How AI became crypto's favorite reason to cut staff
Coinbase, Block and Crypto.com have all cited AI to justify recent cuts, though Scale AI’s Jason Droege suspects companies are using the technology as cover.
Coinbase, Block and Crypto.com have all cited AI to justify recent cuts, though Scale AI’s Jason Droege suspects companies are using the technology as cover.
Internet Computer (ICP), up 5.8% from Thursday, was also a top performer.
Executives from MoonPay, Ripple and Paxos said at Consensus Miami 2026 that regulation has accelerated stablecoin adoption, but infrastructure, privacy and distribution remain major hurdles.
Analysts say Coinbase’s long-term growth may depend more on stablecoins and U.S. crypto legislation than a rebound in trading activity.
ECB President Christine Lagarde said Europe should build tokenized settlement infrastructure anchored by central bank money rather than rely on private stablecoins.
The data comes ahead of what's expected to be a new Federal Reserve chairman taking the reins at the U.S. central bank later this month.
Your day-ahead look for May 8, 2026
Several Ethereum metrics suggest the ETH price could see further downside due to reduced demand and weakening network fundamentals.
Coinbase says the outage has been fully resolved but that it will investigate the incident fully.
The credit facility would help Aave address bad debt created after the April rsETH exploit strained its WETH market.