Crypto News
COLDRIVER using new malware to steal from Western targets — Google
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: GoogleLOSTKEYS 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.Related: Crypto drainers now sold as easy-to-use malware at IT industry fairsCrypto hack losses hit all-time high in 2025Crypto hacks have surged in 2025, with total losses reaching $2 billion in the first quarter alone — exceeding all losses recorded in 2024. According to a report by crypto cybersecurity firm Hacken, operational flaws and weak access controls remain key vulnerabilities — even among major centralized and decentralized players. Attackers are also increasingly using social engineering tactics to gain victims’ trust.Contributing to last quarter's losses was the $1.5 billion hack of cryptocurrency exchange Bybit. The February attack was reportedly orchestrated by the Lazarus Group.Magazine: Lazarus Group’s favorite exploit revealed — Crypto hacks analysis
Published Date: 2025-05-07 18:43:36Creator: Cointelegraph by Christopher Tepedino
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Bitcoin 'Realized Cap' hits $890B as BTC traders focus on recapturing $100K
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: CryptoQuantThe 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. Recent market trends have supported this optimism. Cointelegraph reported that large Bitcoin holders have been actively accumulating Bitcoin since late March 2025. Data indicates that wallets between 10 and 10,000 BTC added 81,338 BTC over six weeks. This accumulation signals confidence in the current price uptrend and the possibility of BTC returning to $100,000.Glassnode data revealed a notable rise in Bitcoin whale addresses holding over 1,000 BTC, climbing from 1,945 on March 1 to 2,006 on May 7. This marks the most significant 30-day increase for this cohort in 2025 and the highest surge since Q1 2024, when a similar accumulation trend preceded Bitcoin's all-time high in March 2024.Bitcoin whale count balance >1K BTC. Source: GlassnodeRelated: Why is Bitcoin price up today?Can Bitcoin rally to $100,000?Bitcoin’s support zone between $93,000 and $95,000 showed resilience on May 6, with BTC bulls holding the level, supported by activity in long perpetual positions.There is downside liquidity between $91,600 and $89,000, which Bitcoin could retest if bearish momentum persists after this week’s FOMC minutes and Federal Reserve presser. However, if BTC breaks above the resistance zone of $97,000 to $99,000, the higher time frame (HTF) outlook could tilt toward bulls.Bitcoin 1-day chart. Source: Cointelegraph/TradingViewThis resistance area carries weight due to a price cluster formed in Q1, which previously led to a downward move. If BTC price clears $99,000, it might shift market dynamics, potentially pressuring short positions and adding to bullish liquidity.The $100,000 level appears to be more of a psychological marker than a significant resistance level. If BTC surpasses the $97,000-$99,000 resistance and establishes it as support, it could pave the way for a move toward $110,000, although this would depend on market conditions and momentum.Michael van de Poppe, founder of MN Capital, suggested that the dip below $94,000 and subsequent recovery may indicate a market bottom. He expressed optimism about a potential Bitcoin breakout to $100,000 within the next two weeks.On the other hand, crypto trader Honey expected a steady rise for BTC, predicting a new all-time high of $111,111 by the end of Q2. Related: Bitcoin $1B daily realized profits signal 'late-stage bull market'This 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: 2025-05-07 18:09:23Creator: Cointelegraph by Biraajmaan Tamuly
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Strive to become Bitcoin treasury company
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. In December, Strive filed to list an exchange-traded fund (ETF) investing in convertible bonds issued by MicroStrategy and other corporate Bitcoin buyers.Related: Trump-linked Strive files for ‘Bitcoin Bond’ ETFCorporate Bitcoin treasuries are increasingly popular. Source: Bitcointreasuries.netCorporate Bitcoin treasuriesCorporate Bitcoin treasuries have become popular since the approval of Bitcoin exchange-traded funds (ETFs) on Wall Street. Companies pioneering the Bitcoin buyer approach, such as Strategy have seen their share prices surge by 350% in 2024. Analysts say adding Bitcoin to corporate treasuries can “potentially be a valuable hedge against growing fiscal deficits, currency debasement, and geopolitical risks,” asset manager Fidelity Digital Assets said in a 2024 report.Corporate Bitcoin treasuries collectively hold roughly $74 billion worth of BTC as of May 7, according to Bitcointreasuries.net. Ramaswamy founded Strive in 2022. Source: StriveTrump connectionRamaswamy, an outspoken ally of President-elect Donald Trump, founded Strive in 2022. Its stated goal is to help investors “harness the power of capitalism,” according to Strive’s website. In 2023, Ramaswamy — who largely earned his $1 billion net worth from biotechnology startup Roivant Sciences — campaigned against Trump in the Republican presidential primary. He later endorsed the president-elect.Magazine: Bitcoin’s $100K push wakes taxman, Vitalik visits real Moo Deng: Asia Express
