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Prediction Markets Hit New TVL High as Polymarket Tops $330 Million

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Prediction Markets Hit New TVL High as Polymarket Tops $330 Million


The total value locked across crypto prediction markets broke above its previous U.S. presidential election-fueled ATH.

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Pi Network slides below $0.17 as exchange inflows signal selling pressure

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Pi Network slides below $0.17 as exchange inflows signal selling pressure

Key takeaways

  • PI is down 2.3% and is now trading below $0.1700.
  • Investor confidence is declining as CEXs record roughly 2 million PI tokens in inflows over the past 24 hours, suggesting a near-term sell-off.

Pi Network (PI) is trading below the $0.1700 mark on Monday, extending its gradual decline as the token remains stuck in a consolidation phase. 

Recent data shows that centralized exchanges (CEXs) received close to 2 million PI tokens over the past 24 hours, pointing to rising sell-side activity amid a broader risk-off tone across the cryptocurrency market. 

Selling pressure persists amid geopolitical tensions

Pi Network continues to face downward pressure, mirroring wider market caution triggered by failed peace negotiations between the United States and Iran in Pakistan. The breakdown in talks has escalated tensions, with the US initiating a blockade of maritime traffic through the Strait of Hormuz—further dampening investor risk appetite.

Data obtained from PiScan shows that 1.92 million PI tokens were transferred to CEXs within 24 hours, suggesting that KYC-verified mainnet users may be reducing their holdings and adding to the ongoing sell-off.

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Currently, investors within the ecosystem are shifting their attention to the upcoming Consensus 2026 event, hosted by CoinDesk from May 5–7. Pi Network co-founder Chengdiao Fan is scheduled to speak on May 6 on the topic of integrating Web3, AI, and blockchain for real-world utility. 

The event, with Fan speaking, could trigger a “buy the hype, sell the news” dynamic—potentially fueling a short-term rally ahead of the event, followed by renewed selling pressure.

PI could experience further selling pressure

The PI/USD 4-hour chart is bearish and efficient as the token is trading below both the 50-day and 100-day Exponential Moving Averages (EMAs), currently positioned around $0.1800 and $0.1898, respectively.

Momentum indicators reinforce the bearish outlook. The Relative Strength Index (RSI) sits near 44, below the neutral midpoint, indicating sustained bearish momentum. 

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Meanwhile, the Moving Average Convergence Divergence (MACD) shows slightly negative histogram bars, suggesting that downside pressure remains in play.

On the downside, immediate support lies at $0.1556, the February 23 low. A break below this level could open the door to further declines within the current bearish structure.

PI/USD 4H Chart

However, if the bulls regain control, a move above the 50-day EMA at $0.1800 would be the first sign of recovery. A daily candle close above this level would allow PI to reclaim the 100-day EMA near $0.1898.

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StarkWare Implements Layoffs Following 99% Revenue Plunge in Starknet Operations

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

Key Highlights

  • Workforce reductions implemented as Starknet experiences over 99% revenue decline
  • Company pivots toward direct product development following revenue collapse
  • Organizational restructuring aims to accelerate revenue recovery efforts
  • New business units established to drive growth after dramatic decline
  • Strategic shift underway as Starknet income experiences sharp contraction

StarkWare has implemented workforce reductions and initiated a comprehensive organizational restructuring following a dramatic decline in Starknet revenue that has significantly impacted the company’s growth trajectory. The blockchain infrastructure provider is now pivoting its strategic focus toward proprietary product development to stabilize revenue streams and broaden its market applications. The company’s objective centers on transforming its technological capabilities into sustainable revenue channels and consistent market demand.

New Organizational Framework Emphasizes Revenue Generation

StarkWare has unveiled a reorganized operational framework that separates its business into two distinct units designed for improved efficiency. This strategic reorganization supports the company’s broader objective of streamlining operations and achieving faster product-market fit. The workforce reduction enables StarkWare to function with a more agile and cost-effective organizational structure.

