Invest ideasNews
10 May 2026, 00:17
CZ says crypto exchange rivals opposed his pardon bid
Binance co-founder Changpeng “CZ” Zhao said rival crypto exchanges were concerned a pardon could pave the way for Binance to return to the US market.
9 May 2026, 23:00
Bitcoin Open Interest Sees Largest Increase In 2026 — What’s Happening?
This week, Bitcoin saw a significant surge in bullish momentum, driving its price from $78,000 to as high as $82,855. While the flagship cryptocurrency has pulled back from this local high, it is yet to shift towards a bearish structure. Interestingly, a recent on-chain analysis revealed significant growth in derivatives activity in the Bitcoin market. Bitcoin Open Interest Climbs Across Major Exchanges In a recent Quicktake post on the CryptoQuant platform, pseudonymous analyst Darkfost revealed an interesting change in Bitcoin’s derivatives market participation. This on-chain observation is based on the Open Interest metric. Open Interest refers to the total number of active futures contracts held by traders in the market. Rising open interest is often interpreted as a sign that fresh capital is entering derivatives markets, especially during periods of strengthening price momentum. Notably, Bitcoin’s Open Interest has just increased by the largest margin since the beginning of 2026, despite funding rates remaining in negative territory, as they have over the past couple of weeks. According to Darkfost, Bitcoin’s latest growth in Open Interest has already exceeded levels seen during Bitcoin’s previous all-time high in 2025. Thus, it becomes more evident that market participation across exchanges has indeed been positive. Binance Sees $2.5B In Open Interest, Leads Other Major Exchanges The crypto analyst went on to highlight Binance’s role in the dynamic currently in play. As Darkfost explained, roughly 34% of the market share is accounted for by Binance, the world’s leading cryptocurrency exchange by trading volume. As of May 5, the exchange reported an average monthly open interest of approximately $2.5 billion. Other exchanges were also cited in the Quicktake post, with Gate.io reporting an Open Interest growth of about $1.75 billion. Bybit then followed in the Open Interest ranking, with an average Open Interest of roughly $1.15 billion. According to Darkfost, these figures recorded by the cited exchanges reflect a growing optimism in the Bitcoin market , as opposed to conditions seen early in the year. When optimism grows, it typically prompts traders to increase their risk exposure once more. However, Darkfost noted that this could make the BTC market more fragile, as large clusters of long or short positions become vulnerable to liquidation events. When prices move sharply against overleveraged traders, forced liquidations can accelerate volatility and amplify price swings in both directions. Hence, while the rise in Open Interest may be beneficial to Bitcoin’s price , market participants should remain cautious of sudden volatility spikes. As of this writing, Bitcoin is valued at around $80,265, up 0.5% from yesterday.
9 May 2026, 22:47
Bengaluru hacker caught after seven years in crypto heist probe
India’s Enforcement Directorate (ED) arrested the main suspect in a long running Bitcoin theft case on Saturday, pulling in two associates with him in Bengaluru. The ED arrested Srikrishna, who goes by Sriki, along with Robin Khandeval and Sunish Hegde. They’re facing accusations tied to a cryptocurrency fraud worth Rs 11.5 crore, ~$1.3 million, according to local media outlets. A special court gave the ED 10 days of custody to dig deeper. The hack started in 2017 This scam goes back to 2017. That’s when Sriki and his crew allegedly broke into national and international websites and made off with Bitcoin. The stolen coins included a haul from a Dubai exchange, investigators think. The crypto then got funneled to people with political ties in Karnataka. Sriki first landed on law enforcement’s radar in November 2020. He got arrested for allegedly buying hydro ganja on the dark web using Bitcoin. India’s ED has been chasing this Bitcoin scam for years now. The police are investigating illegal crypto transactions, hacking, and various financial irregularities. The case kicked up a lot of political noise in Karnataka. On April 20, the ED raided 12 locations linked to the accused and their associates. Among the targets, places connected to Mohammed Haris Nalapad and Omar Farook Nalapad, sons of Shantinagar MLA N.A. Haris. Mohammed Hakeeb Khan, grandson of former Union Minister K. Rehman Khan, also had his residence searched. The ED thinks Mohammed Haris and Omar Farook ended up with proceeds from the crime. Investigators claim the hacked Bitcoin moved from the Dubai exchange to the Nalapads. The agency’s been tracing the digital trail. Suspicious money transfers through Hakeeb Khan’s bank accounts triggered searches at his place too. Transactions between Khan and Sriki are still under investigation as part of the wider probe. The case got passed around between Indian authorities Bengaluru’s Central Crime Branch handled the Bitcoin scam initially. Then it got transferred to Karnataka’s Criminal Investigation Department. The ED eventually took over, using the Prevention of Money Laundering Act to track proceeds across crypto wallets and traditional banking channels. In a separate case, the Himachal Pradesh High Court recently denied bail to Abhishek Sharma. He’s accused of running a crypto MLM scheme that allegedly ripped off +80,000 investors for Rs 500 crore, or ~$3.6 million, Cryptopolitan previously reported . The court called economic offenses “grave” because they hit the economy. Globally, crypto fraud losses keep climbing. The FBI’s latest annual report recorded $11.4 billion in cryptocurrency losses across the United States in 2025. This is a 22% jump from the prior year, according to Cryptopolitan’s coverage of the report . Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
