Key Crypto and Market Updates: Arrests, Network Milestones, and DeFi Developments
A former Binance executive’s arrest, Avalanche’s record user growth, massive ETH withdrawals from exchanges, and upcoming Ethereum network upgrades—all unfold against a backdrop of historic retail pessimism and rapid U.S. Treasury sell-offs. Below is a concise roundup of the most significant developments shaping crypto and broader markets.
Ex-Binance Manager Arrested for Massive Fraud
Former Binance executive and Blum cofounder Vladimir Smerkis was arrested under Russia’s Criminal Code Article 159, Part 4 (large-scale fraud). He is allegedly connected to past crypto ventures like The Token Fund and Tokenbox, where investors lost at least $15 million.
Avalanche Hits 1.95 Million Active Addresses
The Avalanche network reached a new high of 1.95 million active addresses, driven by a popular blockchain game launch and integration with a BlackRock-backed product.
Over 1 Million ETH Withdrawn from CEXs
In the past month, more than 1 million ETH (≈ 5.5% of total exchange balances) was withdrawn from centralized exchanges—indicating a clear preference for accumulation over selling.
Fusaka Devnet Launch Set for May 26
Ethereum core developers plan to launch the Fusaka devnet on May 26, featuring PeerDAS, BPO, and higher gas costs for MODEXP. Developers aim to finalize its primary functions by early July.
MetaMask to Add Native Solana Support
MetaMask CEO confirmed that the wallet will natively support Solana in 2025, expanding beyond EVM-compatible chains and broadening MetaMask’s reach into new blockchain ecosystems.
Consumer Sentiment Hits 43-Year Low
The University of Michigan Consumer Sentiment Index fell to 46.5, its most pessimistic reading since 1980, reflecting widespread concerns about the economy.
Fund Managers’ Treasuries Sell-Off at 22-Year Pace
Fund managers sold U.S. Treasury bonds at the fastest rate in 22 years last month, reallocating capital elsewhere as yields rose.
BlackRock CEO Warns of Volatility Ahead
BlackRock’s CEO forecasts high volatility over the next 90 days due to anticipated capital outflows from the U.S. into Europe, Asia, India, and Japan—driven by shifting yield differentials and geopolitical dynamics.
CONCLUSION
From legal crackdowns to record on-chain activity and strategic product rollouts, the crypto landscape continues to evolve rapidly. Coupled with extreme consumer pessimism and large-scale Treasury reallocations, these developments underscore a period of intense volatility and transformation.
News
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