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Upbit announced that it will temporarily suspend deposits and withdrawals for Babylon (BABY) starting at 11:00 a.m. UTC today due to a network upgrade.

South Korea's virtual asset industry is pushing back against a revised enforcement decree of the Act on Reporting and Using Specified Financial Transaction Information, set to take effect in August, Maeil Business Newspaper reported. Industry leaders are concerned that excessive regulations, particularly a mandate for Suspicious Transaction Reporting (STR) on all transactions of 10 million won or more without exception, could paralyze the domestic market. According to a simulation by the Digital Asset eXchange Alliance (DAXA), the new rule is projected to cause the annual number of STRs from the five major won-denominated exchanges to surge by approximately 85 times, from 63,408 to 5,445,133. A DAXA official warned that this would effectively paralyze the country's normal Anti-Money Laundering (AML) monitoring systems.

Binance announced it will delist the AVA/BTC, BCH/BNB, CFX/BTC, ENA/BTC, HBAR/FDUSD, LA/BNB, MAGIC/BTC, OP/BTC, PUNDIX/USDC, STEEM/ETH, WIN/TRX, and XPL/FDUSD spot trading pairs at 3:00 a.m. UTC on May 8.

Bybit has announced the delisting of DGB, HOOK, SLP, RDNT, GAME, PORTALS, and USDD, effective at 8:00 a.m. UTC on May 12.

Binance's Secure Asset Fund for Users (SAFU) has successfully bought the dip in BTC and is now holding an unrealized profit of approximately $200 million, BlockBeats reported. The fund previously acquired 15,000 BTC, valued at $1 billion, in February.

South Korea's cryptocurrency industry has asked financial authorities to reconsider a plan to expand the Travel Rule to cover transfers under 1 million won, The Herald Business reported. The rule currently requires sender information only for transfers of 1 million won or more. Industry representatives argue that extending this requirement to smaller amounts could lead to deposit screening delays due to the need for user information verification. They claim these delays could cause financial losses from price volatility and potentially infringe on property rights. South Korea's Financial Services Commission announced the proposed amendment to a financial transaction reporting law in March and is collecting industry opinions until May 11.

An analysis suggests that Bitcoin has successfully shed its label as a risk asset sensitive to interest rates and transitioned into an inflation hedge. According to CoinDesk, while high inflation previously led to interest rate hikes that suppressed Bitcoin's price, rising inflation now drives capital into Bitcoin amid concerns over the declining value of fiat currencies. The outlet argues that Bitcoin has moved out of the Nasdaq's shadow and is beginning to follow the early growth model of gold.

Grayscale has stated that while high-performance quantum computers could pose a long-term threat to traditional cryptography, they are not the primary cause of the recent decline in Bitcoin's price. The firm added that it supports all major blockchains in accelerating their quantum resistance upgrades. As evidence, Grayscale noted that Bitcoin recently fell in tandem with quantum computing-related stocks. The firm's analysis suggests the fundamental cause is investors taking profits and avoiding risk across the advanced technology sector, which had become overheated following the AI boom.

The odds of the CLARITY Act passing this year have climbed to 70% on the prediction market Polymarket.

Aftermath Finance, a Sui-based decentralized exchange that temporarily suspended operations due to the Boyan vulnerability, has launched a compensation claim page for affected users, Foresight News reported.

SmarterWebCompany, a firm listed on the London Stock Exchange, announced the purchase of an additional 27 BTC, bringing its total holdings to 2,805 BTC.

Italy's central bank has officially proposed that the European Union evolve its existing euro payment infrastructure, the Single Euro Payments Area (SEPA), into a tokenized version, according to Solid Intel.

Major U.S. financial interest groups, including the American Bankers Association (ABA), have once again voiced opposition to the CLARITY Act, arguing that interest-like returns offered by stablecoins could trigger a massive outflow of bank deposits, Cointelegraph reported. The banking sector claims a legal loophole remains that would allow stablecoin platforms to indirectly provide returns to users. They warn that if left unaddressed, this could cause one-fifth of lending to the real economy to disappear. However, Senator Tom Tillis, a key proponent of the bill, has directly refuted these claims, describing the legislation as a reasonable compromise for innovation.

