Decentral Block Post

Sweat, a move-to-earn platform that rewards users for physical activity, has launched a personalized AI agent and expanded its multichain infrastructure. The update is designed to improve user onboarding by offering interactive guidance and simplifying asset management across blockchains.

The AI agent, named Mia (short for Movement in Action), is powered by Near.AI — an open-source AI model platform with crosschain capabilities. Integrated into the Sweat wallet, Mia helps users to bridge, swap and manage their crypto rewards without needing deep crypto knowledge..

Sweat is rolling out support for Base, Ethereum, Arbitrum and BNB Chain. Within the app, users can now bridge assets and swap native tokens across networks, with the option to pay gas fees in Sweat (SWEAT) tokens.

Sweat co-founder Oleg Fomenko told Cointelegraph: “We’ve shifted to championing the Movement Economy — an expansive, multichain ecosystem where movement is not only rewarded but also unlocks access to financial tools, health experiences and self-sovereign identity.”

Mia in Sweat wallet Source: swe.at

Related: Near’s crosschain AI Assistant will soon book flights and order takeout for you

Key takeaways:

Ether breaks multimonth downtrend as traders target $3,000 ETH price.

Ethereum TVL surges 41% to $52.8 billion in 30 days, with a 22% rise in daily transactions to 1.34 million, signaling strong network recovery.

Technicals show ETH price faces major resistance at $2,100-$2,800.

Ether is setting up for a recovery toward the $3,000 psychological level, backed by recovering network activity, increasing TVL, and strong technicals. 

Space and Time, a blockchain project supported by Microsoft, has launched its public, permissionless mainnet to bring zero-knowledge (ZK)-proven data infrastructure to crypto applications.

Built by MakeInfinite Labs, Space and Time offers a decentralized, verifiable database for smart contracts to query historical, crosschain and offchain data, according to a news release shared with Cointelegraph.

The platform indexes data from major networks like Ethereum and makes it accessible through a decentralized network of validators. Developers can query this data using Space and Time’s Proof of SQL — a sub-second ZK coprocessor that delivers cryptographic proofs with every query.

“Prior to Space and Time, onchain applications had no way to query basic user data from a database of blockchain activity without introducing security risks and tampering,” said Scott Dykstra, co-founder at Space and Time.

He added that developers can now build onchain apps with built-in security, using cryptographic proofs to connect cloud databases to smart contracts.

Doodles’ non-fungible token (NFTs) sales surged by 97% in the last 24 hours as digital collectible traders anticipate the project’s token generation event and airdrop. 

On May 8, data from CryptoSlam showed Doodles NFT sales topping $1.1 million, nearly doubling the previous day’s total. The spike placed Doodles in the third spot for daily NFT sales, following DMarket and Courtyard NFTs.

Over the past week, Doodles recorded $2.6 million in total sales volume, up 368% from the week prior and ranking fifth among all NFT collections, according to CryptoSlam.

The surge comes ahead of the launch of Doodles’ long-awaited DOOD token. The project announced on May 7 that the token generation event will take place on May 9.

Source: Doodles

Doodles to launch DOOD token and airdrop 

Doodles announced its memecoin launch on Feb. 13, saying it would mint 10 billion DOOD tokens on Solana. The project also said that it would bridge to the Base blockchain in the future. 

The Ethereum Pectra upgrade introduced a significant upgrade in account abstraction accessibility, with multiple wallets already implementing the change.

Pectra introduced Ethereum Improvement Proposal (EIP) 7702, a change that Ivo Georgiev, founder and CEO of self-custodial smart wallet Ambire, described as “the single greatest UX upgrade to Ethereum so far.” Ambire is among the wallet providers that have already rolled out support for the new features since Pectra went live yesterday.

Ambire’s announcement shared with Cointelegraph explains that EIP-7702 brings smart account functionality to existing user accounts, letting them temporarily act as smart contracts. This results in the advantages of account abstraction being accessible without creating new dedicated onchain addresses, rendering the transition of existing addresses possible.

Another wallet that launched new features was Trust Wallet, allowing users to pay gas (transaction fees) in tokens such as stablecoins instead of Ether (ETH). The new wallets are also programmable and still ensure self-custody.

