Crypto Industry News & Market Trends

Crypto thief gets 78 months as $250M wallet ring collapses

A federal court in Washington, D.C., sentenced Marlon Ferro, 20, of Santa Ana, California, to 78 months in prison over his role in a social engineering group that stole well over $250 million in crypto from U.S. victims. Ferro received 78 months after prosecutors linked him to burglaries targeting high-value crypto hardware wallets.The ring stole over $250 million through fake calls, database hacks, laundering, and residential break-ins.FBI data shows crypto fraud losses topped $11 billion as global enforcement actions keep widening.　　The Justice Department said the court also ordered three years of supervised release and $2.5 million in restitution.　　Ferro, also known as “GothFerrari,” pleaded guilty on Oct. 17, 2025, to one count of conspiracy to participate in a Racketeer Influenced and Corrupt Organization. U.S. Attorney Jeanine Ferris Pirro said Ferro acted as the groups “instrument of last resort,” a phrase that described his alleged role when online tricks failed.　　Online fraud turned into home break-ins　　Prosecutors said the group used several roles to find and steal from crypto holders. Those roles included database hacking, target selection, fake calls, laundering, and burglary. The group operated from late 2023 to early 2025 and had members in California, Connecticut, New York, Florida, and abroad.　　Court records said

05-07Industry

White House targets July 4 for Clarity Act passage, says crypto adviser Patrick Witt

The White House is aiming for July 4 for Congress to pass the Digital Asset Market Clarity Act, Patrick Witt, executive director of the President‘s Council of Advisors for Digital Assets, told CoinDesk’s Consensus Miami conference on Wednesday.　　“Were targeting July 4th. I think that would be a tremendous birthday present for America, celebrating our 250th,” Witt said. The mechanics, according to Witt, are: Senate Banking Committee markup this month, four working Senate weeks in June for floor passage and enough runway for a U.S. House of Representatives vote before the Independence Day deadline.　　That timeline runs ahead of the prediction Sen. Kirsten Gillibrand shared on the same stage earlier in the day, when the New York Democrat predicted Clarity would reach the presidents desk by the first week of August.　　“Theres not a lot of slack left in the rope right now,” Witt said. “But it is an achievable timeline.”　　The path to markup opened when Sen. Thom Tillis (R-NC) and Sen. Angela Alsobrooks (D-MD) released a compromise on the bills stablecoin-yield provisions in early May, banning bank-deposit-equivalent yield on stablecoins while leaving room for rewards tied to spending. Witt said the White House convened banks and crypto firms to fashion the language,

05-07Industry

Stablecoin Industry Opposes Bank of England’s Unhosted Wallet Ban

Tech　　Stablecoin Industry Opposes Bank of Englands Unhosted Wallet Ban　　As the UK considers options to attract and develop the crypto industry at home, the Bank of England (BOE) has put forward several proposals for how it might regulate stablecoins to mitigate perceived financial risks.　　These have included a ban on custodial wallets for stablecoin holdings. The UK crypto industry, from stablecoin issuers to Bitcoin hardliners, has predictably taken issue with the ban.　　“This would be a serious misstep for the UK, risking long-term damage that is hard to unwind,” said Benoit Marzouk, CEO of stablecoin issuer tGBP told Cointelegraph.　　Ban could hamper operability and competitiveness　　At the heart of the BOEs approach to stablecoins, which it recently discussed in a series of inquiries before the House of Lords, is protecting the UK banking system.　　The bank argues that unhindered access to stablecoins, which can offer higher yields than traditional banking products, could lead to a run on deposits, and therefore on credit availability from UK banks.　　In March, Bank of England Deputy Governor Sarah Breeden the House of Lords Financial Services Regulation Committee that BOE is “open to other ways of achieving the objective” of credit availability.　　“But I think you would expect us as the financial stability

05-07Industry

Toncoin doubles on growing Make TON Great Again momentum

Tech　　Toncoin doubles on growing Make TON Great Again momentum　　Toncoin (TON) extended its rally overnight as markets braced for the second half of Pavel Durovs seven-step Make TON Great Again (MTONGA) roadmap.　　The token rose from roughly $1.37 to $2.8 at press time, more than doubling in value shortly after Durov said Telegram had become TONs largest validator.　　Source: CoinGecko　　Toncoins rally has pushed it into the top 20 crypto assets by market capitalization, where it now ranks 19th. It has overtaken Chainlink and Canton as its market value climbs to around $7.5 billion, narrowing the gap with Monero.　　Source: CoinGecko　　The layer 1 crypto asset has also led in gains over the past 24 hours, followed by Venice Token, Near Protocol, and MemeCore.　　Telegram brings TON back home　　Telegram is bringing TON, originally known as the Telegram Open Network, back home. Durov said the company would replace the TON Foundation as the primary steward of the network.　　The project was developed by the Durov brothers in 2018 but regulatory issues forced Telegram to stop working on it. TON, then known as The Open Network, later continued under an independent community and the TON Foundation.　　The TON Foundation has driven a number of key initiatives to expand the networks ecosystem.

