Crypto News
Bitcoin hodler unrealized profits near 350% as $100K risks sell-off
Key points:Bitcoin long-term holders are about to hit a level of unrealized profit, which has traditionally caused them to sell.That level coincides with the return to a six-figure BTC price.Order book data suggests that bulls may not succeed in keeping the upside going.Bitcoin (BTC) risks a “notable increase” in selling from its older investors if price rises further, warns onchain analytics firm Glassnode.In the latest edition of its regular newsletter, “The Week Onchain,” researchers calculated that long-term holders (LTHs) are sitting on almost 350% unrealized profits.Bitcoin sell-side odds in line for crucial testBitcoin at multimonth highs will tempt an increasing number of hodlers to take profits — including so-called “diamond hands.”Using a variety of metrics to track investor profitability, Glassnode shows that aggregate LTH unrealized profits are now nearing 350% — a key historical level.“Having established that the LTH cohort is expressing a preference to hold onto their supply, we can attempt to quantify the potential price levels required to entice them to part with their coins, and commence the next wave of profit taking,” it explains.LTH refers to entities holding BTC for more than six months. For Glassnode, the key price area to watch for changes in their behavior is the $100,000 zone.“Historically speaking, the Long-Term Holder cohort typically ramps up their spending pressure when the average member is holding a +350% unrealized profit margin,” it explains.“Reconciling this information with the spot price, the average LTH is expected to hit a 350% profit margin at the $99.9k level. As such, we can anticipate an uptick in sell-side pressure as the market approaches this zone, making it an area that will likely require substantial buy-side demand to absorb the distribution, and sustain upwards momentum.”Bitcoin LTH profit levels (screenshot). Source: GlassnodeTrader: BTC price upside potential “looks thin”BTC/USD reached $97,500 this week before cooling off — its highest since Feb. 21, per data from Cointelegraph Markets Pro and TradingView.Related: Bitcoin eyes gains as macro data makes US recession 2025 ‘base case’While more than $20,000 above its recent lows, Bitcoin is not yet convincing traders that it can return to classic bull market behavior.Popular trader TheKingfisher pointed to order book liquidity as one sign that sellers may take revenge on the recovery.“Massive wall of LONG liquidations stacked up under ~$91k. Shorts above current price ($96.6k)? Barely anything significant,” he wrote in part of an X post on May 1.“Huge imbalance suggests potential downside magnet is strong. High risk for longs near current levels. Upside fuel looks thin for now.”Bitcoin exchange order book liquidity data. Source: TheKingfisher/XGlassnode also acknowledged the need to demonstrate key resistance/support flips, referencing the 111-day simple moving average (SMA) and the aggregate cost basis of Bitcoin speculators, known as short-term holders (STHs).“The price has recently surged above both of these pricing models, and is now attempting to consolidate within this zone. This highlights a noteworthy degree of strength behind this upwards swing,” it commented. “However, these are levels that must be broken and held for further price appreciation, as a rejection of this level would push the price back into bearish territory, and return many investors to a state of meaningful unrealized loss.”BTC/USD chart with 11-day SMA, STH realized price. Source: GlassnodeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-05-02 10:38:44Creator: Cointelegraph by William Suberg
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Movement Labs suspends co-founder following MOVE market turmoil
Movement Labs confirmed the suspension of its co-founder, Rushi Manche, following controversies over a market maker deal that he brokered.Movement announced the suspension of Manche in a May 2 X post, explaining that the “decision was made in light of ongoing events.” The decision follows Coinbase's recent decision to suspend the Movement Network (MOVE) trading, citing the token’s failure to meet its listing standards.Source: MovementThe suspension came after a recently announced third-party review requested by the Movement Network Foundation into an agreement orchestrated by Manche with Rentech — the latter helped broker an agreement with market maker Web3Port. Private intelligence firm Groom Lake is conducting the investigation.This was followed by Web3Port reportedly selling the 66 million MOVE that it gained through the deal — about 5% of the total supply. This led to $38 million in downward price pressure in December 2024.Groom Lake refused to comment on the investigation.Related: Citadel Securities eyes market-making role for crypto exchanges: ReportMarket makers are a controversial player in cryptoAccording to a recent analysis, the right market maker can be a launchpad for a cryptocurrency project, opening the door to major exchanges and providing valuable liquidity to ensure a token is tradeable. On the other hand, when the wrong incentives are set, market makers can kill a project as it is taking its first steps in the market.A summer 2024 report suggests that up to 78% of new token listings since April 2024 have been poorly conducted, with some suggesting that market makers are involved.Related: How to choose a market maker for your Web3 projectLawsuits claim market maker manipulationCreditors of bankrupt cryptocurrency lending platform Celsius Network have alleged that leading crypto market maker Wintermute was involved in the wash trading of the Celsius token. Wash trading is a form of market manipulation