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8 May 2026, 21:45
Bithumb to Halt Ronin (RON) Deposits and Withdrawals on May 11 for Network Upgrade
BitcoinWorld Bithumb to Halt Ronin (RON) Deposits and Withdrawals on May 11 for Network Upgrade South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for Ronin (RON) tokens, effective May 11. The halt is scheduled to begin at 9:00 a.m. UTC to facilitate a planned network upgrade and migration from the existing Ronin blockchain to Ronin L2. Details of the Suspension According to the official announcement from Bithumb, the suspension will impact all RON-related transactions on the platform. The upgrade aims to transition the network from its current iteration to Ronin L2, a layer-2 scaling solution designed to improve transaction throughput and reduce costs. Users are advised to complete any pending RON deposits or withdrawals before the cutoff time to avoid potential delays. Implications for Users During the suspension period, RON trading on Bithumb may continue, but users will not be able to move tokens in or out of the exchange. This is a standard procedure for exchanges when supporting network upgrades, as it ensures the integrity of transactions during the migration process. The duration of the suspension has not been specified, but similar upgrades typically take several hours to a few days to complete. Why This Matters Ronin is a sidechain originally built for the Axie Infinity ecosystem, and its transition to a layer-2 network represents a significant technical advancement. For holders and traders on Bithumb, one of South Korea’s largest exchanges, this upgrade could enhance the long-term utility and scalability of the RON token. However, users should remain vigilant and monitor Bithumb’s official channels for updates on when services will resume. Conclusion Bithumb’s temporary suspension of RON deposits and withdrawals is a routine but important measure to support the Ronin network’s upgrade to L2. Users are encouraged to act before the May 11 deadline to avoid inconvenience. The move underscores the exchange’s commitment to maintaining network compatibility and security during technological transitions. FAQs Q1: When will Bithumb suspend RON deposits and withdrawals? The suspension begins at 9:00 a.m. UTC on May 11. Q2: Why is Bithumb suspending RON transactions? The suspension is to support a network upgrade from the existing Ronin blockchain to Ronin L2, a layer-2 solution. Q3: Will RON trading continue during the suspension? Yes, trading may continue, but deposits and withdrawals will be unavailable until the upgrade is complete. This post Bithumb to Halt Ronin (RON) Deposits and Withdrawals on May 11 for Network Upgrade first appeared on BitcoinWorld .
8 May 2026, 21:05
Solv Protocol and Re Switch to Chainlink CCIP, Moving Nearly $1B Away From Layerzero
Three decentralized finance ( DeFi) protocols managing nearly $1 billion in combined assets have moved or are actively moving their cross-chain infrastructure from Layerzero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP), highlighting a broader push toward different bridging standards. Three DeFi Protocols Pull Nearly $1B From Layerzero After $292M April Exploit Solv Protocol announced this week
8 May 2026, 20:27
Exodus unveils XO Cash for instant stablecoin AI payments
🚀 XO Cash from Exodus brings instant, fee-free payments using AI-powered wallets in $USDT and USDC. AI can now send and control crypto payments securely through the Solana blockchain. 🧠 Critical data: Industry giants like Coinbase and Block are cutting staff and restructuring teams to focus on AI-driven financial innovation. Continue Reading: Exodus unveils XO Cash for instant stablecoin AI payments The post Exodus unveils XO Cash for instant stablecoin AI payments appeared first on COINTURK NEWS .
