
Marinade and Gorodenkoff/Shutterstock andAdobe modified by Blockworks
Managing Editor’s Note (May 9, 2025 at 6:30 pm ET):
This report has been retracted for falling short of Blockworks’ editorial standards. The headline and body have been updated to reflect this retraction.
Get the news in your inbox. Explore Blockworks newsletters:
- Blockworks Daily: Unpacking crypto and the markets.
- Empire: Crypto news and analysis to start your day.
- Forward Guidance: The intersection of crypto, macro and policy.
- 0xResearch: Alpha directly in your inbox.
- Lightspeed: All things Solana.
- The Drop: Apps, games, memes and more.
- Supply Shock: Bitcoin, bitcoin, bitcoin.