Source: Trust Wallet

Related: AI and account abstraction keys to mass Web3 adoption: X Spaces recap with Plena Finance

Key points:

Bitcoin’s realized cap is beating records and has almost reached the $900 billion mark.

The market is laying the foundations for a “potentially significant price breakout,” new analysis says.

Profit-taking is not hindering the overall bull market rebound.

Bitcoin (BTC) is setting new all-time highs in network value as BTC price action eyes a return to six figures.

Almost 60,000 Bitcoin addresses tied to LockBit’s ransomware infrastructure were leaked after hackers breached the group’s dark web affiliate panel. 

The leak included a MySQL database dump shared publicly online. It contained crypto-related information that could help blockchain analysts trace the group’s illicit financial flows.

Ransomware is a type of malware used by malicious actors. It locks its target’s files or computer systems, making them inaccessible. The attackers typically demand a ransom payment, often in digital assets like Bitcoin (BTC), in exchange for a decryption key to unlock the files.

LockBit is one of the most notorious crypto ransomware groups. In February 2024, 10 countries launched a joint operation to disrupt the group, saying that the organization had caused billions in damages to key infrastructure. 

Source: ReyXBF

No Bitcoin private keys leaked

While almost 60,000 Bitcoin wallets were leaked, no private keys were included. One X user shared a conversation with a LockBit operator, confirming the breach. However, the LockBit person said no private keys or data were lost. 

David Bailey, CEO of crypto media company BTC Inc. and a close adviser to US President Donald Trump on digital assets, has reportedly raised $300 million to launch a new Bitcoin investment firm.

The venture, named Nakamoto after the pseudonymous creator of Bitcoin, Satoshi Nakamoto, aims to become a publicly traded company focused on acquiring and holding the cryptocurrency, CNBC reported, citing people familiar with the matter. The Information was first to cover the story.

The funding round, which has been quietly in motion since January, includes $200 million in equity and $100 million in convertible debt, a source familiar with the matter told CNBC.

While the firm has not officially announced the raise, an official reveal and merger with a Nasdaq-listed company is expected as early as next week. The combined entity is set to go public this summer, per the report.

“No comment,” Bailey wrote in a May 7 post on X, apparently in response to the news about the Bitcoin (BTC) investment firm.

The US Office of the Comptroller of the Currency (OCC) has confirmed banks under its jurisdiction can trade crypto on behalf of customers and outsource some crypto activities to third parties. 

Acting comptroller Rodney Hood said in a May 7 letter that banks and federal savings associations can buy and sell crypto they hold in custody at customers’ direction.

The OCC added in a press release that financial institutions can also outsource bank-permissible crypto activities, including custody and execution services, to third parties in compliance with applicable law.

“Additionally, these banks may provide other custody services, including record keeping, tax or reporting services for their customers,” Hood said in a May 7 video posted to X. 

OCC-regulated banks may buy and sell assets held in custody and are permitted to outsource bank-permissible crypto-asset activities, including custody and execution services. https://t.co/0ScQdgNaS6 pic.twitter.com/J5dEkx4WUL

Group of Seven (G7) leaders could discuss North Korea’s escalating cyberattacks and crypto thefts at an upcoming summit in Canada, mid-next month.

Conflicts in Ukraine and Gaza will dominate discussions, but North Korea’s increasing cyber threats and crypto hacks have become a major concern requiring a coordinated international response, Bloomberg reported on May 7, citing people familiar with the plans.

The people said North Korea’s nefarious cyber operations are alarming, as the stolen crypto has become a key funding source for the regime and its programs. 

North Korean-affiliated hacking groups such as the Lazarus Group have already stolen billions of dollars worth of crypto this year, including pulling off the $1.4 billion hack on Bybit in February, the largest ever for the crypto industry.

North Korean-linked hackers also stole more than $1.3 billion through 47 crypto heists during 2024, according to blockchain analytics firm Chainalysis. The US, Japan and South Korea warned in January that North Korea also deployed tech workers to infiltrate crypto companies as insider threats.

Bitcoiners expect Bitcoin to soon break past $100,000 and potentially hit a new all-time high as US President Donald Trump is set to announce a trade deal with the UK.