Tydro, a lending protocol in the Ink ecosystem, announced that it has temporarily suspended all market operations due to a third-party oracle issue.

Ethereal Ventures, a crypto venture capital firm backed by Ethereum co-founder Joseph Lubin, has officially announced that its fund manages $150 million, breaking its silence after about five years since its founding. The firm was an early investor in over 80 projects, including EigenLayer, and its second fund has yet to deploy 25% of its assets.

Polygon has launched a private stablecoin payment feature that uses zero-knowledge proof technology to conceal the sender, receiver, and transaction amount from external parties, Cointelegraph reported. The solution addresses a key hesitation for businesses considering on-chain operations: the inherent transparency of blockchain, which broadcasts fund flows to competitors and the market in real time. Polygon's new feature provides selective transparency, allowing companies to hide transaction details from the public while still being able to submit audit files to regulatory authorities.

Ripple is building a joint industry defense network to counter North Korea's evolving attack methods, which have shifted from code hacking to disguised employment, BeInCrypto reported. The company has begun exclusively providing the non-profit security organization Crypto ISAC with a blacklist of suspected North Korean cyber agents. The shared data includes detailed personal information like LinkedIn profiles, email addresses, and phone numbers, enabling the industry to block hackers in real time who are rejected by one firm and then attempt to apply to another.

South Korean crypto exchange Upbit announced that it will temporarily suspend deposits and withdrawals for Zilliqa (ZIL) due to a hard fork.

On Polymarket, the probability of Bitcoin surpassing $90,000 this year is currently 70%, while the chance of it falling below $55,000 is 46%.

Russia's Moscow Exchange plans to launch four new cryptocurrency indices tracking SOL, XRP, TRX, and BNB starting May 13, according to Wu Blockchain. These indices will utilize price data from Binance (50%), Bybit (20%), OKX (15%), and Bitget (15%). Additionally, the exchange's existing indices, MOEXBTC and MOEXETH, will be updated every 15 seconds during trading hours. The exchange plans to expand its crypto benchmark indices to 10 in the future, with related products to be offered exclusively to professional investors.

Well-known trader Eugene Ng Ah Sio believes that Bitcoin reclaiming and holding the $80,000 level would be a crucial signal of a market reversal. He identified a recovery to $80,000 as the first sign of breaking the long bear market that has persisted since September 2025. Reflecting on the recent market, he described it as a painful period with high opportunity costs, as cryptocurrencies have been less attractive than the stock market. However, he predicted that if Bitcoin can establish a foothold above the psychological and technical resistance at $80,000, speculative capital that had left the market would flood back in, kicking off a full-fledged rally. He emphasized that the unique nature of the crypto market should be considered, where price increases often precede and create new positive narratives, rather than good news driving prices higher.

Ethena has opened applications for its fifth airdrop season, which will distribute 2% of the total ENA supply, according to Foresight News.

According to CoinNess market monitoring, BTC has risen above $81,000. BTC is trading at $81,000 on the Binance USDT market.

An investigation into the Polish cryptocurrency exchange Zondacrypto over alleged investor losses has escalated into a political conflict, Politico reported. Prosecutors are examining whether the exchange misled customers, potentially causing losses of around 350 million zloty ($96.1 million). Zondacrypto CEO Przemysław Kral has denied the allegations, stating that the company is operating normally. The case has become a point of contention between Polish Prime Minister Tusk and President Nawrocki. The government is pushing to implement Europe's Markets in Crypto-Assets (MiCA) regulation, while the president's camp opposes stricter rules. Prime Minister Tusk has highlighted the need for regulation by suggesting the exchange could have ties to Russian funds, a claim the opposition has dismissed as a political attack. As investor lawsuits mount, some politicians are now calling for an outright ban on cryptocurrencies.

Despite Bitcoin's recovery to $80,000, perpetual futures funding rates on major centralized (CEX) and decentralized (DEX) exchanges have turned negative, BlockBeats reported, citing data from Coinglass. Funding rates are a mechanism in perpetual futures contracts designed to align their price with the spot market, adjusted through payments between long and short position holders. A rate above 0.01% is typically considered a bullish signal, while a rate below 0.005% is seen as bearish. The current funding rate has fallen below 0.005%, suggesting that bearish sentiment is prevailing among investors.