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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 .
8 May 2026, 19:30
Dollar Slips as Traders Pare Rate Hike Bets After Solid April Jobs Report
BitcoinWorld Dollar Slips as Traders Pare Rate Hike Bets After Solid April Jobs Report The US dollar edged lower on Monday, reversing early gains, as currency markets digested the latest nonfarm payrolls data. Despite a stronger-than-expected April jobs report, traders appeared to reduce their bets on further Federal Reserve interest rate hikes, signaling a shift in market sentiment. Market Reaction to the Jobs Data The Labor Department reported Friday that the US economy added 253,000 jobs in April, exceeding the consensus estimate of 180,000. The unemployment rate fell to 3.4%, matching a multi-decade low. Average hourly earnings also rose 0.5% month-over-month, slightly above expectations. Typically, such robust labor market data would reinforce expectations for tighter monetary policy, strengthening the dollar. However, the greenback failed to hold its gains, with the ICE US Dollar Index falling 0.2% to 101.30 in afternoon trading. Analysts pointed to several factors behind the muted reaction. Why Traders Are Rethinking Rate Hikes One key driver is the growing conviction that the Federal Reserve’s tightening cycle may be nearing its end, even if the labor market remains resilient. Markets are pricing in a higher probability that the Fed will hold rates steady at its June meeting, rather than delivering another quarter-point increase. “The jobs report was solid, but it didn’t change the narrative that the Fed is likely done hiking,” said a senior currency strategist at a major European bank. “Wage growth is still elevated, but the broader trend shows moderation. The market is looking past this single data point.” Additionally, renewed concerns about the US debt ceiling negotiations and regional banking sector stress are weighing on the dollar’s safe-haven appeal, pushing investors toward other currencies. Implications for Forex and Risk Assets The dollar’s decline provided a tailwind for other major currencies. The euro rose 0.3% against the dollar, while the Japanese yen strengthened 0.4%. Commodity-linked currencies, including the Australian and Canadian dollars, also gained ground. For equity markets, the combination of a solid labor market and a softer dollar was seen as a supportive mix. The S&P 500 edged higher, while Treasury yields stabilized after an initial spike. The 10-year yield settled near 3.45%. The dollar’s movement in the coming weeks will likely depend on upcoming inflation data and any progress on the debt ceiling. If core inflation continues to ease, the case for a Fed pause will strengthen, potentially keeping the dollar under pressure. Conclusion The dollar’s inability to rally on strong jobs data underscores a fundamental shift in market expectations. While the US economy remains robust, traders are increasingly convinced that the peak of the rate hiking cycle is near. This dynamic, combined with political and financial stability risks, suggests the dollar may face headwinds in the near term. Investors should watch for further clues from Fed officials and the next CPI report for confirmation of this trend. FAQs Q1: Why did the dollar fall after a strong jobs report? Traders focused on the broader narrative that the Federal Reserve is nearing the end of its rate hiking cycle, despite the strong April jobs data. The market is pricing in a higher chance of a rate pause in June, which reduced demand for the dollar. Q2: What does this mean for the Federal Reserve’s next move? The Fed is expected to closely watch upcoming inflation and wage data. If core inflation continues to moderate, the central bank may hold rates steady at its June meeting. The odds of a rate cut later this year remain low but have increased slightly. Q3: How might the dollar trade in the coming weeks? The dollar’s direction will depend on debt ceiling negotiations, regional bank stability, and the next inflation report. A resolution on the debt ceiling and softer inflation data could keep the dollar under pressure, while a renewed risk-off mood could boost its safe-haven appeal. This post Dollar Slips as Traders Pare Rate Hike Bets After Solid April Jobs Report first appeared on BitcoinWorld .
