Wall Street closed out a volatile April with a sharp intraday rebound, as the S&P 500 rose 0.15% after falling more than 2% earlier in the session. The Nasdaq recovered from a similar drop to end just below flat (-0.09%), while the Dow Jones Industrial Average gained 0.35%, marking its longest winning streak of 2025. Q1 US GDP data showed that economy contracted 0.3% on an annualised basis, and core PCE inflation eased to 2.3%, strengthened expectations for a potential Fed rate cut.
In crypto, the global crypto market cap is currently at $2.97tn, with the total crypto market 24h volume increasing 6.7% to $79.74bn. Bitcoin heald steady around $95,000, up 0.25% in 24 hours. Ether is trading around $1,800, up 0.30% in the past 24 hours.
In the past 24 hours, crypto liquidations increased by 28% and totaled $286.64m, with 69% of them long positions.
US Bitcoin spot ETFs saw their first net outflow in eight sessions on April 30, 2025, with a total daily outflow of $56.23 million. A $267.02 million inflow into BlackRock’s IBIT wasn’t enough to offset sizable outflows from Fidelity’s FBTC (-$137.49m), ARKB (-$130.79m), GBTC (-$31.96m), and BITB (-$23.02m). The reversal follows seven consecutive days of net inflows, highlighting IBIT’s growing dominance amid increasingly concentrated institutional flows. US Ether spot ETFs also posted a net outflow of $2.36 million, as a $5.80 million inflow into Fidelity’s FETH was outweighed by outflows from Grayscale’s ETHE (–$7.13 million) and Bitwise’s ETHW (–$1.02 million). All other funds recorded no net activity, marking the first day of aggregate outflows this week and breaking a 4 trading sessions momentum of net inflows.
After issuing over $130 million in loans backed by roughly $227 million in onchain Bitcoin collateral since January, Coinbase has increased the borrowing limit for its Bitcoin-backed USDC loans to $1 million—10 times the previous cap of $100,000.
BlackRock has filed with the US SEC to introduce a new class of “DLT Shares” for its $150 billion Treasury Trust Fund, aiming to record and manage share ownership using blockchain technology. Developed in partnership with BNY Mellon, the initiative would enable transparent, blockchain-based ownership tracking and settlement. The filing represents BlackRock’s latest move to apply distributed ledger infrastructure to traditional financial products, with Ethereum expected to support the tokenized shares through its smart contract capabilities.
Semler Scientific has announced a $15.7 million Bitcoin purchase, acquiring 165 BTC between April 25 and April 29, 2025, at an average price of $94,931. The acquisition was funded through proceeds from its at-the-market (ATM) equity offering, which raised approximately $19.5 million from the sale of 559,000 shares. As of April 29, the company holds a total of 3,467 BTC, valued at $330.6 million based on Coinbase’s closing price, with an average cost basis of $88,263 per coin.
MetaMask has added support for XRP via the XRPL EVM sidechain, enabling users to interact with XRP directly through their MetaMask wallets.
The city of Roswell, New Mexico, has become the first US city to formally launch a municipal Bitcoin reserve, following its receipt of an initial donation of 3,050,323 satoshis (approximately 0.0305 BTC or $2,906). The contribution, confirmed on April 29 by Acting Mayor Juliana Halvorson and Bitcoin expert Guy Malone, marks the creation of the “Roswell Strategic Bitcoin Reserve.” Managed by the city, the fund will be held for at least ten years to accumulate further donations. Once it reaches $1 million, up to 21% may be accessed every five years—with unanimous city council approval—for emergency purposes such as subsidizing senior citizens’ water bills and disaster relief. The public donation address has been disclosed to encourage additional contributions.
KuCoin has launched a $2 billion “Trust Project” to enhance security, transparency, and regulatory compliance across its platform, aiming to close the trust gap in crypto. Announced by CEO BC Wong at TOKEN2049 Dubai on April 30, the initiative focuses on responsible innovation, infrastructure neutrality, and user protection. The move follows KuCoin’s recent expansion into Thailand with a fully licensed local exchange and its February application for a MiCAR license in Austria, as part of broader plans to extend regulated services across 30 EU and EEA countries, with Vienna set as its EU headquarters.
Robinhood reported Q1 2025 revenue of $927 million, down 9% quarter-over-quarter from its record Q4 but still up 50% year-over-year, marking its second-best quarter ever. Net income came in at $336 million, down 63% from Q4, which had been boosted by a one-time $358 million tax benefit. Despite the sequential slowdown, the results highlight strong momentum across the platform: crypto trading revenue doubled to $252 million, Robinhood Gold subscribers jumped 90% YoY to 3.2 million, and total platform assets surged 70% to $221 billion. The company also expanded its buyback program by $500 million, bringing the total to $1.5 billion, and reaffirmed growth plans in banking, advisory, and international markets. Shares rose ~1% in after-hours trading following the earnings release.
Crypto asset manager Galaxy Digital plans to list its shares on the Nasdaq under the ticker GLXY as soon as May 16, pending shareholder approval on May 9, according to founder and CEO Mike Novogratz. The firm has already received SEC approval for its registration statement and has established a public Delaware company to facilitate the listing. Novogratz called the move a “transformative milestone” aimed at expanding investor access to digital assets and AI markets. Galaxy shares last traded at $15.62.
The crypto industry saw $364 million in losses from hacks and scams in April, up 1,163% from March, according to blockchain security firm CertiK. The spike was mainly due to a single $330.7 million Bitcoin theft from an elderly American, now the fifth-largest crypto heist on record. Excluding that case, losses still rose 21% month-over-month to $34 million, with phishing, access control exploits, and price manipulation among the main attack vectors. CertiK also reported $18.2 million in recovered funds during the month, including full reimbursements for KiloEx, Loopscale, and ZKsync, each of which negotiated the return of funds with attackers in exchange for whitehat bounties. Despite the April spike, February remains 2025’s costliest month due to the $1.46 billion Bybit hack.
Blockchain forensics firm Crystal Intelligence will acquire Scam Alerts, a web3 scam reporting platform run by Whale Alert, with the deal expected to close by the end of May. Post-acquisition, Scam Alerts will operate as a non-commercial, standalone entity focused on improving fraud reporting and victim support across the crypto space. Crystal aims to enhance scam prevention and global law enforcement collaboration by aggregating user-submitted fraud data and expanding multilingual, culturally localized reporting tools. Whale Alert will stay on as an advisory partner.