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Crypto World

Hyperscalers’ Free Cash Flow Dips as AI Arms Race Hits Balance Sheets

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Claude Mythos Identifies 271 Vulnerabilities in Mozilla’s Firefox

The full-year free cash flow at Amazon, Alphabet, Meta, and Microsoft is set to fall to its lowest level since 2014.

The decline reflects mounting pressure from heavy investments in artificial intelligence (AI).

AI Spending Spree Pulls Big Tech Cash Flow Down

According to recent estimates from Morgan Stanley, hyperscalers including Amazon, Alphabet, Meta, Microsoft, and Oracle could spend nearly $805 billion this year, up from an earlier projection of $765 billion. Forecasts for next year have also been raised sharply to $1.1 trillion.

“To put that into perspective, their 2026 spending alone would be roughly equal to what all non-tech companies in the S&P 500 spent combined in 2025. The expected ~$800bn for 2026 is nearly double the 2025 levels and about three times what was spent in 2024,” reporter Holger Zschaepitz posted.

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The aggressive push into AI is leaving these tech giants with significantly less cash. Wall Street forecasts show the combined free cash flow of Amazon, Alphabet, Microsoft, and Meta could drop to around $4 billion in the third quarter. This marks a dip from the quarterly average of $45 billion since the COVID-19 pandemic.

“Their full-year free cash flow is set to hit the lowest level since 2014, when their revenues were about a seventh of their current size, according to analysts’ estimates compiled by Visible Alpha,” the Financial Times reported.

The report noted that Amazon is projected to spend more cash than it generates this year. Visible Alpha estimates point to a roughly $10 billion cash burn.

The company has also announced plans to invest $200 billion in 2026, marking the largest spending commitment among its peers.

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Meta is also expected to “burn cash” in the second half of the year. Over the past six months, the firm has issued $55 billion in debt and halted share buybacks. 

Meanwhile, analysts expect Alphabet to remain free cash flow positive for the full year, though at its weakest level in more than a decade. The company also refrained from repurchasing shares in the first quarter for the first time since initiating its buyback program in 2015.

“After largely funding their investments from their income for the first few years of the AI boom, these tech giants face trade-offs more familiar to capital-intensive businesses: cutting jobs, reducing shareholder returns or borrowing to fund the build-out,” the report added.

Still, analysts view the pressure on cash flow as temporary. They expect that rising AI-driven revenue will improve cash generation next year.

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SHR Miner Offers Cryptocurrency Enthusiasts a Profitable Path to Earning $5,777

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8

Overview

As an increasing number of people turn their attention to passive income opportunities within the digital economy, technologies such as smart contracts, cloud mining, and cross-chain asset deployment are redefining how average users participate in the cryptocurrency ecosystem. In contrast to traditional mining—which demands substantial hardware investment, complex maintenance, and specialized technical expertise—blockchain-based cloud mining platforms are rapidly gaining prominence, emerging as a more convenient and accessible alternative for the general public.

This article focuses on how beginners can get started with cryptocurrency mining using SHRMiner. It analyzes hardware solutions suitable for newcomers and aims to help users gain a clearer understanding of current trends within the cloud mining industry.

As a leading global platform for cryptocurrency cloud mining services, SHRMiner allows miners to rent mining rig hashpower without the need to own any physical hardware. The platform serves as a bridge connecting sellers of hashpower with buyers eager to participate in cryptocurrency mining. Unlike traditional mining pools—which often require technical configuration and manual wallet management—SHRMiner streamlines the entire process through an automated system. This platform automatically benchmarks hardware performance, selects the most profitable mining algorithms, and distributes payouts to miners in major cryptocurrencies such as Bitcoin, ETH, USDT, and USDC. For newcomers entering the cryptocurrency mining space in 2026, a solid understanding of hardware requirements, profitability calculations, and platform selection remains crucial for making informed investment decisions.

So, how can you earn Bitcoin with SHRMiner?

Once you have leased a mining rig and activated a hash rate contract, you can begin generating returns immediately.

