Before the US-Iran Deal was disclosed, a $1.7 billion short position appeared in the oil market, leading to questions about whether Axios was "colluding in short selling."
**May 7th: WTI Crude Sell-Off Sparks Insider Trading Suspicions Ahead of US-Iran Ceasefire Report**
A massive $1.7 billion sell-off jolted WTI crude oil futures abruptly before Axios reported the U.S. and Iran were close to a ceasefire memorandum of understanding (MOU), fueling claims of insider trading and early information leaks.
ET market data shows: Between 3:40–4:10 a.m.—with no major breaking news—traders piled into nearly 10,000 crude short contracts (notional value ~$920 million). Roughly 70 minutes later, Axios cited U.S. officials to break that the two sides were near a 14-point conflict-ending agreement. Oil prices then plunged over 12%, leaving the short positions with ~$125 million in temporary unrealized profits.
Several energy traders noted early-morning trading is typically thin, making the large-scale, precise trades “highly unusual”—raising questions about traders accessing the news early. Axios reporters denied colluding with market participants to manipulat
8 minutes ago
CertiK: Smart Contract Vulnerability Exploited, Approximately $5.87 Million in Pre-Authorized Funds Stolen
On May 7, CertiK issued a security alert noting that approximately $5.87 million in pre-approved funds were stolen via the contract address 0xeEeEEe53033F7227d488ae83a27Bc9A9D5051756.
The attacker registered as an “AllowedOrderSigner” through a public function before executing orders to transfer funds from victims’ addresses.
CertiK is urging users to immediately revoke authorization for the vulnerable contract to prevent further asset losses, and calling on the community to remain vigilant.
8 minutes ago
Trump: Stock Market Hits All-Time High Today, Employment and 401-K Plans Thriving
**U.S. Stocks Notch Fresh Highs; Trump Highlights Market, Jobs & 401(k) Gains**
On May 7, former U.S. President Donald Trump said the stock market hit a new all-time high that day, noting jobs and 401(k) plans are flourishing.
Earlier Wednesday, BlockBeats reported U.S. equities closed with the Dow Jones Industrial Average up 1.2%, S&P 500 up 1.4% and Nasdaq Composite up 2%. The Dow briefly reclaimed the 50,000-point mark intraday, while the S&P 500 and Nasdaq notched fresh record highs.
Nvidia surged 5.7% to a $5.05 trillion market cap. Google rose nearly 3%, and Intel gained 4%.
8 minutes ago
Cardano Founder: By 2035, AI Agent's Importance to the Internet Will Surpass Humanity, Google and Other Giants 'Very Panicked'
**Cardano Founder Charles Hoskinson: AI Agents Will Dominate Internet Activity by 2035, Upending Tech Giants’ Business Models**
On May 7, Cardano co-founder Charles Hoskinson told attendees at Consensus 2026 that by 2035, most internet searches, transactions, and daily activities will be driven by AI agents—not human users—fundamentally upending the business models of tech giants like Google, Amazon, and Meta (formerly Facebook).
Hoskinson noted AI agents won’t click on ads or exhibit brand loyalty, directly undermining platforms that rely on ad revenue. “Amazon, Google, Meta are in panic mode over the agent revolution—their entire business models are at risk of being overturned,” he said.
He highlighted AI’s growing role in crypto: agents will increasingly handle tasks like due diligence, transaction execution, and DeFi interactions. Calling AI “one of the best things to ever happen to cryptocurrency,” he added it will drastically improve the industry’s currently complex user
8 minutes ago
Wall Street Clearinghouse Giant DTCC is Collaborating with Multiple Layer1s to Drive On-Chain Corporate Actions Such as Dividends
On May 7th, Frank La Salla, CEO of U.S. securities clearing giant DTCC (Depository Trust & Clearing Corporation), announced the firm is partnering with multiple high-performance Layer1 blockchains to explore migrating complex corporate actions—such as dividend distributions and tender offers—to on-chain processing.
Speaking at the Consensus 2026 conference, La Salla noted most current blockchains remain inefficient at handling corporate actions. DTCC processes millions of dividend payments daily, requiring a Layer1 network with high throughput and robust stability. As core U.S. capital markets infrastructure, DTCC handles roughly $20 trillion in U.S. Treasury and security transactions daily.
The institution plans to launch a tokenized securities platform test in July this year, with broader rollout targeted for October. La Salla believes “tokenized collateral” could become blockchain’s first large-scale institutional-grade use case. He added that in the future, Asian institutions
8 minutes ago
PENGU Token Deployment Address Deposits 100 Million PENGU to CEX, Coin Price Drops by 7%
On May 7, EmberCN monitoring data shows that following the transfer of 100 million PENGU tokens (valued at ~$1.08 million) from Pudgy Penguins’ token deployment address to a centralized exchange (CEX), the PENGU token price dropped 7%—from $0.01147 to $0.0106.
Six hours ago, 137 million PENGU tokens (worth $1.5 million) were moved out of the PENGU token deployment address. Subsequently, 100 million of those tokens (valued at ~$1.08 million) were sent to OKX and other exchanges.
8 minutes ago
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