Trump said in a May 7 Truth Social post that a “major trade deal” with a “big, and highly respected, country” would be announced on May 8, which The New York Times reported would be the UK, citing three people familiar with the plans.

Bitcoin inches toward $100,000

When Trump published his post, Bitcoin (BTC) was trading at around $97,759 and has since crept up closer to the psychological $100,000 price level to trade at $99,140 at the time of publication, according to CoinMarketCap data.

Bitcoin is trading at $99,140 at the time of publication. Source: CoinMarketCap

Several Bitcoiners and analysts are crediting the rally toward $100,000 to speculation surrounding the trade deal.

Australian crypto exchange BTC Markets’ head of finance, Charlie Sherry, told Cointelegraph that “as everyone else was looking down and calling for lower,” Bitcoin’s price did the opposite.

A Texas House Committee has passed a Republican-backed bill to create a Bitcoin reserve, which now only needs a successful full floor vote before heading to the governor’s desk.

The Texas House Committee on Delivery of Government Efficiency passed Senate Bill 21 with no amendments on May 7 in a 9-4 vote along party lines. The bill has already passed the Texas Senate, in a 25-5 vote on March 6.

SB 21 would establish the “Texas Strategic Bitcoin Reserve,” controlled by the state’s comptroller — currently Glenn Hegar — who would be permitted to invest in digital assets that have obtained a market cap of at least $500 billion over the last twelve months, which would currently only include Bitcoin (BTC).

Source: Pierre Rochard

Republican Senator Charles Schwertner initially introduced SB 21 in January as a Bitcoin-only bill.

However, the bill was refiled to include the potential inclusion of other digital assets in February.

Bitcoin has reclaimed $98,000 for the first time in almost three months after the US Federal Reserve said it would keep interest rates the same for another month.

The Fed’s decision to keep interest rates unchanged comes despite mounting pressure from US President Donald Trump, who just weeks ago threatened to fire Fed chair Jerome Powell for being “too late” in cutting rates.

Fed cites higher unemployment, inflation risk

Powell said on May 7 that the Federal Reserve rate-setting committee held rates in the 4.25% to 4.50% range due to the rising risks of higher unemployment and higher inflation.

He added inflation has “come down a great deal but has been running above our 2% longer objective.” Powell said surveys in households and businesses showed a “sharp decline in sentiment” mainly due to concerns over Trump’s trade policy.

However, Powell said that “despite heightened uncertainty, the economy is still in a solid position.” In the days leading up to the announcement, data from CME Group’s FedWatch Tool indicated that the futures market expected minimal odds of a rate cut.

Nasdaq-listed Bitcoin mining firm Core Scientific Inc. posted a net profit of $580 million with its first quarter results, but missed analyst revenue estimates after a drop in its mining profits.

Core Scientific’s Q1 2025 results, published on May 7, saw it more than double its $210 million net income from the year-ago quarter, while its total revenue reached $79.5 million, missing Zacks analysts' estimates by 8.11%, and falling from its $179.3 million in revenues for Q1 2024. 

The firm’s primary source of revenue came from $67.2 million in self-mining revenue, $3.8 million in hosted mining revenue, and $8.6 million in colocation, formerly listed as high-performance computing (HPC) hosting.

Source: Core Scientific

Core Scientific said its drop in Bitcoin (BTC) mined and revenue was due to the halving on April 20, 2024, when mining rewards were cut from 6.25 BTC to 3.125 BTC, and its operational shift to HPC hosting, primarily used for artificial intelligence.

However, the losses were partially offset by a 74% increase in the average price of Bitcoin and a 33% decrease in power costs due to lower rates and usage. 

Arizona Governor Katie Hobbs has signed a bill into law allowing the US state to keep unclaimed crypto and establish a “Bitcoin Reserve Fund” that won’t use any taxpayer money or state funds.

Hobbs signed House Bill 2749 into law on May 7, which allows Arizona to claim ownership of abandoned digital assets if the owner fails to respond to communications within three years.

The state’s custodians can stake the crypto to earn rewards or receive airdrops, which can then be deposited into what Arizona has called a Bitcoin and Digital Asset Reserve Fund.