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You can start earning in just three simple steps:

1. Register

Create an account to receive $15 in free hash rate, allowing you to earn $0.60 daily by purchasing a free trial contract (click here to complete registration).

2. Select a Contract Plan

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Choose a popular short-term or long-term cloud mining contract (ranging from 1 to 50 days) based on your personal needs.

3. Start Earning

Track your daily rewards and withdraw your earnings in your preferred cryptocurrency.

Generate Passive Income Through Daily Mining Rewards

Once your mining hardware is up and running, the mining process continues around the clock. The earnings generated from mining are automatically deposited into your account on a daily basis. This provides you with a steady stream of income without requiring any active effort on your part.

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Popular Short-Term Contracts

SHRMiner offers a diverse range of high-yield cloud mining contract plans designed to cater to the varying investment preferences and financial goals of different users. Whether you are seeking flexible short-term returns or prioritizing stable long-term yields, you can find a suitable option on our platform.

Contract Yield Examples

  • Entry-Level Bitdeer Sealminer A2 Pro Contract: $500 – 5 Days – Total Revenue: Approx. $531.25
  • Intermediate Bitcoin Miner S21 XP Imm Contract: $5,000 – 25 Days – Daily Revenue (over 25 days): Approx. $70
  • Professional Bitcoin Miner S21e XP Hyd Contract: $10,000 – 35 Days – Daily Revenue (over 35 days): Approx. $150
  • Advanced ANTSPACE HW5 Contract: $50,000 – 45 Days – Daily Revenue (over 45 days): Approx. $900

For instance, by leasing a hash rate of 280 TH/s, a Bitcoin Miner S21e XP Hyd unit could generate approximately $150 worth of Bitcoin per day; you can track your earnings in real-time via your user dashboard.

Compared to DeFi staking or even yield farming within liquidity pools, SHRMiner offers greater stability and is less susceptible to market volatility. It represents a form of “real yield” derived from infrastructure-based operations, rather than speculative rewards. (Click here for more contract details)

8

Why Investing in SHRminer Is Worth It

The company operates in full compliance within the UK: holding a UK operating license to ensure both regulatory compliance and transparency.

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It operates a global network of 150 large-scale mining farms and data centers, providing genuine mining hash power.

100% Remote Access: No hardware is required; you can track your earnings in real-time directly through the SHRMiner app or the platform’s website.

Utilizes McAfee® and Cloudflare® security protocols to safeguard user accounts and funds.

Full Ownership of Your Hardware: Eliminates third-party risks and requires no payment of additional service fees or hidden charges.

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Mine, Track Earnings, Reinvest: All operations are managed from a single, unified platform.

The New Landscape of Mining: Secure, Flexible, and Profitable.

Security and Support: The platform integrates enterprise-grade security measures, uptime guarantees, and 24/7 customer support to ensure maximum reliability.

With SHRMiner, you don’t need to be a technical expert or manage your own hardware. You can invest directly in high-performance mining—enjoying complete transparency, zero operational costs, and stable daily returns.

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The Final Verdict: Is SHR Miner a Good Tool for Passive Income?

The answer is a resounding yes—its AI-driven cloud mining capabilities are precisely where its strength lies. It offers a sustainable, transparent, and low-maintenance method for generating passive income through legitimate Bitcoin mining infrastructure. This distinct approach sets it apart from the multitude of other Bitcoin mining applications on the market. For those wondering if Bitcoin mining will remain profitable in 2026, SHRMiner represents a prudent choice. It is one of the few platforms capable of transforming mobile-based mining into a genuine source of passive income.

For more details, please visit the official website or download the mobile application.

For more details:

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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S&P 500 call options volume surges to record $2.6 trillion. Here’s what it means for bitcoin

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Call options volume in the S&P 500. (ZeroHedge)

The U.S. stock market is heating up in a way that suggests speculative mania. It matters to bitcoin as analysts have linked the cryptocurrency’s recent rally to increased risk-taking on Wall Street.

