Tesla&#8217;s search for a new CEO highlights the need for stable leadership to navigate market challenges and sustain investor confidence. The post Tesla board quietly begins search for Musk’s successor amid company challenges: WSJ appeared first on Crypto Briefing.

Tesla board quietly begins search for Musk’s successor amid company challenges: WSJ

A jaw-dropping $800 million bitcoin treasure buried in a landfill is being 
transformed into a global media project, blending real-time drama, tech 
innovation, and environmental warfare. The Buried Bitcoin Docuseries Unleashes 
the Craziest Landfill Treasure Hunt Ever Los Angeles-based entertainment media 
company Lebul announced on April 29 that it has acquired the exclusive rights 
to […]

$800M in Bitcoin Rotting in Trash—Now It’s Headed to Your TV Screen

Bitcoin price is rising again above the $95,000 zone. BTC is gaining pace and 
might aim for a move above the $97,500 resistance zone. Bitcoin remained 
supported above the $94,500 zone. The price is trading above $95,000 and the 
100 hourly Simple moving average. There is a connecting bullish trend line 
forming with support at $96,350 on the hourly chart of the BTC/USD pair (data 
feed from Kraken). The pair could start another increase if it clears the 
$97,500 zone. Bitcoin Price Regains Momentum Bitcoin price formed a base above 
the $93,500 level. BTC started a fresh increase and was able to clear the 
$95,500 resistance zone to set the pace for a larger increase. The bulls even 
pushed the price above the $96,500 resistance. A high was formed at $97,405 
and the price is now consolidating gains. There was a minor decline below the 
$97,000 level and the price tested the 23.6% Fib retracement level of the 
upward move from the $92,970 swing low to the $97,405 high. Bitcoin price is 
now trading above $95,000 and the 100 hourly Simple moving average. There is 
also a connecting bullish trend line forming with support at $96,350 on the 
hourly chart of the BTC/USD pair. On the upside, immediate resistance is near 
the $97,200 level. The first key resistance is near the $97,400 level. The 
next key resistance could be $97,500. A close above the $97,500 resistance 
might send the price further higher. In the stated case, the price could rise 
and test the $98,800 resistance level. Any more gains might send the price 
toward the $100,000 level. Another Decline In BTC? If Bitcoin fails to rise 
above the $97,500 resistance zone, it could start another downside correction. 
Immediate support on the downside is near the $96,500 level and the trend 
line. The first major support is near the $96,000 level. The next support is 
now near the $95,200 zone and the 50% Fib retracement level of the upward move 
from the $92,970 swing low to the $97,405 high. Any more losses might send the 
price toward the $94,500 support in the near term. The main support sits at 
$94,200. Technical indicators: Hourly MACD – The MACD is now gaining pace in 
the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD 
is now above the 50 level. Major Support Levels – $96,500, followed by 
$95,500. Major Resistance Levels – $97,500 and $98,000.

