Crypto Industry News & Market Trends

Understanding SkyAI’s 30% price correction and the next steps for traders

Tech　　Understanding SkyAIs 30% price correction and the next steps for traders　　SkyAI [SKYAI] shed 4.5% of its value in the last 24 hours after a stellar rally in recent weeks. In fact, the token was up 61% for the week, and around 780% over the past month. It has been trending higher since February, with its remarkable rally accelerating in April.　　After hitting an all-time high of $0.8569 on Wednesday, 06 May, SKYAI fell by around 30%. It was accompanied by a slowdown in speculative interest.　　Evidence for a bearish SKYAI move in the coming days　　AMBCrypto had previously reported that Binance traders were positioning themselves bearishly in the perpetual futures market.　　Momentum was also getting strained, the report read, and within hours, the token saw a pullback from its all-time highs.　　Source: Coinalyze　　Coinalyze data revealed a fall in Open Interest in the last 48 hours, with the funding rate also dropping towards zero. Both signs pointed towards weakness too.　　The falling OI hinted at increasingly sidelined speculators, with the falling funding rate showing that more and more participants were closing long positions and staying neutral – Sign that the long side was no longer overcrowded.　　The volatility reset and unwinding market resulted in the recent correction. The

05-09Industry

SEC chair Paul Atkins signals rule changes for onchain markets and AI-driven finance

SEC Chair Paul Atkins said Friday the agency is considering changes to how securities regulations apply to blockchain-based financial markets and AI-powered financial applications, as digital asset firms increasingly move trading and settlement activity onchain.　　Speaking at the AI+ Expo in Washington, Atkins said the SEC is considering formal rulemaking around onchain trading systems, blockchain settlement infrastructure, automated financial applications and crypto vaults that increasingly blur the lines between traditional players.　　Existing securities rules were designed around traditional market intermediaries such as brokers, exchanges and clearinghouses, he argued, while newer blockchain systems often combine those functions into a single software protocol. Atkins predecessor, Gary Gensler, had held a similar view, though he focused more on centralized exchanges that the SEC argued provided those different functions under one roof at the time, mostly through lawsuits.　　“A single protocol can execute a trade, manage collateral, route liquidity, execute trading strategies through vault structures and settle the transaction,” Atkins said.　　“We should remember that onchain market structures today are often hybrid in nature, combining elements of what are often referred to as ‘traditional’ and ‘decentralized’ finance,” he said. “We should clarify how the Commission views the spectrum of models that may implicate our statutes through notice and

05-09Industry

Ethereum Faces Whale Pressure as Binance Deposits Hit $178 M

Ethereum　　Ethereum Faces Whale Pressure as Binance Deposits Hit $178 M　　Bitcoin Ethereum NewsOnchain Lens said that Garrett Jin deposited 78,077 ETH, worth about $177.92 million, into Binance.Crypto Rover called the latest Binance deposit bearish and cited the prior ETH drop.Lookonchain said a whale linked to Erik Voorhees bought 2,920 ETH for $6.67 million.　　Ethereum whale activity has intensified as ETH continues to struggle against Bitcoin, bringing fresh attention to large exchange deposits and private-wallet accumulation. On-chain data shared on X showed one OG whale sending 78,077 ETH, worth about $177.92 million, into Binance.　　The transfer added to a broader three-day flow from the same whale, while separate data showed another large wallet buying more ETH near $2,284. Meanwhile, traders are watching whether exchange inflows create near-term volatility as Ethereum tries to regain strength against BTC.　　OG Whale Sends ETH to Binance　　Onchain Lens reported that Garrett Jin, also known as the “Bitcoin OG 10/11,” deposited 78,077 ETH, worth $177.92 million, into Binance. The Arkham data showed the transfer landing in a Binance deposit wallet marked 0x326.　　Analyst Ai also tracked the same wallet and said the whale deposited another 78,076.87 ETH into Binance, worth about $178 million. According to that post, the wallet had already moved

05-09Ethereum

Google Chrome secretly installs 4GB AI model

Google Chrome has been silently installing a 4GB AI model called Gemini Nano on users devices without consent, a researcher found.Researcher Alexander Hanff documented Chrome secretly downloading a 4GB AI model called Gemini Nano to eligible devices without user notification or consent.The model reinstalls itself automatically if users delete it, and Chrome does not offer an opt-out prompt during installation.Hanff argues the practice likely violates the EUs ePrivacy Directive and GDPR, raising legal questions that have not yet been tested in court.　　Google Chrome is silently installing a 4GB AI model on users devices without consent, a researcher found. Privacy researcher and computer scientist Alexander Hanff documented the installation after discovering that a Chrome profile he created for automated privacy audits had accumulated 4GB of model files called weights.bin inside a folder named OptGuideOnDeviceModel, despite receiving zero human input at any point.　　The model is Google‘s Gemini Nano, a lightweight on-device large language model. Hanff’s evidence chain shows Chrome downloading the 4GB file in 14 minutes and 28 seconds on April 24, 2026, without a consent prompt, without a settings notification, and without a checkbox.　　The file reinstalls automatically when restarted after deletion, according to multiple independent reports across Windows, macOS, and Linux.　　What

05-09Industry

M3 DAO and REI Network Forge Alliance to Drive Zero-Fee Web3 Onboarding for 200,000 Members

