Wall Street extended its rebound on Wednesday, buoyed by strong earnings and signs that President Trump may ease his trade stance. The Dow (+1.1%), S&P 500 (+1.7%), and Nasdaq 100 (+2.3%) all posted solid gains, supported by tech and industrial names. Reports that tariffs on Chinese goods could be phased out over five years, along with reassurance that Fed Chair Powell’s position is secure, helped reduce geopolitical uncertainty. Investors are now looking ahead to today’s US initial jobless claims for further clues on labor market health.
In crypto, the global crypto market cap decreased 1.15% in the past 24 hours to $2.89tn. The total crypto market 24h volume decreased 22% to $105bn. Bitcoin is down 1.27% in the past day, now trading around $92,300. Ether is down 1% in 24 hours, currently trading around $1,770.
In the past 24 hours, crypto liquidations decreased by 48% and totaled $325.18m, with 56% of them long positions.
According to data from SoSoValue, US Bitcoin spot ETFs recorded total net inflows of $916.9 million on April 23, 2025, marking the third-largest daily inflow this year. BlackRock’s IBIT led with $643.16 million, followed by ARKB (+$129.50m) and Fidelity’s FBTC (+$124.37m). Other contributors included BTC (+$29.84m) and HODL (+$5.28m). While BITB saw minor outflows (-$15.25m), the broader trend remained firmly positive, underscoring continued institutional demand amid stabilizing macro conditions. US Ether spot ETFs recorded total net outflows of $23.88 million on April 23, 2025, driven by a $30.28 million withdrawal from BlackRock’s ETHA. Grayscale’s ETH was the only ETF to see positive activity, with a net inflow of $6.4 million, partially offsetting the broader negative flows.
Following the official announcement that the top 220 TRUMP tokenholders would be invited to a private dinner with President Donald Trump on May 22, whale activity around the memecoin spiked, according to on-chain data from Lookonchain. One whale immediately spent $5 million USDC to acquire 407,467 TRUMP at $12.27, only to sell the tokens less than 30 minutes later for $5.73 million—locking in a $731.8K profit. A longtime liquidity provider withdrew over $5.5 million in assets—split evenly between TRUMP and SOL—now placing two wallets in the top 220, making them eligible for 2 invites for the event. A dormant whale wallet also reappeared, withdrawing $1.5 million USDC from Binance to buy over 123,228 TRUMP, possibly in a bid to secure a spot at the dinner. In contrast, a large TRUMP holder exited too early, dumping 630,339 TRUMP for $5.48 million just hours before the news broke.
Following the announcement at around 18:00 CET, the price of the TRUMP token surged approximately 54%, climbing from $9.30 to $14.32. It is currently up 28.7% in the past 24 hours.
The US Securities and Exchange Commission (SEC) will host its second crypto policy roundtable tomorrow, April 25, focusing on digital asset custody. The event is part of a four-part series by the SEC’s Crypto Task Force and will feature senior SEC officials, including newly sworn-in Chairman Paul S. Atkins, alongside representatives from firms like Fireblocks, BitGo, Anchorage Digital, Fidelity Digital Assets, and Kraken. The agency announced on April 23 via X that newly appointed SEC Chair Paul S. Atkins will deliver his inaugural remarks at the event.
Russia’s Finance Ministry and Central Bank are planning to launch a regulated cryptocurrency exchange exclusively for “super-qualified investors” as part of an experimental legal regime. The initiative, aimed at bringing crypto operations into a formal framework, would restrict access to individuals meeting high wealth or income thresholds. While the final criteria are still under discussion, financial institutions like the Moscow and Saint Petersburg stock exchanges have expressed readiness to offer crypto-related products.
PayPal announced plans to launch a new rewards program this summer, offering U.S. users 3.7% annual returns on their PayPal USD (PYUSD) stablecoin holdings. The rewards, paid out in PYUSD, can be spent, transferred, or converted to fiat via PayPal and Venmo, as the company looks to boost adoption of its digital dollar in a competitive stablecoin market.
DeFi Development Corporation, formerly known as Janover, has acquired an additional 65,305 SOL valued at approximately $9.9 million, bringing its total treasury holdings to 317,273 SOL.
The hacker behind the $5 million ZK token exploit has returned the stolen funds after accepting a 10% bounty, according to a statement from ZKsync on April 24. The attacker, who drained unclaimed tokens from an admin wallet tied to the protocol’s airdrop, cooperated with the team and met the “safe harbor” deadline — a grace period that allows hackers to return stolen assets without legal repercussions. The funds are now in the custody of the ZKsync Security Council, which will oversee the governance process to determine their future use.
