Cryptocurrencies extended their gains from Monday with Bitcoin breaching the $7,000 mark for the first time since early August.
As of 10.48 am ET, Tuesday, overall cryptocurrency market capitalization grew to $229.67 billion and the Bitcoin dominance rate was 53 percent on CoinMarketCap.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Baidu, Alibaba, Tencent Block Crypto-related Activities
Chinese internet giants Baidu, Alibaba and Tencent have blocked cryptocurrency-related activities on their platforms. The move comes as the regulators in the country are intensifying crackdown on cryptocurrencies. Read more...
DPW To Operate Crypto Mining Farm With Power From NY Hydroelectric Dam
A crypto miner is converting a New York-based hydroelectric dam into a crypto mining farm, aiming to take advantage of low-cost, renewable energy. DPW Holdings announced that its Super Crypto Mining subsidiary will build and operate a co-located cryptocurrency mining farm using the power generated from Valatie Falls hydroelectric dam in New York State. Read more...
Russia's Gazprom, S7 Airlines Develop Blockchain-based Refueling Settlement
Russia's state-owned oil company Gazprom Neft has partnered Russian airline S7 to develop and implement a blockchain-based aviation refueling and payment settlement system using smart-contracts. Gazpromneft-Aero is the operator of the Gazprom Neft's aviation refueling business. Read more...
Samsung SDS Builds Blockchain-based Co-verification Service For Korean Banks
Conglomerate Samsung's IT arm Samsung SDS has partnered with the Korea Federation of Banks to develop a co-verification service dubbed "BankSign" for banks which is powered by blockchain technology. KFB formed the banking blockchain consortium with domestic financial institutions in November 2017, and immediately started the development of BankSign, with its beta testing starting in April. Read more...
TV Reality Show On Blockchain To Premiere On October 19
A television talent show centered around blockchain expertise will premiere on Asia Economy TV on October 19. The blockchain survival television show titled 'Blockbattle - Who's the Next Satoshi' will pit blockchain development teams from around the world. The winner will be crowned the next Satoshi Nakamoto, and handed over 100 million Won or $89748 as prize-money. Read more...
Current Prices
As of 10.49 am ET, Bitcoin was up 5.1 percent at $7,059.01 and Ethereum was higher by 4.74 percent at 289.42 on Coinbase.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.