Published Date: 2025-05-07 18:00:09Creator: Cointelegraph by Alex O’Donnell
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Price predictions 5/7: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX
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.Investors have also been piling into BlackRock’s spot Bitcoin exchange-traded fund for the past 16 days, which has boosted its new capital inflows to about $4.7 billion, according to ETF Store President Nate Geraci.Bloomberg ETF analyst Eric Balchunas also suggested that the spot Bitcoin ETF “will have triple gold’s ETF assets under management in 3 to 5 years.”Crypto market data daily view. Source: Coin360According to Bitfinex data, Bitcoin must hold above $95,000 to signal a “structural shift” into bullish territory, opening the doors for a rally to an all-time high. However, if the $95,000 level cracks, the analysts expect Bitcoin to witness a deeper correction.Could Bitcoin challenge the $100,000 resistance? Are select altcoins showing signs of a short-term up move? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price predictionBitcoin rebounded off the 20-day exponential moving average ($93,091) on May 6, indicating that the sentiment remains positive and traders are buying on dips.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThere is minor resistance at $97,895, but if the level is crossed, the BTC/USDT pair could challenge the psychological resistance at $100,000. Sellers are expected to vigorously defend the level because a break above it could propel the pair to $107,000.Time is running out for the bears. If they want to make a comeback, they will have to sink and sustain the price below the 20-day EMA. If they succeed, the pair could tumble to the 50-day simple moving average ($87,441).Ether price predictionThe bears are struggling to pull Ether (ETH) below the moving averages, indicating a lack of selling at lower levels.ETH/USDT daily chart. Source: Cointelegraph/TradingViewBuyers will try to take advantage of the situation and push the price above the immediate resistance at $1,873. If they do that, the ETH/USDT pair could pick up momentum and soar toward $2,111. There is minor resistance at $1,957, but it is likely to be scaled. Sellers are likely to have other plans. They will try to tug the price below the moving averages, opening the gates for a fall to $1,537. Buyers will try to defend the $1,537 level, but if they fail in their endeavor, the pair may collapse to the vital support at $1,368.XRP price predictionXRP (XRP) fell below the moving averages on May 4, but the bears could not sink the price to the $2 support.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish moving averages and the RSI just below the midpoint suggest that the XRP/USDT pair may remain stuck between the resistance line and the $2 support for some more time.A break and close above the resistance line signals a potential trend change. The pair could then rally toward $3. Conversely, a break and close below $2 opens the gates for a collapse to the $1.72 to $1.61 support zone.BNB price predictionThe failure of the bears to sustain BNB (BNB) below the moving averages indicates demand at lower levels.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will have to try and overcome the barrier at $620 to clear the path for a rally to the strong overhead resistance at $644. Sellers will try to halt the recovery at $644, but if the bulls prevail, the next stop could be $680.This positive view will be invalidated in the near term if the BNB/USDT pair turns down and breaks below the $576 support. That heightens the risk of a fall to $520. Buyers are expected to aggressively defend the $500 to $520 zone.Solana price predictionSolana (SOL) is finding support at the moving averages, signaling a positive sentiment where dips are being purchased.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will try to strengthen their position by pushing the price above the $153 resistance. If they can pull it off, the SOL/USDT pair could climb to $180 and then to $200. That signals the pair may swing inside the large $110 to $260 range for a while.Sellers will have to drag the price below the 20-day EMA to prevent the upside. The pair could then tumble to the 50-day SMA ($133). That indicates a consolidation between $110 and $153 for a few days.Dogecoin price predictionDogecoin (DOGE) has been clinging to the moving averages, signaling a balance between supply and demand.