“This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country in how we secure, manage, and ultimately benefit from abandoned digital currency,” the bill’s sponsor, Jeff Weninger, said in a May 7 statement.

Arizona House Representative Jeff Weninger’s statement on the signing of HB 2749 into law. Source: Jeff Weninger

“We’ve built a structure that protects property rights, respects ownership, and gives the state tools to account for a new category of value in the economy,” Weninger added.

Binance founder and convicted felon Changpeng Zhao says that he applied for a pardon from US President Donald Trump shortly after denying reports that he was seeking one.

Zhao, also known as CZ, said on a Farokh Radio podcast episode aired May 6 that he “wouldn’t mind” a pardon and that his lawyers have already filed the paperwork on his behalf

“I got lawyers applying,” Zhao said, adding that he submitted the request after Bloomberg and The Wall Street Journal reported in March that he was seeking a pardon from Trump amid discussions of a business deal between the Trump family and Binance.US.

Zhao denied the reports at the time, but said on the podcast that he thought “if they’re writing this article, I may as well just officially apply.”

He added that Trump’s pardon of three BitMEX founders, including Arthur Hayes, also motivated him to submit an application.

Stripe, a global payments platform, has introduced stablecoin-based accounts to clients in over 100 countries.

According to a May 7 announcement, the new feature will allow the platform's clients "to send, receive, and hold US-dollar stablecoin account balances, similar to how a traditional fiat bank account works."

The product's technical page shows that the new account feature will support Circle's USDC (USDC) and Bridge's USDB (USDB) stablecoins. Stripe acquired the Bridge platform in October 2024.

The product will be available to clients in more than 100 countries, including Argentina, Chilé, Turkey, Colombia, and Peru, among others.

Stripe's newly launched product comes at a time when stablecoins are increasingly seen as stores of value in developing economies struggling with high inflation, capital controls, and a lack of financial infrastructure.

The stablecoin market cap has crossed $231 billion and continues to grow due to international demand for US dollar tokens. Source: RWA.XYZ

Related: Stablecoin fever: 5 major stablecoins are growing crypto adoption

Brokerage fintech Robinhood is reportedly developing a blockchain network that will enable retail investors in Europe to trade US securities.

According to a May 7 Bloomberg report citing sources familiar with the matter, the move seeks to expand the company's local presence by offering trading of tokenized securities, such as stocks.

Two crypto firms, Arbitrum and the Solana Foundation, are reportedly vying to become partners in the project. Tokenization is the process of turning real-world assets, like stocks, real estate, or commodities, into digital tokens that can be traded on a blockchain.

Tokenizing securities instead of providing direct exposure can offer several advantages: reduced costs by eliminating traditional financial infrastructure, enhanced accessibility, faster settlement times, and quicker transactions. More brokerages and investment firms are exploring asset tokenization.

Robinhood has been preparing to enter the European market. In April 2025, it acquired a brokerage license in Lithuania that allows the firm to offer investment services throughout the European Union. Robinhood has also inked a deal in 2024 to purchase crypto exchange Bitstamp.

What to know:

Lyn Alden says a weaker dollar is necessary for the US to stabilize its financial system.

Bitcoin and gold are well-positioned to benefit from de-dollarization.

Sovereign wealth funds and various nations are already increasing their Bitcoin exposure as the dollar’s global dominance starts to wane.

The weakening of the US dollar (DXY) is no longer headline news. With mounting disruptions across the US economy, a declining greenback has become part of the backdrop. Since the start of 2025, the US Dollar Index has dropped 11%, now hovering around levels last seen in April 2022. Markets have largely responded with a shrug. After all, in times of deep restructuring, isn’t some dollar weakness to be expected?

Braden John Karony, the former CEO of crypto firm SafeMoon, made an out-of-court statement claiming innocence as his criminal trial began in New York.

In a May 6 X post after court proceedings had likely ended for the day, Karony said he was innocent and “did not commit fraud” in response to media coverage of his trial. The former CEO, as well as SafeMoon creator Kyle Nagy and former chief technology officer Thomas Smith, were charged in 2023 for having allegedly “diverted and misappropriated millions of dollars’ worth” of the platform’s SFM token.