9 May 2026, 22:00
Linux kernel flaws put crypto exchanges, validators, and custody systems on alert
Security researchers are currently reacting to two Linux kernel vulnerabilities, which are forcing crypto infrastructure operators into urgent security reviews. On April 29, researchers publicly disclosed a critical local privilege escalation flaw dubbed CVE-2026-31431 or “Copy Fail” in the Linux kernel’s crypto API. Copy Fail reportedly affects every distribution made from 2017. Copy Fail was confirmed active and immediately added to the U.S. Cybersecurity and Infrastructure Security Agency’s Known Exploited Vulnerabilities catalog on May 1. Less than two weeks later, even before many organizations completed mitigation work for Copy Fail, another Linux privilege escalation chain called “Dirty Frag” hit the wild. Dirty Frag was publicly disclosed on May 7. It reportedly combines CVE-2026-43284 and CVE-2026-43500 to obtain root privileges through Linux kernel memory-management flaws. Researchers report that Dirty Frag can manipulate memory allocation patterns to overwrite privileged kernel objects and eventually gain root-level execution. Unlike Copy Fail, Dirty Frag had no available patches at the time of disclosure. Why crypto firms are particularly exposed to the Linux vulnerabilities The crypto space is exposed to the Copy Fail and Dirty Frag vulnerabilities, as most core crypto infrastructure runs on Linux. Crypto exchanges use Linux servers to manage wallets and execute trades. Some of the cn-chain validators on PoS blockchains, like Ethereum and Solana, usually operate on Linux-based environments. The same goes for crypto custodians. Due to this, researchers view Copy Fail and Dirty Frag as a risk to crypto platforms. Copy Fail already has patches available. However, deploying kernel updates across live crypto infrastructure is rarely simple. Dirty Frag presents the biggest risk, given that there are currently no official patches to deploy. At the time of writing, no major crypto exchange or custody provider has publicly disclosed a breach tied to either vulnerability. Both Copy Fail and Dirty Frag are currently featured on the latest alert list of the Canadian Cyber Centre. In one of the reports, the Cyber Center recommends that organizations concerned should disable vulnerable kernel modules until vendor patches are available. It also recommended restricting local and remote access to affected systems, particularly in shared or multi-tenant environments. “Monitor authentication, system, and kernel logs for signs of privilege escalation or abnormal activity,” the Cyber Center adds, among other safety measures. Your bank is using your money. You’re getting the scraps. Watch our free video on becoming your own bank
9 May 2026, 18:30
Bitcoin Funding Rates Fall To 2020 Lows On Binance — Fuel For Further Upside?
After multiple weeks hovering below $80,000, Bitcoin finally broke above the psychological level on Monday, May 4th. The premier cryptocurrency enjoyed a significant surge in bullish momentum, pushing its price to as high as $82,000 over the past week. While the Bitcoin price has slowed over the past couple of days, most indicators point to the market leader being in bullish territory, at least in the short term. For instance, a specific on-chain metric suggests the BTC price is on the verge of another leg up. Is A Short Squeeze Imminent For BTC? In a recent Quicktake post on the CryptoQuant platform, market analyst CryptoOnchain discussed a significant occurrence in the Bitcoin derivatives market. Fresh on-chain data shows that BTC’s Funding Rates on Binance have dropped to -0.002, a new multi-year low. The relevant indicator here is the 50-day Simple Moving Average of Bitcoin’s Funding Rates on Binance, the world’s largest cryptocurrency exchange by trading volume. As highlighted by CryptoOnchain, this metric, which measures the periodic fee exchanged between traders in a cryptocurrency’s derivatives market, has fallen to its most negative level since the post-COVID crash in April 2020. Typically, negative funding rates imply that short traders (investors with sell positions) are paying a fee to long traders (investors with buy positions), as they bet against the price of the cryptocurrency (Bitcoin, in this case). “Prolonged negative funding rates at this magnitude indicate absolute dominance of bearish sentiment and aggressive short-selling,” CryptoOnchain said in their Quicktake post. Furthermore, CryptoOnchain noted that history provides some context for why the current Funding Rates could be good for Bitcoin’s price. The analyst explained that when the derivatives market was “skewed towards the shorts” in the past, BTC experienced “ short squeezes ” that provided rocket fuel for further upside. For context, a short squeeze is a phenomenon in which an asset’s price experiences a rapid surge, forcing short traders to buy to cover their losses from the initial surge and subsequently triggering a self-enforcing wave of buying pressure. CryptoOnchain noted that these latest on-chain dynamics strongly suggest that the $80,000 region could be the start of the next upward phase . Bitcoin Price At A Glance As of this writing, the price of BTC is around $80,132, with no significant change over the past 24 hours. According to CoinGecko data, the premier cryptocurrency is up by more than 2% in the past seven days.