The rapid rise of Decentralized Autonomous Organizations (DAO) has posed major challenges inhibiting widescale adoption of DAOs. High fees and poor user experience are the primary obstacles to adoption, currently hindering users ability to engage effectively with DAOs.　　M3 DAO has partnered with REI Network to build solutions to the challenges of operating within the present DAO ecosystem. By partnering with REI Networks, M3 DAO will be able to utilize their use of providing zero-cost, lightweight technologies that enable M3 DAO to enhance the onboarding experience for an estimated 200,000 current global users to the Web3 solution.　　Bridging the Gap with Zero-Fee Infrastructure　　The foundation of this alliance is built on the technical expertise and infrastructure capabilities of REI Network. The REI Network was created to address the scalability problems of Layer-1 blockchains with a zero-fee model that allows users to interact with dApps without costly and variable transaction fees. Zero gas fee model provides M3 DAO to an entire community with a chance to use dApps very differently than in the past.　　Through its EVM-based architecture built on the REI project, the M3 DAO provides a governance model, asset management, and community incentive opportunities to its members. This is achieved without burdening users

05-09Industry

Stop Waiting For Your Wins: Discover The Best Online Casino Instant Payout in 2026 Before It Is Too Late

The current global wagering sector strictly requires platforms to provide verified financial execution and extreme liquidity. Bettors no longer tolerate delayed transactions or unverified promotional claims. Finding the best online casino instant payout destination is a top priority for serious players who demand immediate access to their capital.　　Operators must possess the absolute technical infrastructure necessary to handle massive traffic and process multi-million dollar requests simultaneously. Any platform failing to deliver these immediate cash distributions risks losing its entire active user base. Security, speed, and public proof of massive payouts dictate which brands successfully dominate the modern global market today.　　1. Spartans $7,000,000 Leaderboard Paid Out Proves Absolute Financial Trust　　Spartans Casino has officially set the absolute market standard by successfully completing its record-breaking prize cycle. The massive $7,000,000 monthly leaderboard has officially ended and successfully paid out, providing absolute proof of financial liquidity and platform trust. This verified $7,000,000 distribution provides the ultimate security for players searching for the fastest withdrawal online casino available. Successfully distributing a $7M prize pool guarantees that the operator can process any player transaction without administrative friction or delays.　　This elite financial execution aligns perfectly with the brand expanding aggressively into professional sports entertainment. Spartans has secured a

05-09Industry

Kraken sues Etana over $25m client fund theft

Krakens Etana fraud case alleges a Ponzi-like scheme diverted more than $25m in client funds.Kraken parent Payward filed a second amended complaint in Colorado federal court accusing Etana Custody and CEO Dion Russell of misappropriating over $25m in client funds.The complaint alleges Etana commingled custodial assets with operating funds, made risky bets totaling $16m through Seabury Trade Capital notes, and issued falsified account statements.Etana entered court-supervised liquidation in November 2025 with just $6.83m in cash against more than $26m in liabilities.　　Kraken‘s Etana fraud case alleges a Ponzi-like scheme diverted more than $25m in client funds. Kraken’s parent company Payward filed a second amended complaint on May 4 in the US District Court for the District of Colorado, accusing Etana Custody and its CEO Dion Brandon Russell of commingling custodial assets with operating funds, financing risky bets, and sending falsified account reports that showed balances as fully intact while a funding gap widened.　　Payward says Etana operated a “Ponzi-like enterprise” that recycled incoming client deposits to cover prior shortfalls. When Kraken attempted to withdraw roughly $25m in reserve funds in April 2025, Etana stalled with what the complaint calls fabricated reconciliation issues. At least $16m of the shortfall is tied to promissory

05-09Industry

Ethereum Faces Whale Pressure as Binance Deposits Hit $178 M

05-09Industry

Kraken parent goes for the OCC charter in bid to become a federal crypto bank

Payward, the parent company of crypto exchange Kraken, has applied for a national trust company charter with the U.S. Office of the Comptroller of the Currency (OCC), according to a Friday announcement shared with CoinDesk, as the company looks to expand its regulated digital-asset custody business.　　If approved, the charter would establish Payward National Trust Company (PNTC), a federally regulated entity focused on fiduciary custody and related services for digital assets. Kraken said the trust would primarily serve institutions and customers seeking bank-level custody protections under OCC oversight.　　The filing marks Paywards latest effort to expand its U.S. regulatory footprint as crypto firms increasingly pursue traditional financial charters to attract institutional clients and navigate a shifting regulatory environment.　　“A national trust company provides the certainty institutions require and establishes the infrastructure to build the next generation of custody,” Payward and Kraken Co-CEO Arjun Sethi said in the statement.　　The move comes as crypto firms increasingly seek federal charters, licenses and banking approvals under the Trump administrations more industry-friendly approach to digital-asset regulation.　　Krakens broader expansion strategy has included a string of acquisitions aimed at building regulated trading and payments infrastructure ahead of a potential IPO.　　In addition to its $1.5 billion acquisition of retail futures platform

05-09Industry

XRP Ledger Foundation Signals Public Collaboration Push Across Ecosystem

Tech　　XRP Ledger Foundation Signals Public Collaboration Push Across Ecosystem　　The Ledger Foundation, a nonprofit organization that contributes to, grows, and advocates for the Ledger and its community, said in a May 8 post on X that it is entering a more public phase of collaboration across the ecosystem. The update introduced the team managing daily operations, engineering coordination, and community engagement.　　“The Ledger Foundation exists to support the Ledger and everyone shaping it,” the Foundation said, adding:　　“Today we introduce the new team driving that work day-to-day — the people youll be hearing from, building with, and running into at events throughout the year.”　　Brett Mollin leads the organization as executive director, setting strategic direction, working with the board on long-term priorities, and coordinating engineering, community, operations, and partnerships. Denis Angell, one of the most active contributors to the XRPL codebase, is transitioning from XRPL Labs to become chief technology officer. He will lead engineering work, including technical direction, amendment development, standards, and production contributions.　　Rene Huijsen serves as director of operations, handling financial coordination and supporting the operating structure behind the teams work. He previously spent years at Ripple as director of payment operations and took part in the Bank for International Settlements Cross-border

05-09Industry