Bitcoin Price Breakout Confirmed — Eyes on Next Key Level

Decentralized finance (DeFi) lending platform Sky has pitched a proposal to 
finalize its upgrade from Maker by replacing its governance token and enabling 
staking.
The proposal, posted on May 1 to Sky&#8217;s decentralized autonomous organization 
(DAO) forum, would see the Sky (SKY) token take over the Maker (MKR) token as 
the protocol&#8217;s governance token.
If the DAO accepts, the change would be slated to take place around May 15 to 
May 19 and downgrading from SKY to MKR would also be disabled.
Sky co-founder Rune Christensen said in response to the proposal that it was a 
&#8220;huge milestone,&#8221; which he &#8220;fully supports,&#8221; and laments that allowing users 
to downgrade from SKY back to MKR has been a &#8220;key limiting factor preventing 
exchanges from adopting SKY.&#8221;
&#8220;With this change, exchanges are likely to move faster in quickly adopting SKY 
without concerns about fracturing liquidity,&#8221; he said.
_Source:__Sky_
Penalties on MKR holders who are slow in switching to SKY have also been 
proposed.
According to the proposal, a 1% delayed upgrade penalty would apply to all MKR 
to SKY upgrades starting Sept. 18, increasing every three months. Users hit 
with a delayed upgrade penalty will also obtain fewer SKY tokens.
## Sky staking, temporary pause on liquidations
Christensen said the most important change would be to see SKY staking enabled 
as part of the changes to the protocol.
Rewards for its decentralized stablecoin, USDS, which are based on the income 
the Sky Protocol generates, will be enabled two or three weeks after the 
upgrade of the governance contract, with a splitter rate of 50%, according to 
Christensen.
_Source:__Rune Christensen_
&#8220;Getting past the full upgrade of MKR to SKY is one of the last pieces missing 
before Sky can transition to 0 fixed costs at the end of 2025, which will 
ensure an even greater portion of the income the protocol generates goes to 
the benefit of SKY buybacks, or SKY Staking Rewards,&#8221; he said.
SKY liquidations will also be temporarily disabled while the one-way MKR to 
SKY transition is still in its early stages.
_**Related:**__**Sky doubles down on token overhaul: Making MKR unusable, 
launching subDAOs**_
&#8220;This is necessary to prevent risk from price manipulation to the SKY and MKR 
price while the transition is happening,&#8221; Christensen said.
&#8220;When SKY market liquidity is restored, Sky Governance will lift the 
liquidation freeze and move risk parameters to long-term targets,&#8221; he added.
Maker rebranded to Sky in August last year but after confusion and negative 
feedback, Christensen considered going back to the original Maker name just 
months later.
However, a November poll saw 79% of tokenholders vote to keep the Sky brand as 
the back end protocol brand with no further changes.
_**Magazine:**__**SEC &#8216;s U-turn on crypto leaves key questions unanswered**_

Sky pitches ousting Maker token, enabling staking, to complete upgrade

Shiba Inu (SHIB) hit a high of $0.00001511 on April 26, 2025, its highest 
value this month in what experts refer to as a see-saw run. The meme coin 
failed to break a significant resistance level that contains a huge chunk of 
all SHIB coins in circulation, as per market information. Related Reading: 
Only XRP? Expert Claims That’s All You Need To Succeed Analysts Point To 
Possible 100% Price Jump Analysts indicate that Shiba Inu may double in price 
if it can break through the lower resistance level close to its monthly high. 
Shattering the higher resistance at $0.000018 would equate to breaking what 
traders refer to as a 540 trillion SHIB sell wall – a pool of coins 
distributed over 152,700 wallet addresses. 🚨 #SHIB READY FOR A BREAKOUT! 🚀 
CHART SHOWS A POTENTIAL TREND REVERSAL WITH A STRONG UPSIDE MOVE COMING. 💥 
WATCH FOR A BREAK ABOVE RESISTANCE TO CONFIRM BULLISH MOMENTUM! 📈 
pic.twitter.com/LwHOBPfwh6 — Market Spotter (@MarketSpotter) April 29, 2025 
Market Spotter indicates that regaining the $0.000014 price level may decide 
SHIB&#8217;s direction for months to come. Almost 40% of those who own the dog- 
themed cryptocurrency are in profit at present. A breakout above $0.000014 
would reverse this figure, leaving the majority of SHIB owners in profitable 
positions for the first time in weeks. Price Stuck In Narrow Trading Range The 
meme coin now trades within a tight 24-hour price range of $0.0000130 to 
$0.00001374, according to recent charts from IntoTheBlock. While prices are 
consolidating, some large investors seem to be adding more. The Chaikin Money 
Flow (CMF) indicator has once again turned positive, indicating renewed buying 
by deep-pocketed traders. Although it has risen more than 10% this month, 
technical indicators are sending mixed signals. The Stochastic Relative 
Strength Index is between 11 and 9, indicating SHIB may be trading below what 
experts view as its fair market value. This is even as trading volumes have 
fallen in recent days. Massive One-Day Token Burn Raises Eyebrows Meanwhile, 
more than 280 million SHIB tokens were irreversibly taken out of circulation 
in one day. Based on tracking platform Shibburn, this is a 38,299% rise in the 
burn rate – an unprecedented increase that surprised many market observers. 
Source: Shibburn Related Reading: Code Wars: Cardano Claims The Crown From 
Ethereum In Core Development This drastic burn lowers the circulating supply 
to around 584 trillion tokens. The SHIB community has long advocated for token 
burning as a means of inducing scarcity, which in theory would drive up the 
value of existing coins by lowering supply. The recent burn is a stark 
reversal following weeks of declining token removal rates. This is seen by 
some as a sign of renewed confidence among &#8220;whales,&#8221; or large investors, as 
well as smaller token holders, but others caution that burn rates alone do not 
necessarily indicate price ascent. Market participants are now closely 
monitoring if the synergy of technicals, increasing whale appetite, and token 
burning aggression will be enough for SHIB to break its strong resistance 
levels. With general market sentiment picking up in cryptocurrencies, the next 
couple of weeks could be crucial for the direction of the price of the popular 
meme token. Featured image from Gemini Imagen, chart from TradingView