8 May 2026, 19:25
Bitwise CIO Sees Bitcoin’s Speculative Use Falling to Zero by 2050, Becoming a Central Bank Staple
BitcoinWorld Bitwise CIO Sees Bitcoin’s Speculative Use Falling to Zero by 2050, Becoming a Central Bank Staple Matt Hougan, Chief Investment Officer at Bitwise Asset Management, has made a bold, long-term prediction for Bitcoin: that its use as a speculative asset will decline to zero by the year 2050. By that time, he envisions Bitcoin functioning as a standard reserve asset held by central banks worldwide. A Shift from Speculation to Institutional Foundation Hougan’s forecast, reported by U.Today, traces Bitcoin’s journey from its origins in 2009, when its value was driven almost entirely by speculation, to a future where it is a foundational component of the global financial system. He suggests that the asset class is maturing beyond its early, volatile days into a recognized store of value. This perspective is notable coming from a leading figure at a major crypto asset management firm. It implies a fundamental shift in how Bitcoin is perceived and used, moving from a high-risk trade to a strategic, long-term holding for the world’s most powerful financial institutions. Context: The Cyclical Nature of Crypto Sentiment Hougan’s comments also serve as a commentary on the often-dramatic swings in market sentiment. He pointed out that just three months ago, many were declaring Bitcoin ‘dead.’ Now, the narrative has flipped, with some proclaiming gold—the traditional safe-haven asset—to be obsolete. Hougan hints that the true shift is the declining trust in fiat currency itself. This observation highlights the cyclical nature of the cryptocurrency market and the difficulty of making accurate short-term predictions. It also underscores a growing debate about the future of money, with Bitcoin and gold often positioned as competing alternatives to government-issued currencies. Why This Matters for Investors and the Broader Market While a prediction for 2050 is extremely long-term, it provides a framework for understanding Bitcoin’s potential trajectory. For investors, it suggests that the current volatility and speculative trading are not the final state of the asset. Instead, they may be a transitional phase toward broader, more stable adoption. The idea of central banks holding Bitcoin as a standard reserve asset would represent a complete reversal of current regulatory skepticism in many jurisdictions. It implies a future where Bitcoin is integrated into the very fabric of international finance, a concept that has significant implications for monetary policy, inflation hedging, and global economic stability. Conclusion Matt Hougan’s prediction is a thought-provoking, if speculative, look at Bitcoin’s potential endgame. It moves the conversation from daily price fluctuations to a multi-decade outlook on the asset’s role in the global economy. While the path to 2050 is uncertain and filled with potential regulatory and technological hurdles, the forecast reflects a growing conviction among some industry leaders that Bitcoin’s future lies not in trading, but in institutional trust. FAQs Q1: What exactly did Bitwise CIO Matt Hougan predict? He predicted that by the year 2050, Bitcoin’s use as a speculative asset will drop to 0%, and it will instead be used as a standard reserve asset by central banks globally. Q2: What does it mean for Bitcoin to be a ‘central bank reserve asset’? It means that central banks would hold Bitcoin as part of their official foreign exchange reserves, similar to how they currently hold gold or U.S. Treasury bonds, to back their currency and ensure financial stability. Q3: Is this prediction widely accepted? No, it is a long-term forecast from a single industry executive. While it reflects a bullish outlook from a major crypto asset manager, it is not a consensus view and faces significant obstacles, including regulatory hurdles and price volatility. This post Bitwise CIO Sees Bitcoin’s Speculative Use Falling to Zero by 2050, Becoming a Central Bank Staple first appeared on BitcoinWorld .
8 May 2026, 19:23
Ripple CEO Has “Someting Special” for Holders: “We think that’s good for the community”
Ripple CEO Brad Garlinghouse just made an interesting statement. Speaking on the Crypto In America podcast with journalist Eleanor Terrett, Garlinghouse hinted that XRP holders could receive “something special” tied to a potential Ripple IPO. Brad just casually mentioned doing "something special" for xrp holders if ripple goes public bro said it himself. hold accordingly. ripple:native pic.twitter.com/E1vSUBROdM — Xaif Crypto (@Xaif_Crypto) May 7, 2026 However, Garlinghouse was direct about Ripple’s IPO timeline, calling it “not a priority”. He cited underperformance from crypto-related public listings, pointing to BitGo, Gemini, and Kraken’s delayed IPO plans as evidence that the public market environment isn’t favorable. Staying private, he joked, also lets him speak without lawyers breathing down his neck. But when Terrett pressed on whether XRP holders specifically benefit from a future IPO, Garlinghouse didn’t deflect; he leaned in, suggesting additional benefits beyond ecosystem growth are possible. “We think that’s good for the community,” he said. Discover: The best pre-launch token sales Ripple Special and XRP Price XRP just broke the $1.40 support level after failing to breach the $1.45 resistance. The same zone that it couldn’t sustain since February. The current compression pattern follows a high-volume breakout from a multi-month downtrend, with support anchored around the $1.35 range. Xrp (XRP) 24h 7d 30d 1y All time Resistance layers stack at $1.40 first, then $1.45 as the zone it has been fighting to break. Standard Chartered’s 2026 model sits at $2.80, while traders are watching whale accumulation. It has been known that whale wallets have added 1.2 billion XRP in Q1 2026, the highest quarterly total since 2023. Institutional interest is clearly building , but the CLARITY Act deadline is the swing factor. Garlinghouse called the next two weeks critical at Consensus Miami. Discover: The best crypto to diversify your portfolio with Bitcoin Hyper Targets Early-Mover Upside as XRP Tests Key Resistance XRP’s bull case is compelling, but at a $1.39 entry, the upside multiple is capped by an already substantial market cap. Traders chasing 10x-plus returns are increasingly scanning earlier-stage infrastructure plays, which is where Bitcoin Hyper enters the picture. Bitcoin’s ecosystem narrative is accelerating, and Bitcoin Hyper is positioning directly inside it. The project is the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration. The protocol would have a faster performance than Solana itself, combined with Bitcoin’s security layer. The presale is approaching $33 million at a current token price of just $0.0136 , with 35% APY staking rewards available as “something special” for early holders. Features include a decentralized canonical bridge for BTC transfers, sub-second finality, and low-cost smart contract execution that Bitcoin’s base layer simply cannot offer. Research Bitcoin Hyper here. The post Ripple CEO Has “Someting Special” for Holders: “We think that’s good for the community” appeared first on Cryptonews .