8 May 2026, 19:45
Shanghai launches blockchain trading platform as commodity index drops 4.81%
The SSE Commodity Index dropped to about 7,468 points on May 8, 2026. Compared to last year, this was over 5% less. To deal with falling prices , Shanghai is launching new initiatives. The city has introduced a blockchain platform for bulk commodity trading, aiming to boost growth and modernize trade across the Yangtze River Delta. The new platform was created by the Digital Innovation Alliance for Shipping and Trade to link data from important organizations like Shanghai Metals Market, China Materials Storage & Transportation Group, Shanghai International Port Group, and the National Bulk Commodity Warehouse Receipt Registration Center. The platform makes it possible for various industry sectors to collaborate better and exchange information more easily, thanks to blockchain technology. Blockchain unlocks financing market When issuing loans backed by commodities, banks have traditionally had difficulty verifying their authenticity. Blockchain, according to Zhao Xusheng, head of supply chain finance at China Zheshang Bank, transforms the process from trusting businesses to trusting the products themselves. This could open up a market where banks can lend money against stored inventory and play a bigger role in commodity trading. The method generates secure digital records that are difficult to change and allows things to be examined promptly, reducing fraud and financial risk for banks. Early trial projects have already led to faster loan approvals and made banks more confident about lending, which could free up billions of dollars tied to unused commodity stock. While Shanghai builds more digital systems, it is also strengthening the physical infrastructure behind them. Kunlunxin, the chip unit of Baidu, is planning to list on Shanghai’s STAR Board, and it is also considering a separate listing in Hong Kong. Baidu owns 58% of the company. The move is aimed at attracting investor interest in semiconductor companies as China continues to support growth in its chip industry. Listing in China also helps AI and chip firms raise money from local investors more easily. This is important because Chinese AI companies like DeepSeek and ByteDance need large amounts of domestically produced chips to run their AI systems. Testing grounds for AI policy This new wave of technology investment is happening while Shanghai is trying to turn itself into a place where AI-based government policies can be tested . Tech Week Shanghai 2026 recently ended. The event brought together technology industry leaders and government officials to discuss ways AI can be used in different regulatory and government systems. One major announcement was the Shanghai Pilot Programme for International Cooperation in the Data Sector. Shanghai is one of the first regions in China attempting large-scale sharing of data across international borders. The program also lays out development plans through 2030, including infrastructure projects and regulatory guidelines. The city isn’t just talking. Officials recently toured the Lingang International Data Economy Industrial Park in the Lingang Special Area of the China (Shanghai) Pilot Free Trade Zone. The park is testing new ways to move data across borders. One project there combines wind power with underwater data centers, mixing clean energy with computing power ready for AI work. Shanghai aspires to connect cutting-edge computer technology with safe and secure data sharing. Businesses now have to deal with more stringent regulations pertaining to cybersecurity and international data transfers. Blockchain-based trade systems, locally produced AI chips, and stringent regulatory control are all part of the city’s broader goal. By using this approach, Shanghai is helping multinational corporations test, improve, and expand data-driven innovations. Shanghai is trying to make its economy more stable even when markets fluctuate. One way to do that is to move away from relying mainly on physical commodity trading and put more focus on higher-value digital services. Blockchain plays an important role in this as it makes it easier to check that real assets are authentic. This helps unlock money that was previously stuck and fixes long-standing issues in commodity finance. Other initiatives include testing new laws and making chips locally. If you're reading this, you’re already ahead. Stay there with our newsletter .
8 May 2026, 19:30
Here’s How Much Ripple’s CTO XRP Holdings Would Be Worth If He Never Sold
Debates surrounding the XRP holdings of former Ripple Chief Technology Officer (CTO), David Schwartz, continue to emerge across the crypto market. New updates from an XRP researcher show just how many tokens Schwartz held and how much this would have been worth each year from 2012 to 2026 if he had never sold off his holdings. How Much Ripple’s Ex-CTO’s XRP Holding Could Have Been Worth A prominent crypto blockchain researcher, known as BankXRP, has released a new report on the value of the XRP stash once held by Schwartz. The findings detail how the value of the holdings could have grown over time before the former Ripple CTO sold his bags. The report reveals that Schwartz once held 26 million XRP tokens , which saw massive swings as the price changed each year. In 2012, XRP’s value sat at $0.005, making his holdings worth $130,000 before the cryptocurrency hit $2.30 in 2017 during the bull market . At that time, the former Ripple executive’s stash could have been valued at approximately $59.8 million. Following this, BankXRP said that Schwartz’s portfolio value would have plummeted when the XRP price fell to $0.19 in 2019, and would have risen again as the cryptocurrency’s value climbed back toward $1.00 in recent cycles. By 2024, after the massive rally , XRP’s average price sat at $2.08. This means the estimated value of Schwartz’s holdings would have been over $54 million. For 2025 and 2026, the latest figures show that XRP traded at average prices of $1.84 and $1.40, respectively. These market rates would have kept the value of the former CTO’s total holdings between $36.4 million and $47.8 million during the last two years. Notably, BankXRP said that Schwartz chose to sell a large portion of his tokens when the price was roughly $0.10 per token. This sell-off was not done in a single transaction. The former Ripple CTO had liquidated a large portion of his holdings in several waves between 2012 and 2020 as part of his de-risking strategy. That specific sale earned him about $2.6 million at the time, but the market continued to fluctuate wildly afterward. On May 6, 2026, Schwartz noted on X that he “once had 26 million XRP” but now holds considerably less. Schwartz Speaks On His Investment Strategy Schwartz shared new details regarding his personal digital asset holdings and overall financial strategy on X this week. The former Ripple CTO revealed that he has moved a significant portion of his wealth away from direct crypto exposure, including XRP. Schwartz explained that he prefers to limit his financial risk even though many of his past investments have been highly successful. He also clarified that he does not have much of his original XRP stash left because he dislikes risk and prefers a more conservative investment approach. While he views cryptocurrency as a rare opportunity to build wealth, Schwartz said he is comfortable missing out on potential massive gains . This is because he chose to prioritize stability over the highest possible returns in a volatile market. The former Ripple CTO also mentioned that he could have been a billionaire if he had been willing to take more risks with his portfolio. He believes that his current level of success matches the level of risk he has been prepared to accept over the years. Currently, his main tie to the blockchain industry comes from ownership of the Ripple stock . He said that the position gives him sufficient exposure to the crypto space while allowing his other finances to remain secure.