The revised structure features a commercial applications division operating alongside a dedicated Starknet infrastructure development team. This organizational separation enables StarkWare to distinguish between foundational technology advancement and revenue-focused product delivery. Consequently, different teams can concentrate specifically on generating income while pursuing targeted technological innovation.

Executive realignment accompanies this structural transformation as StarkWare redistributes leadership responsibilities across expanded portfolios. The chief financial officer now manages additional operational areas including cybersecurity, information technology, and workforce management. Engineering leadership has transitioned toward architectural strategy to reinforce fundamental technology direction and vision.

Dramatic Starknet Revenue Decline Triggers Strategic Realignment

StarkWare has confronted a severe contraction in Starknet revenue, experiencing a decline exceeding 99% from peak performance levels. Monthly revenue previously approached nearly $6 million but has contracted to approximately $48,000 as of April 2026. The company must fundamentally restructure its business model to compensate for diminished fee revenue across Layer 2 scaling solutions.

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This revenue contraction reflects widespread industry transformations following Ethereum’s implementation of the EIP-4844 upgrade, which significantly reduced transaction fee structures. Reduced fee environments have constrained revenue potential for rollup solution providers like StarkWare. Despite revenue challenges, total value locked within Starknet maintains levels above $200 million, demonstrating ongoing network utilization and engagement.

StarkWare’s strategic focus is transitioning away from infrastructure scaling toward developing applications capable of generating direct revenue. The company intends to decrease dependence on external blockchain ecosystems while increasing proprietary product ownership. StarkWare’s goal involves capturing economic value across its complete technology infrastructure.

Proprietary Product Development and Full-Stack Control

StarkWare intends to develop products built entirely on its proprietary zero-knowledge proof technology infrastructure. The company will maintain complete control over critical components including Cairo, Sierra, and its STARK-based cryptographic frameworks. This comprehensive ownership strategy enables StarkWare to minimize reliance on external Layer 1 blockchain networks.

The applications division will create revenue-generating tools specifically designed to produce quantifiable income within StarkWare’s ecosystem. Leadership anticipates these products will exploit distinctive technical capabilities unavailable to competitive development teams. StarkWare aims to establish market differentiation through specialized and premium-value applications.

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Ongoing research initiatives further demonstrate StarkWare’s commitment to advanced cryptographic technologies and forward-looking architectural designs. Internal development focused on quantum-resistant transaction protocols indicates the company’s long-term technical roadmap. Through this approach, StarkWare positions itself for competitive advantage through innovation while simultaneously reconstructing revenue fundamentals.

 

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Foundry unveils Zcash block explorer as mining pool reaches 30% of hashrate

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Foundry unveils Zcash block explorer as mining pool reaches 30% of hashrate

Foundry Digital, the largest Bitcoin mining pool by hashrate, launched a Zcash (ZEC) mining pool that quickly grew to control about 30% of the network’s hashrate, according to company data and its newly released block explorer.

The New York-based firm said multiple institutional miners joined the pool ahead of its public debut, following an initial announcement in March.

Alongside the pool, Foundry introduced Zcashinfo.com, a block explorer that tracks network activity. The site shows pool rankings, hashrate distribution, block data and mining difficulty in real time.

Zcash, launched in 2016, lets users send transactions on a public blockchain while keeping key details private through zero-knowledge proof technology. The network can verify that a transaction is valid without revealing the sender, receiver or amount involved using a cryptographic method known as zk-SNARKs.

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The network, like Bitcoin, relies on proof-of-work mining, where specialized machines compete to solve cryptographic puzzles in exchange for rewards paid in newly issued ZEC tokens and transaction fees.

Blocks on Zcash are produced roughly every 75 seconds, far faster than Bitcoin’s 10-minute cycle, though both networks cap supply at 21 million coins. Zcash uses the Equihash algorithm, which is designed to require large amounts of memory, unlike Bitcoin’s SHA-256 system.

