Category: crypto

Pi Network is emphasizing the importance of aligning token design with real product use as the price of PI remains near $0.153. Founder Chengdiao Fan discussed the gap between token design and product innovation, focusing on utility and user engagement. The market still shows weak momentum for PI despite recent upgrades.

Polymarket has appointed a Japanese representative as it aims to secure regulatory approval in Japan by 2030. The platform remains restricted in various countries due to gambling and financial compliance concerns. Expansion efforts in Japan come as regulators crack down on prediction markets in India, Argentina, and parts of the U.S.

Ethereum’s market sentiment has weakened in May due to price pressure, ETF outflows, Foundation exits, and slower network growth. Santiment reports a decrease in market cap, with ETH at risk of falling below $2,000. JPMorgan notes the need for stronger network activity. ETF outflows and Foundation exits contribute to trader doubts.

Trump Media & Technology Group transferred 2,650 Bitcoin worth $205 million to Crypto.com, raising concerns about their crypto treasury strategy. The company’s holdings are underwater, with a reported loss of $405.9 million, mostly from unrealized crypto asset markdowns. The transfer was detected by Lookonchain, but the impact on the market is uncertain.

The Verus Ethereum bridge exploiter returned 4,052 ETH, worth $8.5 million, to the project team, keeping 1,350 ETH as a bounty. This represents 75% of the stolen funds. The exploit was linked to missing validation checks in cross-chain transfer logic. The return followed a settlement offer by Verus.

Polymarket’s UMA CTF Adapter contract on Polygon was targeted in a suspected exploit, with losses above $520,000 reported. Onchain analysts warned users to pause activity. Security reports suggest a private key compromise, not affecting user funds or market resolution. The incident raises questions about Polymarket’s security and market integrity amidst regulatory scrutiny.

F2Pool co-founder Chun Wang plans to join SpaceX’s two-year Starship mission for a Mars flyby. Wang previously led Fram2, the first human spaceflight over Earth’s polar regions. F2Pool holds a 10% Bitcoin mining market share. SpaceX has not announced a launch date for the mission to go beyond the Earth-Moon system and past Mars.

Bitget has launched SPCXUSDT, a SpaceX-linked pre-IPO perpetual contract that allows traders to speculate on market expectations before SpaceX goes public. The contract is settled in USDT, offers 5x leverage, and operates 24/7. Other crypto exchanges have also introduced similar derivatives tied to SpaceX’s anticipated IPO.

Bitcoin Pizza Day celebrates the first real-world Bitcoin transaction in 2010, where Laszlo Hanyecz paid 10,000 BTC for two pizzas. The current value of the transaction would be over $772 million. This event marked a milestone in Bitcoin’s history, showcasing its potential for real-world economic utility beyond online transfers.

Intercontinental Exchange and OKX are partnering to introduce perpetual oil futures on the crypto exchange’s derivatives platform, using ICE Brent and WTI benchmarks. ICE will provide regulated futures prices for Brent crude and West Texas Intermediate, while OKX will handle the perpetual structure, crypto margin, and user distribution. The initiative aims to blur the lines…