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Venture capital firm a16z Crypto has explained the reasoning behind its $75 million investment in Circle's new Layer 1 blockchain, Arc, stating that the chain can meet the regulatory and technical demands of large institutions where existing blockchains fall short. According to a16z Crypto partners Ali Yahya and Noah Levine, while stablecoin annual transaction volume has grown to nearly $9 trillion—rivaling Visa and PayPal—the underlying infrastructure was designed for retail investors. They noted that with USDC circulation over $27 billion and most cross-chain liquidity handled by Circle's Cross-Chain Transfer Protocol (CCTP), Arc is positioned to fill this institutional gap. The firm believes a few blockchains will become the backbone of the global financial system and that Arc is likely to be one of them, citing Circle's hard-to-replicate advantages.

An anonymous whale address starting with 0x46D has withdrawn 7,240 ETH, worth $16.87 million, from Bybit and OKX over the past 20 minutes at an average price of $2,330, on-chain analyst ai_9684xtpa reported via X. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.

Ondo Finance (ONDO) announced it will support a bridge enabling the transfer of 35 stock tokens to Hyperliquid's (HYPE) HyperEVM, utilizing technology from LayerZero (ZRO). This move will allow 35 stock and ETF tokens from Ondo Finance to be traded on Hyperliquid. Ondo Finance's stock token platform, Ondo Global Markets, currently holds $970 million in Total Value Locked (TVL) and has recorded a cumulative trading volume of $18 billion.

Zcash (ZEC) mining is currently more than four times as profitable as Bitcoin (BTC) based on power efficiency, according to a recent analysis. The Zcash network hashrate has also doubled since September of last year.

The three major U.S. stock indices opened lower today. - S&P 500: -0.18% - Nasdaq: -0.41% - Dow Jones: -0.01%

Global cryptocurrency payments firm MoonPay has acquired AI trading startup Dawn Labs and launched an AI-powered trading tool called "Dawn CLI," according to Decrypt. The tool allows users to input strategies in natural language, which an AI then automatically converts into executable trading code. The initial platform supported is the prediction market Polymarket. MoonPay explained that the tool simplifies system trading—which previously required a combination of development, quantitative analysis, and portfolio management skills—into a single interface. The company added that it plans to manage risks associated with AI malfunctions and excessive trading by implementing a non-custodial wallet structure and trade limit policies.

Binance announced it has blocked over 22.9 million AI-based fraud and phishing attacks, preventing an estimated $10.53 billion in potential damages, according to its latest security report. The exchange currently utilizes more than 24 AI security systems and over 100 AI models, which helped protect the assets of approximately 5.4 million users in the first quarter of this year. Additionally, Binance reported sending an average of more than 9,600 real-time risk alerts daily and has blacklisted over 36,000 malicious addresses. Binance noted a rapid increase in cryptocurrency scams that use AI deepfakes, voice cloning, and phishing bots, explaining that crypto-related fraud amounted to approximately $17 billion in 2025, a roughly 30% increase from the previous year.

Bitmine (BMNR), led by Tom Lee, announced it has recently slowed its pace of ETH purchases. The company acquired approximately 26,659 ETH, valued at around $63 million, last week—a figure roughly one-fourth of its recent weekly average of 100,000 ETH. The company's total ETH holdings now stand at approximately 5.2 million, accounting for about 4.31% of the total circulating supply. Bitmine Chairman Tom Lee explained that the company decided to adjust its weekly purchase pace as it nears its goal of securing 5% of the total ETH supply. Bitmine added that it has purchased over one million ETH so far this year and is currently staking more than 4.7 million ETH, representing about 90% of its total holdings.

Strategy (MSTR) is holding an unrealized profit of approximately $4.54 billion on its Bitcoin holdings, while Bitmine (BMNR) has an unrealized loss of about $6.297 billion on its Ethereum position, according to EmberCN. Strategy holds 818,869 BTC at an average purchase price of $75,540, while Bitmine holds 5,206,790 ETH, acquired at an average price of $3,539.

C1 Fund, a digital asset investment firm listed on the New York Stock Exchange, announced in its 2025 annual results that it has invested in major cryptocurrency companies including Ripple, Kraken, and Consensys. According to the filing, the fund's net asset value (NAV) was approximately $52.05 million as of the end of last year. Its invested assets totaled around $30.48 million, accounting for about 58.4% of its total net assets. The firm also stated that it has signed seven follow-on private investment deals in the months since its IPO and is continuing to increase its allocation to digital asset infrastructure companies.

Bitmine (BMNR) announced it purchased an additional 26,659 ETH last week. This brings its total holdings to 5,206,790 ETH as of May 10, representing 4.31% of the total ETH supply. Additionally, the company is staking 4,712,917 ETH, which accounts for approximately 90% of its holdings.

Circle (CRCL) has announced the launch of its Circle Agent Stack, a solution designed to support the autonomous economic activities of AI agents. The stack includes dedicated wallets, micropayment services, and a marketplace, providing a machine economy-focused infrastructure that enables AI agents to directly manage and transact assets.

