Global markets retreated, with the S&P 500 (-0.77%), Nasdaq (-0.87%), and Dow Jones (-0.95%) all closing lower amid mixed trade signals from U.S. officials and growing uncertainty ahead of the Federal Reserve’s rate decision. Healthcare stocks led losses following reports of potential new pharmaceutical tariffs and a controversial FDA appointment. In Europe, equities pared early losses after Germany’s Friedrich Merz secured the chancellorship in a second-round vote, with the Euro Stoxx 600 ending marginally lower (-0.18%). Australian shares edged down (-0.08%) as weak healthcare and consumer data offset gains in energy. Oil prices rebounded sharply on Middle East tensions and Chinese demand optimism, while gold surged above $3,400 as markets braced for Fed commentary.
In crypto, the global crypto market cap decreased 1.6% over the past day to $2.98tn. The total crypto market 24h volume increased 30% to $83bn. Bitcoin increased 2.5% in the past 24h and currently trades around $96.7k, Ether increased 1.6%, currently trading around $1,830.
In the past 24 hours, crypto liquidations increased by 108% and totaled $310.2m, almost equally split between shorts and longs. BTC liquidated positions made up 31.6% of all liquidated positions, with 85% of liquidated positions being shorts.
According to data from SoSo Value, US Bitcoin spot ETFs recorded a net outflow of $85.64 million on May 6, 2025, despite recording a net inflow of $425.5m the day prior. While BlackRock’s IBIT posted a modest $36.73 million inflow, it was outweighed by significant outflows from GBTC (–$89.92m), ARKB (–$16.12m), EZBC (–$8.26m) and HODL (–$8.07m). The reversal in flows may reflect short-term profit-taking after strong institutional demand in prior sessions. ETH ETFs also recorded net outflows totaling $17.9m, all of which came from Fidelity's FETH product.
Coinbase has launched a new payments protocol called x402, which enables instant stablecoin transfers over the internet and allows AI agents to transact autonomously, potentially unlocking a faster and more automated internet economy with new use cases such as micropayments and autonomous AI transactions.
US Democrat lawmakers have introduced legislation, the "MEME Act", and launched an inquiry to prevent President Donald Trump from profiting from his cryptocurrency ventures, including the Trump Coin, which has been traded by millions and earned its creator an estimated $320 million, amid concerns about corruption and conflicts of interest.
A Solana token called LLJEFFY surged 2,115% after rumors spread that Zerebro founder Jeffy Yu died by suicide, but questions arose when the obituary was removed and local coroners reported no deaths matching his surname. The crypto community is speculating that Zerebro developer Jeffy Yu faked his own death, which was livestreamed on Pump.fun, citing unverified evidence including a private letter, suspicious trading activity, and video editing inconsistencies.
Europe's Bitcoin ATM installations have reached an all-time high of 1,767 in May 2025, with over 100 new sites added this year.
New Hampshire has become the first US state to allow its treasurer to invest in cryptocurrencies, including Bitcoin, after Governor Kelly Ayotte signed a bill into law permitting investments in digital assets with a market capitalization of over $500 billion.
Researchers from the decentralized science group HydraDAO have reported a striking breakthrough in spinal cord injury treatment, claiming that paralyzed rats regained mobility just five days after undergoing surgery with a novel compound called neuro-PEG. The experimental therapy, developed under the Dowell Spinal Fusogens project, uses a photopolymerizable PEG-based formulation to fuse severed spinal cords and restore neural function. In a tweet on May 6, HydraDAO posted on X, “the rats are walking,” describing it as a landmark moment for decentralized science. However, medical experts have urged caution, emphasizing the need for peer-reviewed studies and independent replication before drawing broader conclusions about the treatment’s potential in humans.
Citi and SIX Digital Exchange are partnering to launch a blockchain-based platform by 2025 that will tokenize late-stage, pre-IPO equities, making them accessible to global investors and providing a scalable framework for issuers to manage liquidity, as part of a broader trend in real-world asset tokenization.
A cyber threat intelligence expert's investigation uncovered a suspected North Korean operative posing as a Japanese developer, who accidentally exposed ties to a cluster of North Korean threat actors during a dummy job interview, revealing key details about their operations and highlighting the ongoing issue of North Korean operatives targeting the tech industry to generate funds.
NATIX, the decentralized mapping platform, has announced a strategic partnership with Southeast Asia’s leading super app, Grab, to transform global mapmaking. The collaboration combines NATIX’s blockchain-powered crowdsourced data network with Grab’s proprietary camera hardware and AI-driven mapping software, aiming to create more accurate, real-time, and cost-efficient maps. Grab contributes years of experience in high-quality sensor technology and street-level imagery (SLI) processing, while NATIX brings its global Decentralized Physical Infrastructure Network (DePIN) and Drive& app, which incentivizes drivers to collect mapping data. Together, the partnership promises to deliver scalable, constantly updated maps—particularly in underserved regions—while laying the groundwork for advanced mobility and AI infrastructure.
A group of crypto traders made approximately $100 million by buying Melania Trump's memecoins just before their public launch and selling them within 12 hours, amidst controversy and scrutiny surrounding the Trump family's crypto ventures and allegations of conflicts of interest and corruption.
21Shares has launched a European exchange-traded product providing investors with exposure to Crypto.com’s Cronos token. Listed on Euronext Paris and Amsterdam, the ETP offers regulated access to CRO, the native asset of the Cronos blockchain, through traditional financial platforms—eliminating the need for digital wallets or crypto exchanges. Cronos, a layer-1 network affiliated with centralized exchange Crypto.com, is designed to support Ethereum and Cosmos interoperability and power DeFi, NFTs, and Web3 applications. With a market cap of roughly $2.3 billion and $400 million in total value locked, the launch reflects growing investor interest in exchange-affiliated altcoins.
The US Commodity Futures Trading Commission (CFTC) is seeking to drop its appeal of a federal court ruling that allows prediction market KalshiEx to offer bets on political election outcomes. The voluntary dismissal, filed in the D.C. Circuit Court of Appeals, was part of a mutual agreement with Kalshi, with both sides bearing their own legal costs. The original ruling, delivered in September 2024, found the CFTC lacked authority to block Kalshi’s election-based contracts, which now include bets on 2028 presidential nominees and Senate races. Kalshi CEO Tarek Mansour called the decision a milestone for prediction markets, while watchdog group Better Markets criticized the move as a “betrayal of the public interest,” warning it could undermine election integrity and open the door to market manipulation.
Bitwise has filed with the SEC to list a spot Near exchange-traded fund that tracks the price of the NEAR token, joining a growing list of altcoin ETFs under regulatory review, as the company expands its offerings beyond its existing approved Bitcoin and Ether funds.
World Liberty Financial is proposing to airdrop a small amount of its new US dollar-pegged stablecoin to early holders of the WLFI token, with over 99% of votes in favor, as a test of its airdrop mechanism and a reward for early supporters.