The overheating signals come from options tied to the S&P 500. These are derivative contracts that let traders bet on or hedge against moves in the index. A call option is a bet that the index will rise above a certain price within a set time. A put option does the opposite, offering protection from declines in the index.

On Wednesday, U.S. equity derivative exchanges registered a notional volume of $2.6 trillion in S&P 500 call options, according to data tracked by Zero Hedge. That amounted to 60% of total S&P 500 options activity. To put it into context, the notional amount nearly matched the total crypto market valuation of $2.73 trillion, which represents the combined capitalization of thousands of cryptocurrencies, with bitcoin leading the way.

In essence, the majority of market participants were positioned for upside through calls or bullish exposure.

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On the surface, the implication for bitcoin is straightforward: it is bullish. A speculative surge in the S&P 500 could spill over into crypto, driving valuations higher. After all, double-digit gains in the S&P 500 and Nasdaq since early April played a big role in lifting bitcoin to $80,000 from under $70,000 a few weeks ago.

QCP Capital put it best early this week when BTC broke above $80,000: “After a solid April, BTC has begun May on firm footing, breaking above $80k for the first time since January 31. The move appears aligned with equities, reinforcing a broader trend as BTC’s correlation with U.S. stocks climbing back toward 2023 levels, signaling a renewed linkage with risk assets broadly.”

Call options volume in the S&P 500. (ZeroHedge)

That said, the outsized investor bias for bullish exposure in the S&P 500 has raised alarm on social media, with several handles calling it a sign of an overcrowded trade. When too many investors lean in the same direction, in this case, heavily bullish, it leaves the market more vulnerable to sharp reversals in sentiment and positioning if price momentum stalls.

It’s not just social chatter either. Media reports have also cited Goldman Sachs analysts describing the market as being in a “semi-irrational chasing mode,” a phrase widely read as a play on the semiconductor-driven surge in equities.

If that’s not enough, the bullish momentum in the Nasdaq-listed PHLX Semiconductor Sector index (SOX), as measured by the 14-week relative strength index, is strongest since 1999, according to data source TradingView.

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All of that is hinting at speculative frenzy. If it unwinds just as quickly, downside volatility could spill over into bitcoin and the broader crypto market, given their positive correlation. Let’s see how things unfold…

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Bitcoin (BTC) price just plunged to 2-cents for some Revolut users

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(Revolut)

Some Revolut users saw bitcoin briefly display far below market prices on Friday, with app charts showing a sudden plunge before snapping back near prevailing levels, in what appeared to be either a pricing display issue or a liquidity-related dislocation.

Revolut’s official bitcoin page shows BTC briefly marked around £29,414 on Revolut’s one-day chart before returning near £58,600. Other social media posts claimed the app showed even lower prints, including near-zero prices as low as 2-cents, though CoinDesk could not independently verify those levels or confirm whether any trades were actually executed there.

(Revolut)

The issue seemed isolated as no exchange on lists tracked by CoinGecko and CoinMarketCap showed any bitcoin price anomaly. It trades just over $79,000 as of Asian afternoon hours Friday.

Revolut had not responded to a CoinDesk request for comment by publication time.

Some users on X claimed buy orders executed during the disruption, but those reports remain unconfirmed. If trades were filled, Revolut would likely have to determine whether the prints reflected legitimate liquidity, stale quotes, a routing issue or a platform-side pricing error.

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Flash moves in crypto apps can happen for several reasons. A display glitch can show an incorrect price without actual market execution. Thin liquidity on a specific venue or internal pricing rail can also produce sharp wicks if an order sweeps through a shallow book.

“Revolut operates with limited liquidity depth compared to a full exchange, and if a large enough sell order hit a thin book at the wrong moment, it could exhaust all available bids down to that level before the price recovered,” Ranveer Arora, co-founder and CEO of Altura, told CoinDesk in message as a possible explanation.

In other cases, market makers briefly pull quotes, spreads widen, and apps relying on aggregated feeds may display prices that do not match deeper global markets.