that creates the illusion that a particular asset is trading at a higher volume than it actually is.This is far from the only such case. In late 2024, Fracture Labs, creator of the Web3 game Decimated, filed suit against market maker Jump Crypto for allegedly orchestrating a pump-and-dump scheme using its in-game currency, DIO.Another notable example is a Wall Street Journal report claimed that DWF Labs, one of Binance’s largest trading clients, engaged in market manipulation, wash trading and inflated trading volumes amounting to $300 million through deals with crypto projects. DWF Labs and Binance later denied the accusation in May 2024.Last month, a Massachusetts court fined crypto market maker CLS Global for fraudulent manipulation of trading volumes. In late February, the founder of a so-called crypto hedge fund and market maker called Gotbit was extradited from Portugal to the US, where he faces market manipulation charges and wire fraud conspiracy.Magazine: What do crypto market makers actually do? Liquidity, or manipulation
Published Date: 2025-05-02 09:53:28Creator: Cointelegraph by Adrian Zmudzinski
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From digital identity to outer space: Projects push crypto use cases
As the crypto space developed, blockchain use cases expanded from simple digital currencies and non-fungible tokens (NFTs) to more complex areas such as digital identity verification and telecommunications. Ahead of the Token2049 event in Dubai, Cointelegraph spoke with Spacecoin CEO Stuart Gardner, Spacecoin founder Tae Oh, and Humanity Protocol founder Terrence Kwok to explore how they use blockchain to improve certain industries. From addressing challenges like verification in the artificial intelligence era to bringing internet connectivity to developing countries, projects are integrating blockchain to solve problems in different industries. Digital identity verification to combat the AI threat As artificial intelligence developed, the technology brought improvements that people could benefit from. However, the technology was also adopted by malicious actors who used the tech to perform AI-assisted hack research and deepfake scams. Kwok told Cointelegraph that just two years ago, the idea of having to prove you’re human seemed “crazy.” However, with today’s advancements in AI, it has become remarkably easy to fake being a real person.“As for content, you can't tell if it's AI-generated or not. Video deepfakes, you cannot tell, right? Even documents. It's super easy now to use AI to create a fake proof of address, a fake proof of balance for your bank statement. I think in the future it's only going to get worse,” he said. The executive also said that in the future, AI may also exist in the physical world through humanoids that might mimic human beings. In 2024, Tesla's humanoid robot project was showcased on social media, highlighting developments in humanoid robotics. Kwok said that the development of robots underscores the need for human identity verification even more. The executive said that this was why they launched the Humanity Protocol, which uses blockchain tech for digital identity verification. “The internet is filled with bots, you know, it's filled with AI agents. They're great, but there's also a need to be able to verify and check whether something or somebody is a person or not,” Kwok told Cointelegraph. Terrence Kwok (left) and Cointelegraph’s Ezra Reguerra at the Dubai Polo and Equestrian Club. Source: CointelegraphRelated: Global demand grows for non-dollar stablecoins, says Fireblocks execDecentralized satellite network to combat the connectivity oligopolyApart from digital identity, blockchain technology is also being used to create a decentralized satellite network. Gardner told Cointelegraph that at the moment, the satellite connectivity landscape is an oligopoly, a market structure where the industry is dominated by only a few large players. The executive pointed out that Starlink and Amazon lead the race, while the EU and China are catching up. However, the big problem is that over 150 countries are lagging behind. “They're going to become reliant upon working with one of these oligopolies for their connectivity. And that poses a big issue for these people,” Gardner added. On Nov. 1, Spacecoin unveiled a plan to launch a decentralized physical infrastructure network (DePIN) through a fleet of nanosatellites in space. Oh told Cointelegraph that the Spacecoin idea came from the observation that the space industry is getting heavily commoditized. However, the executive said that it was possible for smaller companies or even individuals to launch their own satellites and start building constellations for connectivity. The Spacecoin founder added that since different people or entities own each satellite, it's essentially a "decentralized network." The executive said that they integrated crypto into the project to have a "trustless means of payment and data exchange." Oh said that this was where the blockchain comes in. Gardner (left), Oh (center), and Reguerra at the Crypto Polo event in Dubai. Source: CointelegraphMagazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
Published Date: 2025-05-02 09:04:19Creator: Cointelegraph by Ezra Reguerra
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Stablecoins: Depegging, fraudsters and decentralization