9 May 2026, 18:30
Bitcoin Drops To 2 Cents! Revolut Users Report Massive BTC Price Glitch
A third-party provider failure caused Revolut’s app to show wildly inaccurate crypto prices on Friday, the company confirmed, after users flooded social media with screenshots of Bitcoin listed at just 2 cents. Related Reading: Bitcoin Supply Shock: 100,000 BTC Vanish From Exchanges In Under 90 Days Third-Party Provider Blamed For Pricing Chaos Revolut acknowledged the problem in a public statement, saying engineers were working on a fix and urging customers to check its status page for updates. Hi. We want to help resolve the issues you’re facing with the Bitcoin price notification. We’re currently experiencing issues affecting some of the app’s functionalities. Please be assured that our colleagues are working on this as we speak. Please keep an eye on our status page… — Revolut Support (@revolutsupport) May 8, 2026 A company spokesperson later confirmed the disruption had been resolved, attributing it to a service failure at an unnamed external pricing provider. The company said it was still evaluating the full details of what went wrong. UPDATE: It wasn’t just Bitcoin. Multiple coins on Revolut appeared to flash-crash/glitch at the same time. Looks like a pricing/chart glitch — but for a few seconds, everyone thought they discovered the biggest crypto discount of all time.#Crypto #Bitcoin #Revolut pic.twitter.com/fIelIbAOor — Dave Flowman (@_btcd) May 8, 2026 The glitch wasn’t limited to Bitcoin. Users reported seeing simultaneous price drops across XRP, Solana, and even stablecoins like USDT and USDC — assets designed to hold steady at one dollar. Screenshots shared on X and Reddit showed Bitcoin’s 24-hour chart registering a roughly 50% intraday plunge, with the price briefly anchoring near $39,900 before snapping back. Some users also received push notifications warning that BTC had hit a 52-week low of 2 cents. According to Revolut, The price of Bitcoin has just dropped to $0.02 I guess its time to buy! 😂 pic.twitter.com/YIbwBGrkeT — That Martini Guy ₿ (@MartiniGuyYT) May 8, 2026 No Matching Moves On Any Other Platform Pricing data on major aggregators showed nothing unusual during the same window. Bitcoin’s price on CoinMarketCap and CoinGecko held steady, with no sign of any crash in derivatives markets either. The anomaly appeared entirely contained within Revolut’s app. Ranveer Arora, a former PwC quantitative trading lead and co-founder of Altura.trade, told reporters two explanations are in play. The first is a corrupt data tick pushed through Revolut’s pricing system — a single bad data point that briefly anchored the chart before being corrected. Because Revolut is not an exchange and pulls prices from outside providers, one faulty input can be enough to produce exactly this kind of chart distortion. The second possibility is a transient liquidity gap. Revolut’s order book is shallower than what you’d find on a full exchange, so a large sell order could theoretically exhaust available bids and print a sharp downward wick before prices recover. Arora noted, however, that the lack of matching prints on any other platform makes the data feed explanation more likely. Related Reading: XRP Market Now Controlled By Whales? Dominance Reaches 91% On Binance Why Retail Apps Face Unique Data Risks Marc Tillement, director of blockchain price oracle Pyth Data Association, said the episode shows how quickly a single bad data point can distort price perception — particularly in retail-facing systems where users may not think to cross-check what they’re seeing. Tillement said that as markets grow more data-dependent, the reliability of pricing infrastructure becomes central to how much traders can trust what’s in front of them. Transparent, verifiable data layers, he argued, are what separate a glitch from a crisis. Featured image from Pixabay, chart from TradingView