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewIf the price closes below the moving averages, the bears will try to pull the DOGE/USDT pair to the support of the range at $0.14. The bulls will attempt to keep the pair inside the range by buying near $0.14.On the upside, buyers will have to drive and maintain the price above $0.21 to suggest a short-term trend change. The pair could rally to $0.25 and subsequently to the pattern target of $0.28.Cardano price predictionCardano (ADA) is witnessing a tough battle between the buyers and sellers near the moving averages.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price moves up from the current level, it is expected to face selling at $0.75. A break and close above $0.75 could propel the pair to $0.83.On the downside, there is solid support at $0.58. If the price rebounds off $0.58, the ADA/USDT pair could form a range. Sellers will seize control on a break below the $0.58 support. The pair may then descend to the $0.54 to $0.50 support zone.Related: Can XRP price reach $4 in May? Analysts are watching these key levelsSui price predictionSui (SUI) rebounded off the 20-day EMA ($3.14) on May 6, indicating that lower levels are attracting buyers.SUI/USDT daily chart. Source: Cointelegraph/TradingViewThere is minor resistance at $3.50, but if it is crossed, the SUI/USDT pair could ascend to $3.90. Sellers are expected to defend the $3.90 level with all their might because a break above it could propel the SUI/USDT pair to $4.25 and eventually to $5.Instead, if the price turns down and breaks below the 20-day EMA, it suggests that the bulls are rushing to the exit. The pair risks dropping to the solid support at $2.86 and then to the 50-day SMA ($2.61).Chainlink price predictionChainlink (LINK) is finding support at the 50-day SMA ($13.66), but the failure to start a strong rebound suggests the bears have kept up the pressure.LINK/USDT daily chart. Source: Cointelegraph/TradingViewIf the 50-day SMA gives way, the LINK/USDT pair could slump to $11.68. Buyers will try to defend the level, but the relief rally is likely to face selling at the moving averages. If the price turns down from the moving averages, the pair could fall to the support line of the descending channel.Contrarily, if the price turns up from the current level and maintains above the 20-day EMA ($13.99), the pair could rally toward the resistance line. Buyers will have to pierce the resistance line to signal that the downtrend could be over.Avalanche price predictionAvalanche (AVAX) has slipped below the 50-day SMA ($19.90), indicating that the range-bound action could continue for a few more days. AVAX/USDT daily chart. Source: Cointelegraph/TradingViewIf the price skids below $18.50, the AVAX/USDT pair could drop to the support of the range at $15.27. Buyers are expected to aggressively defend the $15.27 level, as a break below it may resume the downtrend.Alternatively, a bounce off the current level suggests the bulls are trying to keep the pair inside the upper half of the range. Buyers will have to drive the price above $23.50 to start an up move to $28.78 and then to the pattern target of $31.73.This 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: 2025-05-07 17:06:37Creator: Cointelegraph by Rakesh Upadhyay
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Bybit recovers liquidity levels 30 days after hack — Kaiko
The Bybit exchange has recovered its liquidity to pre-hack levels just 30 days following the February 2025 attack that drained nearly $1.5 billion in funds.According to a report from crypto research and analytics firm Kaiko, Bitcoin's (BTC) 1% market depth, a measure of liquidity, returned to pre-hack levels of around $13 million per day in March 2025.Bitcoin liquidity on Bybit exchange rebounds to pre-hack levels. Source: KaikoAltcoin liquidity levels on the exchange have been slower to recover than Bitcoin but have rebounded to around 80% of the pre-hack levels. The authors of the Kaiko report added:"This lag is largely due to the risk-off market environment, which has impacted altcoins more severely. While Bitcoin is still seen as a risky asset, it remains the crypto market’s safe haven."Overall, the exchange's trading volumes remain in recovery; however, the report notes that this drop reflects the broader market trend in response to the ongoing macroeconomic uncertainty that has rattled risk asset markets and is not an effect of the