Sharplink Gaming (SBET), a firm known for accumulating Ethereum, announced that it held 872,984 ETH as of the first quarter of this year. The company emphasized that despite incurring a net loss of $685.6 million from the decline in ETH's price, its holdings have not changed. Sharplink previously announced it would establish a $125 million DeFi fund with Galaxy (GLXY).

Galaxy, founded by Mike Novogratz, and Ethereum treasury firm Sharplink have announced plans to launch a $125 million decentralized finance (DeFi) yield fund. The fund, named the Galaxy Sharplink Onchain Yield Fund, will be seeded with $100 million from Sharplink's ETH treasury and $25 million from Galaxy, with Galaxy serving as the sole manager. Sharplink, which currently manages an ETH treasury of approximately $2.1 billion, explained that it plans to expand beyond its existing staking strategy into more active DeFi yield strategies such as lending and liquidity provision. Sharplink CEO Joseph Chalom said the goal is to make the company's ETH productive beyond simply holding it, adding that they will focus investments on DeFi protocols that meet institutional-grade security standards.

Whale Alert reported that 1,000 million USDT has been minted at the Tether Treasury.

Ronin (RON) will conduct a hard fork on May 12 to transition into an Ethereum Layer 2 network, CoinDesk reported. The move aims to enhance security and improve tokenomics and scalability following a major bridge hack in 2022. Ronin stated that adopting the OP Stack will allow it to leverage Ethereum's security and transaction throughput. Following the hard fork, the network will also implement a new staking reward model based on contributions.

Smartphone and cryptocurrency projects bearing U.S. President Donald Trump's name are causing tens of millions of dollars in losses for investors due to product delivery failures and sharp price declines, CoinDesk reported. The Trump Mobile T1, announced 16 months ago, secured $60 million in deposits from 600,000 pre-orders at $100 each. However, not a single device has been confirmed as delivered. Trump Mobile has reportedly amended its terms and conditions to state that it does not guarantee refunds or device delivery. Additionally, the meme coin TRUMP has plummeted by approximately 97% from its all-time high, with estimated losses for retail investors reaching $2 billion.

MicroStrategy (MSTR) announced it has acquired 535 BTC at an average price of $80,340. The company now holds a total of 818,869 BTC, purchased at an average price of $75,540.

Nasdaq-listed payments company Corpay (Nasdaq: CPAY) has announced a partnership with stablecoin infrastructure startup BVNK to introduce stablecoin wallet and payment features. According to The Block, the collaboration will allow Corpay's customers to store, convert, and send stablecoins within its platform, with stablecoin balances displayed alongside fiat currency balances. Corpay currently serves over 800,000 corporate clients and processes $12 billion in business payments per month.

The launch of a prediction market-based ETF, scheduled for today, has been postponed. According to Bloomberg ETF analyst Eric Balchunas, the U.S. Securities and Exchange Commission (SEC) is conducting an additional review of the product's structure and disclosures. He explained that this is likely a matter of reconfirming details rather than a critical issue. Balchunas added that because this is a new type of ETF with little precedent, authorities appear to be taking a more cautious approach, as its launch could set a regulatory precedent.

An address (starting with 0x4aFe) linked to crypto financial services firm BIT, formerly Matrixport, has sold an additional 103,678 HYPE, Onchain Lens reported. This brings its cumulative sales to 303,678 HYPE ($12.79 million) at an average price of $42.15. The address still holds 99,612 HYPE, worth approximately $4.14 million.

Prominent Bitcoin critic Peter Schiff, CEO of Euro Pacific Capital, argued that Bitcoin is a new form of decentralized Ponzi scheme during a discussion related to Strategy (MSTR). He explained that because BTC generates no profits or dividends, existing investors can only realize gains if new investors buy in at higher prices. Schiff further criticized Strategy's corporate preferred stock product, STRC, describing it as a typical centralized Ponzi scheme operated by the company. Previously, Strategy founder Michael Saylor had countered Schiff's allegations, stating that the CEO has never liked Bitcoin or the industry.

According to Onchain Lens, a Hyperliquid whale with the address 0x7f5 has opened a 151,057 BRENTOIL long position with 1x leverage. The position is valued at approximately $15.4 million.

Ripple's institutional prime brokerage platform, Ripple Prime, has secured a $200 million loan commitment from U.S. asset manager Neuberger Berman to expand its margin trading services for both traditional and crypto assets, Bloomberg reported. The agreement will allow Ripple Prime's institutional clients to access up to $200 million to build positions in stocks, bonds, and cryptocurrencies.

Osmosis (OSMO) surged over 200% in the past 24 hours, at one point reaching $0.128, BlockBeats reported. The token is currently trading at around $0.105. According to CoinGecko data, OSMO's global 24-hour spot trading volume reached $175 million, with the South Korean exchange Bithumb accounting for the largest share at approximately 30% ($55.8 million). Binance's share was 22.4%. In contrast, data from DeFiLlama shows that OSMO's trading volume on decentralized exchanges was only $1.24 million. On-chain fundamentals such as total value locked (TVL), stablecoin market capitalization, and fund inflows have reportedly shown no significant changes.