According to reporting from the US District Court for the Eastern District of New York (EDNY) on May 6, Karony implied that Nagy, who reportedly fled to Russia after authorities filed charges, was responsible for some of the alleged fraud at SafeMoon. On the first day of the trial, after jury selection, Smith reportedly appeared as a witness for the prosecution with a SafeMoon victim.

The trial, expected to run until May 26, has arguably received less media attention and scrutiny than other crypto cases, such as the 2023 trial of former FTX CEO Sam Bankman-Fried and the sentencing of former Binance CEO Changpeng Zhao. Karony pleaded not guilty to charges of securities fraud conspiracy, wire fraud conspiracy and money laundering conspiracy, and has been free on a $3 million bond since February 2024.

Related: What do crypto users want to happen to Alex Mashinsky?

Binance-affiliated BNB Chain has rebounded after a period of stagnation in 2023 amid accelerating institutional and decentralized finance (DeFi) adoption. 

During the past year, BNB Chain has benefited from multibillion-dollar inflows into DeFi, US exchange-traded funds (ETFs), and rising trading volume at affiliated centralized exchange (CEX) Binance. 

Consequently, the blockchain network’s native BNB token (BNB) has emerged as among the market’s most resilient cryptocurrencies, surpassing all-time highs in the first quarter of 2025 even as the broader crypto market trended downward. 

“This resilience isn't just about price action — strong fundamentals also back it,” Joao Wedson, CEO of investing analytics platform Alphractal, said in an April X post. “Binance has built a massive ecosystem where BNB is used extensively,” Wedson added.

Asset manager Standard Chartered expects the BNB token’s price to continue to rise, reaching highs of $2,775 by the end of 2028. As of May 7, BNB trades at around $600 per coin. It has a market capitalization of nearly $85 billion, according to CoinMarketCap.

Key takeaways:

Reclaiming the $2,200 level remains the first price challenge for ETH. 

ETH price could recover if the Pectra upgrade leads to a surge in DApp and Ethereum network activity. 

Ethereum successfully implemented a key network upgrade on May 7, but Ether (ETH) price and its derivatives metrics showed little response to the upgrade. The lackluster response surprised traders and led analysts to question whether ETH still has a real chance of climbing 22% to retake the $2,200 level.

Ether 30-day futures annualized premium. Source: Laevitas.ch

The ETH futures premium has remained below the 5% neutral threshold, indicating a lack of appetite from leveraged bulls. More significantly, this indicator was unchanged at 3% after the Pectra upgrade, suggesting traders did not adjust their positions despite the upgrade’s successful deployment. 

Onchain sleuth and security analyst ZackXBT claims to have identified an additional $45 million in funds stolen from Coinbase users through social engineering scams in the past seven days alone.

According to the onchain detective, the $45 million figure represents the latest financial losses in a string of social engineering scams targeting Coinbase users, which ZackXBT said is a problem unique among crypto exchanges:

"Over the past few months, I have reported on nine figures stolen from Coinbase users via similar social engineering scams. Interestingly, no other major exchange has the same problem."

Cointelegraph reached out to Coinbase but was unable to get a response by the time of publication.

Source: ZachXBT

The claims made by ZackXBT place the total amount lost by Coinbase users to social engineering scams at $330 million annually and reflect the growing number of sophisticated attack strategies employed by threat actors to defraud crypto holders.

Related: $330M Bitcoin social engineering theft victim is elderly US citizen

Speaking at a hearing, US Treasury Secretary Scott Bessent suggested support for two crypto-related bills moving through Congress.

Bessent addressed lawmakers at a May 7 hearing of the House Financial Services Committee, saying that the United States should be the “premier destination for digital assets” in response to a question about American dominance over China in crypto-related innovation. The Treasury Secretary added that “good market structure” and “stablecoin legislation” could help ensure this outcome.

US Treasury Secretary speaking at a May 7 hearing. Source: Scott Bessent

Bessent’s remarks echoed those of other Republican lawmakers and President Donald Trump, who initially claimed he wanted to make the US the “crypto capital of the world” during his 2024 campaign. The Treasury Secretary was likely referring to the draft of a digital asset market structure bill released by House Republicans on May 6 and the GENIUS bill to regulate stablecoins, expected to be taken up for a vote in the Senate on May 8.

