Ndax Weekly TL;DR May 5

• Markets Close Mixed as U.S. GDP Contracts Amid Trade Policy Uncertainty
• North Carolina Advances Crypto Investment Bill Allowing State Fund Allocation to Digital Assets
• Carney to Meet Trump at White House Amid Tensions Over Tariffs and Trade
   

U.S. markets ended April with mixed results amid renewed volatility, driven by a surprise 0.3% GDP contraction and uncertainty over President Trump’s tariff policies. While the Dow rose modestly, the Nasdaq dipped, and the S&P 500 closed slightly higher. The economic slowdown was linked to surging imports, weakening consumer spending, and reduced government expenditures. Trump blamed the downturn on a so-called “Biden Overhang” despite markets reacting primarily to recent tariff measures. Analysts cite policy unpredictability as a key driver of investor unease, with several companies revising forecasts due to trade-related challenges. crypto news

North Carolina’s House of Representatives has passed House Bill 92, which would authorize the state treasurer to allocate up to 5% of government investment funds into approved cryptocurrencies via exchange-traded products (ETPs). To qualify, digital assets must maintain a minimum market capitalization of $750 billion over one year and meet custody and compliance standards. The bill, introduced by House Speaker Destin Hall, now moves to the Senate for consideration. crypto.news

Prime Minister Mark Carney announced he will meet U.S. President Donald Trump on Tuesday at the White House, marking their first in-person discussion since Carney took office. The meeting will address escalating trade tensions, including tariffs imposed by the U.S. under the pretext of fentanyl trafficking and trade deficits. Carney, who has yet to name his new cabinet, emphasized a well-prepared and measured approach to the talks, underscoring Canada’s stance against U.S. annexation rhetoric and unsubstantiated economic claims. The talks may pave the way for a new trade and security framework between the two countries. BNN Bloomberg

Ndax's news feature provides the latest news, stories, and trends to help you keep your hand on the pulse of crypto and blockchain.

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News Nuggets

• Ethereum Developers Drop EOF From Fusaka Upgrade to Prioritize PeerDAS CryptoSlate
• Google Integrates Zero-Knowledge Proofs into Wallet for Private Age Verification CoinDesk
• SEC Extends Review Period for Five Crypto ETF Applications CryptoSlate
• Ripple's $4–5B Acquisition Bid for Circle Rejected Amid IPO Plans crypto news
• Crypto Hack and Scam Losses Hit $364M in April, Driven by Major Bitcoin Theft crypto news
• Strategy Boosts Bitcoin Yield Target to 25% After $5.8B Year-to-Date Gains CryptoSlate
• Solana-Backed Coalition Seeks SEC Approval to Pilot Securities Trading on Public Blockchains CryptoSlate
• EU to Ban Anonymous Crypto Accounts and Privacy Coins by 2027 Under New AML Rules Cointelegraph
• Ethereum Developers Propose New Standards to Streamline Crosschain Transactions Cointelegraph
• El Salvador Continues Bitcoin Purchases Despite IMF Agreement Conditions crypto news

As of 05-05-2025 at 9:00 AM EDT
Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$4.14 trillion to CA$4.05 trillion.
• Bitcoin's market dominance stands at 63.8%, while Ethereum's share is 7.4%.

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$129K and CA$131K registering a 1% change over the past week and a market cap of CA$2.6 trillion. At Ndax, the weekly movers are QNT, which saw a 11% increase in the last seven days reaching a market cap of CA$1.7 billion, and EOS, which experienced a 2% rise with a market cap of CA$1.6 billion. (At time of writing)

Visit our new markets page offering real-time data for almost 15,000 cryptocurrencies. Track trends, monitor your favorite cryptocurrencies, and stay ahead of the market. 
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Mark your calendars!

• May 7 – US FOMC Meeting 
• May 9 – Canada Unemployment Rate Announcement  

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