Crypto has seen similar isolated dislocations before. Bitcoin briefly printed far below market on Binance’s USD1 pair in December in a move tied to a thinly traded pair rather than broader selling. South Korean exchanges also saw sharp local wicks during the country’s martial-law shock in 2024 as activity surged and local order books briefly broke from global prices.

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Zcash Price Soars as Traders Rotate Into Privacy-Focused Crypto

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Zcash Price Soars as Traders Rotate Into Privacy-Focused Crypto

Privacy-focused cryptocurrency Zcash (ZEC) has spiked by more than 70% over the past week as crypto traders have been paying closer attention to privacy-focused projects.

Zcash traded at about $346 on Friday, May 1, before hitting a seven-day peak of $593.86 on Wednesday. It has since settled at around $570 as of Friday, according to CoinGecko.

Pav Hundal, lead market analyst at crypto exchange Swyftx, told Cointelegraph that traders have begun paying closer attention to privacy projects “amid broader concerns about the impact of AI, quantum computing and financial surveillance on crypto.”

He added that ZEC was also boosted after Tushar Jain, the co-founder of the investment firm Multicoin Capital, said on Wednesday that it had “built a significant position” in ZEC since February.

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Zcash is one of the more prominent privacy-focused cryptocurrencies, trailed by its significant rival Monero (XMR), and Jain said it is an attractive investment as “institutions will increasingly seek private assets to protect themselves” from what he claimed was a “political trend to seize private wealth.”

Several crypto firms have also recently released new privacy features. The Ethereum scaling solution Polygon launched private stablecoin payments on Sunday, while Aptos Labs’ privacy feature Confidential APT, which conceals token balances and transfer amounts, went live on the mainnet in April.

The market intelligence platform Santiment said in an X post on Wednesday that Zcash was “emphatically rebounding,” as fear of missing out and social media mentions of Zcash spiked along with its price.

Santiment pointed to a lack of government trust as a possible catalyst for the surge in interest from retail traders. 

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Source: Santiment

“The crowd is increasingly viewing privacy-focused assets as a hedge against growing surveillance concerns, tighter exchange regulations and expanding AI-driven data tracking across financial platforms,” Santiment said.

Related: Dash Evolution chain integrates Zcash Orchard privacy pool

“At the same time, lower market caps across many privacy coins have traders eyeing them as high-upside momentum plays during this mild altcoin rally crypto has seen so far in May,” it added.

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Zcash rally could be short-lived

Privacy was a significant investment theme for crypto in 2025, with privacy-focused tokens surging last year despite a broader downturn in the rest of the market.  

Zcash nearly crossed $700 in November, its highest price since 2018, while fellow privacy coin Monero reached a new all-time high of $797.73 in January.

However, neither held on to the gains, and Swyftx’s Hundal said that the recent rally could also be short-lived.

“Zcash’s move has some hallmarks of a narrative rotation into privacy coins,” Hundal said. “I’d be careful calling it a clean fundamental repricing just yet. We need more time to see how durable investor interest is.” 

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Magazine: Guide to the top and emerging global crypto hubs — Mid-2026 

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.

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CLARITY Act: Banking Lobby Targets Stablecoin Bill in Crypto Policy War

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Five of the most powerful banking trade groups in the United States are allegedly running a coordinated campaign to kill the CLARITY Act. This is likely happening even as Senate lawmakers lock in a committee markup for the week of May 11, which targets President Trump’s desk before July 4.

The American Bankers Association, the Bank Policy Institute, the Consumer Bankers Association, the Financial Services Forum, and the Independent Community Bankers of America issued a joint rejection of the Tillis-Alsobrooks stablecoin compromise language. The same compromise their representatives helped negotiate over months of closed-door talks.

The TradFi vs DeFi fault line running through crypto policy has never been more visible. With the CLARITY Act advancing through the Senate and institutional capital watching every procedural move, the banking lobby’s last-ditch push to stall stablecoin regulation is setting up a defining confrontation in American financial policy.