biggest hack in crypto history.Altcoin liquidity on the platform has been slower to recover than Bitcoin liquidity. Source: KaikoRelated: Hacken CEO sees ‘no shift’ in crypto security as April hacks hit $357MBybit's incident responseThe Bybit exchange was hacked by cybercriminals on February 21, 2025, resulting in $1.5 billion in stolen funds. A post-mortem update revealed a compromised device from a SafeWallet developer, the firm responsible for the multi-signature wallet custody solution used by the exchange, as the cause of the hack.Bybit kept withdrawals open during the incident, allowing users to access and pull their funds with little delay during the crisis.A condensed timeline of events of the February 2025 Bybit hack. Source: KaikoBen Zhou, the CEO of Bybit, reassured investors that the exchange was solvent and said that the company's reserves could cover the shortfall whether or not the stolen funds were ever recovered.Zhou's response united the crypto industry behind Bybit, with many competitors providing bridge loans to the exchange, technical assistance, and freezing the stolen funds on their protocols.Magazine: Deposit risk: What do crypto exchanges really do with your money?
Published Date: 2025-05-07 16:50:00Creator: Cointelegraph by Vince Quill
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Trump memecoin dinner attendees could include foreign nationals — Report
At least some of the top holders of Donald Trump’s memecoin who apply to attend a private dinner with the president could be based outside the United States.According to a May 7 Bloomberg report based on an analysis of the top TRUMP tokenholders, 19 of the top 25 wallets on the leaderboard used foreign exchanges that exclude US-based customers, suggesting either foreign nationals or Americans living abroad. In addition, more than half of the top 220 holders — the group eligible to apply for a dinner with the president — also used exchanges in other countries.Top 10 TRUMP memecoin holders as of May. 7. Source: Trump memeAs of May 7, the identities of the top tokenholders and those who might choose to apply for the May 22 Trump dinner and “special VIP tour” were unknown. However, the project stated that anyone who applied could not bring guests, had to pass a background check, and “can not be from a [Know Your Customer] watchlist country.” The implications of having dozens or hundreds of memecoin holders potentially tied to foreign governments and interest groups have raised ethics concerns from some US lawmakers, claiming that Trump was engaging in “pay-to-play” corruption. At least one senator has called for the president’s impeachment, saying Trump was “selling access for what are effectively payments directly to him.”Memecoin concerns are slowing crypto legislationDemocratic lawmakers in the House of Representatives and Senate have already been pushing back against considering any crypto-related legislation until Republicans address concerns around “Trump’s crypto corruption.” The Senate is expected to vote on a bill regulating stablecoins on May 8, and House Republicans recently introduced a discussion draft of a digital asset market structure bill.Related: Trump-backed USD1 is now the seventh-largest stablecoin worldwideThen-president-elect Trump launched the memecoin on Jan. 17 — three days before taking office — followed by the first lady introducing her own token. Two companies connected to Trump control roughly 80% of the memecoin’s supply.The launch of the memecoin and its potential influence over the president and his agenda has already prompted some companies to get on board. On April 30, a trucking logistics management company announced a $20 million investment in the TRUMP token, suggesting influencing Trump’s trade war between the US and Mexico, where the firm conducts much of its business. Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
Published Date: 2025-05-07 16:14:30Creator: Cointelegraph by Turner Wright
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Bitcoin $1B daily realized profits signal 'late-stage bull market'
