Coinbase CEO has cashed out approximately $550 million in COIN over the past year.

On May 8, per LookOnChain monitoring data, a whale has taken long positions on multiple popular crypto tokens, with the following breakdown: - 3.08M NEAR (~$4.83M) - 75.55M STRK (~$4.3M) - 9,561 XMR (~$3.8M) - 1.28M TON (~$3.33M) - 14.86M AZTEC (~$357K) - 71.99M PUMP (~$147K)

May 8 – Analyst Murphy noted that while the market is fixated on Bitcoin’s $60,000 price low, on-chain chip structure analysis suggests the crypto’s true bottom foundation may lie in the dense turnover zone around $66,000. Data shows ~440,000 BTC has accumulated in this area, with 240,000 BTC traded between February and April. Currently, the $65,000-$78,000 range holds 13.8% of Bitcoin’s chip distribution—still below the 18.7% level seen before the October 2022 FTX flash crash. But traditional funds (including ETFs and MicroStrategy) have locked up ~13% of circulating supply at relatively high levels, giving the current ratio a solid base for a bottom structure. A double retracement and further turnover in this range would strengthen the bottom’s “downward resilience.” Murphy emphasized the true bottom shouldn’t be tied to the $60,000 low, but rather the $66,000 turnover zone where large funds entered. Turnover in the $78,000-$82,000 range remains insufficient, and the mark

**Coinbase Outage Update: Core Services Restored After AWS Multi-AZ Disruption** Coinbase’s official support team issued a statement on May 8 regarding a service outage that impacted users overnight. Around 8 p.m. U.S. Eastern Time (ET) on May 7, the platform detected elevated error rates across multiple services. An investigation confirmed the root cause was a failure in Amazon Web Services’ (AWS) US East 1 Region (US-EAST-1)—specifically in Availability Zone use1-az4—that spread to additional AZs, triggering prolonged interruptions to core transaction services. While Coinbase’s infrastructure is designed to withstand single AZ failures and recover quickly, the simultaneous multi-AZ outage prevented users from completing transactions. All main issues have now been fully resolved, and Coinbase thanked users for their patience. The team will conduct a comprehensive analysis, with further details expected following AWS’s official post-incident report. Users still experiencing

On May 8, Bithumb will list Pharo (PROS) with a KRW trading pair.

May 8th. Chloe, columnist for HTX DeepThink and analyst at HTX Research, notes the crypto market’s core driver is shifting from a narrow “rate-cut expectation trade” to a broader framework combining **jobs resilience, inflation pressure, and an uncertain rate path**. This Friday’s April non-farm payrolls report is the key short-term macro catalyst. Markets forecast ~62,000 new jobs—down sharply from March but still stable—with the unemployment rate holding at 4.3% and wage growth rebounding. For the Fed, this is a classic “hard to pivot to easing” scenario: - Even weak payrolls won’t let traders place big bets on rate cuts again. - A stronger-than-expected reading would rekindle “higher rates for longer” bets. ### Crypto Market Notes A liquidity-fueled rally is unlikely short-term: - **Bitcoin (BTC)** remains resilient but is still sensitive to U.S. dollar liquidity. A strong payrolls report paired with wage growth would directly weigh on it; weak data without a big un