The crypto market saw several notable developments today, May 2, 2026, including the Ethereum Foundation’s latest ETH sale to BitMine, MoonPay’s new AI-enabled stablecoin card, and a sharp decline in venture capital funding across the sector. Here is a breakdown of the key stories shaping the industry.
Ethereum Foundation Sells Another 10,000 ETH to BitMine
The Ethereum Foundation has completed its third over-the-counter (OTC) sale of ETH to BitMine Immersion Technologies, selling 10,000 ETH at an average price of $2,292 per coin, totaling approximately $22.9 million. The Foundation stated on X that the funds will support core operations, protocol research and development, ecosystem growth, and community grants.
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This sale follows a similar transaction just one week earlier, when 10,000 ETH were sold at $2,387 per coin. The Foundation’s first sale to BitMine occurred in March, with 5,000 ETH sold at around $2,043. In total, the Foundation has sold roughly $47 million worth of ETH to BitMine in the past week alone. The move comes after the Foundation unstaked 17,035 ETH, worth about $40 million, last week, seemingly stepping back from its stated goal of maintaining 70,000 staked ETH.
MoonPay Launches AI-Enabled Stablecoin Card with Mastercard
MoonPay has introduced a virtual debit card that allows both human users and AI agents to spend stablecoins directly from self-custodied wallets at any merchant that accepts Mastercard. The card connects onchain wallets to traditional payment rails, converting stablecoins into fiat at the point of checkout.
Transactions are authorized via smart contracts at the moment of purchase, eliminating the need to preload funds or move assets offchain. If a payment is declined, funds are returned immediately. This launch aligns with broader industry efforts to support AI-driven payments. Coinbase is also building similar infrastructure, and Visa has released tools for developers to integrate programmatic payments for AI agents.
Why This Matters for the Crypto Ecosystem
The MoonPay card represents a significant step toward bridging decentralized finance with everyday commerce. By enabling AI agents to make autonomous payments, it opens new possibilities for automated subscriptions, machine-to-machine transactions, and decentralized finance (DeFi) integrations. For users, it offers a effortless way to spend stablecoins without relying on centralized intermediaries.
Crypto VC Funding Plunges to $659 Million in April
Venture capital funding in the crypto industry fell sharply in April, reaching a near two-year low. According to CryptoRank data, crypto VC funding totaled $659 million across 63 rounds, down 74% from $2.6 billion across 84 rounds in March. This is the lowest monthly sum since July 2024, when projects raised $622 million across 132 rounds.
Year-to-date investments now stand at $5.64 billion. The decline suggests venture investors are becoming more selective as crypto markets remain under pressure from weaker liquidity and reduced risk appetite. Monthly VC funding has been falling since October 2025, when projects raised $3.84 billion. The global crypto market cap has dropped 37% since then, according to CoinGlass data.
DeFi protocols attracted the most deal activity in April, with 12 funding rounds, followed by blockchain services and AI-linked crypto projects, each with eight rounds.
Conclusion
Today’s stories highlight a mixed field for crypto: the Ethereum Foundation continues to raise funds through OTC sales, MoonPay is expanding payment infrastructure for both humans and AI agents, and VC funding is contracting as investors exercise caution. These developments reflect an industry handling both innovation and market headwinds.
FAQs
Q1: Why is the Ethereum Foundation selling ETH?
The Ethereum Foundation sells ETH to fund its core operations, including protocol research and development, ecosystem support, and community grants. The sales are conducted over-the-counter to minimize market impact.
Q2: How does MoonPay’s new card work?
MoonPay’s virtual debit card allows users and AI agents to spend stablecoins directly from self-custodied wallets. It converts stablecoins to fiat at checkout via smart contracts, without requiring users to preload funds.
Q3: What caused the drop in crypto VC funding in April?
The decline in VC funding is attributed to broader market pressures, including weaker liquidity and reduced risk appetite among investors. The global crypto market cap has fallen 37% since October 2025, contributing to more selective investment.
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