Because the odds of solving a block alone are low, miners often group into pools to combine computing power and share rewards. That structure has made large pools central to network performance, as they can control sizable portions of total hashrate.

Foundry’s pool distributes rewards through transparent addresses and uses a pay-per-last-N-shares (PPLNS) model, which tracks miner contributions over time to calculate payouts.

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The pool is open to new institutional participants, with onboarding focused on regulated entities.

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Donald Trump backed World Liberty Financial mints $25 million in fresh USD1

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(Arkham)

World Liberty Financial minted 25 million USD1 stablecoins on Monday morning and burned 3 million through its TokenGovernor contract, on-chain data shows, as the Trump-linked venture continues managing the fallout from a lending position that trapped depositors on DeFi protocol Dolomite.

The activity follows WLFI’s statement last week, posted in response to CoinDesk’s reporting on the Dolomite transactions, that it had repaid $25 million of the roughly $75 million it borrowed against its own governance token.

The venture deposited billions of WLFI tokens as collateral and borrowed stablecoins that were partially routed to Coinbase Prime, pushing Dolomite’s USD1 lending pool to near-100% utilization and leaving other depositors unable to fully withdraw.

Monday’s mint was funded through BitGo Custody and executed via WLFI’s USD1 Mint Authority contract. The 3 million USD1 burn moved from an address starting 0x2ce to the TokenGovernor contract before being sent to the null address, permanently removing the tokens from circulation.

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(Arkham)

Smaller test transactions of $10, $10,000, and $40,800 in USD1 were sent to a previously inactive address in the hours before the mint, a pattern consistent with wallet verification ahead of larger transfers.

The net effect is a $22 million increase in USD1 circulation. The simultaneous mint and burn indicates active supply management rather than a simple expansion.

However, the burn raises its own question of where those 3 million USD1 came from and why they were retired rather than redeployed.

Stablecoin issuers routinely burn tokens when collateral is redeemed, but WLFI has not disclosed the specific reason.

It is not yet clear whether the newly minted USD1 is intended to replenish Dolomite’s lending pool, fund additional treasury operations, or serve another purpose.

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WLFI’s governance token has fallen roughly 15% since CoinDesk first reported the Dolomite transactions on April 9. Dolomite co-founder Corey Caplan is an advisor to World Liberty Financial.

CoinDesk has reached out to World Liberty Financial for comment in European morning hours.

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Meta builds photorealistic AI Zuckerberg to engage employees in real time

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Meta builds photorealistic AI Zuckerberg to engage employees in real time

Meta Platforms is experimenting with AI to develop a new way for its chief executive, Mark Zuckerberg, to communicate with his staff without being physically present.

Summary

  • Meta Platforms is developing a photorealistic AI-powered 3D version of Mark Zuckerberg to enable real-time interaction with employees without physical presence.
  • The system is being trained on Zuckerberg’s voice, expressions, and communication style, with the goal of providing staff direct access to leadership for guidance and updates.
  • The initiative comes as Meta expands its social commerce tools, allowing creators to link product catalogues within Reels, turning content into shoppable storefronts across 22 countries.

A recent report by the Financial Times says the company is building a photorealistic, AI-powered 3D version of Zuckerberg, which would be capable of engaging with his employees in real time.

The system will be designed to simulate natural conversations, allowing staff members to interact with the digital representation of Zuckerberg, who can respond in a human-like manner.

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While still in early stages, the initiative signals Meta’s continued investment in virtual human systems that can speak, respond, and hold conversations across different environments.

The digital version is being trained using Zuckerberg’s voice, facial expressions, tone, and public speaking patterns. It is also learning from his recent statements on company strategy, so it can deliver responses aligned with his views. Reports indicate that Zuckerberg is actively involved in testing and refining the system.

