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Crypto

Crypto investment products see bigger net inflows, led by bitcoin rebound

Crypto funds recorded $1.2 billion in net inflows in the week ended April 24, extending inflows to four consecutive weeks. Total assets under management rose to $155.276 billion, the highest since Feb. 1, as bitcoin rebounded above $77,000 for the first time since a February correction. Bitcoin products took in $932.5 million, while Ethereum products saw $192.4 million. Inflows also expanded to Solana and XRP, while multi-asset products saw outflows.

AI & Enterprise

Europe steps up battle to cut reliance on US big tech as cloud law, political tensions intensify

European governments are expanding efforts to reduce reliance on U.S. software and cloud services and shift to European “sovereign technology.” The trend is linked to concerns over the 2018 U.S. CLOUD Act, which can require U.S. firms to provide access to data stored abroad. France is moving health data off Microsoft Azure to a sovereign cloud provider, and the European Commission has awarded sovereign cloud contracts to several European firms.

Crypto

More than 1 in 3 U.S. crypto traders cut daily spending after market slide

More than 1 in 3 U.S. cryptocurrency traders have reduced daily spending amid the recent market downturn, a CEX.IO survey of 1,100 active U.S. users showed. The survey found signs that unrealised losses are weighing on household finances, with respondents delaying or cancelling purchases and some using savings to stay financially stable. Despite the strain, most said their income sources were unchanged and many planned to hold or increase positions.