Key points:Bitcoin investors are making the most of the highest price levels in several months by cashing out profits.These are averaging $1 billion per day, leading to concerns that the market comeback may stall or even reverse.Institutional participation has not led to a change in mindset, CryptoQuant says.Bitcoin (BTC) risks a “local top or sharp correction” if current levels of profit-taking continue, new research warns.In a “Quicktake” blog post on May 8, onchain analytics platform CryptoQuant flagged elevated realized profits among BTC investors.BTC profit-taking spikes to January highsBitcoin realized profits have spiked to multimonth highs this week as BTC/USD reached close to $98,000.For CryptoQuant, the market is becoming comparable to late 2024, when the pair broke through old all-time highs and hit $100,000 for the first time.“Even after positive price action after March-April drop in 2025, profit taking is still aggressive. Maybe not like November-December 2024 but still high,” contributor Kripto Mevsimi wrote.“This is historically consistent with late-stage bull market behavior — where profit-taking dominates, even as price continues to rise.”Bitcoin net realized profit and loss. Source: CryptoQuantCryptoQuant data puts the current 7-day moving average realized profit across the hodler spectrum at approximately $1 billion per day.“If we look back at similar cycles (e.g. 2021), this phase often preceded a local top or sharp correction, especially when profit-taking stayed high and continuous,” it continued.No hiding from Bitcoin “investor psychology”As Cointelegraph reported, some market commentators have argued that the Bitcoin investment landscape has fundamentally changed thanks to increased institutional participation.Related: Bitcoin pushes for $98K as 2025 Fed rate cut odds flip 'pessimistic'Chief among the new players are the US spot Bitcoin exchange-traded funds (ETFs), the largest of which, BlackRock’s iShares Bitcoin Trust (IBIT), has seen net inflows every day for more than two weeks.Despite this, Kripto Mevsimi contends that underlying reactions to BTC price changes remain the same.“Since spot ETFs launched in January 2024, market structure has changed — but investor psychology hasn’t,” he summarized.Source: Farside InvestorsThis 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: 2025-05-07 15:52:16Creator: Cointelegraph by William Suberg
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SocialFi has failed to take off — Here's what needs to change
Opinion by: Anurag Arjun, co-founder of Avail On paper, SocialFi is a no-brainer. It promises to shift the balance of power in social media — giving people control over how their content and personal data are used and monetized. It even offers users a stake in the $200+ billion social media advertising market, a pie currently devoured almost entirely by giants like Meta.And yet, SocialFi platforms today feel more like digital ghost towns than the bustling hubs of Web2. Friend.tech, hailed as a breakout star in 2023, peaked at just 80,000 daily active users before falling below 10,000. What's holding SocialFi back? Why does it seem to be following Friend.tech's fade into obscurity rather than rising to rival Facebook's dominance?The harsh reality is that decentralized social networks have largely failed to attract and retain mainstream users despite genuine enthusiasm from Web3 communities. The fundamental promise of user ownership, data portability, and monetization remains compelling — but deep structural issues bottleneck adoption.The technical hurdlesBlockchain infrastructure was never designed for the high-throughput, low-latency demands of social networking. Social media users expect instant results when posting pictures, liking comments, or following new accounts — actions that generate hundreds of millions of transactions daily across platforms like Instagram, TikTok and X.Consider this: Ethereum handles just 15-20 transactions per second (TPS). Even Solana — often touted as a high-performance chain — with ~5,000 TPS falls short. Compare that to TikTok's 25 million daily video uploads or X's 500 million daily posts. Adoption becomes impossible when users face 30-second confirmation delays to comment on a post or volatile gas fees ranging from 10 US cents to $50 during network congestion.Web2's hard-won lessons Meta spends $35 billion annually on research and development to refine its platforms' addictive simplicity. TikTok's algorithm, honed through 1 billion hours of daily user engagement, delivers content so frictionless that 47% of users open the app immediately upon waking. The result? Interfaces where the tech disappears behind the experience.By contrast, most SocialFi platforms confront new users with wallet popups, crypto slang, and variable fees. For mainstream users, it's confusing and intimidating. A 2023 DappRadar study found that 92% of SocialFi users abandon platforms within 30 days. Until SocialFi applications can match the frictionless experience of their Web2 counterparts while delivering unique advantages, adoption will remain limited to crypto natives.The fragmentation problemWeb3's multichain world has splintered SocialFi into silos. Lens Protocol's social graph doesn't integrate with Farcaster. Friend.tech's monetization tools don't port over to DeSo. The result? A fractured experience with no network effects.Recent: Avara’s Lens secures $31M for SocialFi-focused