The Treasury Secretary, a Trump nominee, has stood by the president for significant announcements in crypto-aligned policy, including an executive order to establish a sovereign wealth fund and as a member of a working group to explore federal regulations for stablecoins and a national crypto stockpile. He suggested during a confirmation hearing that he would oppose the creation of any US-issued central bank digital currency while in office.

Related: Bitcoin ‘Realized Cap’ hits $890B as BTC traders focus on recapturing $100K

Threat group COLDRIVER is using new malware to steal documents from Western targets, according to a May 7 report from Google Threat Intelligence. The malware, called LOSTKEYS, shows the evolution of the group from credential phishing to more sophisticated attacks.

According to the Google report, the new malware is installed through four steps. The process involves a “lure website” with a fake CAPTCHA, a PowerShell script downloaded to the user’s clipboard, some device evasion, and retrieval of the final payload. Lastly, the malware is installed.

LOSTKEYS payload delivery. Source: Google

LOSTKEYS is capable of stealing files from extensions and directories. It can also send system information and running processes back to COLDRIVER. The address from which the parts of the attack come is “165.227.148[.]68” according to Google.

The company says it has already taken steps to mitigate any damage the LOSTKEYS malware will cause, including adding the malicious websites to the company’s “Safe Browsing” feature.

According to Google, COLDRIVER is a Russian-backed threat group that typically engages in phishing attempts at high-profile Western targets, such as former diplomats, and journalists. In January 2024, it started an attack with a malware called “Spica,” which can execute arbitrary shell commands and download or upload software.

Key Takeaways:

Bitcoin’s realized capitalization hit a record $890 billion, reflecting strong investor conviction as long-term and short-term holders increased allocations.

Large Bitcoin holders with over 1,000 BTC have accumulated significantly since March 2025, reflecting the Q1 2024 trend.

Bitcoin (BTC) price saw a short-squeeze above $97,000 on May 6, shortly after US Treasury Secretary Scott Bessent announced that trade talks would commence with China on May 10. At the same time, BTC’s realized capitalization, a metric adding the dollar value of all coins at their last moved price, soared to a new all-time high of $890 billion on May 7, 2025. The surge also marks the metric’s third consecutive week of record-breaking growth.

Bitcoin realized cap. Source: CryptoQuant

The realized cap’s rise highlights the total investment held by Bitcoin owners, with long-term holders (LTHs) and short-term holders (STHs) increasing their positions. It reflects investors’ conviction, signaling a potential anticipation for a price breakout. 

Strive Asset Management, founded by entrepreneur and former presidential candidate Vivek Ramaswamy, has revealed plans to transition into a Bitcoin treasury company.

According to a May 7 announcement, Strive is going public through a reverse merger and plans to use the combined company’s stock to accumulate Bitcoin (BTC).

The deal will see Strive merging with Asset Entities — a social media marketing company listed on the Nasdaq. The combined entity will operate under the Strive brand and use its access to the public equity markets to finance Bitcoin purchases, the company said. 

Once the deal closes, Strive plans to issue approximately $1 billion in equity and debt and use the proceeds to accumulate BTC. The asset manager “intends to use all available mechanisms to build a Bitcoin war chest […] and build a long-term investment approach designed to outperform Bitcoin,” it said.

Strive plans to allow “Bitcoin holders to contribute Bitcoin in exchange for public stock through a structure that is intended to be tax-free,” it said. As of May 7, the company manages approximately $2 billion in net assets across a variety of funds. 

Key points:

Bitcoin price hangs near $97,000 as traders await today’s FOMC minutes.

Bitcoin holding $95,000 as support is key for bullish price expansion in the short term.

Select altcoins are holding their respective support levels, opening the gates for a short-term rally.

Bitcoin (BTC) bulls are trying to knock down the immediate resistance at $97,895 and challenge the all-important $100,000 level. Crypto analytics platform Santiment said in a post on X that Bitcoin wallets holding between 10 and 10,000 Bitcoin are positive about further gains as they have acquired 81,338 Bitcoin over the past six weeks.