US Stock Futures Dive Further

**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%.

**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

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

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.

On May 7, blockchain analytics platform OnchainLens reported that a whale or institutional investor withdrew 208,560 HYPE tokens—valued at roughly $9 million—from crypto exchanges Bybit, Gate, and OKX, then staked the tokens.

On May 7, Aave announced it has completed the liquidation of the remaining rsETH position held by the Kelp DAO attacker. The associated collateral will be transferred to DeFi United’s Recovery Guardian multisig wallet to replenish the rsETH reserve and compensate affected users. This liquidation is a key step in the $292 million Kelp DAO attack recovery plan. Earlier, the Aave community approved a governance proposal to temporarily adjust the rsETH oracle price, making the attacker’s position undercollateralized and triggering liquidation. Aave noted all related parameters will be fully restored post-liquidation, with no long-term impact on the protocol. The incident began on April 28, when an attacker reportedly tied to North Korea exploited a cross-chain bridge vulnerability in LayerZero-based Kelp DAO to fraudulently mint roughly 116,500 unbacked rsETH on Ethereum. The attacker then cashed out ETH via lending protocols including Aave and Compound. Following the attack, the DeF