8 May 2026, 19:30
MegaETH launchs a token buyback program funded by yield from the USDm stablecoin
MegaETH Foundation shared on X on May 7 that it had completed its first token buyback, using all net rewards accrued from the USDm stablecoin issuer through the end of April. The foundation behind high-performance Ethereum Layer 2 blockchain MegaETH stated that the supply of USDm, its synthetic stablecoin that it created in partnership with Ethena, is now $480 million. The buyback mechanism is funded by yield from USDm. How will the MegaETH buyback program work? Apart from confirming its first buyback, the Foundation stated that future buybacks will be programmatic and on-chain. It stated that its reasons for that structure were to prevent discretionary decisions, to support MegaETH’s own markets and use MegaETH’s own chain, rather than routing capital through external venues. The foundation also put out a disclaimer that USDm is neither issued nor operated by it and MegaLabs. The buybacks are also going to vary, as the foundation stated that “funds available for buybacks are unlikely to be the same each period. USDm supply rises and falls, and reward share is impacted by prevailing rates of return on underlying reserve assets.” As of May 1, Aave announced that it had crossed $575 million in deposits on MegaETH. Aave crossed $575 million deposits on @megaeth . pic.twitter.com/jc5uSnVFq2 — Aave (@aave) May 1, 2026 Aave was one of the major DeFi protocols deployed at MegaETH’s mainnet launch in February, and its TVL trajectory speaks to the activity base generating the yield that will flow into future buybacks. Does the token buyback model actually work in crypto? The success of token buybacks has always depended on their execution and context. The clearest proof of concept to date is Hyperliquid, which led all protocols in 2025 buyback activity. According to reports, it spent approximately $645 million repurchasing HYPE tokens through its Assistance Fund, representing 46% of total buyback spending across the entire industry as of October 2025. The protocol reportedly routes 97 to 99% of its trading fees into buybacks and permanent burns. On the other hand, Pump.fun’s experience tells a different story. The Solana-based meme coin launchpad allocated 100% of revenue to PUMP buybacks for nine months after launch. However, despite the burning and repurchases, the token traded roughly 81% below its all-time high and spent most of 2026 near record lows. In late April, the team acknowledged the disconnect and pivoted its model, stating that it had burnt approximately $370 million worth of bought-back PUMP, about 36% of its circulating supply, and is now redirecting 50% of future revenue to operations, with the remaining half going to a new programmatic buyback-and-burn mechanism. The future of $PUMP We have burned ALL bought back $PUMP tokens, around $370M worth of purchases (~36% of circulating supply), to gain trust with our community. On top of that, we have initiated a programmatic buyback *and burn* scheme at 50% of revenue for the next year to… — Pump.fun (@Pumpfun) April 28, 2026 MegaETH is positioning itself closer to the Hyperliquid end of the spectrum than the Pump.fun end. Its focus on programmatic and on-chain execution, rather than Foundation discretion or one-off gestures, is a deliberate design choice and one that aligns with the direction token buyback programs have moved following blowback that usually follows projects that took opaque approaches. MegaETH’s native token, MEGA, rose by over 8% after 24 hours following the announcement, trading at $0.130. However, it is currently trading at 0.122. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