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Banks Claim a 20% Capital Drain, But…

The banking coalition’s stated objection centers on Section 404 of the CLARITY Act, which governs yield restrictions on payment stablecoins. The coalition argues the Tillis-Alsobrooks language contains loopholes, specifically that digital asset exchanges can still distribute rewards tied to customer tenure, account balances, and duration, even if those rewards aren’t technically labeled as interest.

It is reported that banks’ internal research claims yield-bearing stablecoin alternatives could siphon enough liquidity to reduce available capital for consumer, small-business, and agricultural loans by as much as 20%.

The American Bankers Association escalated beyond lobbying on May 6, launching targeted Washington, D.C., media ads, funded by over 3,000 member banks at an estimated $2.5 million budget, framing stablecoin yield mechanisms as “unregulated deposit theft.” A planned Capitol Hill fly-in with 200 bank CEOs on May 9 is designed to apply direct pressure on Senate offices before amendments close on May 10.

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The coalition also points to a 2026 OCC report estimating $300 billion in deposit flight risk by 2028 if Section 404 loopholes go unaddressed, and Federal Reserve data showing $120 billion in crypto stablecoin reserves already mirroring money market fund yields.

Senator Tillis, who co-authored the compromise, pushed back directly, stating that traditional financial stakeholders had a seat at the negotiating table for months, that the current text explicitly prohibits stablecoin rewards from functionally mimicking bank deposit interest. The senator also noted that certain factions may simply oppose any passage of the CLARITY Act, using the stablecoin yield debate as a mechanism to stall the bill indefinitely.

Discover: The best crypto to diversify your portfolio with

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Crypto Industry Sees $1 Trillion on the Line, and CLARITY Act Obstruction in Plain Sight

The crypto industry’s read on the banking lobby’s strategy is blunt. Alex Thorn, head of research at Galaxy Digital, noted that Senator Tillis absorbed significant criticism from the digital asset sector specifically for bringing banks into the negotiation in the first place, and that the coalition’s rejection of the resulting concessions exposes an underlying strategy of obstruction rather than constructive amendment.

Galaxy Digital analysts also project that CLARITY Act passage could unlock $1 trillion in institutional inflows by establishing the regulatory certainty that has kept major capital on the sidelines.

Coinbase CEO Brian Armstrong called the banks’ tactics “anti-competitive sabotage”, arguing that yield restrictions would stifle user incentives for 15 million U.S. stablecoin holders already accustomed to real-world stablecoin utility in payments and settlements.

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White House Crypto Czar David Sacks sharpened the administration’s position, stating that “banks’ greed or ignorance is blocking America’s digital future” and confirming Trump administration backing for the bill.

Senator Cynthia Lummis, chair of the Senate Banking Subcommittee on Digital Assets, issued the starkest call yet:

“The digital asset industry has waited long enough. Businesses are making decisions where to build RIGHT NOW, and without clear rules, too many will go overseas. We must get Clarity done now. America’s financial future depends on it.”

The banking lobby is not fighting a loophole. It is fighting a bill that works.

Discover: The best pre-launch token sales

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HarrisX Poll Found 52% of Registered Voters Support the CLARITY Act

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HarrisX Poll Found 52% of Registered Voters Support the CLARITY Act

Nearly half of US voters are willing to cross party lines to get clear crypto regulation off the ground, while public support for the CLARITY Act could bring an electoral benefit for politicians, according to a new survey from HarrisX.

The poll included responses from 2,008 registered voters from May 1-4. It found that 52% of respondents support the CLARITY Act, with just 11% opposed. 

About half, or 47%, said they would consider voting for a candidate outside their preferred party if that candidate backed the bill and their own party did not. Among crypto users, that number jumped to 72%.

“Passing the CLARITY Act is a bipartisan, winning issue,” Coinbase CEO Brian Armstrong said on X on Thursday. Robinhood CEO Vlad Tenev added: “There’s real momentum now to finally get CLARITY across the finish line. One more small push and we establish the legislative foundation to ensure American dominance in digital finance.”

