Connect with us
DAPA Banner

Crypto World

Bitcoin price reclaims $81K as Iran says U.S. peace proposal “under review”

Published

on

Bitcoin price has formed an ascending parallel channel pattern on the daily chart.

Bitcoin price rebounded back above $81,000 as investor risk-on sentiment improved after Iran signalled that it was reviewing a U.S. proposal to end the war between the two nations.

Summary

  • Bitcoin price rebounded above $81,000 after Iran said it was reviewing a U.S.-backed peace proposal that could reopen the Strait of Hormuz.
  • Oil prices declined for a third straight day amid optimism around a potential U.S.-Iran ceasefire, supporting renewed risk appetite across crypto markets.
  • Bitcoin’s Supertrend remained green while MACD formed a bullish crossover, with traders watching the $84,000–$85,000 zone as the next resistance area.

After falling over 2.3% from a 4-month high of $82,751 on Wednesday to an intraday low of $80,771, Bitcoin (BTC) price rebounded back above $81,500 at press time.

The bellwether reclaimed the $81K figure as oil prices continued to drop for the third straight day, as the U.S. and Iran made more progress toward a peace deal currently “under review” that aims to bring a permanent end to the war between the two nations and ease disruptions at the Strait of Hormuz.

Advertisement

Reports indicate that Iran is mulling over the peace deal presented by the U.S. through Pakistani intermediaries and is expected to provide a formal response within the coming days. The one-page memorandum of understanding includes a comprehensive framework for a ceasefire and the restoration of trade routes. However, it excludes sensitive discussions surrounding Iran’s nuclear program, which would reportedly take place at a later date.

Despite the growing optimism, U.S. President Donald Trump clarified that a deal has not yet been finalized, adding that the U.S. would continue with its attacks on Iran if it fails to comply with the proposed terms.

Crude oil prices, which have largely been affecting global market sentiment since the war began, fell for a third straight day on Thursday, boosting investor confidence in riskier assets. Notably, WTI crude futures fell toward $93 per barrel while Brent oil had fallen 1% to $100. 

Advertisement

Safe haven assets such as gold and silver have continued to show volatility as investors rotated capital away from traditional hedges and back into Bitcoin and other crypto assets. Gold price rose over 1.2% today, while silver gained nearly 4%.

The Coinbase premium fell to a negative reading, suggesting a slight cooling of demand from U.S. institutional buyers

Bitcoin price analysis 

On the daily chart, Bitcoin price has been trading within an ascending parallel channel pattern ever since late March. It has formed higher highs and higher lows consistently over the past several weeks.

Bitcoin price has formed an ascending parallel channel pattern on the daily chart.
Bitcoin price has formed an ascending parallel channel pattern on the daily chart — May 7 | Source: crypto.news

The Supertrend has continued to remain green, a sign that the overall bullish momentum is still firmly in control. At the same time, the MACD lines have formed a positive crossover, which means that buying pressure is increasing in the short term.

Hence, the path of least resistance for Bitcoin lies above the current levels with bulls eyeing the $84,000 to $85,000 range as the next major target. On the contrary, $80,000 remains the psychological floor that must hold to prevent a deeper correction.

Advertisement

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Advertisement

Source link

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Ethereum Price Eyes Mid-Week Bounce as Selling Pressure Craters 85%

Published

on

Inverse Head Shoulders

Ethereum (ETH) price hovers near $2,330 mid-week with sellers fading sharply, leaving an 8-hour reversal structure one candle away from confirming a possible bounce.

The setup ties together a textbook bottoming pattern, an exhaustion signal on momentum, and an 85% drop in coins flowing onto exchanges. Whether ETH delivers the bounce depends on a single candle holding the line.

Ethereum Price Builds Reversal Structure as Momentum Quietly Diverges

The 8-hour chart shows ETH carving an inverse head-and-shoulders since mid-April. The pattern prints a low (left shoulder), a deeper low (head), and a higher low (right shoulder). The right shoulder formation is close to being confirmed now.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Advertisement

Sitting under that price action is a developing hidden bullish divergence. ETH price has made a higher low between mid-April and early May, while RSI (relative strength index), a momentum gauge, is close to printing a lower low over the same window. Hidden bullish divergence often signals exhaustion of selling pressure, not the start of a fresh leg down.

Inverse Head Shoulders
Inverse Head Shoulders: TradingView

The trigger is binary. If the next candle holds above the current right-shoulder floor ($2,309 to be exact), the divergence confirms and the pattern stays alive. If sellers force a break, both the structure and the divergence collapse together.

That setup, however, needs validation from on-chain flows before it earns the right to a projected 9% price target.