05-07Industry

Grayscale Cuts a DeFi Token From Its Fund as a New One Takes Over

Grayscale Investments has disclosed the new component weightings for its multi-asset funds as part of the Q1 2026 rebalancing.　　The asset manager has removed Aerodrome Finance (AERO) entirely from its Decentralized Finance (DeFi) Fund and added Ethena (ENA) at a 13.59% weight.　　Grayscale Drops AERO From DeFi Fund, Adds ENA in Q1 Rebalance　　According to the press release, Grayscale funded the ENA purchase by selling AERO and other existing components proportionally.　　AERO held a 5.36% weight before its full removal, ending its position in Grayscales flagship DeFi product. The altcoin was added during the Q3 2025 rebalancing and replaced MakerDAO (MKR).　　“The compositions of DEFG Fund and GSC Fund are evaluated on a quarterly basis to remove existing Fund Components or to include new Fund Components, in accordance with the index methodologies established by the Index Provider. Holdings and weightings of each Fund are subject to change. Investors cannot directly invest in an index,” the asset manager stated.　　Every quarter, we rebalance and update the components of our multi-asset funds:　　• Grayscale Decentralized Finance (DeFi) Fund　　• Grayscale Smart Contract Fund　　Read on for our Q3 updates ????⬇️ pic.twitter.com/FwusoOinpQ　　— Grayscale (@Grayscale) May 6, 2026　　Meanwhile, Ondo (ONDO) recorded the biggest gain among retained holdings, climbing from 14.10% to 19.83%. Uniswaps

05-07Industry

LINK Price Prediction: $14.40 Target Emerges as ETF Momentum Accelerates

The Immediate Setup　　Chainlink is displaying textbook breakout behavior at $9.92, sitting comfortably above its entire moving average stack for the first time in months. The 3.55% daily surge pushed LINK through the $9.77 upper Bollinger Band, signaling institutional money positioning ahead of the Bitwise Spot Chainlink ETF approval. With RSI at 65.33 – positioned in the bullish zone without being overbought – and both retail (64.5% long) and smart money (69.3% long) aligned, the setup points toward continuation rather than reversal.　　The derivatives market tells an even stronger story. Despite a 4.83% drop in open interest, the aggressive buying pressure (1.2019 buy/sell ratio) indicates fresh capital entering rather than short covering. When Blockchain.news analyzed similar ETF-driven momentum in other major cryptos, the pattern typically lasted 2-4 weeks before meaningful corrections.　　Key Levels Exposed　　The technical architecture favors bulls right now. LINK has decisively reclaimed the $9.34 SMA-20 as support, with the entire short-term moving average cluster ($9.36 SMA-7, $9.40 EMA-12, $9.29 EMA-26) acting as a launching pad. The immediate resistance at $10.06 looks fragile given the momentum, but the real battle will be at $10.19 strong resistance.　　The 200-day moving average at $11.57 represents the final technical hurdle before higher targets become accessible. The

05-07Industry

ETH Price Prediction: $2,500 Target Within 14 Days as Bullish Divergence Emerges

ETHs Technical Reality Check　　Ethereum‘s current positioning screams controlled accumulation. Trading at $2,370 with an RSI hovering at 58.67, we’re seeing textbook neutral momentum thats primed for directional commitment. The MACD histogram flatlined at zero reveals the exact moment where momentum shifts occur – and with price sitting 77% up the Bollinger Band range, buyers are clearly testing upper boundaries without panic buying.　　What‘s particularly telling is ETH’s relationship with its moving averages. Price trades nearly 7% above the 200-day SMA at $2,695, yet maintains disciplined distance from the 20-day at $2,324. This spread indicates institutional-grade positioning rather than retail FOMO. The $67 daily ATR confirms volatility remains elevated enough for significant moves, but contained enough to prevent washout scenarios.　　According to data tracked by Blockchain.news, this technical alignment often precedes sustained upward momentum when combined with favorable derivatives positioning.　　Volume & Price Alignment　　The derivatives market tells a compelling story that contradicts surface-level bearish sentiment. With $632 million in spot volume and $4.87 billion in open interest, institutional participation remains robust. The -0.0020% funding rate signals neither excessive bullishness nor bearish capitulation – exactly where smart money likes to operate.　　The most revealing metric？ Top traders maintain a 54.2% long bias while retail crowds into

