Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Bitcoin Breaks $99,000

Bitcoin has surpassed $99,000, with the current price at $98,907, representing a 24-hour price increase of 2%.

G7 to Address North Korea's $1.5 Billion Crypto Theft at Summit

North Korean hackers have been accused of stealing over $2.8 billion in digital assets between 2023 and 2025, with a major $1.5 billion theft targeting Bybit in February 2025. The G7 summit in Canada this June will address the issue. "The G7 summit will be a pivotal moment for global cybersecurity cooperation, particularly in addressing the ongoing threat posed by North Korean cyber activities," stated Mark Carney, the Prime Minister of Canada.

The hacking operations help North Korea finance weapons of mass destruction, heightening the urgency for an international response against these cyber threats.

US Banks Can Finally Offer Crypto Services Without Regulatory Hurdles

According to the latest announcement, US banks may offer related services, including asset settlement, trade execution, recordkeeping, valuation, and tax reporting. These activities must follow applicable laws and customer agreements.

Also, the OCC reaffirmed its guidance from previous letters, which recognize crypto custody as a modern form of traditional bank custody services.

Fed Stagflation Risk Signal Could Be Bullish for Bitcoin, Analyst Says

The Federal Reserve is growing increasingly alert to stagflation risks-an uneasy mix of slowing growth and rising inflation that could challenge policymakers.

While Chair Jerome Powell insisted that the economy is in "good shape" and emphasized that the central bank is in “a good position to wait and see,” prior to shifting policy, subtle changes in the central bank's policy statement pointed to heightened concerns over the economy's direction.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Wednesday was 105.12 million. The total net asset value of Bitcoin spot ETFs is $111.93 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.89%.

The Bitcoin spot ETF with the highest net inflow on May. 7 was ARK 21Shares Bitcoin ETF , with a net inflow of $54.73 million. Following that was Fidelity Wise Origin Bitcoin Fund, with a net outflow of 39.92 million, according to SoSoValue.