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Movement Labs terminates co-founder Rushi Manche, launches new firm

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

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"

Voltage Finance exploiter moves $182K in ETH to Tornado Cash

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"

Bigger Bitcoin wallets are stacking while others sell: Santiment

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

BlackRock Bitcoin ETF clocks 16 days of inflow as BTC reclaims $97K

Investors have been piling into BlackRock’s spot Bitcoin exchange-traded fund for over three weeks straight, culminating in the asset’s run up to $97,000 on May 7.

The BlackRock iShares Bitcoin Trust has seen 16 days of inflows for the spot BTC ETF, with a further 280 Bitcoin (BTC) or around $36 million piling into the fund on May 6, according to HODL15Capital.

The inflow streak was noted by ETF Store President Nate Geraci, who also observed on X that the fund was approaching $5 billion in new capital.

“I remember when naysayers didn’t think spot Bitcoin ETFs would take in $5 billion in total last year,” he added.

“IBIT alone has done this in a few weeks, more than a year after launch.”

The BlackRock fund (IBIT) has seen around $4.7 billion in inflows since

South Korea presidential front-runner pledges to approve Bitcoin ETFs

South Korea’s Democratic Party leader Lee Jae-myung has reportedly become the latest presidential candidate to promise the approval of spot crypto exchange-traded funds (ETFs) and other crypto-friendly measures, should he be elected.

Lee announced his crypto promises on May 6 as part of a broader initiative to provide more investment opportunities for Korea’s youth, one of the main target demographics for the fast-approaching June 3 election.

“I will create a safe investment environment so that young people can [build] assets and plan for the future,” The Korea Economic Daily (KED) quoted Lee as saying in Korean.

He also promised the legalization of spot crypto ETFs, lower transaction fees, and more consumer protection measures.

Lee’s Democratic Party of Korea is the favorite to win the presidential election with 42% support, according to a survey conducted by Korea’s National Barometer Survey between April 24 and

World Liberty Financial floats USD1 airdrop to WLFI holders

Trump family-backed crypto platform World Liberty Financial (WLFI) is proposing to airdrop a small amount of its new US dollar-pegged stablecoin to reward early WLFI holders in a test of its airdrop mechanism.

With over 99% of votes in favor of the proposal already, the airdrop will distribute a small amount of USD1 to eligible holders of the WLFI token, according to the May 6 proposal in the WLFI governance forum.

“Testing the airdrop mechanism in a live setting is a necessary step to ensure smart contract functionality and readiness. This distribution also serves as a meaningful way to thank our earliest supporters and introduce them to USD1,” the proposal states.

“This will allow World Liberty Financial to validate the technical functionality of its airdrop system in a live environment while thanking early supporters of the project.”

Source: <a data-ct-non-breakable="null" href="https://x.com/worldlibertyfi/status/1919890364741066975" rel="null" target="null"

Coinbase x402 payments protocol to make AI agents more autonomous

Coinbase has introduced a new payments protocol for online payments that enables stablecoin transfers over standard internet protocols and AI agents to transact autonomously.

On May 6, Coinbase announced that it is launching a protocol called x402 for instant stablecoin payments directly over the internet communication protocol HTTP (Hypertext Transfer Protocol).

It allows Application Programming Interface (APIs), apps, and AI agents to transact seamlessly, “unlocking a faster, automated internet economy,” the firm stated.

Coinbase said that x402 “is fixing the internet’s first mistake.” The protocol resurrects the experimental HTTP 402 “Payment Required” status code to create a seamless payment system native to the internet.

The firm noted that traditional payment rails, such as credit cards, bank transfers and subscriptions, “were built for a pre-internet world.”

They’re slow, expensive, geographically limited, and “riddled with manual steps,” it added.

However, x402 embeds stablecoin payments directly into web interactions,

Bitcoin must hold above $95K or face short-term rejection: Bitfinex

Key takeaways:

Bitcoin must maintain above $95,000 to have a chance at retesting its $109,000 all-time high; failure to hold could lead to a deeper correction, crypto analysts warn.

Several crypto analysts told Cointelegraph in March that Bitcoin may have a chance of reaching new all-time highs in June.

The upcoming Federal Reserve decision on May 7 could influence Bitcoin’s price movement over the coming days.

Bitcoin needs to continue to hold above the $95,000 level for a chance to climb back and retest its all-time high, or face an even deeper correction, crypto analysts say.

It comes after several analysts told Cointelegraph earlier this year that June could be the month Bitcoin (BTC) reaches new all-time highs.

“The $95,000 level — currently under consolidation — is a critical pivot point, acting as the lower boundary of a three-month range that defined market structure between November 2024 and February 2025,” Bitfinex

Zerebro dev’s death in question as ‘proof’ surfaces on X

Members of the crypto community are circulating apparent “proof” that Zerebro developer Jeffy Yu faked his suicide as he promoted his new memecoin during a Pump.fun livestream on May 4.

The belief appears to come from an unverified private letter supposedly sent by Yu to a Zerebro investor, trading activity linked to crypto wallets owned by Yu, and the removal of his obituary from Legacy.com.

Others speculate that Yu used a tool to pass off a pre-edited video as if it were filmed in real-time during the Pump.fun livestream.

Source: Hash

The unverified letter from Yu to an early investor states that he deliberately created a livestream pretending to shoot himself as it was the only “viable exit” from persistent harassment, blackmail, threats and hate crimes.

“Being fully doxxed has placed me under constant fear of robbery and physical harm.

Democrats aim at Trump’s crypto profits with a 3-prong pincer move

US Democrat lawmakers have launched a multi-angle attack on President Donald Trump’s crypto ventures with two bills and a subcommittee inquiry aimed at cutting his ability to profit from the initiatives.

The Modern Emoluments and Malfeasance Enforcement Act, or the MEME Act, aims to prevent federal officials from using their position to profit from memecoins, Democrat Senator Chris Murphy said in a May 6 statement.

If passed, the MEME Act prohibits the president, vice president, members of Congress, senior executive branch officials, their spouses and children from issuing, sponsoring, or promoting a security, future, commodity, or digital asset, according to the bill’s description.

Today I’m introducing a bill – the MEME Act – to ban a President or Member of Congress from issuing a meme coin.

The Trump Coin is the biggest corruption scandal in the history of