05-07Ethereum

Ethereum’s slowdown raises broader concerns for the crypto market

Decentralized exchange volume on Ethereum has dropped about 53% over the past six months. DApp revenue has fallen about 49%. Solana and Hyperliquid combined now account for roughly 42% of DApp revenue market share, even though Ethereums total value locked (TVL) remains six times larger than its nearest competitor.　　The cooling memecoin market and a decline in new token issuance have pulled trading activity from Ethereum-based decentralized exchanges, while cheaper rival blockchains have absorbed the rest.　　Hacks and competition both ate into trader sentiment　　Crypto-related exploit losses hit roughly $630 million in April alone. KelpDAO and Drift Protocol accounted for more than 80% of that figure. Cybersecurity firm Hacken tied the attacks to North Korea-linked actors.　　As Cryptopolitan reported in late April, the KelpDAO exploit alone triggered $13 billion in Aave TVL outflows within days, with bad debt at the lending protocol estimated at $177 million before recovery efforts began.　　The hack-driven erosion of trust compounded the structural shift.　　Solana and Hyperliquid have not just attracted speculative volume. They have been steadily winning DApp revenue share that historically sat with Ethereum, particularly in derivatives and high-frequency trading workflows, where lower fees and faster confirmation matter more than pure decentralization.　　BitMines $1.4 billion paper loss tests the ETH

05-07Ethereum

Ondo, JPMorgan, Mastercard and Ripple complete tokenized Treasury pilot on XRP Ledger

Tech　　Ondo, JPMorgan, Mastercard and Ripple complete tokenized Treasury pilot on XRP Ledger　　Ondo Finance, Kinexys by J.P. Morgan, Mastercard and Ripple completed a pilot transaction linking tokenized US Treasuries on the XRP Ledger with interbank settlement infrastructure.　　Ondo, Kinexys by @jpmorgan, @Mastercard, & @Ripple successfully completed a landmark pilot transaction connecting the XRP ledger with interbank settlement rails.　　This milestone marks the first time tokenized U.S. Treasuries have settled across borders and banks in near real time… pic.twitter.com/BUjvWwHBGg　　— Ondo Finance (@OndoFinance) May 6, 2026　　The transaction involved Ripple redeeming a portion of its Ondo Short Term US Government Treasuries holdings on XRPL.　　Ondo processed the redemption and sent the fiat payout instruction through Mastercard‘s Multi Token Network, which routed it to Kinexys by J.P. Morgan. Kinexys debited Ondo’s blockchain deposit account and delivered USD proceeds to Ripple‘s bank account in Singapore through J.P. Morgan’s correspondent banking network.　　The companies said the pilot marked the first near real time, cross border and cross bank redemption of a tokenized US Treasury fund outside traditional banking windows.　　The transaction shows how tokenized assets can interact with public blockchain rails and traditional bank settlement systems in a single flow, instead of relying on separate wire transfers and manual redemption processes.　　Kinexys is

05-07Industry

NYSE tokenization partners warn synthetic stock tokens could mislead retail traders

Executives from Intercontinental Exchange (ICE), OKX and Securitize warned that synthetic tokenized stocks are creating market and retail risks, as ICE moves ahead with a regulated platform for tokenized U.S. equities.　　Michael Blaugrund, who works on strategic initiatives at ICE, the owner of the New York Stock Exchange (NYSE), said during a panel at Consensus Miami that NYSEs first version will start with pre-funded tokenized equities trading against stablecoins.　　That model is “not the sexiest way” to build a market, Blaugrund said, but gives issuers, investors and regulators a structure they can evaluate before more complex features such as leverage or self-custody.　　Carlos Domingo, founder and CEO of Securitize, said offshore tokenized stock products are taking the opposite approach. Some use public-company names without issuer approval and do not represent the underlying equity, he said.　　“For some stocks theres like five different tokenized versions,” Domingo said, citing Coinbase as an example. “None of them actually represent equity on Coinbase.”　　The risk is clearest during corporate actions, Domingo said, as he saw one tokenized stock wrapper trade at prices that differed by five times across markets after a stock split.　　Haider Rafique, OKXs global managing partner officer, noted the exchange has not launched synthetic tokenized securities and

05-07Industry

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