Meta expects the tool to give employees real-time access to leadership for guidance, feedback, and updates. The company also sees it as a way to improve internal communication, especially given its global workforce, where direct interaction with executives is limited.

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However, it should be noted that creating such a system requires massive computing power to ensure lifelike visuals and low-latency conversations. Teams at Meta have been working to improve both rendering quality and voice realism. As part of this effort, the company has strengthened its capabilities through acquisitions such as PlayAI and WaveForms.

The project is separate from Meta’s internal CEO assistant agent, which helps Zuckerberg manage daily tasks and retrieve information. Unlike that system, the 3D model is focused on communication and interaction, and could eventually extend beyond internal use.

Once successful, the approach may open the door for creators and influencers to build their own AI-driven avatars to engage audiences. Meta has already taken initial steps in this direction through its AI Studio platform.

Meta pushes into social commerce to strengthen creator ecosystem

The development follows Meta Platforms’ expansion in social commerce by linking creators, artificial intelligence, and advertising more closely to purchasing activity across platforms like Instagram and Reels.

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A central part of the strategy involves increasing the role of creators in the shopping journey. Businesses in 22 countries, including India, will soon be able to share product catalogues directly with creators. These can then be tagged and linked within Reels, effectively turning content into shoppable storefronts.

The update would narrow the gap between entertainment and commerce, allowing users to move more seamlessly from discovery to purchase within the same interface.

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Crypto ETP Inflows Hit $1.1 Billion, Strongest Since January

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Crypto ETP Inflows Hit $1.1 Billion, Strongest Since January

Cryptocurrency investment products clocked significant inflows last week, marking their strongest weekly gains since January.

Global crypto exchange-traded products (ETPs) logged $1.1 billion in inflows last week, with Bitcoin (BTC) leading the gains with $871 million in inflows, CoinShares reported on Monday.

The inflows marked the second-biggest weekly gains in 2026 so far, following only the $2.17 billion in weekly inflows recorded in mid-January.

Weekly crypto ETP flows (in millions of US dollars). Source: CoinShares

CoinShares’ head of research, James Butterfill, attributed the spike in inflows to a rebound in investor risk appetite following tentative ceasefire developments in Iran, alongside support from softer-than-expected US inflation and spending data.

The inflows came amid volatility in spot markets, with BTC reclaiming $70,000 and briefly topping $73,000 last week, even as broader market sentiment remained negative, underscoring sustained institutional demand and resilience in regulated investment products.

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Ether ETP flows rebound, but year-to-date inflows are still negative

Ether (ETH) ETPs saw a strong rebound in sentiment with around $196.5 million in inflows, the first inflows after three consecutive weeks of outflows.

Despite the gains, Ether remains one of the only assets in a net outflow position year-to-date, at $130 million. In contrast, Bitcoin sits on the largest inflows this year so far at $1.9 billion and accounts for around 83% of the $2.3 billion in total crypto ETP inflows year-to-date.

Crypto ETP flows by asset (in millions of US dollars). Source: CoinShares

Although Bitcoin ETPs posted significant inflows, short-Bitcoin investors were also active last week, with weekly inflows totaling $20 million, their largest weekly inflows since November 2024, Butterfill noted.

Among other gains, XRP (XRP) ETPs posted inflows of around $19 million. Solana (SOL) saw minor outflows of $2.5 million.

Related: BlackRock Bitcoin ETF sees $269M inflows, best day since early March

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Regionally, positive sentiment was almost entirely concentrated in the US, which saw inflows of $1 billion, accounting for 95% of net weekly inflows. The majority of Bitcoin ETP inflows were driven by US spot BTC exchange-traded funds, which posted $786.3 million in inflows last week, according to SoSoValue data.

Germany recorded inflows of $34.6 million, while Canada and Switzerland saw more modest inflows of $7.8 million and $6.9 million, respectively.

Magazine: Your guide to surviving this mini-crypto winter