Opinion by: Merav Ozair, PhDLately, stablecoins are everywhere — this time around, headed by “traditional” financial institutions. Bank of America and Standard Chartered are considering launching their own stablecoin, joining JPMorgan, which launched its stablecoin, JPM Coin — rebranded as Kinexys Digital Payments — to facilitate transactions with their institutional clients on their blockchain platform, Kinexys (formerly Onyx). Mastercard plans to bring stablecoins to the mainstream, joining Bleap Finance, a crypto startup. The aim is to enable stablecoins to be spent directly onchain — without conversions or intermediaries — seamlessly integrating blockchain assets with Mastercard’s global payment rails. In early April 2025, Visa joined the Global Dollar Network (USDG) stablecoin consortium. The company will become the first traditional finance player to join the consortium. In late March 2025, NYSE parent Intercontinental Exchange (ICE) announced that it is investigating applications for using USDC (USDC) stablecoin and US Yield Coin within its derivatives exchanges, clearinghouses, data services and other markets.Why the renewed interest in stablecoins?Regulatory clarity and acceptanceRecent moves by regulatory bodies in the United States and Europe have created more straightforward guidelines for cryptocurrency use. In the US, Congress is considering legislation to establish formal standards for stablecoins, bolstering confidence among banks and fintech companies.The European Union’s Markets in Crypto-Assets regulation requires that stablecoin issuers operating within the EU adhere to specific financial standards, including special reserve requirements and risk mitigation. In the UK, financial authorities plan to conduct consultations to draft rules governing stablecoin use, further facilitating their acceptance and adoption.The Trump administration executive order 14067, “Strengthening American Leadership in Digital Financial Technology,” supports and “promotes the development and growth of lawful and legitimate dollar-backed stablecoins worldwide” while “prohibiting the establishment, issuance, circulation, and use of a CBDC within the jurisdiction of the United States.”This executive order, followed by Trump’s World Liberty Financial company launching a stablecoin called USD1, signals that this is the era of stablecoins, particularly those pegged to the USD.Do we need more stablecoins?The stablecoin landscapeThere are over 200 stablecoins, most pegged to the US dollar. Two established stablecoins dominate the stablecoin landscape. Tether’s USDt (USDT), the oldest stablecoin, launched in 2014 and USDC, launched in 2018, capturing 65% and 28% of stablecoins market cap, respectively — both are centralized fiat collateralized. Recent: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fightIn third place, a relatively new one, USDe, launched in February 2024, holds about 2% of the stablecoin market cap and has an unconventional mechanism based on derivatives in the crypto market. Although it runs on a DeFi protocol on Ethereum, it incorporates centralized features since centralized exchanges hold the derivatives positions.There are three primary mechanisms of stablecoins:Centralized, fiat-collateralized: A centralized company maintains reserves of the assets in a bank or trust (e.g., for currency) or a vault (e.g., for gold) and issues tokens (i.e., stablecoins) that represent a claim on the underlying asset.Decentralized, cryptocurrency-collateralized: A stablecoin is backed by other decentralized crypto assets. One example can be found in the MakerDAO stablecoin Dai (DAI), which is pegged to the US dollar and encapsulates the features of decentralization. While a central organization controls centralized stablecoins, no one entity controls the issuance of DAI.Decentralized, uncollateralized: This mechanism ensures the stability of the coin’s value by controlling its supply through an algorithm executed by a smart contract. In some ways, this is no different from central banks, which also don’t rely on reserve assets to keep the value of their currency stable. The difference is that central banks, like the Federal Reserve, set a monetary policy publicly based on well-understood parameters, and its status as the issuer of legal tender provides the credibility of that policy.Depegging, risk and fraudstersStablecoins are supposed to be stable. They were created to overcome the inherent volatility of cryptocurrencies. To maintain their stability, stablecoins should (1) be pegged to a stable asset and (2) follow a mechanism that sustains the peg.If stablecoins are pegged to gold or electricity, they will reflect the volatility of these assets and thus may not be the best choice if you are seeking a no-risk (or close to no-risk) asset.USDe maintains a peg to the USD through delta hedging. It uses short and long positions in futures, which generates a 27% yield annually — significantly higher than the 12% annual yield of other stablecoins pegged to the USD. Derivative positions are considered risky — the higher the risk, the higher the return. Therefore, it encapsulates an inherited risk due to its reliance on derivatives, which runs counter to the purpose of stablecoins. Stablecoins have been around for more than a decade. During this time, there were no major depegging fiascos other than the case of Terra. The collapse of Terra was not the result of a reserve problem or mechanism but rather the act of fraudsters and manipulators.TerraUSD (UST) had a built-in arbitrage mechanism between UST and the Terra blockchain native coin, LUNA. To create UST, you needed to burn LUNA.To entice traders to burn LUNA and create UST, the creators of the Terra blockchain offered a 19.5% yield on staking, which is crypto terminology for earning 19.5% interest on a deposit, through what they called the Anchor protocol.Such a high interest rate is simply not sustainable. Someone has to borrow at such a rate or above for the lender to receive 19.5% interest. This is how banks make their profit — they charge high interest on borrowing (such as mortgages or loans) and