Author: Coin Telegraph

Onchain sleuth and security analyst ZackXBT claims to have identified an additional $45 million in funds stolen from Coinbase users through social engineering scams in the past seven days alone.According to the onchain detective, the $45 million figure represents the latest financial losses in a string of social engineering scams targeting Coinbase users, which ZackXBT said is a problem unique among crypto exchanges:”Over the past few months, I have reported on nine figures stolen from Coinbase users via similar social engineering scams. Interestingly, no other major exchange has the same problem.”Cointelegraph reached out to Coinbase but was unable to get…

Speaking at a hearing, US Treasury Secretary Scott Bessent toed the party line in suggesting support for two crypto-related bills moving through Congress.Bessent addressed lawmakers at a May 7 hearing of the House Financial Services Committee, saying that the United States should be the “premier destination for digital assets” in response to a question about American dominance over China in crypto-related innovation. The Treasury Secretary added that “good market structure” and “stablecoin legislation” could help ensure this outcome.US Treasury Secretary speaking at a May 7 hearing. Source: Scott BessentBessent’s remarks echoed those of other Republican lawmakers and President Donald Trump,…

Key Takeaways: Bitcoin’s realized capitalization hit a record $890 billion, reflecting strong investor conviction as long-term and short-term holders increased allocations. Large Bitcoin holders with over 1,000 BTC have accumulated significantly since March 2025, reflecting the Q1 2024 trend. Bitcoin (BTC) price saw a short-squeeze above $97,000 on May 6, shortly after US Treasury Secretary Scott Bessent announced that trade talks would commence with China on May 10. At the same time, BTC’s realized capitalization, a metric adding the dollar value of all coins at their last moved price, soared to a new all-time high of $890 billion on May…

Strive Asset Management, founded by entrepreneur and former presidential candidate Vivek Ramaswamy, has revealed plans to transition into a Bitcoin treasury company.According to a May 7 announcement, Strive is going public through a reverse merger and plans to use the combined company’s stock to accumulate Bitcoin (BTC).The deal will see Strive merging with Asset Entities — a social media marketing company listed on the Nasdaq. The combined entity will operate under the Strive brand and use its access to the public equity markets to finance Bitcoin purchases, the company said. Once the deal closes, Strive plans to issue approximately $1 billion…

The Bybit exchange has recovered its liquidity to pre-hack levels just 30 days following the February 2025 attack that drained nearly $1.5 billion in funds.According to a report from crypto research and analytics firm Kaiko, Bitcoin’s (BTC) 1% market depth, a measure of liquidity, returned to pre-hack levels of around $13 million per day in March 2025.Bitcoin liquidity on Bybit exchange rebounds to pre-hack levels. Source: KaikoAltcoin liquidity levels on the exchange have been slower to recover than Bitcoin but have rebounded to around 80% of the pre-hack levels. The authors of the Kaiko report added:”This lag is largely due…

Key points:Bitcoin price hangs near $97,000 as traders await today’s FOMC minutes.Bitcoin holding $95,000 as support is key for bullish price expansion in the short term.Select altcoins are holding their respective support levels, opening the gates for a short-term rally.Bitcoin (BTC) bulls are trying to knock down the immediate resistance at $97,895 and challenge the all-important $100,000 level. Crypto analytics platform Santiment said in a post on X that Bitcoin wallets holding between 10 and 10,000 Bitcoin are positive about further gains as they have acquired 81,338 Bitcoin over the past six weeks.Investors have also been piling into BlackRock’s spot…

Key points:Bitcoin investors are making the most of the highest price levels in several months by cashing out profits.These are averaging $1 billion per day, leading to concerns that the market comeback may stall or even reverse.Institutional participation has not led to a change in mindset, CryptoQuant says.Bitcoin (BTC) risks a “local top or sharp correction” if current levels of profit-taking continue, new research warns.In a “Quicktake” blog post on May 8, onchain analytics platform CryptoQuant flagged elevated realized profits among BTC investors.BTC profit-taking spikes to January highsBitcoin realized profits have spiked to multimonth highs this week as BTC/USD reached…

At least some of the top holders of Donald Trump’s memecoin who apply to attend a private dinner with the president could be based outside the United States.According to a May 7 Bloomberg report based on an analysis of the top TRUMP tokenholders, 19 of the top 25 wallets on the leaderboard used foreign exchanges that exclude US-based customers, suggesting either foreign nationals or Americans living abroad. In addition, more than half of the top 220 holders — the group eligible to apply for a dinner with the president — also used exchanges in other countries.Top 10 TRUMP memecoin holders…

Key takeaways:XRP price is up 2% on May 7, buoyed by US-China trade talk optimism, with key support at $2.08 critical for sustained recovery.Whale accumulation signals XRP price strength.XRP price must hold above $1.83–$2.00 support to continue upside, analysts say.XRP (XRP) price displayed strength on May 7, rising 2% over the last 24 hours after news of possible US-China trade talks flipped investor sentiment. XRP price remains above $2.00 at the time of writing, as several analysts highlight the key support levels the asset should hold for a sustainable recovery to new all-time highs.Whale accumulation supports bullish XRP viewCertain indicators show…

Opinion by: Anurag Arjun, co-founder of Avail On paper, SocialFi is a no-brainer. It promises to shift the balance of power in social media — giving people control over how their content and personal data are used and monetized. It even offers users a stake in the $200+ billion social media advertising market, a pie currently devoured almost entirely by giants like Meta.And yet, SocialFi platforms today feel more like digital ghost towns than the bustling hubs of Web2. Friend.tech, hailed as a breakout star in 2023, peaked at just 80,000 daily active users before falling below 10,000. What’s holding SocialFi…