It’s that time of the week again and your favorite underwater reporter is back with a fresh round of news from around the world! Get the latest on the crypto sphere and stay up to date on current developments. Here are some news that have been making waves of late.
BTC and Ethereum Riding the Wave
The crypto market is booming and showing all the good signs. Bitcoin hit the $100,000.00 mark once again on May 8th (the first time it reached those highest was in December of this year). While the oldest crypto currency is having its boom Ethereum skyrocketed with a 30% increase in just 24 hours. The Pectra upgrade seems to be doing wonders for Ethereum at the moment. While the whole market seems to be on an upward trajectory the investors are wondering if this is the beginning of another bull run.
Tether Declines EU Regulations
Tether CEO Paolo Ardoino states the company won’t register USDT under the EU’s new crypto regulations called MiCA. He believes the rules are risky for stablecoins and that they could really small and medium banks in Europe. One major concern is the requirement that 60% of stablecoin reserves must be held in insured European banks. Ardoino said his main focus is protecting Tether’s 400 million global users, many of whom are outside of Europe. He also suggested the EU may be more interested in controlling spending through its own digital euro. Some crypto exchanges like Kraken and Crypto.com have already removed USDT in response to MiCA, while Tether continues to operate under different rules from its base in El Salvador.
Pi Network–What Went Wrong?
Pi Network was once praised as a breakthrough in mobile crypto mining. But after launching its mainnet in February 2025, things started going downhill. The price dropped from $3 to under $0.60, KYC didn’t work well, control stayed centralized, and many users are still having issues withdrawing their own tokens. Now, people are asking and with good reason: was Pi a good idea that failed in execution—or is there still hope for it?
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That wraps it up for this week. Mr. Yabby hopes that this report brought you some good news for the week and that you have a nice start to it! It’s a brand-new day and it brings new hope with it. Until next time folks, stay lucky!