provide low interest on savings (such as a traditional savings account or a certificate of deposit account). Analysis of the Anchor protocol in January 2022 showed it was at a loss.One of the allegations in the lawsuits against Terraform Labs’ founders is that the Anchor protocol was a Ponzi scheme.In March 2025, Galaxy Digital reached a $200-million settlement with the New York Attorney General over claims the crypto investing company promoted the LUNA digital asset without disclosing its interest in the token.In January 2025, Do Kwon, founder of Terra, was found liable for securities fraud and is facing multiple charges in the US, including fraud, wire fraud and commodities fraud. If regulators are interested in preventing future cases like Terra, they should focus on how to deter fraudsters and manipulators from issuing or engaging with stablecoins.Decentralization: Rekindling the premise of BitcoinMost stablecoins are centralized assets collateralized. They are controlled by a company that could conduct unauthorized use of customers’ funds or falsely claim that reserves fully back a stablecoin.To prevent companies’ misconduct, regulators should closely monitor these companies and set rules similar to securities laws. Centralized stablecoins run counter to the notion of blockchain and the premise of Bitcoin. When Bitcoin was launched, it was supposed to be a payment platform free of intermediaries, not controlled by any company, bank or government — a decentralized mechanism — run by the people for the people.If a stablecoin is centralized, it should follow the regulations of any other centralized asset.Maybe it’s time to rekindle the premise of Bitcoin but in a more “stable” fashion. Developing an algorithmic, decentralized stablecoin that is free of any control of a company, bank or government and reviving the core notion of blockchain.Opinion by: Merav Ozair, PhD.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published Date: 2025-05-02 09:00:00Creator: Cointelegraph by Dr. Merav Ozair
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Artificial general intelligence (AGI): Can it really think like a human?
What is AGI? When the lines blur between man and machine, you’re looking at artificial general intelligence (AGI). Unlike its counterpart, artificial narrow intelligence (ANI), which is the use of AI for solving individual problem statements, AGI represents artificial intelligence that can understand, learn and apply knowledge in a way that is indistinguishable from human cognition.AGI is still theoretical, but the prospect of artificial intelligence being able to holistically replace human input and judgment has naturally attracted plenty of interest, with researchers, technologists and academics alike seeking to bring the concept of AGI to reality. Yet another strand of prevailing research seeks to explore the feasibility and implications of AGI vs. ANI in a world increasingly shaped by AI capabilities. Indeed, while ANI has already transformed various industries, AGI’s potential goes far beyond. Imagine a world where machines can not only assist humans in their tasks but also proactively understand the drivers behind specific tasks, predict outcomes, and autonomously create innovative solutions to achieve optimal results. This paradigm shift could revolutionize healthcare, education, transportation and countless other fields. Why is AGI so powerful? Unlike ANI, AGI is not confined to pre-programmed tasks or predefined responses within a limited domain. Instead, it has the potential to generate and apply knowledge across various contexts.Imagine a self-driving car powered by AGI. It can collect a passenger from a train station but also personalize the journey with custom recommendations for pit stops, sightseeing avenues or navigating unfamiliar roads to arrive at the desired destination. And because it’s a machine, AGI would not experience fatigue and would continue learning and improving at exponential speeds. Here’s a definition of AGI by Vitalik Buterin, who highlights the sheer potential of AGI:The example highlights some interesting features of AGI, which include:Learning capability: AGI can learn from experiences and improve its performance over time without a concerted effort by human programmers to perform additional data set training. This learning is not limited to specific tasks and instead encompasses a broad spectrum of activities.Problem-solving skills: AGI can solve complex problems by applying logical reasoning just as a human would. This includes consideration of non-traditional variables, such as emotional impact, which can highlight an even wider range of potential outcomes.Adaptability: AGI can adjust to new situations and environments without explicit programming, which means it can thrive in dynamic and unpredictable settings.Understanding and interpretation: AGI is equipped to comprehend natural language, abstract concepts and emotional nuance, allowing for sophisticated human-machine interactions.Did you know? Blockchain timestamps could serve as a legal memory for AGI systems, allowing future audits to determine exactly what an AGI knew — and when. The pursuit of AGI: Where does it stand as of April 2025? AGI is currently the science-fiction version of AI. However, while still theoretical, the sheer potential of the concept makes AGI the science fiction equivalent of artificial intelligence. While existing models, such as ChatGPT, are constantly evolving and improving with each day, the journey to bringing AGI to life involves overcoming significant technical challenges, such as:Defining the tech stack: The purely hypothetical nature of AGI makes it exceedingly difficult, if not altogether impossible, to determine the precise