TrustedVolumes Suffers Attack, Loses Approximately $5.9 Million in Assets

On May 7th, BitMEX co-founder Arthur Hayes spoke at the Consensus 2026 conference, sharing key views on Bitcoin and crypto regulation: - The crypto industry doesn’t need regulation—since it’s largely irrelevant to Bitcoin’s core value proposition. - Bitcoin’s price hinges on two factors: technical reliability and fiat liquidity, with the latter being the true driver. - Every round of monetary expansion has aligned with Bitcoin’s sharp surges: Obama-era quantitative easing, Trump’s first-term “helicopter money,” and Biden-era Treasury Secretary Yellen’s ~$2.5 trillion reverse repo funding (via short-term debt replacing long-term debt). - Even as the Trump administration signed crypto bills and sent clear regulatory signals, Bitcoin dropped ~25% in 18 months—proving regulatory favorability doesn’t directly boost prices; liquidity is fundamental. - The Trump family’s past struggles with bank de-risking, asset freezes, and lawsuits led them to see Bitcoin as a state-control-free

On May 7, Bitget announced via an official statement the launch of its U-dollar-denominated BILL perpetual contract, which offers leverage between 1x and 20x. A contract trading BOT will also go live simultaneously.

On May 7, crypto analytics firm Cryptoonchain announced via social media that Bitcoin’s Coin Days Destroyed (CDD) on Binance has hit its highest level since early 2023. Dormant Bitcoin has begun moving, signaling profit-taking by long-term holders and whales in the $78,000–$80,000 price range. The sharp jump in CDD suggests older Bitcoin is flowing into the exchange, pointing to rising selling pressure. Historically, this behavior has often preceded short-term volatility or a local price top. April’s peak inflow already signaled early distribution across the market; if buying demand fails to absorb this supply, Bitcoin could face a strong supply wall.

On May 7, Bithumb will list a new edgeX (EDGE) KRW trading pair, per official sources. In response to the news, EDGE briefly surged more than 8% and is currently trading at $1.4.

Santiment shared on social media May 7 that Bitcoin’s social sentiment has surged alongside its recent price rebound. Bullish-to-bearish comment ratios on social platforms hit 1.37:1.00—marking the highest positive crowd sentiment in roughly four months. This signals traders are growing increasingly optimistic as Bitcoin reclaims $80,000 and extends gains. After weeks of uncertainty tied to macroeconomic concerns, geopolitical tensions, and several crypto-related security incidents, retail traders are once again heavily leaning into expectations of further price gains. Yet historically, a sharp jump in bullish sentiment is often more of a warning than a direct buy signal. Markets often move against popular sentiment—especially when retail traders grow overly confident prices will only keep rising. As fear eases and FOMO (fear of missing out) quickly takes over social media discussions, traders often jump in late in the uptrend, raising the odds of local tops, profit-taking, and sudden

On May 7th, LookOnChain monitoring shows an individual created a new wallet (runecrypto.eth) and used 34.7 ETH—roughly $81,400—to purchase 375,046 SATO tokens, valued at approximately $5.244 million at the time. The wallet currently holds a profit of $443,000.