The United States has imposed sanctions on a Myanmar warlord and the militia he leads for their involvement in major cyber scams, including cryptocurrency- related fraud, that have harmed U.S. citizens. U.S. Department of Treasury’s Office of Foreign Assets Control announced…

U.S. sanctions Myanmar warlord and militia tied to cyber scams

Ethereum’s price action may have struggled to gain traction in recent weeks, 
but an interesting long-term macro indicator is showing signs of early 
recovery beneath the surface. Particularly, a macro trend oscillator created 
by a crypto analyst known as Decode on social media platform X has begun to 
exhibit signs of a turnaround after an unusually prolonged stretch of bearish 
run. If confirmed, this would mark the beginning of a new phase of strength 
for the second-largest cryptocurrency by market cap. Shallow Red Bars Begin 
Turning On Ethereum’s Multi-Timeframe Trend Analysis The oscillator’s monthly 
chart, overlaid with Ethereum’s price data on the monthly candlestick 
timeframe, clearly shows how deep and sustained the recent bearish momentum 
has been. The red histogram bars reflecting macro weakness persisted well 
beyond typical durations, highlighting the broader economic drag that has 
weighed on the crypto market. Related Reading: Ethereum CrossX Indicators 
Flashes Buy As Insitution Accumulates, Analyst Says Brace For $4,000 
Interestingly, January of this year briefly hinted at a return to bullish 
territory, but the green print turned out to be a false start and quickly 
faded as the cryptocurrency kicked off another downturn. However, the 
magnitude of recent red bars is notably shallower compared to downturns in 
2023 and 2024. This subtle shift is more apparent on the lower timeframes, 
particularly the 3-day chart, which shows a clean rejection from the negative 
territory and the formation of a small green bar before the current pullback. 
The analyst, Decode, interprets this as a possible early-stage turnaround. 
Once the oscillator turns green in a sustained fashion, a rapid upward move in 
Ethereum and broader crypto prices is likely to follow, following similar 
transitions in the past. Green Phase Will Dominate Soon Looking beyond crypto, 
Decode’s oscillator also tracks the S&amp;P 500 and broader macro trends, where 
the same pattern holds: green phases are not only more prolonged but also 
steeper and more robust. This asymmetric distribution of momentum across time 
reflects the true bias of assets toward expansion over contraction. Decode 
noted that this is not merely an indicator with arbitrary thresholds but a 
fully integrated macroeconomic index built from 17 metrics. These include 
equities, bonds, commodities, currency flows, central bank liquidity (M2), and 
even sentiment data. Related Reading: Ethereum Price Eyes $2,700 As Wyckoff 
Accumulation Nears Completion Translating this into Ethereum, this gradual 
shift toward the green zone is seen as a signal of incoming price strength. 
Although Ethereum has yet to fully recover from its recent correction to 
$1,400, the subtle but consistent improvement in Decode’s macro trend 
oscillator hints that the cryptocurrency may be entering into a fresh uptrend. 
Right now, the focus is on green bars printing consistently again, especially 
across multiple timeframes. At the time of writing, Ethereum is trading at 
$1,830. The last 24 hours have been marked by a brief break below $1,800 
before bouncing at $1,785. This move caused liquidations of approximately 
$35.92 million in ETH positions, with long positions accounting for $28.38 
million of that amount. Featured image from Getty Images, chart from 
Tradingview.com

Ethereum Macro Trend Oscillator Shows Green Might Be On The Horizon

Digital asset investment products saw a surge in momentum, with $2 billion in 
weekly inflows pushing the 3-week total to $5.5 billion. Bitcoin led the 
charge, while ethereum, XRP, and tezos also gained ground. Crypto Investment 
Products Record Best 3-Week Run Since February Investor appetite for digital 
assets is heating up again. According to the […]

Coinshares: Digital Asset Investments Record Staggering $5.5 Billion Inflow Over 3 Weeks

Starting next year, schools in the United Arab Emirates (UAE) will introduce 
artificial intelligence (AI) as a subject for students from kindergarten to 
12th grade. Fostering Awareness of Ethics of the Technology Schools in the 
United Arab Emirates (UAE) will start teaching artificial intelligence (AI) as 
a subject from kindergarten to 12th grade students starting […]