nature of the technological stack required for practical implementation.Neural networks: Advances in deep learning have propelled this field forward, but AGI would also require specialist neural networks that mimic the human brain’s structure to process information and introduce a layer of emotion and nuance.Natural language processing (NLP): Significant advances are required in the field of NLP to enable machines to better understand and generate human language, incorporating nuance, emotion and complexities. This includes a more complex analysis of language syntax, semantics and context, which is still evolving in traditional machine learning models that leverage NLP. Reinforcement learning: Using reward-based mechanisms to teach machines to make decisions would allow AGI to learn optimal behaviors through trial and error.Despite advancements, creating AGI that can truly think like a human remains an elusive goal.Did you know? DeepMind warns that not all AI risks come from the machines themselves — some start with humans misusing them. In its paper titled ‘An Approach to Technical AGI Safety and Security’, DeepMind identifies four key threats: misuse (bad actors using AI for harm), misalignment (AI knowingly going against its developer’s intent), mistakes (AI causes harm without realizing it), and structural risks (failures that emerge from complex interactions between people, organizations, or systems). Can AGI think like a human? The question of whether AGI can think like a human delves into the very core of human cognition. Human thinking is characterized by consciousness, emotional depth, creativity and subjectivity. While AGI can simulate certain aspects of human thought, replicating the full spectrum of human cognition is a formidable challenge.Several dimensions of human cognition are particularly difficult to emulate:Consciousness and self-awareness: One of the defining traits of human thinking is consciousness, the awareness of oneself and one’s surroundings. AGI, as sophisticated as it may become, lacks the intrinsic human ability to introspect. AGI operates on an underlying set of algorithms and complex, learned patterns, without any subjectivity or genuine emotion.Emotional intelligence: Humans experience a wide range of emotions that influence their decisions, behaviors and interactions. While AGI can be trained to recognize and respond to such emotions, the lack of genuine emotional experience means that it cannot wholly replicate these emotions. Emotional intelligence in humans involves empathy, compassion and moral considerations, elements that are challenging to encode into machines.Creativity and innovation: Creativity involves generating novel ideas and solutions, often through intuitive leaps and imaginative thinking. AGI can mimic creativity by combining existing knowledge in new ways, but it lacks the intrinsic motivation and subjective insight that drive human innovation. True creativity stems from emotional experiences, personal reflections and cultural contexts, which AGI cannot authentically replicate. Key benefits of AGI The litmus test for AGI lies in its ability to holistically replicate a human experience. When realized, the potential benefits are enormous and stretch across various industries, spawning various aspects of daily life.Despite its limitations, AGI is increasingly viewed as a force for good across a range of industries, including:Healthcare: AGI can assist in diagnosing diseases, developing personalized treatment plans and predicting customized health outcomes, leveraging a vast body of underlying training data.Education: It can provide customized learning experiences, tutoring and academic research support. AGI can adapt to individual learning styles and pace, enhancing educational outcomes.Economics: It can optimize financial models, predict market trends, and enhance productivity. It can analyze economic data to forecast market trends and guide investment decisions.Environmental Science: AGI can analyze climate data, model ecological impacts, and propose sustainable solutions.Additionally, AGI’s potential extends to areas such as transportation, communication and entertainment, offering new frontiers for innovation.Did you know? Some futurists believe AGI systems could eventually negotiate with each other autonomously using blockchain-based smart contracts — forming agreements, trading data or even co-developing solutions without human intervention. Ethical and societal considerations The rise of AGI raises significant ethical and societal questions. While powerful, AGI requires careful consideration for safe usage, which has prompted the creation of nonprofit societies, such as the AGI Society, as shown in the image below.Fundamentally, it is crucial to address concerns such as:Safety: Ensuring AGI operates within safe and controlled parameters to prevent unintended consequences. This includes robust testing and the introduction of regulatory frameworks to oversee AGI deployment.Privacy: Protecting personal data from misuse by AGI systems. As AGI can process vast amounts of data, safeguarding privacy is paramount.Bias and fairness: Preventing discriminatory practices and ensuring equitable access to AGI benefits. Developers must ensure that AGI systems are free from biases that could lead to unfair treatment.Employment: Addressing the impact of AGI on job displacement and workforce dynamics. As AGI automates tasks, there is a need to consider its impact on employment and provide support for affected workers.The integration of AGI into society requires a thoughtful approach to its governance, ensuring that it serves the common good and respects social values. Can blockchain power AGI? AGI could create computers as smart as