Sellers Retreat as Mid-Term Holders Build Their Stack

Glassnode data shows the exchange net position change, a metric that tracks tokens flowing in and out of exchanges, eased sharply this week. The reading peaked at 78,930 ETH on May 3, when fresh inflows pointed to selling pressure rising. By May 6, that figure had dropped to 11,504 ETH, an 85% reduction.

The collapse suggests whoever was offloading ETH around the right shoulder may be running out of supply.

Advertisement
ETH Exchange Net Position
ETH Exchange Net Position: Glassnode

A second on-chain layer reinforces the read. Glassnode’s HODL waves group supply by how long holders have kept their coins. The 6-month to 12-month cohort sat at 18.12% of supply on April 22. By May 6, that share had climbed to 21.49%.

The data suggests mid-term holders are adding to their position even as price stays compressed. This cohort often re-engages near cycle bottoms.

ETH HODL Waves
ETH HODL Waves: Glassnode

Both flows lean in the same direction as the chart pattern. The price chart now becomes the decider on whether buyers convert that backdrop into a measurable move this week.

Ethereum Price Levels That Decide the Mid-Week Move

With the pattern, divergence, and on-chain flows aligned, the focus shifts to the price ladder on the 8-hour chart. The current right-shoulder floor sits at $2,309, marked as the 0 Fibonacci anchor.

The first hurdle is $2,358. ETH then needs to reclaim $2,388 (0.382 Fib) and $2,412 (0.5 Fib). The 0.5 level briefly capped price on May 6 before sellers stepped in.

The neckline sits at $2,423, lining up between the 0.5 and the 0.618 Fibonacci at $2,436. A clean break above this band activates the pattern. The measured move projects roughly 9% upside from the neckline. That target lines up with the 1.618 Fibonacci extension at $2,642.

Advertisement
Ethereum Price Analysis
Ethereum Price Analysis: TradingView

The downside ladder is just as defined. Failure to reclaim $2,358 followed by a loss of $2,309 would invalidate the right shoulder. Below that, $2,218, the head’s low, is where the entire pattern unwinds.

Hidden bullish divergence and falling exchange inflows both lean toward the bounce read, but neither replaces a confirmed close. Ethereum managing to stay above $2,309 separates a 9% Ethereum price bounce toward $2,642 from a slide to the $2,218 invalidation floor.

The post Ethereum Price Eyes Mid-Week Bounce as Selling Pressure Craters 85% appeared first on BeInCrypto.

Source link

Advertisement
Continue Reading

Crypto World

Major Ripple (XRP) Metric Just Hit a Level Not Seen Since 2021

Published

on

Ripple (XRP) posted a minor increase in the last 24 hours, pushing the asset’s monthly surge to 7%. Despite this, the $1.45 level remains a major hurdle for the asset.

Against this backdrop, data suggest that there has been a clear shift in the behavior of major investors over recent months.

XRP Selling Pressure Indicator

According to CryptoQuant’s latest analysis, whale inflows of XRP to Binance have dropped to their lowest level since November 2021. The firm explained that the 30-day cumulative inflow indicator, also known as Sum 30D, climbed to around 2.6 billion XRP at the beginning of March, which was indicative of a strong movement of tokens from whales toward the exchange.

Large transfers of crypto assets to centralized trading platforms are often linked to increased selling activity or portfolio repositioning by major holders. However, since reaching that peak, the indicator has steadily moved lower and has now fallen to nearly 736 million XRP.

Advertisement

As such, CryptoQuant stated that this is the lowest level recorded for the metric in more than three years. The decline essentially points to exchange-related selling pressure from whales easing considerably compared to earlier months. The analysis also revealed that the continued drop in inflows during a period of broader market volatility may reflect a more cautious stance among large investors as uncertainty remains across the crypto market.

It is important to note that lower whale inflows to exchanges are generally viewed as a positive signal because they reduce the risk of sudden sell-offs caused by large token transfers. Hence, if the trend continues and inflows remain low while demand and price conditions improve, the data could support XRP in building a more stable price base over time as selling pressure from major holders continues to weaken.

Institutional Demand and Global Expansion

On the institutional front, US spot XRP ETFs have shown renewed momentum. After seeing more than $31 million in outflows during March, the products rebounded sharply in April with $81.6 million in inflows. The positive trend has continued into May, as the funds have attracted more than $28 million in fresh inflows so far this month.

Meanwhile, Ripple has continued expanding its activity across several markets in recent months. The company recently partnered with OKX for the listing of its RLUSD stablecoin and also joined efforts with the Crypto ISAC network to share information related to North Korean cyber threat actors targeting the crypto sector.

Advertisement

It has additionally expanded its regional presence in the Middle East and Africa through new office openings.

