Global markets surged on Friday, with the Dow Jones (+1.39%), S&P 500 (+1.47%), and Nasdaq (+1.51%) extending their rallies after US non-farm payrolls rose by 177,000 in April—beating expectations and easing recession fears and hopes for renewed US–China trade talks boosted sentiment, with Beijing signaling openness to proposals. In Europe, the Euro Stoxx 600 climbed 1.7%, and the FTSE 100 marked a record 15-day winning streak. However, oil prices continued to slide, hitting a four-year low ahead of the OPEC+ meeting, raising concerns for oil-dependent economies. Gold and Bitcoin both edged lower, while industrial metals gained on trade optimism. Meanwhile, China faces mounting deflationary pressure as it redirects excess US-bound exports to its domestic market. In the US, the labor market remains resilient, but global volatility persists—prompting analysts to recommend a “barbell approach” in emerging markets. European leaders are increasingly viewing Trump’s protectionist policies as an opening for the euro to challenge the dollar’s dominance, even as the US administration now targets the film industry with proposed 100% tariffs on foreign-made movies.
In crypto, the global crypto market cap decreased 1.1% over the past day to $2.95tn. The total crypto market 24h volume increased 12% to $55bn. Bitcoin decreased 1.3% in the past 24h to trade around $94.6k, Ether decreased 1.45%, currently trading around $1,810.
In the past 24 hours, crypto liquidations icreased by 30% and totaled $211.35m, with 80% of them long positions.
US Bitcoin spot ETFs recorded a net inflow of $674.91 million on May 2, 2025, driven entirely by a surge into BlackRock’s IBIT, which absorbed the full amount. All other ETFs posted no net flows for the day, marking IBIT’s largest daily intake in over a month and reinforcing its dominance in the space. Despite subdued flows elsewhere—including zero activity for FBTC, BITB, GBTC, and ARKB—the day extended the broader trend of institutional accumulation, with nine of the last ten sessions ending in net inflows. US Ether spot ETFs saw a net inflow of $20.10 million on May 2, 2025, more than triple the previous session’s $6.49 million total. The entire inflow came from BlackRock’s ETHA fund, while all other Ether ETFs recorded no net activity for the day. The strong single-fund intake marked a shift in flow concentration and extended the weekly momentum of net positive interest.
US crypto ETFs saw a strong return to inflows for the week ending May 2, 2025, with Bitcoin ETFs taking in $1.805 billion and Ether ETFs adding $106.8 million. While totals were lower than the previous week’s peak ($3.033 billion for BTC and $157.1 million for ETH), the gains marked a clear reversal from the prior three consecutive weeks of net outflows. Weekly flows remain well above most earlier levels, suggesting renewed institutional demand and ongoing momentum for crypto ETFs.
The European Union is set to enforce sweeping anti-money laundering (AML) regulations on the cryptocurrency sector by 2027, banning anonymous crypto accounts and privacy-preserving tokens under its new Anti-Money Laundering Regulation (AMLR). Financial institutions and crypto asset service providers (CASPs) will be prohibited from handling anonymity-enhancing coins or maintaining accounts that obscure user identities. As outlined in Article 79 of the AMLR and detailed in the AML Handbook by the European Crypto Initiative (EUCI), the rules target a broad range of financial products, including safe deposit boxes and passbooks. The EU’s Anti-Money Laundering Authority (AMLA) will begin directly supervising select CASPs from July 2027, starting with 40 firms—one from each member state—based on customer count and transaction thresholds. The EUCI noted that while the core rules are finalized, implementation details will follow via delegated acts overseen by the European Banking Authority. The new measures build on MiCA and mark a significant expansion of the EU’s crypto regulatory framework.
Binance has partnered with Kyrgyzstan's government to introduce crypto payment infrastructure and blockchain education, as part of its global expansion efforts, while the country also plans to launch a central bank digital currency and has a growing interest in cryptocurrency mining and regulation.
The New York Post's X account has been compromised by malicious actors who are using it to scam crypto users by sending them private messages and directing them to contact via Telegram, in a tactic that has become increasingly common on platforms like Zoom, where scammers establish trust before stealing crypto assets.