8 May 2026, 19:16
Bitcoin Bulls Defend $79,200 as $28.3M in Long Liquidations Resets Risk
Despite a surge in traditional equities and heightened military tensions in the Middle East, bitcoin remained stagnant over the last 24 hours, trading sideways near the $80,000 mark. Liquidation Volume Recedes Amid Consolidation Bitcoin traded sideways on Friday as global markets appeared to shrug off the latest skirmishes between the U.S. military and Iran’s Islamic
8 May 2026, 19:16
BlackRock and Fidelity Selling Ethereum on Coinbase Prime
On May 8, BlackRock and Fidelity reportedly transferred large amounts of Ethereum tokens on Coinbase Prime in order to sell. The transfer comes a day after major outflows in Spot ETH ETFs after a long streak, which shows that institutional interest is slowly fading away. Recently, BitMine’s Tom Lee has also revealed that the company is planning to reduce the speed of ETH accumulation as it nears 5% supply mark. According to on-chain data, popular financial institutions like BlackRock and Fidelity are selling their Ethereum holdings despite the stability in the overall crypto market, raising questions about their motive. According to Lookonchain, BlackRock has reportedly deposited 11,475 Ethereum (Ether), worth of $26.27 million, on Coinbase Prime around 3 hours ago. On the same day, Fidelity has also moved 23,919 Ethereum, worth around $54.44 million, into Coinbase Prime just a few minutes ago. Why are BlackRock and Fidelity Selling Ethereum? This dumping of Ethereum tokens is raising questions about its intention as it is coming while the crypto market is giving positive signs with impressive performance in the last few days. These on-chain transactions come after U.S. spot Ethereum ETFs have recorded major outflows of around $104 million on May 7. In this major outflow, Fidelity’s Ethereum Fund (FETH) has experienced a withdrawal of around $62 million. On the other hand, BlackRock’s iShares Ethereum Trust (ETHA) has witnessed an outflow of around $26 million. A similar trend of outflows was also witnessed in the other funds. This has created a reversal pattern after getting constant inflows in the last few days. The pattern of deposits of Ethereum tokens on Coinbase Prime by leading ETF issuers like BlackRock and Fidelity is part of their regular operations, as it is working as their major custodian for U.S. investors to balance investor outflows of funds. These kinds of transactions help them to keep their portfolio healthy, along with liquidity. BitMine Reduces the Speed of Accumulation of Ethereum While BlackRock and Fidelity are selling their ETH holdings, the biggest Ethereum holding public company, BitMine, is rapidly growing its Ethereum treasury by buying ETH on a weekly basis. However, Tom Lee recently revealed that the company might reduce the speed of accumulation as it is now approaching to accumulte 5% of the total Ethereum supply. “At our current buying pace of 100,000 ETH a week, we’re going to be there [at 5%] in like six weeks,” Lee said during a keynote presentation. “I think we’re deciding perhaps we want to accumulate at a somewhat slower pace.” While the overall cryptocurrency market is filled with positive sentiments, large outflows in ETH ETFs and growing geopolitical tension after fresh conflict between Iran and the U.S. have sparked fears about a potential downfall in the ETH price. According to CoinMarketCap , Ethereum is currently trading at around $2,282.93 with an impressive market capitalization of around $275.66 billion. The cryptocurrency is expected to face resistance around $2,300. On the other hand, it has a strong support zone at around $2,200 to $2,250. According to the current price chart, the short-term price chart is giving a neutral to bearish signal. The reason behind this is that most of the moving averages are giving sell signals. Quantum Threat Creates Panic Among Ethereum Investors In the long run, there is a quantum threat looming over blockchains like Bitcoin, Ethereum, and others. While keeping this in mind, Ethereum developers are actively working on methods to counter such quantum computing threats; still, users are looking at this threat as the quantum threat is approaching rapidly with every passing day, after impressive growth in the AI sector. According to the latest report, the quantum threat is expected to hit by 2030. The report stated, “This progress profile means quantum computing advancement may potentially follow a ‘nothing-and-then-all-at-once” exponential trajectory not unlike other emerging technologies such as AI. Our analysis suggests that, based on current trends, Q-Day is more likely to occur than not by 2033, and potentially even as soon as 2030.” “This timeline is a consequence of the fact that small improvements in error correction efficiency, higher qubit connectivity, or better code design create potential feedback loops leading to order-of-magnitude reductions in the resources needed for cryptanalysis. What appears as incremental hardware progress today might rapidly converge to a CRQC with little warning. Waiting until that point is clearly on the horizon risks insufficient time for post-quantum cryptography to be selected, tested, and deployed,” stated in the report. Last month, Ethereum’s co-founder Vitalik Buterin unveiled a detailed plan to take countermeasures against quantum threats. In this plan, he stated that Ethereum should integrate quantum-resistant cryptographic methods. This includes methods like Winternitz signatures and the zero-knowledge proof technology. Also Read: LayerZero Risks Escalate as Developers Push Security Debate