In South Korea, the company signed a partnership agreement with internet-only lender KBank to move blockchain remittance testing beyond early-stage trials and focus on real-world integration and scalability. The agreement was signed at KBank’s headquarters in Seoul with executives from both firms in attendance, including Ripple Asia-Pacific Managing Director Fiona Murray.

Prior to that, Ripple had entered another South Korean partnership with Kyobo Life Insurance to work on institutional digital asset infrastructure tied to tokenized government bond transactions.

The post Major Ripple (XRP) Metric Just Hit a Level Not Seen Since 2021 appeared first on CryptoPotato.

Advertisement

Source link

Continue Reading

Crypto World

Toobit Confirms Over 100% Asset Backing in Latest Hacken Proof of Reserves Report

Published

on

Toobit is one of the most popular international cryptocurrency exchanges, and it has just announced the publication of its most recent Proof of Reserves report, which was independently verified by Hacken.

Over 100% Collateral Ratio

The assessment conducted by Hacken confirms that the exchange is maintaining a collateral ratio of more than 100% across all in-scope digital assets. These include BTC, ETH, USDT, and USDC.

This audit confirms that there’s a safe 1:1+ backing for every trader deposit. The findings also verify that there is a reserve surplus that ensures all trader liabilities are fully over-collateralized.

Additionally, the verification process validated the individual balances of more than 640,000 accounts. This was achieved by cross-referencing loads of internal data against legal documentation, as well as against official statements from third-party institutional custodians to guarantee the highest level of accuracy.

Advertisement

Report Mechanics

To deliver full transparency, Hacken used a multi-stage methodology that was focused on three key stages. First, the auditors performed a Proof of Liabilities. To do so, they verified the total balances of more than 600,000 liability holders to make sure that there was an accurate representation of client deposits.

The second stage was Asset Verification. During this, auditors compared the total reserve balances against the client liability report to verify whether they covered them in full. Last but not least, the process included Operational Oversight, aiming to review information flow and custodial reporting, which ensures all data remains authentic and unaltered.

In conjunction with the audit results, Toobit has launched an upgraded Proof of Reserves page, which moves beyond static reporting to a dynamic transparency model. This hub is designed to ensure that traders are able to monitor live reserve ratios for major tokens and access historical audit data through a user-friendly and accessible interface.

Merkle Tree Technology

A critical component and part of this portal is the integration of Merkle Tree technology. By consolidating trader balances into a singular and secure Merkle root hash, the crypto exchange is able to offer a transparent and tamper-proof method for everyone to verify that their specific account balance was actually included in the audit.

Advertisement

This cryptographic proof is designed to ensure accountability while also maintaining privacy for all traders.

It’s important to note that the full audit report is readily available for public review. The detailed documentation regarding the audit scope, methodology, and technical findings can be found on the official website of Hacken.

With all of the above said, it’s crucial to understand that cryptocurrency exchanges have entered a maturation phase, which is largely driven by independent verification.

Industry leaders maintain reserve coverage ratios between 124% and 125%, far exceeding the 100% safety benchmark. Moreover, as frameworks such as MiCA intensify supervision, long-term operational stability is defined by “compliance by design,” integrating Proof of Reserves and transparent disclosures into core infrastructure.

Advertisement

The post Toobit Confirms Over 100% Asset Backing in Latest Hacken Proof of Reserves Report appeared first on CryptoPotato.

Source link

Continue Reading

Crypto World

Bitcoin stalls below $83K while altcoins flash bullish rotation: Crypto Markets Today

Published

on

Bitcoin stalls below $83K while altcoins flash bullish rotation: Crypto Markets Today

The crypto market dropped back on Thursday with bitcoin losing around 0.7% since midnight UTC following Wednesday’s rally to a three-month high of $82,800.

Ether lost around 1% during Asia and European hours, now trading at $2,325 having briefly topped $2,420 on Wednesday.

The broader market is showing early signs of a bullish reversal following a two-month consolidation pattern between February and April, although it’s worth noting that bitcoin needs to break $98,000 in order to break its current cycle of lower highs and lower lows.

The altcoin market continues to indicate investor rotation, with the likes of ALGO and TON rising by between 8% and 9% since midnight UTC.

Advertisement

U.S. equity futures are flat on Thursday while the dollar index (DXY) is down by around 0.1% as investors remain hopeful over a deal to end the war in Iran.