The Maldives has signed a deal with Dubai-based MBS Global Investments to develop an $8.8 billion blockchain and crypto hub in Malé—an initiative that exceeds the country’s $7 billion annual GDP, aiming to reduce reliance on tourism and fisheries, as part of the government’s broader push to diversify the economy and address rising debt levels.
On May 2, 2025, Strategy (formerly MicroStrategy) announced it had raised $21 billion through a new at-the-market equity offering to purchase additional Bitcoin, despite reporting a $4.2 billion net loss in Q1 2025. The company’s latest filing revealed it now holds 553,555 BTC—up from 551,000 at the end of March—making it the largest corporate Bitcoin holder globally. Strategy reported a $5.8 billion Bitcoin-related gain for the quarter and raised its 2025 BTC yield target from 15% to 25%, projecting up to $15 billion in BTC gains by year-end.
The Solana Foundation has fixed a zero-day vulnerability in its Token-22 confidential tokens that could have allowed an attacker to mint and withdraw tokens from user accounts, but the private handling of the issue has raised concerns about centralization in the Solana network.
US-based investment advisory firm Two Prime has announced it is dropping support for Ether (ETH) and adopting a Bitcoin-only strategy, citing concerns over ETH’s volatility and declining performance. In a statement on May 1, the SEC-registered firm said Ether “trades like a memecoin” and no longer aligns with algorithmic trading models, having decoupled from Bitcoin and exhibited erratic multi-standard deviation moves. The shift follows ETH’s 45% year-to-date decline and underperformance in ETF markets, where Bitcoin buying has outpaced Ether nearly 24-to-1. While ETH remains the top altcoin by ETF assets under management, community members were quick to frame Two Prime’s exit as a possible bottom signal.
French police rescued the father of a cryptocurrency entrepreneur on Saturday night after he was held hostage for two days and had a finger severed in a brutal ransom attempt. According to French media, the victim was abducted in Paris by four masked men on Thursday and taken to an Airbnb south of the city, where his captors sent a video of his mutilation to his son, demanding a multimillion-euro ransom. Authorities arrested five suspects aged 23 to 27. The case resembles a growing pattern of violent kidnappings targeting figures in the crypto industry across Europe. Recent incidents include the January abduction of Ledger co-founder David Balland and the December kidnapping of Belgian crypto investor Stéphane Winkel’s wife. Investigators are now probing potential links among the attacks.
Arizona Governor Katie Hobbs has vetoed a bill that would have made Arizona the first US state to hold Bitcoin as part of its official reserves, citing concerns about investing retirement funds in untested virtual currency and joining several other states where similar efforts have failed.
CIA Deputy Director Michael Ellis has declared Bitcoin a matter of US national security, highlighting its growing importance in intelligence and law enforcement operations. Speaking on Anthony Pompliano’s podcast, Ellis confirmed the CIA actively uses Bitcoin in counterintelligence efforts and emphasized the need for the US to maintain strategic leadership in the space amid global competition, particularly with China. His remarks underscore Bitcoin’s evolution from a cypherpunk experiment to a recognized financial asset, though they also highlight tensions between government involvement and crypto’s libertarian origins.
Cannes is aiming to become France’s leading hub for cryptocurrency payments, with plans to enable 90% of local businesses to accept crypto by summer 2025. Backed by Mayor David Lisnard and supported by payment firm Lunu Pay, the initiative targets international tourists and tech-savvy consumers, particularly during events like the Cannes Film Festival. The rollout includes merchant training programs launched earlier this year, starting with retailers on Rue d’Antibes.
After being blocked in South Korea earlier this year due to noncompliance with local registration rules, crypto exchange KuCoin is planning a return to the market, CEO BC Wong told Cointelegraph. The platform was removed from Google Play and Apple Store listings following regulatory orders in March and April. Wong said KuCoin will reenter South Korea only after securing compliance in larger jurisdictions such as the US, EU, China, and India. He also suggested that some regulators may be pushing out global exchanges to make room for domestic players. In Europe, KuCoin’s EU CEO Oliver Stauber noted MiCA has yet to deliver a truly level playing field, as differing national interpretations continue to create operational hurdles.
