Global markets were mildly positive on Tuesday, with the Dow Jones (+0.32%), S&P 500 (+0.09%), and Nasdaq (+0.02%) edging higher. The US trade outlook remained in focus after President Trump's recent tariff comments and a potential US-China deal. Meanwhile, the National Association for Business Economics (NABE) downgraded its 2025 growth outlook to 1.3% and the EU cut its growth forecast due to tariff uncertainty. The UK and EU agreed on a post-Brexit reset, and investors eyed the impact of US tariffs on global trade. The US dollar and other currencies saw minimal movement, with investors watching for upcoming macro events and central bank responses to trade tensions.
In crypto, the global crypto market cap increased 3.3% in 24h to $3.36tn. The total crypto market 24h volume decreased 9% to $130bn.
In the past 24 hours, crypto liquidations decreased 67% and totaled $222m, with 66% of them short positions. ETH positons made up more than 36% of all liquidated positions.
US Bitcoin spot ETFs extended their winning streak on May 19, 2025, pulling in $667.44 million, more than 2.5x the prior day's inflows as well as the highest daily total since early May and capping a four-day run that has now attracted $1.36 billion. BlackRock’s IBIT led once again with a massive $305.92 million inflow, followed by Fidelity’s FBTC ($188.08m) and Ark’s ARKB ($155.25m). Smaller inflows were recorded across Bitwise, VanEck, and others, while only Invesco’s BTCO posted a notable outflow ($5.27m). US spot Ether ETFs recorded a modest net inflow of $13.66 million on May 19, 2025, extending their two-day rebound to $35.78 million after Thursday’s pullback. The entire inflow came from BlackRock’s ETHA fund, while all other ETFs saw flat flows despite a nearly 3% drop in ETH’s price. Trading volumes remained elevated, with ETHA alone clearing $246 million, suggesting ongoing interest in Ether exposure even as price action cooled. Total net assets across Ether ETFs dipped to $8.72 billion, reflecting the broader decline in ETH’s value.
JPMorgan CEO Jamie Dimon announced that the bank will allow clients to buy bitcoin, but not custody it, while reiterating his skepticism about crypto assets and their potential use in illicit activities.
The US Senate has voted 66-32 to advance the GENIUS Act, a bill regulating stablecoins, which will now proceed to debate on the Senate floor with the goal of passing it by May 26, Memorial Day in the US.
The US Department of Justice is investigating a data breach at Coinbase, where Indian customer service agents accepted bribes to access user data, resulting in social engineering attacks and estimated losses of up to $400 million, with the company cooperating with law enforcement and facing several lawsuits from affected users.
US President Donald Trump is expected to host a private event in 2 days on May 22 at the White House for up to 220 people who have purchased significant quantities of his memecoin, sparking controversy and criticism from lawmakers who accuse him of potentially opening the White House to bribes and conflicts of interest.
Crypto drainers are malicious scripts that steal cryptocurrency by tricking users into connecting their wallets and authorizing transactions, often through phishing attacks or compromised social media accounts, and can be sold as a service, known as Crypto Drainers-as-a-Service, which provides ready-to-use malware kits to cybercriminals.
Strategy (formerly MicroStrategy) acquired 7,390 BTC for approximately $765 million last week, according to a May 19 filing with the U.S. Securities and Exchange Commission. The purchase, hinted at by chairman Michael Saylor in a May 18 post on X, came as Bitcoin traded above $103,000. The filing also revealed that Strategy and key executives, including Saylor, are facing a class-action lawsuit in the Eastern District of Virginia, accusing them of misleading investors about the risks and profitability of their Bitcoin strategy. As of May 18, Strategy holds 576,230 BTC—worth over $59 billion—up 47% from its $40.2 billion cost basis.
Dubai's Virtual Assets Regulatory Authority has updated its rulebooks to enhance market integrity and risk oversight, requiring licensed digital asset companies to comply by June 19 with new regulations on margin trading, token distribution, and other activities.
Tether, the issuer of the world's largest stablecoin USDT, has surpassed Germany's holdings of United States Treasury bills, with over $151 billion in reserves, demonstrating the effectiveness of its diversified reserve strategy in navigating cryptocurrency market volatility.
Binance is asking a US federal judge to send a class-action lawsuit alleging it sold securities to arbitration, citing a clause in its terms of service that requires users to arbitrate all claims and waives their right to form a class action.
Crypto.com and Canary Capital are launching a US investment fund, the Canary CRO Trust, to provide accredited investors with exposure to the Cronos blockchain's native token, CRO, in a regulated fund wrapper.
Chinese news outlet Landian News reported on May 19 that Chinese printer manufacturer Procolored has been distributing bitcoin-stealing malware alongside its official drivers, resulting in the theft of over $953,000 worth of Bitcoin by hijacking users' wallet addresses in their clipboards and replacing them with the attackers' addresses.
Revolut, a European neobank with crypto support, plans to invest over 1 billion euros in France, apply for a local banking license, and set up its new EU-serving headquarters in Paris, as part of its aggressive expansion plans to increase its user base and comply with regulatory requirements across multiple jurisdictions.
An Australian court decision has ruled that Bitcoin should be treated as money rather than a taxable asset, potentially exempting it from capital gains tax and opening the door to $640 million in tax refunds on Bitcoin transactions.
Franklin has launched Payroll Treasury Yield, a solution that uses blockchain lending protocols to help companies earn returns on idle payroll funds by depositing them into decentralized finance lending pools, while maintaining access to their capital and reducing risk through audited smart contracts.
Quantum Biopharma, a Canadian biotechnology company, has increased its cryptocurrency holdings to approximately $4.5 million by purchasing an additional $1 million worth of Bitcoin and other cryptocurrencies, with plans to stake a portion to generate revenue and provide a hedge against the Canadian dollar.
Ripple has launched a cross-border blockchain payment system in the United Arab Emirates, which is expected to increase cryptocurrency adoption in the country, by partnering with local banks and fintech companies to provide fast and transparent payments, following its licensure by the Dubai Financial Services Authority.
Circle, the issuer of the USDC stablecoin, is pursuing an initial public offering with a target valuation of at least $5 billion while also exploring potential sales to Ripple or Coinbase, amid improving market conditions for crypto IPOs.
Indonesian fintech firm Digiasia Corp's stock price surged over 90% after announcing plans to raise $100 million to seed its first bitcoin purchase and allocate up to 50% of its net profits to fund future bitcoin acquisitions.