L2 blockchainConsider if Gmail users had to pay to email someone on Outlook — and couldn't bring their contacts or messages with them. That's today's SocialFi reality.To solve this, decentralized identity systems like ENS and emerging standards like EAS must power portable, composable social graphs. A user's content, followers, and reputation should travel with them — benefiting the broader ecosystem, not just one app.Purpose-built infrastructureThe solution to SocialFi's adoption challenges isn't incremental improvements to existing models but purpose-built infrastructure explicitly designed for social applications. Just as horizontal scaling revolutionized Web2 infrastructure, modular blockchain architecture that separates concerns like data availability, execution, and settlement creates the foundation for social applications that can scale to billions of users.The shift is already underway. Farcaster moved from Ethereum mainnet to Optimism's layer 2 stack, prioritizing low-cost social interactions. Lens Protocol is migrating to ZKsync, using zero-knowledge proofs to scale while preserving user privacy. CyberConnect launched Cyber, its own L1 chain optimized for social applications, which now supports faster, cheaper interactions with an embedded social graph.These purpose-built stacks mirror how Web2 scaled — separating data, execution, and storage to handle exponential growth. Web3's version is modular architecture: rollups for performance, decentralized storage for media, and identity layers like ENS or Lit Protocol.User-centric social networkingWhen built on the proper foundation, SocialFi can finally deliver on its core promise: putting users back at the center of the social networking experience. This means true ownership of identity and content, portable social graphs that work across applications, and fair value distribution to the people who create and curate content.The opportunity extends well beyond fixing what's broken in Web2 social media. True ownership enables creators to retain control and port audiences across platforms. Programmable money allows TikTok-esque viral trends to include instant revenue splits — imagine a dance challenge where 10% of ad revenue auto-splits among creators.Combining programmable money with social connections, new interaction models become possible — from seamless tipping for quality content to automated revenue sharing for collaborative creation.SocialFi's early iterations have failed to gain meaningful traction beyond crypto enthusiasts. If we finally address the fundamental technical and user experience barriers, Web3 Social can deliver a disproportionate advantage over established platforms only Web3 can offer.Opinion by: Anurag Arjun, co-founder of Avail. 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: 2025-05-07 15:00:00Creator: Cointelegraph by Anurag Arjun
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Safeheron introduces open-source Intel SGX TEE framework for Web3 security
Safeheron, a digital asset infrastructure provider based in Singapore, has introduced an open-source Trusted Execution Environment (TEE) framework. This solution could bolster security and privacy for Web3 in sectors like decentralized finance (DeFi), payment services, and decentralized autonomous organizations.The TEE framework is the first built upon the native Intel SGX SDK and developed using modern C++, a general-purpose object-oriented programming language often used for operating systems, game development, and high-powered computing.Safeheron decided to open-source the framework because the company had seen growing concerns across the industry about closed, opaque systems, especially as security incidents have become more widespread.Related: Fully onchain AI agents can be the key to a more open AI future — Here’s why“We’re not threatened by competitors,” Safeheron CEO Wade Wang told Cointelegraph. “What worries us is slow innovation due to closed systems.”A critical technology for protecting code and data, Trusted Execution Environments create secure, isolated spaces within CPUs. These spaces are traditionally called “enclaves.” In these spaces, programs can run while protected from external attacks, including those coming from within the hardware.Some sectors of Web3 that employ TEEs include privacy-focused blockchains, oracles, DeFi, payments services, and exchanges. Oasis Network, Secret Network, and Phala Network are known for using TEEs. Other companies, such as Chainlink, are suspected of using TEEs.Safeheron's new TEE framework allows clients to use cloud services to create enclaves. Any cloud service, including those that are public, that supports Intel SGX servers will do.Safeheron has provided services over 100 clients, primarily payment