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Source: HarrisX

The crypto industry has been waiting for the CLARITY Act to move through the US legislative process. It is expected to provide long-awaited regulatory clarity for crypto and could help the country become a major hub for crypto and digital finance.

The HarrisX poll also highlighted strong bipartisan support for the bill, with 55% of Democrats, 58% of Republicans and 42% of independents supporting it. Public support for the bill could also give senators a 20-point electoral advantage, it said

Related: Bitmine’s Tom Lee says ‘crypto spring’ has already begun

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Some predict the CLARITY Act will receive additional markups as soon as next week.

Speaking at the Consensus 2026 crypto industry conference in Miami on Wednesday, Coinbase’s vice president of US policy, Kara Calvert, said her “prediction is that we have a markup next week” from the Senate Banking Committee.

Calvert stressed that bipartisan support will get the bill across the line, saying it needs at least 60 votes to pass the Senate, but she is unsure how things will unfold in the coming days.

“That means you need Democrats. You need a bipartisan bill, and we have all been working really hard to make sure that bipartisanship holds. I think the big question is, how do these votes shape up over the next few days?”

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The timeline for a vote may still be months away, however. US Sen. Kirsten Gillibrand recently suggested additional markups are required before the bill can progress, predicting a Senate vote in August.

Magazine: Guide to the top and emerging global crypto hubs — Mid-2026 

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.

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Arbitrum approves $71 Million ETH release despite U.S. seizure fight

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Arbitrum approves $71 Million ETH release despite U.S. seizure fight

Arbitrum delegates approved the release of $71 million in ether frozen after last month’s Lazarus-linked rsETH exploit, setting up a direct clash between decentralized governance and an active U.S. court fight over who owns the funds.

The on-chain vote, which closed Friday afternoon Hong Kong time with more than 90% support, authorizes the release of 30,765 ETH frozen by Arbitrum’s Security Council after the April 18 exploit, when attackers used unbacked rsETH tokens as collateral on Aave to borrow roughly $230 million in ETH from the protocol.

The funds are earmarked for a coordinated industry recovery effort led by Aave, KelpDAO, LayerZero, EtherFi and Compound, aimed at making affected users whole.

But the frozen ether is also at the center of an escalating legal dispute in Manhattan federal court.

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Last week, attorney Charles Gerstein, representing families holding roughly $877 million in unpaid terrorism judgments against North Korea, served a restraining notice on Arbitrum DAO claiming the frozen ETH constitutes North Korean property because the exploit has been widely attributed to Pyongyang’s Lazarus Group.

That triggered an emergency legal fight.

Aave moved earlier this week to vacate the restraining notice, arguing the assets belong to innocent users, not North Korea, and warning that continued delays risk “cascading liquidations” and broader instability across decentralized finance markets.

Gerstein fired back Tuesday, arguing the exploit was not theft but fraud, meaning the attackers obtained legal title to the ETH by deceiving Aave’s lending markets with worthless collateral.

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Friday’s governance vote does not mean the funds move immediately.

Because the measure was structured as a Constitutional AIP under Arbitrum’s governance framework, the transfer cannot be executed for at least eight days, giving the Manhattan court time to intervene before any ETH moves.

Arbitrum delegates were also not voting blindly to the legal risk. The proposal included indemnification protections for the Arbitrum Foundation, Offchain Labs, Security Council members, and governance delegates against certain claims arising from either freezing or releasing the ETH, underscoring how unusual the stakes around the vote had already become.

Speaking at Consensus Miami this week, Aave Labs Chief Legal and Policy Officer Linda Jeng said the exploit had already forced the protocol to rethink its risk framework, expanding collateral standards beyond financial metrics to include cybersecurity, interoperability, and technical architecture reviews.

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Jeng, who worked as a regulator during the 2008 financial crisis, drew a contrast with traditional finance’s taxpayer-backed rescues.

“In the financial crisis, we had to bail out the banks,” she said. “Here, we came together as an ecosystem to bail ourselves out.”