humans, revolutionizing fields like cryptocurrency trading or market analysis. But AGI needs trust and fairness to work for everyone. Blockchain, the tech behind Bitcoin and Ethereum, offers a secure, transparent way to make this happen. Here’s how blockchain can supercharge AGI with crypto-inspired solutions:Clear training records: Blockchain works like Bitcoin’s open transaction log, recording every piece of data (e.g., crypto trading patterns) used to train AGI. This helps ensure the system is fair and free from hidden biases.Shared decision-making: Similar to Ethereum’s smart contracts, blockchain will allow developers, traders and users to vote on AGI’s rules, ensuring no single company controls it.Safe data sharing: Like crypto wallets safeguarding funds, blockchain could protect sensitive data from crypto exchanges, allowing secure sharing for AGI training without leaks.Rewards for fairness: Developers who build unbiased AGI, such as accurate trading predictors, could earn digital tokens, just like crypto mining rewards, encouraging ethical work.However, ongoing challenges such as blockchain’s slow speed, delays in crypto transactions and limited storage capacity could make it hard for AGI to process data quickly or handle large datasets.To make blockchain AGI-ready, researchers are already exploring:Offchain storage: Decentralized systems like InterPlanetary File System (IPFS) are used to store large files offchain, while the blockchain keeps only verifiable hashes, reducing congestion.Sharding and danksharding: Like Ethereum’s scalability upgrades, sharding splits data across multiple nodes, allowing AGI to process more information without slowing down the network. Also, danksharding, an advanced form of sharding being developed for Ethereum, combines rollups and data availability sampling to scale data access efficiently — ideal for real-time AGI applications.Data pruning: Advanced blockchain models like Decentralized Artificial Intelligent Blockchain-based Computing Network (DAIBCN) prune old or irrelevant data, keeping the system lean and optimized for high-demand tasks like AGI. DAIBCN also enables secure, distributed AI computing — blending blockchain trust with AI performance. The future of AGI Artificial general intelligence represents the pinnacle of AI development, promising capabilities that rival human intellect. While AGI can simulate aspects of human thinking, achieving true human-like cognition remains a distant goal. Consciousness, emotional depth and creativity are intrinsic to human experience and pose significant challenges for AGI. Nevertheless, the pursuit of AGI continues to drive innovation and reshape our understanding of intelligence. As we advance toward this frontier, it is imperative to navigate ethical considerations and societal impacts to responsibly harness AGI’s potential.Ongoing research, identifying practical opportunities and technical requirements, and initiating dialogue across society are all essential steps to address the challenges and opportunities posed by AGI. The future of AGI holds promise, but it requires a balanced approach to ensure that its eventual integration into society enhances human well-being and respects ethical standards.
Published Date: 2025-05-02 07:33:00Creator: Cointelegraph by Jules Winnfield
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Crypto in ‘gamble mindset’ as memecoin mentions hit YTD high: Santiment
Online discussions about memecoins have hit a year-to-date high, gaining considerable attention after sentiment cooled earlier in the year, according to onchain analytics platform Santiment. Two weeks ago, discussions around Bitcoin (BTC) and layer-1 protocols peaked during the market volatility brought on by the Trump administration’s sweeping tariffs. However, that’s since shifted to high market cap memecoins, Santiment marketing director Brian Quinlivan said in a May 1 blog post.“Online discussions about these high-risk tokens have proliferated as traders embrace a gamble mindset, rather than a calculated investment approach,” he said.“This is a telltale sign that traders are increasingly investing based solely on speculation and short-term gains,” Quinlivan added.Online discussions about memecoins have hit a 2025 high, surpassing discussions about Bitcoin. Source: SantimentQuinlivan said the overall crypto market rose 10% in the past eight days, but Bitcoin only gained 7%, which indicates traders are flocking to more speculative assets.“Any time Bitcoin leads an initial rally and then begins to move sideways, investors generally start taking bigger risks in hopes of scoring even higher returns through more speculative and riskier purchases,” he said.Dogecoin discussions spike on ETF newsIn particular, Dogecoin (DOGE) has seen a notable spike in positive crowd sentiment after a major decline in crowd interest during April, as various applications for DOGE exchange-traded funds were filed in the US.Despite the Securities and Exchange Commission delaying its decision on these filings until mid-June, Quinlivan says traders are in a state of cautious anticipation.“Until late April, DOGE had been on a major decline in terms of crowd interest. But its social dominance has spiked to its highest level in nearly three months, as the conversations and filings surrounding Nasdaq’s ETF listings have risen,” he said.Dogecoin has seen a notable spike in positive crowd sentiment. Source: SantimentDefiLlama data shows PumpSwap, the decentralized exchange of the memecoin launch platform Pump.Fun saw a spike to $11 billion in monthly trading volume during April after recording only $1.7 billion in March.Related: Crypto token failures soar, with 1 in 4 launched since 2021 dying in Q1: CoinGeckoMeanwhile, Pump.Fun’s monthly trading volume rose to $3.3 billion in April, up from $2.5 billion in March.Memecoin activity exploded after the launch of US President Donald Trump’s memecoin on Jan. 18, with Pump.fun usage recording a high of $3.3 billion in weekly trading volume.However, traders soon cooled on memecoins. CoinGecko founder Bobby Ong said in a March 6 report that memecoin investor interest dropped after a series of bad launches, noting the fallout from the Libra (LIBRA) token launch in February as a significant catalyst. Magazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express
