases. The firm analyzed that such a large-scale outflow is typically characteristic of institutional or whale investors and likely represents a repositioning to build new positions rather than a complete exit from the crypto ecosystem.

Blockchain engineering firm Antier Solutions has secured $3 million in funding. The round was led by Indian venture capital firm GVFL. The company plans to use the funds to expand its platform products, increase adoption within the government and financial services sectors, and strengthen its presence in overseas markets.

According to a new forecast from Bank of America (BofA), the Federal Reserve is expected to delay interest rate cuts until the second half of 2027, citing high inflation and robust employment growth. BofA Global Research had previously projected two rate cuts this year, one each in September and October. This was based in part on the expectation that Kevin Warsh, President Trump's nominee to succeed Jerome Powell as Fed Chair, would steer the central bank toward monetary easing. However, the forecast has been revised due to changing economic conditions. BofA economists noted that they no longer expect a Fed rate cut this year, adding that complex economic shocks, including the war in Iran, tariffs, and the rise of artificial intelligence (AI), are making it more difficult to predict rate movements.

Tydro, a lending protocol within the Ink ecosystem, has announced the resumption of its market operations. The Chainlink oracle upgrade timelock is scheduled to end at 11:52 p.m. UTC on May 9. Following the execution of the upgrade, the market is expected to be unpaused around 12:00 a.m. UTC on May 10.

Circle's Layer 1 chain, Arc, announced it has started accepting applications for the Circle Developer Grant Program. The developer fund is designed to support teams building real-world services on the USDC and Circle developer platforms. Applications are open to projects in areas including payments, financial management, foreign exchange (FX), and the agentic economy.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section shows the Volume Heatmap, and the bottom section shows the Cumulative Volume Delta (CVD). - The top Volume Heatmap tracks the volume of trades at specific price levels. The background color becomes brighter when the price remains in a certain range for an extended period or moves significantly. Brighter areas may act as potential support or resistance levels. - The bottom Cumulative Volume Delta (CVD) indicator represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. The yellow line represents orders between $100 and $1,000, while the brown line indicates large orders between $1 million and $10 million.

U.S. spot Ethereum ETFs recorded approximately $3.6 million in net inflows on May 8, according to data compiled by Trader T. The reversal comes after a single day of net outflows. - BlackRock's Staking ETHB: +$3.6 million

24-hour crypto futures liquidations The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $31.84 million liquidated (53.57% shorts) - ETH: $30.36 million liquidated (55.12% shorts) - TON: $29.35 million liquidated (97.74% shorts)

Global asset markets are shifting their focus from "TACO" (Trump Always Chicken Out) trading to "NACHO" (Not A Chance Hormuz Opens) trading, BlockBeats reported. The "NACHO" thesis is based on the following logic: - Insurers will not underwrite policies for ships passing through the Strait of Hormuz. - This effectively keeps the strait closed, driving up oil prices and, in turn, inflation. - Consequently, the U.S. Federal Reserve will be unable to cut interest rates. While high oil prices and interest rates are typically negative for asset markets, this shift suggests that investors now view the unresolved situation in Iran as a constant factor from which to profit. As confidence grows that the Strait of Hormuz will not reopen in the short term, capital is flowing into beneficiary assets such as energy stocks and big tech companies with strong cash reserves and AI momentum. According to eToro analyst Zavier Wong, the market appears to have decided against expecting an immediate solution to the Iran situation. He added that high oil prices have become a feature of the current market environment rather than a temporary shock.

U.S. spot Bitcoin ETFs saw net outflows of approximately $145.64 million (213.2 billion won) on May 8, according to Trader T. This marks the second consecutive day of net outflows. - BlackRock's IBIT: -$27.22 million - Fidelity's FBTC: -$97.60 million - Morgan Stanley's MSBT: +$5.74 million - Ark's ARKB: -$26.56 million

Chun Wang, founder of F2Pool, a major crypto mining pool with Chinese roots, has withdrawn 7,461 ETH ($17.27 million) from Binance, according to on-chain analyst ai_9684xtpa. The funds were subsequently deposited into the DeFi protocol Spark.