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Zcash to add quantum-recoverable wallets within a month, go post-quantum by 2027

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Zcash to add quantum-recoverable wallets within a month, go post-quantum by 2027

Zcash will roll out quantum-recoverable wallets within a month and reach full post-quantum status within 12 to 18 months, Zcash Open Development Lab founder and CEO Josh Swihart told a Consensus Miami audience on Thursday in a session moderated by Solana infra firm Helius’s founder Mert Mumtaz.

A separate scaling track is targeting MasterCard- and Visa-scale throughput on a similar horizon.

The roadmap arrived during a ZEC rally that has lifted the token more than 110% over the past 30 days as prominent crypto fund Multicoin Capital disclosed a sizable ZEC investment and the privacy narrative caught on among investors, sentiment daata shows.

Swihart’s pitch was that Bitcoin no longer holds up as the cypherpunk-grade money it was meant to be. The asset works as an ETF wrapper and a store of value, he said, but as a peer-to-peer private payment system “it’s just fundamentally broken.”

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Visible balances on a transparent ledger let governments seize what they can see, he argued, the same wealth-visibility critique Multicoin’s Tushar Jain leaned on this week when disclosing the fund’s purchases.

The user-side traction is running through the Electric Coin Company’s mobile wallet after an October integration with Near Intents opened cross-chain swaps from assets like BTC, SOL and USDC directly into shielded ZEC.

Near Intents lets a user state what they want, like turning USDC into ZEC, while specialized routers handle the multi-step trade across different blockchains in the background.

Roughly $600 million to $700 million has flowed through that route since launch, mostly to and from USD and USDC, Swihart said. Near’s broader intent-based system has processed close to $800 million in volume over the past 30 days alone, per Near Protocol data, with Ethereum, Solana and Zcash dominating the chain side.

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A separate proposal to cut Zcash’s target block time from 75 seconds to 25 seconds is in active discussion on the project’s community forum, with bridges to Solana and Hyperliquid already live, Mumtaz noted.

Token-holder voting through Zashi is also slated, Swihart said, less as formal governance and more as an opinion layer feeding the project’s existing rough-consensus model.

For traders, the cleanest near-term test is whether quantum recoverability actually ships within Swihart’s stated month. The fail-safe is the shielded pool, which now sits at roughly 30% of circulating ZEC, an all-time high. If it keeps growing alongside price, the rally is being underwritten by adoption rather than speculation

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Why is the crypto market going down today? (May 8)

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Why is the crypto market going down today? (May 8)

The crypto market turned sharply lower on Friday, with total market capitalization falling nearly 3.8% to around $2.61 trillion as renewed military tensions between the United States and Iran triggered a broad risk-off move across global markets.

Summary

  • The crypto market fell nearly 4% on May 8 as renewed U.S.-Iran military tensions triggered a broad risk-off selloff across digital assets.
  • Bitcoin slipped below $77,000 while Ethereum dropped over 6%, with more than $344 million in long liquidations accelerating downside pressure.
  • Investor sentiment weakened as capital rotated into gold and U.S. equities, with the S&P 500 hitting fresh record highs amid a tech-led rally.

Bitcoin (BTC) dropped roughly 4.5% over the past 24 hours, slipping below the $77,000 mark before recovering slightly to trade near $77,400 at press time. Ethereum (ETH) fell more than 6% to around $1,980, while major altcoins such as Solana (SOL), XRP (XRP), BNB (BNB), and Dogecoin (DOGE) also recorded notable losses amid accelerating sell pressure.

Among the worst performers were high-beta altcoins and meme tokens, many of which posted double-digit intraday declines as traders rapidly reduced exposure to risk assets.

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The latest downturn triggered a large wave of long liquidations across crypto derivatives markets. More than $344 million in bullish positions were wiped out over the past 24 hours as falling prices forced leveraged traders out of their positions, further intensifying downside momentum.

Investor sentiment also deteriorated sharply. The Crypto Fear and Greed Index fell by 9 points to 38, returning to fear territory as geopolitical uncertainty and rising volatility pushed traders toward a more defensive stance.