Derivatives positioning

  • Crypto futures market activity remained relatively subdued over the past 24 hours, with total futures volume rising just 3% to $216 billion, while aggregate open interest (OI) declined 3% to $133 billion. The divergence between suggests that positioning is being reduced rather than expanded, pointing to deleveraging across the market.
  • BTC open interest fell to 762K BTC from 793K BTC a day earlier, ending a three-day streak of sustained positioning growth. Among major assets, DOGE recorded the sharpest decline in OI, down 6%, while XRP OI slipped roughly 1%. The declines across these assets suggest capital outflows and reduced speculative appetite in the near term.
  • DOGE positioning appears particularly weak. Funding rates remain negative at an annualized rate of around 6%, indicating that short positions are paying longs to maintain exposure. At the same time, DOGE’s 24-hour cumulative volume delta (CVD) is the most negative among major tokens, signaling aggressive selling pressure from market participants using market orders.
  • BTC funding rates, meanwhile, remain broadly neutral after averaging around minus 4% annualized in recent weeks. The normalization in funding suggests that excessive bearish positioning has largely been flushed out of the market. Some observers view this reset as constructive for BTC price action.
  • In contrast, ETH and SOL both recorded OI increases of 1% or more despite weakening spot prices. Rising open interest alongside falling prices typically suggests fresh short positioning is entering the market, indicating traders may be positioning for additional downside in these tokens.
  • TON continues to stand out on the positioning front. Open interest climbed more than 10% to another record high, signaling continued capital inflows into the asset. TON’s price briefly reached $2.90 earlier today, its highest level since September, and the token is now up 93% on the week. The simultaneous rise in both price and OI points to strong directional participation.
  • TON, TRX, and ZEC are currently the only top-30 tokens posting OI-adjusted positive cumulative volume delta readings. This suggests buyers are driving trading activity through aggressive market orders rather than passive limit bids. Most other major assets, including BTC, ETH, and XRP, continue to show negative CVD readings.
  • In the options market, bullish sentiment remains evident on Deribit, where call options at strike levels above $80,000 continue to dominate 24-hour volume rankings. According to Glassnode, dealers with short gamma exposure may buy into a potential BTC move above $82,000 to maintain hedges. That could further add to momentum.
  • Meanwhile, the one-month volatility risk premium, which measures the gap between implied volatility (IV) and realized volatility (RV), has turned positive again, per Glassnode. This shift indicates renewed demand for short-dated optionality and suggests traders are increasingly willing to pay for near-term volatility exposure after a prolonged period of compressed expectations.

Token talk

  • CoinDesk’s DeFi Select Index (DFX) and the CoinDesk MemeCoin Select Index (CDMEME) are the best performing benchmarks on Thursday, rising by 2.5% apiece as speculative trading begins to come into effect.
  • The Bitcoin-weighted CoinDesk 5 (CD5) and CoinDesk 20 (CD20) indices are flat since midnight UTC, while the broader CoinDesk 100 (CD100) was also marginally in the red.
  • CoinMarketCap’s “altcoin season” indicator is now at 45/100, its highest level since late March having risen from 32/100 since this time last month.
  • Despite the wider altcoin market being optimistic, popular DeFi token MORPHO lost 4.6% of its value since midnight UTC and 6.1% over the past 24 hours. it is currently trading at $2.13 with investors taking profits following a rally earlier in the week that lifted it from $1.95 to $2.33.

Source link

Continue Reading

Crypto World

Ethereum price confirms bullish setup as institutional demand holds firm, breakout ahead?

Published

on

Ethereum price has broken out of a bull flag pattern on the daily chart.

Ethereum price has pared off some gains after facing resistance at $2,400 this week. A confirmed bullish pattern on the chart, however, positions it for strong upside in the coming sessions.

Summary

  • Ethereum climbed to a weekly high above $2,400 before stabilizing near $2,300 as broader crypto markets reacted to easing geopolitical tensions.
  • Spot Ethereum ETFs recorded a fourth straight day of inflows, with more than $270 million added, signaling continued institutional demand.
  • Ethereum confirmed a bull flag pattern on the daily chart, with technical indicators pointing toward a potential breakout above the $2,800 resistance zone.

According to data from crypto.news, Ethereum (ETH) price rose nearly 7% to a weekly high of $2,411 on Wednesday before stabilizing over $2,300 at press time.

Ether, along with the broader crypto market, has entered a period of cautious calm as Iran is reportedly pondering a U.S. proposal to end the war and open up the Strait of Hormuz, bringing balance once again to global energy supply chains and trade.

Advertisement

Despite this investor uncertainty, institutional investors continue to stack their positions in the token. Data from SoSoValue shows that spot Ethereum ETFs extended their inflow streak to the fourth day with over $270 million drawn in the period. This persistent demand from deep-pocketed investors suggests their belief in the token’s future potential and often pulls in fresh capital from retail investors over time.

On the daily chart, Ethereum price has confirmed a bull flag pattern and is eyeing a move above the 38.2% Fibonacci retracement level at $2,381. A decisive break above the flag’s upper boundary could accelerate the rally towards the $2,800 resistance zone or onwards to $3,000 if the current momentum sustains.