Double Trouble Or Double Gains? Shiba Inu Shows Signs Of Reversal Amid Massive Burn

US crypto exchange Kraken has detailed a North Korean hacker&#8217;s attempt to 
infiltrate the organization by applying for a job interview.
&#8220;What started as a routine hiring process for an engineering role quickly 
turned into an intelligence-gathering operation,&#8221; the company wrote in a May 1 
blog post.
Kraken said the applicant&#8217;s red flags appeared early on in the process when 
they joined an interview under a name different from what they applied with 
and &#8220;occasionally switched between voices,&#8221; apparently being guided through 
the interview.
Rather than immediately rejecting the applicant, Kraken decided to advance 
them through its hiring process to gather information about the tactics used.
International sanctions have effectively cut North Korea off from the rest of 
the world, and the country&#8217;s ruling Kim family dictatorship has long targeted 
crypto companies and users to top up the country&#8217;s coffers. It&#8217;s stolen 
billions worth of crypto so far this year.
Kraken reported that industry partners had tipped them off that North Korean 
actors were actively applying for jobs at crypto companies.
&#8220;We received a list of email addresses linked to the hacker group, and one of 
them matched the email the candidate used to apply to Kraken,&#8221; it said.
With this information, the firm&#8217;s security team uncovered a network of fake 
identities used by the hacker to apply to multiple companies.
Kraken also noted technical inconsistencies, which included the use of remote 
Mac desktops through VPNs and altered identification documents.
&gt; Kraken CSO @c7five recently spoke to @CBSNews about how a North Korean 
&gt; operative unsuccessfully attempted to get a job at Kraken. 
&gt; 
&gt; Don&#8217;t trust. Verify 👇 pic.twitter.com/1vVo3perH2 
&gt; 
&gt; &#8212; Kraken Exchange (@krakenfx) May 1, 2025
The applicant&#8217;s resume was linked to a GitHub profile containing an email 
address exposed in a past data breach, and the exchange said the candidate&#8217;s 
primary form of ID &#8220;appeared to be altered, likely using details stolen in an 
identity theft case two years prior.&#8221;
During final interviews, Kraken chief security officer Nick Percoco conducted 
trap identity verification tests that the candidate failed, confirming the 
deception.
_**Related:**__**Lazarus Group &#8216;s 2024 pause was repositioning for $1.4B Bybit 
hack**_
&#8220;Don&#8217;t trust, verify. This core crypto principle is more relevant than ever in 
the digital age,&#8221; Peroco said. &#8220;State-sponsored attacks aren&#8217;t just a crypto 
or US corporate issue &#8212; they&#8217;re a global threat.&#8221;
## North Korea pulls off biggest-ever crypto hack
North Korea-affiliated hacking collective Lazarus Group was responsible for 
February&#8217;s $1.4 billion Bybit exchange hack, the largest ever for the crypto 
industry.
North Korean-linked hackers also stole more than $650 million through multiple 
crypto heists during 2024, while deploying IT workers to infiltrate blockchain 
and crypto companies as insider threats, according to a statement released by 
the US, Japan and South Korea in January.
In April, a subgroup of Lazarus was found to have set up three shell 
companies, with two in the US, to deliver malware to unsuspecting users and 
scam crypto developers.
_**Magazine:**__**Japanese porn star &#8216;s coin red flags, Alibaba-linked L2 runs 
at 100K TPS: Asia Express**_