UAE to Teach AI From Kindergarten to 12th Grade

Acting US Attorney for the Eastern District of New York (EDNY) John Durham has 
departed as President Donald Trump&#8217;s pick takes control of the office.
In a May 5 notice, the US Attorney&#8217;s Office for EDNY said Joseph Nocella will 
serve as interim US Attorney for the region for 120 days or until a Senate- 
confirmed nominee assumes the role. Nocella&#8217;s appointment came as jury 
selection began in the criminal trial of Braden John Karony, the former CEO of 
crypto firm SafeMoon.
It&#8217;s unclear how the advancement of Nocella, appointed by US President Donald 
Trump this month, could affect prosecutors&#8217; case against Karony, who faces 
charges of securities fraud conspiracy, wire fraud conspiracy, and money 
laundering conspiracy. Nocella said he intended to help prosecute &#8220;narcotics- 
traffickers, gang members, terrorists, human-traffickers and other criminals.&#8221;
The former SafeMoon CEO asked the court in February to consider pushing back 
the start of the trial based on &#8220;significant changes&#8221; Trump had proposed 
affecting US securities laws, potentially impacting his criminal case.
_**Related:**__**What do crypto users want to happen to Alex Mashinsky?**_
Though not as well known for criminal cases involving high-profile figures in 
the crypto industry, the Eastern District of New York has been responsible for 
overseeing cases against individuals tied to digital assets, including a 
Securities and Exchange Commission (SEC) complaint against Hex founder Richard 
Heart and fraudsters.
Its neighboring district, the Southern District of New York, will oversee the 
sentencing of former Celsius CEO Alex Mashinsky on May 8. Jay Clayton, a Wall 
Street insider and the former chair of the SEC, became the interim US Attorney 
for the district in April.
## Criminal trial to start on May 6
SafeMoon&#8217;s Karony, Kyle Nagy, and Thomas Smith were charged in November 2023 
for &#8220;diverted and misappropriated millions of dollars&#8217; worth&#8221; of the 
platform&#8217;s SFM token between 2021 and 2022. Karony has pleaded not guilty to 
all charges and has been free on a $3 million bond since February 2024.
In a May 5 filing, Karony agreed to have jury selection for his trial proceed 
under US Magistrate Judge James Cho. District Judge Eric Komitee is expected 
to oversee the trial starting on May 6.
_**Magazine:**__**Crypto wanted to overthrow banks, now it &#8216;s becoming them in 
stablecoin fight**_

New York district gets interim US Attorney as ex-SafeMoon CEO trial kicks off

ChatGPT-maker OpenAI has abandoned plans to become a for-profit company and 
reaffirmed commitment to its nonprofit status.
In a May 5 blog post, OpenAI confirmed plans to convert its for-profit 
business unit into a so-called Public Benefit Corporation (PBC), which would 
remain under the nonprofit&#8217;s control. PBCs are for-profit companies that are 
legally obligated to prioritize a social mission alongside the interests of 
shareholders.
The plans mark a reversal for OpenAI, which had previously floated a for- 
profit conversion involving spinning out the nonprofit entity.
&#8220;OpenAI was founded as a nonprofit, and is today overseen and controlled by 
that nonprofit. Going forward, it will continue to be overseen and controlled 
by that nonprofit,&#8221; the ChatGPT-maker said.
This can be done without compromising OpenAI&#8217;s ability to raise funds for AI 
development, which &#8220;currently requires hundreds of billions of dollars and may 
eventually require trillions of dollars,&#8221; OpenAI&#8217;s CEO, Sam Altman, said in a 
letter to employees announcing the decision.
In 2024, OpenAI took a starkly different view, asserting that the for-profit 
entity was &#8220;necessary&#8221; for raising capital to amass the &#8220;vast quantities of 
compute&#8221; needed to run AI models.
_OpenAI &#8216;s May 5 governance announcement. Source: __OpenAI_
 _**Related:**__**OpenAI expects to 3X revenue in 2025 but Chinese AI firms 
are heating up**_
## **Controversial Plans **
OpenAI was originally founded as a nonprofit in 2015, and in 2019 it created a 
for-profit entity purportedly to help AI developers raise funds. The for- 
profit unit has remained under the nonprofit&#8217;s control since then.
In 2024, Tesla CEO Elon Musk &#8212; one of OpenAI&#8217;s cofounders &#8212; sued Altman for 
allegedly &#8220;violating terms of Musk&#8217;s foundational contributions to the 
charity,&#8221; according to a November court filing.
In the lawsuit, Musk alleges Altman &#8220;assiduously manipulated Musk into co- 
founding their spurious nonprofit venture, OpenAI,&#8221; while secretly planning to 
convert OpenAI to a for-profit entity.
Musk has since launched xAI, the developer of AI chatbot Grok, which he said 
has fallen victim to OpenAI&#8217;s allegedly anti-competitive practices.
OpenAI&#8217;s leadership expects its revenue to hit $29.4 billion by 2026, 
Bloomberg reported in March. It forecasts earning revenues of $12.7 billion in 
2025.
In March, OpenAI raised $40 billion from Softbank at a $300 billion valuation.
_**Magazine: **__**Bitcoin to $1M &#8216;by 2029,&#8217; CIA tips its hat to Bitcoin: 
Hodler&#8217;s Digest, April 27 &#8211; May 3**_