Ethereum price has broken out of a bull flag pattern on the daily chart.
Ethereum price has broken out of a bull flag pattern on the daily chart — May 7 | Source: crypto.news

Momentum indicators seem to support such a bullish outlook as the Supertrend has remained in the green, indicating a healthy uptrend. At the same time, the MACD lines are close to forming a bullish crossover, which typically signals that the bulls are ready to take back control of the market.

On the contrary, a failure to hold current levels could see Ethereum drop back toward the $2,200 support level, where buyers would likely step in to defend the primary trend.

Advertisement

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Advertisement

Source link

Continue Reading

Crypto World

Core Scientific sold $208 million of bitcoin in Q1 as AI pivot continues

Published

on

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

Core Scientific (CORZ) reported a $347.2 million first-quarter loss even as revenue rose to $115.2 million, as the former bitcoin mining heavyweight sold 2,385 bitcoin for $208.3 million and wrote down $266.5 million of mining-related assets.

The company said the bitcoin sales were used to fund capital expenditures and other cash needs, extending a pattern of miners selling BTC to fund AI data centers.

The company also closed a $3.3 billion offering of 7.75% senior secured notes, proceeds it plans to use for data center development and to repay a $1 billion term loan facility. The bond sale was aimed at funding its shift from crypto mining to AI-focused data center operations.

Colocation revenue, the company revealed, rose to $77.5 million from $8.6 million a year earlier, making it Core Scientific’s largest business line, according to the company’s earnings release.

Advertisement

Crypto mining revenue fell to $30.1 million from $67.2 million, driven by a 45% drop in bitcoin mined and an 18% drop in the average bitcoin price, CORZ said.

The company operated 10 data centers across seven U.S. states at the end of March, representing about 1.9 GW of gross utility power capacity and 1.3 GW of leasable customer power capacity, according to its latest 10-Q.

Core Scientific said in its filing that its first high-density colocation contract with CoreWeave was later expanded to 590 MW of leased customer power capacity.

A February 2025 expansion brought CoreWeave’s contracted infrastructure with Core Scientific to about 590 MW across six sites and lifted projected revenue to $10.2 billion over 12-year terms.

Advertisement

Customer concentration remains high. Core Scientific’s 10-Q said one colocation customer generated 67% of total revenue in the first quarter, up from 11% a year earlier.

Core Scientific’s AI pivot has been under investor scrutiny since CoreWeave’s failed roughly $9 billion all-stock takeover attempt. The company emerged from Chapter 11 in 2024 and has since become one of the main examples of bitcoin miners trying to turn access to power into contracted AI infrastructure revenue.

It ended March with $1.04 billion of liquidity, including $1.01 billion of cash and $37.3 million of bitcoin.

Source link

Advertisement
Continue Reading

Crypto World

Bithumb, SSI Digital Target Vietnam’s Tight Crypto Pilot

Published

on

Bithumb, SSI Digital Target Vietnam’s Tight Crypto Pilot

South Korean crypto exchange Bithumb is expanding its overseas push through a new partnership in Vietnam as the country moves toward licensing its first domestic digital asset trading platforms.

Bithumb said it signed a memorandum of understanding (MoU) with SSI Digital (SSID), a subsidiary of Vietnam’s largest securities company, SSI Securities, to cooperate on establishing and operating a virtual asset exchange in the country.

The agreement, signed in Hanoi in March but announced Thursday, also leaves the door open for Bithumb to make a strategic equity investment in an SSID-designated entity, subject to Vietnam’s regulatory approvals.

The move positions Bithumb for Vietnam’s pilot program for licensed domestic digital asset trading platforms, creating a potential entry point into one of Southeast Asia’s fastest-growing crypto markets.

Advertisement

Vietnam’s tight crypto pilot race

Vietnam’s five-year crypto asset pilot, unveiled in September 2025, requires exchange operators to be Vietnamese entities with at least 10 trillion dong ($380 million), in charter capital and caps foreign ownership at 49%. Authorities are also drafting rules that could restrict trading on unlicensed overseas platforms.

Bithumb and Vietnam’s SSID Collaborate. Source: Bithumb

Competition for licenses is already intensifying. A Finance Ministry document cited by Reuters in March said five firms, including affiliates of private banks Techcombank, VPBank and LPBank, along with broker VIX Securities and conglomerate Sun Group, have already cleared an initial qualification round.

Related: Bank of Korea floats crypto ‘circuit breakers’ after Bithumb blunder

One of the most advanced bids is VPBank-linked CAEX, which secured backing from OKX Ventures and HashKey Capital in April to help meet Vietnam’s minimum charter capital threshold for the pilot. Bithumb’s Vietnamese partner, SSI Securities, is one of the country’s largest brokers and set up SSI Digital Technology JSC to spearhead its push into digital assets in 2022. Vietnam was ranked fourth in global crypto adoption in 2025 by blockchain forensics firm Chainalysis.

