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🌙 Bitcoin Tops $101,000 and Altcoins Rally Amid Fed Pause

Bitcoin surges 5%, while ETH and SOL rally 14% and 10%, respectively.

Author

Mike Gavela
May 08, 2025

In partnership with

Crypto Roundup - May 8

Bitcoin surged past $101,000, driven by a combination of the Federal Reserve’s interest rate pause and renewed optimism from U.S.–China tariff relief. Meanwhile, Coinbase is making waves in the derivatives market with a $2.9B acquisition of Deribit, marking a major strategic move that analysts believe poses a serious challenge to competitors. In regulatory news, the SEC and Ripple are seeking court approval for a $50 million settlement, signaling a possible resolution in their long-standing legal battle.

Top Stories

  • Bitcoin tops $101,000 amid Fed rate pause and easing U.S.–China trade tensions.

  • Coinbase to acquire Deribit for $2.9B, posing a significant competitive threat in the crypto derivatives space.

  • SEC and Ripple agree to $50M settlement deal, awaiting judge’s approval to finalize the terms.

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TOP STORIES

Bitcoin Tops $101,000 Amid Fed Pause and Tariff Relief - "The Defiant"

Bitcoin surges 5%, while ETH and SOL rally 14% and 10%, respectively.

thedefiant.io/news/markets/bitcoin-tops-usd101-000-amid-fed-pause-and-tariff-relief

Coinbase (COIN) Buying Deribit for $2.9B a 'Legitimate Threat' for Peers, Wall Street Analysts Say

The acquisition makes Coinbase the largest crypto derivatives platform and a credible rival to Binance.

www.coindesk.com/markets/2025/05/08/coinbase-buying-deribit-for-usd2-9b-a-legitimate-threat-for-peers-wall-street-analysts-say

SEC, Ripple Ink $50M Settlement Agreement, Ask NY Judge for Green Light

District Judge Analisa Torres ordered Ripple to pay the SEC a $125 million fine last year. Under the new settlement agreement, Ripple will get the majority of that money back.

www.coindesk.com/policy/2025/05/08/sec-ripple-ink-usd50m-settlement-agreement-ask-ny-judge-for-green-light

FUNDRAISING

Sonic Labs Completes $10 Million Strategic Financing, Led by Galaxy

Odaily Planet Daily News According to official news, Sonic Labs announced the completion of a $10 million strategic financing of S tokens, led by Galaxy. This cooperation will accelerate Sonic Labs' expansion in the US market and provide key support for the development of its DeFi ecosystem. Galaxy has a network of more than 1,300 institutional counterparties. This cooperation aims to bridge traditional finance with Sonic's high-performance blockchain infrastructure through its resources. Sonic Labs CEO Michael Kong said that Galaxy's joining will bring important market insights and resources to the ecosystem. This cooperation also reflects the confidence of institutions in blockchain technology to transform financial infrastructure.

www.coinlive.com/news-flash/799200

OTHER HEADLINES

News Explorer — Former Celsius CEO Alex Mashinsky Sentenced to 12 Years for Deliberate Fraud and Manipulation - Decrypt

The next-generation media outlet navigating the intersection of culture and technology.

decrypt.co/news-explorer?pinned=1022493&title=former-celsius-ceo-alex-mashinsky-sentenced-to-12-years-for-deliberate-fraud-and-manipulation

Standard Chartered Analyst Apologizes For $120K Bitcoin Price Prediction, Says It Is Too Low 

Standard Chartered’s Head of Digital Assets, Geoffrey Kendrick, is rethinking his bullish bitcoin forecast, and not because he was too optimistic.

bitcoinmagazine.com/news/standard-chartered-analyst-apologies-for-120k-bitcoin-price-prediction-says-it-is-too-low

Ethereum Surges Above $2,000 on Heels of Pectra Upgrade - "The Defiant"

ETH surpassed the psychologically important price level after the upgrade went live without a hitch.

thedefiant.io/news/blockchains/ethereum-surges-above-usd2-000-on-heels-of-pectra-upgrade

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