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Home Articles Crypto Market Recap: Trump-Linked WLFI Token Collapses; Binance Adds Withdrawal Lock Amid Kidnapping Surge; Stablecoins Could Hit $4T by 2030; and More (May 3–9, 2026)

Crypto Market Recap: Trump-Linked WLFI Token Collapses; Binance Adds Withdrawal Lock Amid Kidnapping Surge; Stablecoins Could Hit $4T by 2030; and More (May 3–9, 2026)

Joseph Alalade
Joseph Alalade
Joseph Alalade
Author:
Joseph Alalade
News Lead and Editor
Joseph is a content writer and editor who has actively participated in crypto for over 6 years. He enjoys educating others about Web3 and covering its updates, regulatory developments, and exciting stories.
Updated: May 10th, 2026
Editor:
Joseph Alalade
Joseph Alalade
Editor:
Joseph Alalade
News Lead and Editor
Joseph is a content writer and editor who has actively participated in crypto for over 6 years. He enjoys educating others about Web3 and covering its updates, regulatory developments, and exciting stories.
Fact Checker:
Joseph Alalade
Joseph Alalade
Fact Checker:
Joseph Alalade
News Lead and Editor
Joseph is a content writer and editor who has actively participated in crypto for over 6 years. He enjoys educating others about Web3 and covering its updates, regulatory developments, and exciting stories.

It was a week of sharp contrasts in crypto. Trump-linked World Liberty Financial imploded after Bloomberg revealed secret token sales funneling proceeds to insiders, sending WLFI down over 85% from its peak.

Meanwhile, Bitcoin held near $80,000 as spot ETFs logged their longest weekly inflow streak in nine months, though late-week outflows raised fresh doubts.

Elsewhere, Solv Protocol moved $700 million in tokenized Bitcoin away from LayerZero due to security concerns. Read the full recap for everything that moved markets this week.

WLFI Tanks After Bloomberg Exposes Secret Token Sales and Insider Payouts

World Liberty Financial dropped 10% after a Bloomberg investigation revealed the project quietly sold 5.9 billion extra tokens to private buyers post-fundraising, routing proceeds to Trump-affiliated entities while existing holders stayed locked out. Senator Elizabeth Warren called it presidential corruption. The token is now down over 85% from its all-time high.

Bitcoin Stalls at $80K as ETF Inflows Dry Up and Iran Tensions Linger

Bitcoin hit $80,400 this week but struggled to push higher as spot ETF inflows reversed, shedding over $420 million in two days. US-Iran tensions and a strong jobs report, dampening rate-cut hopes, weighed on sentiment. Technically, analysts see a path to $90,000 if momentum holds.

Solv Protocol Dumps LayerZero, Moves $700M in Bitcoin to Chainlink

Solv Protocol is migrating over $700 million in tokenized Bitcoin from LayerZero to Chainlink’s CCIP bridge, citing security concerns and recent high-profile exploits. The move follows Kelp DAO’s similar switch after a $292 million hack, pushing nearly $1 billion in combined assets toward Chainlink and marking a significant industry shift in bridge infrastructure preference.

Coinbase Posts $394M Loss but Charts Signal a COIN Rebound

Coinbase shares dropped over 4% after reporting a weak Q, revenue fell 21% to $1.4 billion, and net loss hit $394 million, hit hard by the crypto winter. Still, rising Bitcoin ETF inflows, a Deribit acquisition, and an ascending triangle on its price chart suggest a potential near-term recovery.

Bittensor Breaks Key Level, Eyes $485 on ETF Hopes

Bittensor’s TAO token surged 6% to top $311, completing a textbook inverse head-and-shoulders pattern that projects a 54% move to $485. The $280 support level held firm after a retest, validating the setup. A pending spot ETF from Grayscale and Bitwise could add institutional firepower if approved by year-end.

NEAR Protocol Jumps After Confirming Quantum-Safe Security Upgrade

NEAR Protocol surged 14% to $1.49 after confirming it will integrate a NIST-approved post-quantum signature standard in Q2. Unlike Bitcoin or Ethereum, NEAR’s account model allows users to migrate in a single transaction,, with no hard fork required. The upgrade will also extend quantum-safe signing to 35+ external chains.

Bitwise CIO Sees Stablecoin Market Hitting $4 Trillion by 2030

Bitwise CIO Matt Hougan predicts stablecoin supply will surge from $300 billion today to $4 trillion by 2030, matching Citigroup’s bull-case forecast. He points to explosive transaction volumes, big-tech pilots from Meta, Stripe, and DoorDash, and growing use in remittances and payments as the key drivers behind the projection.

Venice Token Breaks Key Resistance as Analyst Eyes $100

Venice Token surged past a long-standing resistance at $9.94, with analyst Bitcoin Mami predicting a rally to $100, a 900% jump. The bullish case rests on aggressive token burns, rising API demand generating $20M annually, and futures open interest climbing from $5M to $73M this year.

Gh0st Brings Private On-Chain Trading to BNB Chain

Genius Terminal has launched Gh0st on BNB Chain, a privacy trading tool that routes orders through dozens of coordinated wallets to shield traders’ strategies from public tracking. It breaks the link between a user’s main wallet and their execution activity, while still allowing regulators full ledger access when required.

Filecoin Price Surges 15% as AI Storage Boom Spills Into Crypto

Filecoin jumped 15% in a single session as Wall Street’s AI storage rally, which sent SanDisk up 94% in a month, pushed traders toward crypto alternatives. Spot volume spiked 260% to $372 million. FIL broke out of a three-month trading range, with $1.607 now the next key resistance level. Arweave and Storj also rallied.

Polygon Wallet Now Lets Users Send Stablecoins Privately

Polygon Labs has added shielded USDC and USDT transfers to its consumer wallet, using Hinkal’s privacy tech to hide sender, recipient, and amount on-chain. Zero-knowledge proofs verify each payment without exposing details. The feature targets business and institutional users and includes sanctions screening to ease compliance teams’ concerns.

Ondo Brings Strategy’s Preferred Stock On-Chain With 11.5% Yield

Ondo Finance has tokenized Strategy’s perpetual preferred stock under the $STRC ticker, offering a 11.5% annual yield paid monthly. Available on Ethereum, BNB Chain, and Solana, it targets non-U.S. investors across Asia, Africa, Europe, and Latin America. The launch extends Ondo’s growing portfolio of tokenized real-world assets, which already covers 100-plus U.S. stocks and ETFs.

Telegram Takes Over TON, Toncoin Jumps 15%

Toncoin surged nearly 15% after Pavel Durov announced Telegram will replace the independent TON Foundation as the network’s primary operator and largest validator. The move is part of Durov’s “MTONGA” roadmap, which has already cut transaction fees sixfold. Analysts now eye $1.947 as the next key price target.

Binance Adds Withdrawal Lock to Fight Crypto Kidnapping Threat

Binance has launched “Withdraw Protection,” allowing users to freeze all crypto withdrawals for up to 7 days, even if someone has their password or passes two-factor authentication. The feature targets so-called wrench attacks, where criminals physically threaten holders to force transfers. Such incidents have surged, with 79 ransom-focused attacks recorded in 2025 alone.

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Contributors

Joseph Alalade
News Lead and Editor
Joseph is a content writer and editor who has actively participated in crypto for over 6 years. He enjoys educating others about Web3 and covering its updates, regulatory developments, and exciting stories.