Advertisement

According to Bithumb’s press statement, the company and SSID plan to collaborate across exchange technology, wallet and custody systems, security and risk management, regulatory support and institutional business development. No timeline has been given for a formal license application or final investment decision, and Vietnam has not yet approved any fully licensed crypto exchange under the pilot.

Cointelegraph reached out to Bithumb for comment but had not received a response by publication.

Korea headwinds raise stakes

The expansion plan comes as Bithumb faces heightened scrutiny in its home country following a high-profile payout error and a delayed listing timeline.

The exchange has pushed back its initial public offering (IPO) to sometime after 2028, with management saying it needs to strengthen accounting policies and internal controls after earlier regulatory sanctions.

Advertisement

In February, Bithumb mistakenly credited customers with 620,000 Bitcoin instead of 620,000 won during a promotional event, briefly creating more than $40 billion in notional balances and triggering sharp price swings on the platform. The firm says it recovered 99.7% of the funds and is now pursuing legal action to reclaim the remaining 7 BTC.

Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Source link

Advertisement
Continue Reading

Crypto World

Bitcoin Miners’ Q1 Losses Mount as AI Pivots Accelerate

Published

on

Kenya Moves Closer to Regulating Crypto Firms With VASP Framework

Bitcoin (BTC) miners reported widening net losses in the first quarter of 2026 as declining Bitcoin prices, broader market pressures, and other factors weighed on the firms.

Hut 8 (HUT), Core Scientific (CORZ), American Bitcoin (ABTC), Cipher Digital (CIFR), and Riot Platforms (RIOT) all reported losses.

Bitcoin Miner Q1 Losses Hit Sector 

According to its latest press release, HUT posted a net loss of $253.1 million in the first quarter of 2026. The losses widened from $134.3 million recorded during the same period last year. 

“Net loss for the period included $295.7 million of primarily unrealized losses on digital assets, compared to $112.4 million in the prior year period,” the firm noted.

Follow us on X to get the latest news as it happens 

Advertisement

Meanwhile, American Bitcoin, the Bitcoin mining and treasury company co-founded by Eric Trump, reported an $81.8 million net loss for the first quarter, up from a $59.5 million loss in the previous quarter. 

Again, the company’s digital asset holdings were the main drag, contributing to $117.18 million in losses. 

“We produced Bitcoin at a 52% gross margin despite a 22% decline in Bitcoin price, reflecting meaningful cost improvements that partially offset the price headwind. Our cost to mine fell to approximately $36,200 per Bitcoin, down from roughly $46,900 in Q4 2025,” Matthew Prusak, President of American Bitcoin, said.

Core Scientific reported a net loss of $347.2 million, primarily due to $266.5 million in non-cash impairment charges. The company was also impacted by a $30.8 million non-cash loss tied to changes in the fair value of warrants and contingent value rights. 

Cipher Digital’s $114 million loss followed the Black Pearl mining wind-down, a fair-value decline on its power contract, and higher interest expense from new debt facilities. Lastly, Riot Platforms’ quarterly loss exceeded $500 million.

Advertisement

Miner Stock Reactions

Meanwhile, mining stocks posted modest declines in after-hours trading following the disclosure of losses. Google Finance data showed that HUT surged 35% to $108.94 during regular trading on May 6 before slipping 1% in after-hours trading. 

CORZ rose 11% to $24.63 during the session, then fell 7.2% to $22.85 after hours. ABTC gained 1.6% to $1.25 in regular trading before erasing those gains in pre-market activity.

AI Data Center Pivot Reshapes the Sector

The earnings reports landed alongside fresh AI data center moves at every firm. Hut 8 unveiled a $9.8 billion Beacon Point lease.

Cipher Digital signed its third hyperscale lease in Q1. Riot Platforms booked $33.2 million of data center revenue. Core Scientific continues repurposing mining facilities for colocation services.

Advertisement

Whether the pivot offsets pressures on the underlying mining business will become clearer in the time ahead.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

The post Bitcoin Miners’ Q1 Losses Mount as AI Pivots Accelerate appeared first on BeInCrypto.

Source link

Advertisement
Continue Reading

Crypto World

Crypto Burglar Known as ‘GothFerrari’ Draws 78-Month Prison Term

Published

on

FBI Charges 30 Individuals for Insider Trading Tied to Law Firms

A US judge has sentenced a California man known as GothFerrari to 78 months in prison for his role in a crypto social engineering ring that turned to home burglaries when victims could not be deceived online.

