Crypto Vesting

Nasdaq-listed Bitcoin mining firm Core Scientific Inc. posted a net profit of $580 million with its first quarter results, but missed analyst revenue estimates after a drop in its mining profits.

Core Scientific’s Q1 2025 results, shared on May 7, saw it more than double its $210 million net income from the year-ago quarter, while its total revenue reached $79.5 million, missing Zacks analysts’ estimates by 8.11%, and falling from its $179.3 million in revenues for Q1 2024. 

The firm’s primary source of revenue came from $67.2 million in self-mining revenue, $3.8 million in hosted mining revenue, and $8.6 million in colocation, formerly listed as high-performance computing (HPC) hosting.

Source: Core Scientific

Core Scientific said its drop in Bitcoin (BTC) mined and revenue was due to the halving on

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Arizona Governor Katie Hobbs has signed a bill into law allowing the US state to keep unclaimed crypto and establish a “Bitcoin Reserve Fund” that won’t use any taxpayer money or state funds.

Hobbs signed House Bill 2749 into law on May 7, which allows Arizona to claim ownership of abandoned digital assets if the owner fails to respond to communications within three years.

The state’s custodians can stake the crypto to earn rewards or receive airdrops, which can then be deposited into what Arizona has called a Bitcoin and Digital Asset Reserve Fund.

“This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country in how we secure, manage, and ultimately benefit from abandoned digital currency,” the bill’s sponsor, Jeff Weninger, said

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Binance founder and convicted felon Changpeng Zhao says that he applied for a pardon from US President Donald Trump shortly after denying reports that he was seeking one.

Zhao, also known as CZ, said on a Farokh Radio podcast episode aired May 6 that he “wouldn’t mind” a pardon and that his lawyers have already filed the paperwork on his behalf

“I got lawyers applying,” Zhao said, adding that he submitted the request after Bloomberg and The Wall Street Journal reported in March that he was seeking a pardon from Trump amid discussions of a business deal between the Trump family and Binance.US.

Zhao denied the reports at the time, but said on the podcast that he thought “if they’re writing this article, I may as well just officially apply.”

He added that Trump’s pardon of three BitMEX founders,

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Stripe, a global payments platform, has introduced stablecoin-based accounts to clients in over 100 countries.

According to a May 7 announcement, the new feature will allow the platform’s clients “to send, receive, and hold US-dollar stablecoin account balances, similar to how a traditional fiat bank account works.”

The product’s technical page shows that the new account feature will support Circle’s USDC (USDC) and Bridge’s USDB (USDB) stablecoins. Stripe acquired the Bridge platform in October 2024.

The product will be available to clients in more than 100 countries, including Argentina, Chilé, Turkey, Colombia, and Peru, among others.

Stripe’s newly launched product comes at a time when stablecoins are increasingly seen as stores of value in developing economies struggling with high inflation, capital controls, and a lack of financial infrastructure.

The stablecoin market cap has crossed $231 billion and continues to

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Brokerage fintech Robinhood is reportedly developing a blockchain network that will enable retail investors in Europe to trade US securities.

According to a May 7 Bloomberg report citing sources familiar with the matter, the move seeks to expand the company’s local presence by offering trading of tokenized securities, such as stocks.

Two crypto firms, Arbitrum and the Solana Foundation, are reportedly vying to become partners in the project. Tokenization is the process of turning real-world assets, like stocks, real estate, or commodities, into digital tokens that can be traded on a blockchain.

Tokenizing securities instead of providing direct exposure can offer several advantages: reduced costs by eliminating traditional financial infrastructure, enhanced accessibility, faster settlement times, and quicker transactions. More brokerages and investment firms are exploring asset tokenization.

Robinhood has been preparing to enter the European market. In April 2025, it acquired a brokerage license in Lithuania

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What to know:

Lyn Alden says a weaker dollar is necessary for the US to stabilize its financial system.

Bitcoin and gold are well-positioned to benefit from de-dollarization.

Sovereign wealth funds and various nations are already increasing their Bitcoin exposure as the dollar’s global dominance starts to wane.

The weakening of the US dollar (DXY) is no longer headline news. With mounting disruptions across the US economy, a declining greenback has become part of the backdrop. Since the start of 2025, the US Dollar Index has dropped 11%, now hovering around levels last seen in April 2022. Markets have largely responded with a shrug. After all, in times of deep restructuring, isn’t some dollar weakness to be expected?

The trouble is, this might not be a temporary dip. The dollar’s slide could reflect a deeper, long-term reconfiguration of both the US economy and the global monetary order. In a May 4 <a data-ct-non-breakable="null" href="https://x.com/LynAldenContact/status/1919117154386887162" rel="null"

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Braden John Karony, the former CEO of crypto firm SafeMoon, made an out-of-court statement claiming innocence as his criminal trial began in New York.

In a May 6 X post after court proceedings had likely ended for the day, Karony said he was innocent and “did not commit fraud” in response to media coverage of his trial. The former CEO, as well as SafeMoon creator Kyle Nagy and former chief technology officer Thomas Smith, were charged in 2023 for having allegedly “diverted and misappropriated millions of dollars’ worth” of the platform’s SFM token.

According to reporting from the US District Court for the Eastern District of New York (EDNY) on May 6, Karony implied that Nagy, who reportedly fled to Russia after authorities filed charges, was responsible for some of the alleged fraud at SafeMoon. On the first day of the trial,

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Key takeaways:

Reclaiming the $2,200 level remains the first price challenge for ETH. 

ETH price could recover if the Pectra upgrade leads to a surge in DApp and Ethereum network activity. 

Ethereum successfully implemented a key network upgrade on May 7, but Ether (ETH) price and its derivatives metrics showed little response to the upgrade. The lackluster response surprised traders and led analysts to question whether ETH still has a real chance of climbing 22% to retake the $2,200 level.

Ether 30-day futures annualized premium. Source: Laevitas.ch

The ETH futures premium has remained below the 5% neutral threshold, indicating a lack of appetite from leveraged bulls. More significantly, this indicator was unchanged at 3% after the Pectra upgrade, suggesting traders did not adjust their positions despite the upgrade’s successful deployment. 

The subdued response can be partly explained by investors’ focus on macroeconomic issues, as recession risks

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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 a response by the time of publication.

Source: ZachXBT

The claims made by ZackXBT place the total amount lost by Coinbase users to social engineering scams

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