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Binance launches crypto-to-bank account payment product in Latin America

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Binance’s Send Cash product will facilitate crypto payments from nine countries to bank accounts based in Argentina and Colombia.

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TeraWulf Q1 loss widens amid rising costs, falling revenue

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Mining firm TeraWulf reported a net loss of approximately $61.4 million in its earnings for the first quarter of 2025, further deteriorating from the same period last year.

Revenue fell to $34.4 million from $42.4 million in the same period of 2024, according to the company’s earnings report, published May 9. Cost of revenue rose sharply to $24.5 million, up from $14.4 million a year earlier.

As a result, TeraWulf’s cost of revenue accounted for 71.4% of total income from operations in Q1 2025, more than double the 34% recorded in the prior-year quarter. In Q1 2024, the company posted a net loss of $9.6 million.

TeraWulf’s profit and loss statement for Q1 2025. Source: TeraWulf

TeraWulf attributed the decreased revenue to Bitcoin’s (BTC) post-halving economics that reduced the block subsidy from 6.25 BTC per block mined to 3.125 BTC per block mined, rising network difficulty, and severe weather in the upstate New York area that is home to a TeraWulf mining facility.

The company is not alone in posting losses for the quarter, as the already competitive mining industry faces reduced block rewards and the macroeconomic uncertainty of geopolitical trade tensions that have created turmoil for financial markets and businesses alike.

Related: Riot Platforms posts Q1 loss, beats revenue estimates

Miners hit by trade tariffs, high uncertainty

The trade tariffs introduced by US President Donald Trump have raised concern among mining companies and analysts that the import duties will drive up the costs of hardware and other physical infrastructure necessary to run crypto nodes.

Rising Bitcoin network difficulty means miners must expend computing resources to mine blocks. Source: CryptoQuant

Imposing tariffs on mining hardware like application-specific integrated circuits (ASICs) will also give miners outside the United States a price advantage over US-based competitors in obtaining the critical equipment needed.

As a result of the ongoing tariff negotiations, miners sold 40% of their mined BTC in March 2025, reversing the post-halving trend of miners accumulating BTC for corporate treasuries or reserves.

March’s sell-off was the highest month for miner BTC liquidations since October 2024 — the month ahead of the 2024 US presidential election, which was pivotal for the crypto industry and represented high uncertainty for businesses and investors.

Related: Illegal arcade disguised as … a fake Bitcoin mine? Soldier scams in China: Asia Express

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Price predictions 5/9: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX

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Key points:

Bitcoin holding $100,000 as a level of support would confirm the current trend change.

Ether leads among altcoins, and DeFi tokens could follow.

Bitcoin (BTC) broke above the psychologically critical $100,000 level on May 8, and the bulls are trying to hold on to the level on May 9. In an X post, CoinGlass said that Bitcoin’s rally resulted in $837.80 million in short liquidations in a 24-hour period, the largest since 2021.

Bitcoin’s rally also lifted several major altcoins, which soared above their respective overhead resistance levels. The altcoin rally was led by Ether (ETH), which surged roughly 22% on May 8, triggering a $328 million liquidation of Ether short positions.

Crypto market data daily view. Source: Coin360

Although the short-term picture has turned positive, Bitcoin bulls are expected to face significant resistance near the all-time high of $109,588. During pullbacks, traders will have to maintain the price above $100,000 to retain the bullish momentum. 

Could Bitcoin continue its upward move and pierce the all-time high? Are altcoins getting ready for a short-term rally? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin rallied more than 6% and closed above the $100,000 barrier on May 8, indicating that buyers have asserted their supremacy.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The BTC/USDT pair could reach the $107,000 to $109,588 zone, where the bears are expected to mount a strong defense. The overbought level on the relative strength index (RSI) suggests a short-term pullback is possible.

If the price turns down from the overhead resistance but finds support at the 20-day exponential moving average ($94,879), it signals a positive sentiment. The bulls will then make one more attempt to push the price above the all-time high.

The first sign of weakness will be a close below the 20-day EMA. That suggests profit booking at higher levels. The pair may then tumble to the 50-day simple moving average ($88,139).

Ether price prediction

Ether (ETH) skyrocketed above the $2,111 resistance on May 8 and extended its up move to nearly $2,550 on May 9.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The long wick on the candlestick shows solid selling near $2,550. If the price turns down from $2,550 but finds support at $2,111, it indicates that the bulls are trying to flip the level into support. The bulls will then make one more attempt to drive the ETH/USDT pair above $2,550. If they succeed, the pair could climb to $2,850.

Sellers will have to pull the price below the $2,111 level to weaken the bullish momentum. The pair may then slide to the 20-day EMA ($1,867).

XRP price prediction

Buyers have pushed XRP (XRP) to the resistance line, which is a crucial near-term level to watch out for.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

Sellers are expected to defend the resistance line aggressively because a break and close above it signals a potential trend change. The XRP/USDT pair could rise to $2.60 and subsequently to $3.

If the price turns down from the resistance line but finds support at the moving averages, it suggests that the bulls are buying the dips. The bulls will then again attempt to propel the price above the resistance line. Sellers will have to tug the price below the $2 support to seize control.

BNB price prediction

BNB (BNB) made a decisive move higher on May 8 and rose above the immediate overhead resistance at $620.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The BNB/USDT pair reached the $644 level on May 9, which is expected to behave as a strong barrier. However, if buyers keep up the pressure and pierce the $644 resistance, the pair could soar to $680.