Marlon Ferro, 20, of Santa Ana, also faces $2.5 million in restitution and three years of supervised release.

Inside the $250 Million Crypto Theft Ring

A multi-year federal investigation revealed that the enterprise drained more than $250 million in cryptocurrency from victims between late 2023 and early 2025. Its members operated out of California, Connecticut, New York, Florida, and overseas.

The crew specialized in roles that included database hacking, target identification, fraudulent phone calls, and money laundering. When social engineering failed, the ring sent Ferro to physically steal hardware wallets from victims’ homes.

Advertisement

“Marlon Ferro served as the criminal enterprise’s instrument of last resort… they turned to Ferro to break into homes and steal hardware wallets outright,” US Attorney Pirro said.

Follow us on X to get the latest news as it happens 

Brick-Through-Window Crypto Burglaries and Designer Spending

According to the press release, in February 2024, Ferro broke into a home in Winnsboro, Texas, and stole a hardware wallet. The device held roughly 100 Bitcoin (BTC), then valued at more than $5 million.

That July, Ferro went to New Mexico and surveilled a residence with a hidden cell phone. He smashed a window with a brick when co-conspirators tracking the victim’s iCloud account signaled the home was empty.

Beyond burglaries, Ferro laundered funds for the ring. Using fake identification from a foreign national, he opened a geo-blocked payment card account. The setup funneled over $255,000 in designer clothing to co-conspirators.

Advertisement

Stolen money also bankrolled extravagant spending. Court papers cite nightclub tabs of up to $500,000 per night and Hermès Birkin bags. Private jets and exotic cars valued up to $3.8 million were also part of the haul.

Authorities arrested Ferro in May 2025 with two firearms in his possession. He pleaded guilty in October 2025 to one count of conspiracy to participate in a racketeering-influenced and corrupt organization

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

The post Crypto Burglar Known as ‘GothFerrari’ Draws 78-Month Prison Term appeared first on BeInCrypto.

Advertisement

Source link

Continue Reading

Crypto World

Why More People Are Choosing Crypto-Friendly Gift Card Platforms

Published

on

Crypto-friendly gift card platforms are designed to make it very easy to convert digital assets into real purchases. Now more than ever, users are buying gift cards with crypto on CoinsBee to shop online, access global brands, and spend their cryptocurrencies without having to trely on traditional payment methods.

It’s one thing to own crypto, but it’s a completely different matter to use it without friction. For this reason, crypto-friendly gift card platforms have historically been surging in popularity. That growing interest explains why more users now choose to buy gift cards with crypto on CoinsBee as a practical way to turn digital assets into everyday spending power.

Why Crypto Gift Cards Are Becoming a Go-To Option

For a lot of consumers, the appeal of these cards comes down to one thing – they are just more usable. People want simple, straightforward ways to turn crypto into something practical without having to jump through extra hoops.

Crypto-friendly gift card platforms are one of the things that make it possible. This is because they connect digital assets with real purchases, which helps to explain why they are becoming a relatively natural part of everyday online shopping.

Advertisement

The Rise of Crypto-Friendly Gift Card Platforms

It goes without saying that the crypto industry has matured well beyond its early image when it was a niche field reserved for cyphurpunks and tech enthusiasts. Today, many consumers want real-world ways to use their coins – whether for entertainment, travel, shopping, or everyday services.

This is gift cards come into play – they bridge the gap between digital assets and mainstream retail customers. Current adoption trends are also pointing toward a broader momentum, with Chainalysis reporting strong global consumer crypto adoption last year, going into this year as well.

Undoubtedly, another reason for this increase is the sheer convenience. Traditional crypto checkout options tend to be unavailable everywhere, and many merchants don’t yet accept crypto payments directly. This problem is solved by crypto gift cards because instead of waiting for every store to add native crypto support, users can buy branded cards and use them almost instantly and everywhere.

This model suits the way people show now – modern buyers value speed, mobile access, and simple transactions. A crypto-friendly platform allows them to use Bitcoin, Ethereum, or other assets for purchases without having to move funds through multiple apps, exchanges, wallets, or whatnot.

Advertisement

Benefits of Using Cryptocurrency for Digital Purchases

As opposed to converting assets into fiat before spending them, people are able to use Bitcoin, Ethereum, as well as other cryptocurrencies directly for purchases through gift cards.

Some of their main benefits include:

  • Greater Flexibility for Crypto Holders: Users can turn their holdings into digital vouchers for well-known brands without first converting crypto into traditional currency;
  • Faster Access to Purchases: Crypto transactions are often processed quickly, allowing users to obtain gift cards or balances without waiting for bank transfers or lengthy payment processing;
  • More Privacy and Independence from Traditional Payment Systems: Some people prefer not to rely on credit cards or bank accounts for every purchase. Crypto gift cards offer an alternative way to shop online;
  • Convenient for Cross-border Spending: For people who travel frequently or live in regions where international payments can be complicated, crypto gift cards provide an easier option for purchases and online gifting.