Aave (AAVE) has announced its follow-up measures in response to the recent rsETH hack. The plan includes: - Burning the hacker's liquidated rsETH position on Arbitrum - Mitigating the over-issued rsETH supply - Transferring the ETH that was frozen by the Arbitrum committee - Resuming withdrawals once the rsETH bridge is normalized - Normalizing the wETH loan-to-value (LTV) ratio Additionally, Aave stated that while awaiting a court decision on the frozen ETH, it plans to take out a separate loan to compensate users.

Fourteen protocols have either left LayerZero (ZRO) or suspended their bridging services over the past 48 hours, on-chain analyst Emperor Osmo reported on X. LayerZero was the cross-chain bridge exploited by a hacker in the recent Kelp DAO rsETH incident. Three protocols—KelpDAO, Solv Protocol (SOLV), and ReProtocol—have migrated to Chainlink CCIP as their new standard bridge infrastructure. Others, including Kamino (KMNO), Ethena (ENA), Euler (EUL), and Curve (CRV), have temporarily suspended their bridges. Meanwhile, Aave (AAVE), SparkLend, Fluid (FLUID), Pendle (PENDLE), and Compound (COMP) have frozen their markets. LayerZero previously apologized for the security incident and announced plans to change its validator settings.

CoinMarketCap's Altcoin Season Index is currently at 48, up five points from yesterday. The index is calculated by comparing the price performance of the top 100 coins by market capitalization, excluding stablecoins and wrapped coins, against Bitcoin. An altcoin season is declared when 75% of these top coins outperform Bitcoin over the past 90 days, while the opposite is considered a Bitcoin season. A score closer to 100 indicates a stronger trend toward an altcoin season.

Coinbase announced it purchased an additional 1,103 BTC during the first quarter, increasing its total holdings to 16,492 BTC. The disclosure was made in an earnings report released after the U.S. stock market closed on May 7. In the previous quarter, the company had reported holding 15,389 BTC.

LayerZero (ZRO) has apologized for a past security incident and admitted to poor communication regarding the event. The project was the cross-chain bridge exploited by hackers in the Kelp DAO rsETH incident. Through its official X account, LayerZero explained that a sub-RPC of its Decentralized Verification Network (DVN) was attacked by the North Korean hacking group Lazarus, which corrupted data, while an external RPC provider was hit with a DDoS attack. The project stated that while the protocol itself was unaffected, operating the DVN in a single validator mode was a serious mistake. LayerZero announced it will discontinue the single validator setup and transition the protocol's default to a multi-validator system of at least 3:3. It added that it will perform a full upgrade of its security infrastructure by developing new clients and introducing a multi-signature system and an integrated console management platform.

BlackRock is planning to launch two new money market funds (MMFs) aimed at investors who hold cash in stablecoins rather than traditional bank accounts, Bloomberg reported. The new funds are named BRSRV and BSTBL, with BRSRV specifically targeting stablecoin holders. Share tokens for BRSRV will be issued on multiple chains, while BSTBL's will be issued on the Ethereum chain. The move aligns with previous statements from BlackRock CEO Larry Fink, who has emphasized that all financial assets will eventually be tokenized. BlackRock's BUIDL fund, launched in 2024, currently manages assets worth $2.5 billion.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section displays a Volume Heatmap, while the bottom shows the Cumulative Volume Delta (CVD). The Volume Heatmap tracks the scale of trading volume at specific price levels. The background color becomes brighter when the price remains in a certain range for an extended period or moves significantly. Areas with brighter colors may act as potential support or resistance levels. The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. - Yellow line: Orders between $100 and $1,000 - Brown line: Large orders between $1 million and $10 million