On May 7, Coinbase CEO Brian Armstrong said crypto is entering a new adoption phase, calling the onchain economy at “escape velocity” as on-chain finance, stablecoins, and AI-driven payments expand. Coinbase reported Base stablecoin transaction volume rose tenfold year over year and the average USDC held in Coinbase products increased 55%. The company also pointed to agentic finance activity concentrating on Base and USDC during the quarter.

The U.S. Treasury Department has reportedly urged Binance to fully comply with the independent monitoring framework tied to its 2023 agreement, amid heightened sanctions enforcement. Reports also claim that in 2024–2025 more than $1 billion may have flowed through Binance to entities linked to Iran, while BNB fell over 1.5% after the news.

Bitcoin hovered around $80,000 after failing to hold $82,500 on Friday, following $268 million of net outflows from US-listed spot Bitcoin ETFs on Thursday. Over the same 24-hour window, $270 million in leveraged long BTC futures were liquidated, while mixed positioning among top traders added to near-term caution.

LayerZero Labs said on 8 May it mishandled communication after April’s rsETH incident and acknowledged its 1/1 DVN setup for high-value apps introduced risks it did not anticipate. The company also stated its internal RPC infrastructure used by the LayerZero Labs DVN was compromised during the attack and said 1/1 DVN is no longer supported, with defaults moving toward 5/5 or at least 3/3 verification. Following the roughly $292 million rsETH exploit, KelpDAO, Solv Protocol (over $700 million) and Re Protocol (more than $475 million TVL) announced migrations to Chainlink CCIP.

XRP on-chain indicators tied to adoption and usage have dropped sharply from their late-2024 highs, suggesting the earlier speculative burst has eased. New addresses are now about 2,700 per day versus 18,000 at the December 2024 peak, while 1-month active supply has slipped to around 2 billion tokens from 7.45 billion. XRP's price also pulled back after briefly trading above $1.45 on Wednesday and later hovering near $1.38.

Tether has filed a lawsuit in São Paulo aiming to recover a $300 million loan made to Titan Holding, a company tied to Daniel Vorcaro's Master conglomerate. The loan, issued in March 2025 via Tether Investments, was due by March 28 but had not been repaid at the time of writing. Tether says the exposure sits in its loan portfolio rather than USDT's backing, while it seeks court-ordered freezes on defendants' financial assets.

Ethereum traded sideways on Friday after a volatile week and was up about 1% over the past seven days. Fundstrat co-founder Tom Lee said ETH looks undervalued at current levels and reiterated a $22,000 target for 2028. At press time, ETH was $2,317, up 1.31% in the last 24 hours.

Toncoin (TON) extended a four-day climb and reached $2.9 before easing, as leveraged activity intensified. On May 8, a whale opened a 3x long on 1.97 million TON worth $5.39 million, while total liquidations hit $28.7 million, underscoring elevated volatility around the $3 resistance.