Time is running out for the bears. If they want to halt the uptrend, they will have to fiercely defend the $644 level and pull the price below the moving averages. The pair could then descend to $580.

Solana price prediction

Solana (SOL) broke and closed above the $153 resistance on May 8, indicating that the bulls are in charge.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The SOL/USDT pair could reach $180, which is expected to behave as a formidable obstacle. If the price turns down from $180 but rebounds off $153, it suggests that buyers are trying to form a higher low. That enhances the prospects of a rally to $200.

This optimistic view will be invalidated in the near term if the price turns down sharply and plummets below the $140 support. That suggests traders are booking profits at higher levels.

Dogecoin price prediction

Buyers successfully defended the moving averages and pushed Dogecoin (DOGE) to the overhead resistance at $0.21.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will try to halt the up move at $0.21, but if the bulls pierce the resistance, the DOGE/USDT pair could rally toward $0.25. If the price turns down from $0.25 but finds support at $0.21, it signals that the bulls have flipped the level into support. That suggests the downtrend could be over.

Contrarily, if the price turns down sharply from $0.21 and breaks below the moving averages, it indicates that the pair may oscillate inside the range for some more time.

Cardano price prediction

Cardano (ADA) bounced off the 50-day SMA ($0.67) and completed an inverse head-and-shoulders pattern on May 8.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($0.69) has started to turn up, and the RSI is in the positive territory, signaling an advantage to buyers. If the price remains above the neckline, the ADA/USDT pair could surge toward the pattern target of $1.01. There is resistance at $0.83, but it is likely to be crossed.

If bears want to prevent the upside, they will have to yank the price below the 50-day SMA. That could sink the pair to $0.60 and eventually to $0.50.

Related: Chance of Bitcoin price highs above $110K in May increasing — Here’s why

Sui price prediction

Sui (SUI) rallied sharply from the 20-day EMA ($3.29) and climbed above the $3.90 overhead resistance on May 8.

SUI/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA and the RSI near the overbought zone signal that the bulls are in command. If the price maintains above $3.90, the SUI/USDT pair could rally to $4.25 and eventually to $5.

Alternatively, if the price turns down and closes below $3.90, it suggests that the bears are trying to make a comeback. The pair could then slump to the 20-day EMA, which is likely to act as solid support.

Chainlink price prediction

Chainlink (LINK) turned up sharply from the 50-day SMA ($13.72) on May 8 and completed an inverse head-and-shoulders pattern. 

LINK/USDT daily chart. Source: Cointelegraph/TradingView

Sellers are trying to pull the price back below the neckline, but if the bulls successfully hold the level, the LINK/USDT pair could break above the resistance line and rally toward the pattern target of $21.30.

This optimistic view will be negated if the price turns down sharply and breaks below the moving averages. That opens the doors for a fall to $12, indicating that the pair may remain inside the channel for a while longer.

Avalanche price prediction

Avalanche (AVAX) bounced off the moving averages on May 8 and reached the overhead resistance of $23.50 on May 9.

AVAX/USDT daily chart. Source: Cointelegraph/TradingView

Sellers are expected to defend the $23.50 level with all their might because a break and close above the resistance could clear the path for a potential rise to $28.78 and, after that, to $31.73.

On the contrary, if the price turns down sharply from $23.50 and breaks below the moving averages, it suggests that the AVAX/USDT pair may extend its stay inside the range for a few more days.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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US VP Vance to speak at Bitcoin conference amid Trump crypto controversies

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US Vice President JD Vance will speak at the Bitcoin 2025 conference in Las Vegas, roughly a year after then-presidential candidate Donald Trump spoke at the same event.

According to a May 9 notice from the event’s organizers, Vance will address conference attendees in person on May 28, making him the first sitting US vice president to speak at a digital asset conference.

Trump provided a pre-recorded video of himself from the White House to the organizers of the Digital Asset Summit in March — his first appearance at a crypto event since taking office in January — and spoke in person at the Bitcoin 2024 conference in Nashville while campaigning.

Though Vance is a Bitcoin (BTC) holder — he holds $250,000 to $500,001 worth of the cryptocurrency, according to a financial disclosure filed in August 2024 — it’s unclear whether the vice president intends to make a substantive policy statement at the event. Cointelegraph reached out to Vance’s office for comment but had not received a response at time of publication.

Related: Resurfaced clip shows Trump’s VP pick slamming Gensler’s approach to crypto

Since taking office alongside Trump in January, Vance has largely stayed out of the media spotlight in terms of crypto-related policy. The president has signed executive orders on establishing a crypto reserve and regulating stablecoins, while Vance’s involvement with overseeing the industry seemed to be limited to speaking on AI regulation.

Two of the president’s sons, Donald Trump Jr. and Eric Trump, who are tied to the crypto platform World Liberty Financial, were also scheduled to speak at the May event. Many lawmakers have expressed concerns that the platform, backed by the Trump family, is being used to personally enrich the president.

Trump’s ties to crypto holding up legislation?

The vice president’s appearance at the crypto conference was announced the same week Democratic lawmakers in the House of Representatives and the Senate strongly criticized Trump’s connections to the crypto industry. 

In the House, Representative Maxine Waters halted a joint hearing discussing a crypto market structure bill and led a group of lawmakers to explore “Trump’s crypto corruption.” In the Senate, nine Democrats blocked a crucial vote on a stablecoin bill, saying the legislation lacked certain safeguards, hinting at the Trump family enriching itself through the USD1 stablecoin issued by World Liberty Financial.

Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

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