providers, OTC desks, trading firms, and wallet service providers. Its clients include MetaMask, Doo Group, and Amber Group. According to the company, its cumulative transfer volume recently surpassed $100 billion.In August 2022, Safeheron raised $7 million in pre-Series A funding. The capital was allocated to research, development, and expanding the company’s business team.Related: Here’s how ‘confidential AI’ with blockchain and TEEs protects data privacyButerin proposes TEE for Ethereum privacyIn an April 11 roadmap, Ethereum co-founder Vitalik Buterin proposed adding a TEE to the Ethereum ecosystem to enhance user privacy. The TEE would be a short-term solution allowing “users to interact with RPC nodes while getting stronger assurances that their private data is not being collected.” He also called for the addition of privacy-protecting tools to Ether (ETH) wallets. TEEs could help here as well by protecting private wallet keys. Announced at the time of its fundraise, Safeheron secured MetaMask as a client in August 2022.Another area in crypto where TEEs can help is Succinct Non-Interactive Arguments of Knowledge, or SNARKs. An August 2024 study by Imperial College London found that vulnerabilities in the circuit layer pose significant threats to these systems. TEEs could guard against any attacks coming from within the system.Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race
Published Date: 2025-05-07 14:43:02Creator: Cointelegraph by Christopher Tepedino
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Can XRP price reach $4 in May? Analysts are watching these key levels
Key takeaways:XRP price is up 2% on May 7, buoyed by US-China trade talk optimism, with key support at $2.08 critical for sustained recovery.Whale accumulation signals XRP price strength.XRP price must hold above $1.83–$2.00 support to continue upside, analysts say.XRP (XRP) price displayed strength on May 7, rising 2% over the last 24 hours after news of possible US-China trade talks flipped investor sentiment. XRP price remains above $2.00 at the time of writing, as several analysts highlight the key support levels the asset should hold for a sustainable recovery to new all-time highs.Whale accumulation supports bullish XRP viewCertain indicators show that XRP’s ongoing price rise may not be just a short-term reaction to the positive macroeconomic news. For instance, Santiment's Supply Distribution metric shows a steady rise in the supply held by entities with a 1 million –10 million token balance. These addresses now own 9.44% of the total XRP supply, a 1.2% increase since Jan. 1. Percentage of addresses holding between 1M and 100M XRP. Source: SantimentThis suggests that whales did not sell on the recent drop to $1.60 but accumulated XRP, suggesting most are positioning themselves for further gains.By purchasing during downturns, these large entities can reduce selling pressure and create a floor for the price, encouraging smaller retail investors to follow suit. Meanwhile, XRP open interest (OI) has seen a modest 0.32% rise to $3.65 billion over the last day, signaling a slight increase in trader confidence and liquidity. However, the 17% drop in trading volume to $3.9 billion is a cause for concern, suggesting low conviction as traders wait for the XRP price to establish a clear directional bias.XRP derivatives data. Source: CoinGlassXRP price to $4 all-time highs?Traders believe XRP can revisit its seven-year highs above $3.40 and beyond, but its potential to continue its gains depends on holding above key support levels. Data from Cointelegraph Markets Pro and TradingView shows that XRP price bounced off the 200-day SMA at $2.08 on May 6, rising as much as 4.5% to today’s intraday high of $2.17, which is also the 50-day SMA.Related: Why is XRP price down today?The 200-day SMA coincides with the election volume-weighted average price (VWAP) and the monthly rVWAP, as shown in the chart below.“This is an area that we want to see continue to get defended,” said trader and analyst Dom in a May 6 post on X, adding that failure to hold above this level could see XRP drop toward $1.90.“To see an immediate trend reversal, we need to see the price regain $2.12.”XRP/USD daily chart. Source: Cointelegraph/TradingViewFellow analyst Egrag Crypto said XRP price “should not and cannot close below $1.83.”Meanwhile, pseudonymous analyst XForceGlobal believes “XRP is still well within bullish territory” as long as it stays above the multimonth low at $1.60 reached on April 7.“New all-time highs look imminent.”XRP/USD four-hour chart. Source: XForceGlobalThis 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: 2025-05-07 14:39:08Creator: Cointelegraph by Nancy Lubale
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