Crypto Vesting

Ethereum — the network that unleashed smart contracts on the world — moves on to the next chapter with today’s Pectra upgrade, but what does it really mean?

Pectra is scheduled to go live on Ethereum mainnet at the start of epoch 364032, May 7, 2025, at around 10:00 am UTC. The three main Ethereum improvement proposals (EIPs) included are EIP-7702, EIP-7251 and EIP-7691.

Ethereum Pectra Consensys announcement. Source: Consensys

EIP-7702 allows externally owned accounts to act as smart contracts and cover gas expenses (transaction fees) and payments in tokens that are not Ether (ETH). EIP-7251 increases the validator staking limit from 32 ETH to 2,048 ETH, which makes operations for large stakers easier and simpler.

Lastly, EIP-7691 increases the number of data blobs per block, which allows for better layer-2 scalability and potentially significantly reduces transaction fees. Sergej Kunz, co-founder of Ethereum decentralized

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Bhutan, known for investments in cryptocurrencies like Bitcoin, has launched a tourism crypto payment system in partnership with Binance Pay and DK Bank.

The system allows Bhutan travelers with Binance accounts to pay for services like tickets, hotel stays, tour guides and other products using at least 100 different crypto assets, including Bitcoin (BTC), USDC (USDC) and Binance-backed BNB (BNB).

The initiative also opens a payment gateway for businesses in Bhutan, enabling them to accept crypto payments through a QR code on a phone, according to an announcement by Binance on May 7.

“This is more than a payment solution — it’s a commitment to innovation, inclusion, and convenience,” said Damcho Rinzin, director of Bhutan’s tourism department.

Benefits for small businesses in remote areas

The partnership specifically targets small businesses in Bhutan, such as vendors

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Despite the $1.4 billion lost in the recent Bybit hack, crypto companies have not changed their approach to cybersecurity, according to Hacken CEO Dyma Budorin. 

In an interview with Cointelegraph at the Token2049 event in Dubai, Budorin said the industry continues to rely on limited measures such as bug bounties and penetration tests, rather than implementing comprehensive, layered security strategies:

“Most of the projects think, ‘Okay, we did pentests. That’s enough. Maybe bug bounty. That’s enough.’ It’s not enough.”

He said that crypto companies must go beyond these isolated security measures and adopt more layered approaches similar to those of traditional industries. These include supply-chain security, operational security and blockchain-specific security assessments. 

“In big Web2 companies, this is mandatory,” Budorin added. 

Dyma Budorin at the Token2049 event in Dubai. Source: CointelegraphReal-time blacklisting, a step forward

While crypto security approaches remained the same, post-hack security approaches shifted slightly. Budorin told Cointelegraph there were some improvements in the

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Tether has deployed its flagship stablecoin, USD₮, on the Kaia blockchain as part of a broader collaboration with Line Next, the Web3 arm of Line, Japan’s popular messaging platform with over 196 million monthly active users.

The integration means USD₮ (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 USD₮ for in-app payments, cross-border transfers and decentralized finance (DeFi) activities.

“Through LINE NEXT’s blockchain infrastructure, over 200 million LINE users will now have a straightforward way to engage with digital assets in everyday life,” Tether CEO Paolo Ardoino said, adding:

“Tether’s expansion to Kaia underscores its commitment to fostering stablecoin adoption across Asia and beyond.”Source: <a data-ct-non-breakable="null"

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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/TradingViewBitcoin traders eye Fed for “tone changes”

Data from Cointelegraph Markets Pro and TradingView showed an abrupt turnaround for BTC/USD after the pair dipped under $94,000 to set new May lows.

The previous day’s Wall Street trading session set the stage for a return to strength, even as stocks finished lower.

XAU/USD 4-hour chart. Source: Cointelegraph/TradingView

Bitcoin and gold reached local highs of $97,700 and $3,435, respectively, before consolidating.

News of tensions boiling over

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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 its ongoing BTC buys. Since early 2024, the firm has raised over 35 billion yen ($244 million) through zero-coupon bonds and stock acquisition rights via its partner, Evo Fund.

The company’s proprietary key performance indicator, BTC Yield, has surged in recent quarters, reaching 309.8% in Q4 2024, 95.6% in Q1 2025, and 21%

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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) token, citing its failure to meet its listing standards.

Source: Movement

Related: Movement Network to buy back tokens with $38M recovered from rogue market maker

Movement Labs launches Move Industries

In addition to terminating Manche, Movement Labs <a data-ct-non-breakable="null" href="https://x.com/moveindustries/status/1919983628563706242"

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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 and allowed them to drain the platform’s lending pool through a reentrancy attack, according to CertiK.

Source: CertiK

After the exploit, Voltage Finance reported that the hacker stole various stablecoins and other crypto, including USDC (<a data-ct-non-breakable="null" href="https://cointelegraph.com/usdc-price-index" rel="null"

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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 price level.

The contrasting behavior between Bitcoin (BTC) whales and retail investors often signals that Bitcoin may be heading toward another upward trend, Santiment said in a May 6 X post. 

Bitcoin smaller players show cold feet

“When large wallets gradually accumulate in tandem with retail panic selling/selling out of boredom, it is generally a strong long-term

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