Published Date: 2025-05-02 05:57:38Creator: Cointelegraph by Stephen Katte
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Riot Platforms posts Q1 loss, beats revenue estimates
Bitcoin miner Riot Platforms reported its highest-ever quarterly revenue, but still posted a loss as mining costs have nearly doubled compared to the same period last year amid efforts to expand its facilities.“We achieved a new record for quarterly revenue this quarter, at $161.4 million,” Riot CEO Jason Les said in a May 1 report for its first quarter 2025 earnings. The company just surpassed Wall Street estimates of $159.79 million by 1%.Riot’s Q1 revenue was a 50% jump compared to the same quarter a year ago.Riot blames “halving event” for expensesThe firm reported a net loss of $296,367 over Q1, a 240% decrease from the $211,777 net income it posted in the year-ago quarter.Riot said that the average cost to mine Bitcoin (BTC) over the quarter was $43,808, almost 90% more than the $23,034 it cost to mine Bitcoin in the same period last year.“The increase was primarily driven by the block subsidy ‘halving’ event, which occurred in April 2024, and a 41% increase in the average global network hashrate as compared to the same period in 2024,” Riot said.Shares in Riot Platforms (RIOT) closed May 1 trading up 7.32%, trading at $7.77, according to Google Finance.Riot Platforms is down 13.47% over the past six months. Source: Google FinanceMeanwhile, Riot produced 166 more Bitcoin during the quarter than it did over the same period in 2024. At the time of publication, with Bitcoin trading at $97,072, that equates to approximately $16.13 million.Related: Bitcoin miner Phoenix Group adds 52 MW of mining capacity in EthiopiaRiot currently holds 19,223 unencumbered Bitcoin, worth approximately $1.86 billion at the time of publication.On April 23, Riot announced that it had used its massive Bitcoin stockpile as collateral to secure a $100 million credit facility from Coinbase as the cryptocurrency miner eyes continued expansion. Les said the $100 million loan from Coinbase’s credit arm marked Riot’s “first Bitcoin-backed facility.”Magazine: Japanese porn star’s coin red flags, Alibaba-linked L2 runs at 100K TPS: Asia ExpressThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-05-02 05:29:36Creator: Cointelegraph by Ciaran Lyons
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US Treasury wants to cut off Huione over ties to crypto crime
The US Treasury Department is seeking to bar the Cambodia-based Huione Group from accessing the American banking system, accusing the company of helping North Korea’s state-sponsored Lazarus Group launder cryptocurrency.The Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed on May 1 to prohibit US financial institutions from opening or maintaining correspondent or payable-through accounts for or on behalf of the Huione Group.Huione Group has established itself as the “marketplace of choice for malicious cyber actors” like the Lazarus Group, who have “stolen billions of dollars from everyday Americans,” US Treasury Secretary Scott Bessent said in a May 1 statement.“Today’s proposed action will sever Huione Group’s access to correspondent banking, degrading these groups’ ability to launder their ill-gotten gains.”Huione Group has set up a network of businesses, which includes payment service platform Huione Pay PLC, the crypto exchange Huione Crypto, and Haowang Guarantee, an online marketplace offering illicit goods and services.Although the conglomerate does not hold correspondent accounts with US financial institutions, it maintains accounts with foreign firms that do, FinCEN noted in its rulemaking submission.The proposed rule is subject to a 30-day public comment period before it can take effect.Source: ChainalysisHuione expanded into sophisticated cybercrime networkFinCEN claimed that Huione Group has laundered at least $4 billion worth of illicit proceeds between August 2021 and January 2025, including more than $36 million from crypto pig butchering scams.At least $37 million worth of the crypto laundered has been linked to North Korea’s “cyber heists,” the Treasury said.Haowang Guarantee has made Huione Group a “one-stop shop” for criminals to launder crypto obtained through illicit activities, and ultimately convert it to fiat currency, the Treasury said.Related: North Korean crypto attacks rising in sophistication, actors — ParadigmThe conglomerate has also created a US dollar-pegged stablecoin, the US dollar Huione (USDH), which FinCEN said cannot be frozen and helps to carry out money laundering activities.The National Bank of Cambodia has stated that payment firms aren’t allowed to deal or trade digital assets in the country and revoked the company’s local banking license in March.Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
Published Date: 2025-05-02 04:39:43Creator: Cointelegraph by Brayden Lindrea
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Kraken details how it spotted North Korean hacker in job interview