Crypto prices tanked after tensions in the Middle East escalated again despite earlier ceasefire expectations between Washington and Tehran.

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Iran’s military accused U.S. forces of targeting an Iranian oil tanker near coastal waters and another vessel approaching the Strait of Hormuz, while also alleging U.S. air strikes on Bandar Khamir, Sirik, and Qeshm Island in southern Iran. Iranian air defenses were reportedly activated over western Tehran as local media described explosions and exchanges of fire near the Strait of Hormuz.

Meanwhile, U.S. Central Command said Iranian forces launched missiles, drones, and fast boats against American naval destroyers transiting the Strait of Hormuz. CENTCOM stated that U.S. forces eliminated inbound threats and struck Iranian military facilities tied to the attacks, including missile launch and surveillance infrastructure.

Despite the escalation, U.S. President Donald Trump insisted that the ceasefire agreement still remains in effect. He has described the strikes on Iranian targets as a “love tap” while warning Tehran that the United States would respond “a lot harder” if tensions continued.

The geopolitical flare-up pushed investors toward traditional safe-haven assets. Gold strengthened further during the session, while oil prices also moved higher on concerns that instability around the Strait of Hormuz could disrupt global energy supplies.

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At the same time, capital continued rotating into traditional equities. The S&P 500 climbed to fresh record highs above the 7,300 level, supported by a strong technology rally driven by upbeat AI-related earnings from companies such as AMD. The move drew additional capital away from crypto markets as investors favored large-cap equities over speculative digital assets.

Looking ahead, traders are expected to closely monitor further developments surrounding U.S.-Iran negotiations and any potential disruptions in the Strait of Hormuz, which remains one of the world’s most critical oil shipping routes.

Broader market focus also remains on upcoming U.S. macroeconomic data and Federal Reserve expectations, both of which continue to influence risk appetite across crypto and global financial markets.

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

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Another Pi Network Sell-the-News Moment as PI Plunges Hard Again?

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Despite the ongoing protocol updates and major high-profile appearances from the project’s co-founders at one of the most influential cryptocurrency conferences for the year, the native token experienced another painful rejection in the past 24 hours.

This behavior continues to raise questions about its overall state, as this is yet another classic sell-the-news moment.

PI’s Decline

Recall that the Pi Network protocol updates began in late February with the introduction of version 19.6. Since then, the new versions have been deployed almost like clockwork, and the latest was announced at the start of the month – v22. Moreover, the team set a deadline for the implementation of the next one in its roadmap – v23, which should be completed by May 15.

In addition, they continue to publish different posts about other aspects of the overall ecosystem, such as the completion of more than 520 million tasks from a million verified users by combining human input with AI.

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Perhaps even more notable was the feature of the two project co-founders, Dr. Chengdiao Fan and Nicolas Kokkalis, at the 2026 Consensus conference in Miami. As reported yesterday, Dr. Fan took the Convergence Stage to talk about how users can align web3, AI, and blockchain for utility. She also distinguished Pi Network from other cryptocurrency projects mainly in the token usage regard.

Yet, none of those developments has managed to produce a long-lasting positive impact on the native token. PI is deep in the red today, slumping to $0.166 minutes ago. This means that the asset has plunged by over 11% since its local peak at $0.188 marked on May 6.

Pi Network (PI) Price on CoinGecko
Pi Network (PI) Price on CoinGecko

Not the First Time

PI’s latest breakout attempt came ahead of the Miami conference, and the asset plunged immediately after both co-founders had completed their appearances. This appears to be a classic sell-the-news event for the asset, and is far from the first such occasion.

In March, massive hype built ahead of the so-called PiDay (March 14) and the major listing on Kraken. The token exploded as most of the market stagnated, going from $0.17 to $0.30 within just a few days. Once PI actually went live for trading on the veteran US exchange and PiDay passed, it plummeted instantly to its starting point, wiping out roughly $1 billion from its market cap.

The post Another Pi Network Sell-the-News Moment as PI Plunges Hard Again? appeared first on CryptoPotato.

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