How to Pick a Trusted Platform for Crypto Gift Cards

It’s important to understand that not every single platform offers the same experience. That’s why it’s important to choose the right one. When selecting a service which will convert your crypto into digital cards, here are a few essential factors you should undoubtedly keep in mind.

  1. Clear Coverage and Availability: A reliable platform should clearly show which brands are available, which countries are supported, and which cryptocurrencies can be used;
  2. Transparent Pricing and Checkout: Users should be able to see the cost of each card, understand how the checkout process works, and complete crypto payments without confusion. If the platform feels vague or complicated, it can be a warning sign;
  3. Strong Security and Reputation: A trustworthy service usually has a solid track record, supports popular cryptocurrencies, and offers a secure environment for transactions;
  4. A Wide Catalog of Digital Vouchers: Platforms that provide access to many brands give users more flexibility when choosing digital vouchers for personal purchases or online gifting;
  5. A Simple and User-friendly Experience: The best services make the process easy, even for beginners. Users should be able to browse options, choose a value, select their preferred cryptocurrency, and complete the purchase quickly.

Tips for Getting the Most Out of Crypto Gift Cards

Now, crypto gift cards are not just used for one-off purchases – they can become a valuable part of your regular spending routine. Here are a few practical tips that will help you make the most of them.

Match the Card to Your Needs

You should use crypto gift cards for things you truly need if you are to get the best of them. Whether it’s shopping, subscriptions, or travel, if you have a clear idea of what you want to buy, this will ensure your purchases are more efficient and intentional. The approach would make crypto spending purposeful, and it would help you avoid unnecessary purchases.

Time Your Purchases

When you choose to use your crypto can make a big difference. Some users prefer to spend their crypto when the market is stable or after setting aside a portion of their holdings for purchases. Others find it easier to manage their spending with gift cards, as the fixed value makes it simple to track budgets and avoid overspending.

Advertisement

Take Advantage of Online Gifting

Crypto gift cards are an excellent choice for online gifting. They’re fast, easy to send, and require minimal steps, making them perfect for giving digital gifts. With global shopping becoming increasingly cross-border and multi-platform, the flexibility of gift cards provides real convenience.

By keeping these strategies in mind, you can boost the value and convenience of your crypto gift cards, turning them into a practical tool for everyday spending.

Conclusion

Cryptocurrencies have evolved from being just something people hold and watch in their wallets. More users are now seeking practical ways to convert their holdings into real purchases.

Instead of waiting for every store to accept direct crypto payments, users can easily buy gift cards with crypto on CoinsBee and immediately use them for shopping, entertainment, travel, and online services.

Advertisement

Frequently Asked Questions (FAQs)

Why are crypto-friendly gift card platforms becoming more popular?

Crypto-friendly gift card platforms are gaining popularity, largely because they make it easier to use digital assets in everyday life. Instead of having to worry about converting crypto into traditional money through exchanges, users can just buy a gift card and spend it on shopping or online services.

How do I know if a platform is trustworthy?

One thing a trustworthy crypto gift card platform should offer is unparalleled transparency. You should be looking for services that clearly list the supported cryptocurrencies, available brands, and supported countries. The more reliable platforms also provide secure payment processing, simple checkout steps, and clear pricing.

A trustworthy crypto gift card platform should offer transparency, security, and a strong reputation. Look for services that clearly list supported cryptocurrencies, available brands, and supported countries. Reliable platforms also provide secure payment processing, clear pricing, and straightforward checkout steps.

Can crypto gift cards be used for gaming, shopping, and other services?

Yes, crypto-based gift cards are made to be versatile. They can typically be used for a wide range of products and services. Many platforms offer vouchers for gaming platforms, online retailers, streaming services, digital marketplaces, and travel providers.

Advertisement

Are crypto gift cards a safe way to manage digital assets?

Cryptocurrency gift cards can be a safer and more practical option when they are purchased through reputable platforms. They are known to allow users to convert a portion of their digital assets into a fixed-value digital voucher, which makes spending a lot easier.

What should I watch for in the future of crypto gift cards?

The future of cryptocurrency gift cards seems to be focusing on greater accessibility, faster transactions, and wider availability of brands. As crypto adoption grows altogether, more platforms are expected to expand their catalogs and support additional digital assets.

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and to do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

Advertisement

The post Why More People Are Choosing Crypto-Friendly Gift Card Platforms appeared first on CryptoPotato.

Source link

Continue Reading

Trending

Copyright © 2025