US crypto exchange Kraken has detailed a North Korean hacker’s attempt to infiltrate the organization by applying for a job interview.“What started as a routine hiring process for an engineering role quickly turned into an intelligence-gathering operation,” the company wrote in a May 1 blog post.Kraken said the applicant’s red flags appeared early on in the process when they joined an interview under a name different from what they applied with and “occasionally switched between voices,” apparently being guided through the interview.Rather than immediately rejecting the applicant, Kraken decided to advance them through its hiring process to gather information about the tactics used.International sanctions have effectively cut North Korea off from the rest of the world, and the country’s ruling Kim family dictatorship has long targeted crypto companies and users to top up the country’s coffers. It’s stolen billions worth of crypto so far this year.Kraken reported that industry partners had tipped them off that North Korean actors were actively applying for jobs at crypto companies. “We received a list of email addresses linked to the hacker group, and one of them matched the email the candidate used to apply to Kraken,” it said. With this information, the firm’s security team uncovered a network of fake identities used by the hacker to apply to multiple companies. Kraken also noted technical inconsistencies, which included the use of remote Mac desktops through VPNs and altered identification documents.Kraken CSO @c7five recently spoke to @CBSNews about how a North Korean operative unsuccessfully attempted to get a job at Kraken. Don’t trust. Verify 👇 pic.twitter.com/1vVo3perH2— Kraken Exchange (@krakenfx) May 1, 2025The applicant’s resume was linked to a GitHub profile containing an email address exposed in a past data breach, and the exchange said the candidate’s primary form of ID “appeared to be altered, likely using details stolen in an identity theft case two years prior.”During final interviews, Kraken chief security officer Nick Percoco conducted trap identity verification tests that the candidate failed, confirming the deception. Related: Lazarus Group’s 2024 pause was repositioning for $1.4B Bybit hack“Don’t trust, verify. This core crypto principle is more relevant than ever in the digital age,” Peroco said. “State-sponsored attacks aren’t just a crypto or US corporate issue — they’re a global threat.”North Korea pulls off biggest-ever crypto hackNorth Korea-affiliated hacking collective Lazarus Group was responsible for February’s $1.4 billion Bybit exchange hack, the largest ever for the crypto industry.North Korean-linked hackers also stole more than $650 million through multiple crypto heists during 2024, while deploying IT workers to infiltrate blockchain and crypto companies as insider threats, according to a statement released by the US, Japan and South Korea in January. In April, a subgroup of Lazarus was found to have set up three shell companies, with two in the US, to deliver malware to unsuspecting users and scam crypto developers. Magazine: Japanese porn star’s coin red flags, Alibaba-linked L2 runs at 100K TPS: Asia Express
Published Date: 2025-05-02 02:38:29Creator: Cointelegraph by Martin Young
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Kraken finalizes NinjaTrader buy as Q1 revenue jumps 19%
Crypto exchange Kraken has completed its acquisition of the futures trading platform NinjaTrader and reported its first quarter revenues jumped 19% year-on-year to $471.7 million.Kraken said in a May 1 report that its NinjaTrader acquisition would give its US customers access to the traditional derivatives market, aligning with its plans to expand its offerings and be the go-to platform for all types of trading.NinjaTrader is a registered Futures Commission Merchant with the Commodity Futures Trading Commission. Last month, it rolled out trading for over 11,000 stocks and exchange-traded funds to certain US clients.The deal, which Kraken dubbed the largest ever between a crypto and traditional finance firm, allows NinjaTrader to expand to the UK, continental Europe and Australian markets and comes as Kraken is preparing for an initial public offering in early 2026. The company is exploring a debt package worth between $200 million and $1 billion to facilitate that transaction.Kraken revenue, trading volume falls on Trump’s returnKraken’s $471.7 million revenue in Q1 marked a 19% increase from the year-ago quarter but a 6.8% fall from Q4 2024.The exchange reported that trading volume fell 9.6% quarter-over-quarter to $208.7 billion while the value of its custodied assets fell 18% to $34.9 billion over the same time.Kraken attributed the drop to a “slowdown in overall market trading activity” as US President Donald Trump’s threats of implementing sweeping tariffs triggered an 18% fall in the crypto market cap over the quarter.Key metrics from Kraken’s Q1 report. Source: KrakenKraken is one of several crypto platforms that saw record or near-record highs in trading activity in Q4 as Trump's November election win sparked larger-than-usual market volatility.Related: Kraken rolls out ETF and stock access for US crypto tradersKraken said that despite a “softening market,” its adjusted EBITDA — earnings before interest, taxes, depreciation and amortization — jumped 1% from the previous quarter to $187.4 million.The firm also saw the number of funded accounts on its platform increase 10% quarter-on-quarter to 3.9 million, signaling “deeper client engagement.”Reuters reported on April 18 that Kraken restructured its workforce after Arjun Sethi was appointed as co-CEO last October. Sethi has laid off around 400 employees since.Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
Published Date: 2025-05-02 00:54:49Creator: Cointelegraph by Brayden Lindrea
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