QCP Capital analyzed that US President Trump announced a 10% tariff on all imported goods and implemented "reciprocal tariffs" for countries with large trade deficits, triggering global trade tensions. As a result, the price of Bitcoin plummeted from a high of $88,500 to $81,200, erasing previous gains and leading to widespread liquidation in the crypto market, with more than $221 million in long positions being closed, and BTC falling more than ETH. At the same time, US stock futures also suffered a heavy blow, with S&P 500 futures falling 3.38% and Nasdaq 100 futures falling 4.28%. The market focus now turns to tonight's US non-farm payrolls report, and weak data may strengthen expectations of further interest rate cuts by the Federal Reserve this year. The market currently expects four interest rate cuts in 2025, in June, July, September and December, with each cut of 25 basis points. In the short term, volatility in the options market remains high, and investors tend to buy downside protection, reflecting the uncertainty and cautious attitude of market sentiment. However, with risky assets oversold, there may be opportunities for a rebound in the short term.
Arthur Hayes, co-founder of BitMEX, said that global economic imbalances will be alleviated by printing money, which is good for Bitcoin and gold in the medium term. He pointed out that the US dollar is weakening, foreign investors are selling US tech stocks and transferring funds back to their own countries, and suggested that China should deal with tariff pressure by easing domestic credit flows overseas and letting the RMB exchange rate fall below 8.00. He predicted that the Federal Reserve may soon cut interest rates and restart quantitative easing to deal with the economic impact, and suggested that the Bank of Japan expand QE through a weak yen policy to push the USD/JPY exchange rate above 160. He stressed the importance of patience, flexibility and liquidity.
MEET48, the first AI-Agent and AIUGC creator and fan economy ecological community in the global WEB3.0 focusing on the entertainment field, announced the completion of the token round of financing. The FDV valuation of the token round is 100 million US dollars. It is led by Liang Xinjun, co-founder of Fosun Group, Hash Global and HashKey Capital, and followed by Animoca, Infinity Labs, Promontory, Oak Grove and many Web3 professionals. The new funds will be used to support the development of its team and the development of related AI products. It is reported that the MEET48 ecological community will provide users with one-click customization of virtual idol AI Idol-Agent with autonomous interactive capabilities, realizing multiple functions such as chat, live broadcast, virtual performance, etc., and using the world's leading AIGC technology in the vertical field of virtual music and dance to efficiently generate AI graphics, songs, and dance content. At the same time, the community will also provide AI exclusive creation tools AIShowBOX, which supports in-depth creation such as 3D image customization and intelligent choreography, to help users automate operations and spread Idol-Agent globally. MarsProtocol, the MEME development and launch platform supporting the MEET48 community, will soon be launched on the BNB chain, providing a tokenized trading platform for MEME creators and a source of AI creators for the entire ecological community. In addition, the MEET48 metaverse, the AI-AGENT social base of the MEET48 ecological community, the AI-AGENT large-scale music and dance simulation game and the AI-AGENT large-scale casual game will also be launched one after another and use the same governance token for community incentives and management. The MEET48 ecological community advocates the concept of value growth of UGC content creation and popularity development supporting tokens. Our goal is to provide users with a WEB3.0 benign development platform where content development replaces random hot spots and value investment replaces capital speculation.
According to Onchain Lens, 425,266 SOL (worth about $49.78 million) were unlocked an hour ago. Among them, 284,147 SOL (worth about $33.27 million) have been transferred to exchanges such as Binance, Kraken and Coinbase.
According to Ember Monitoring, the price of IMX rose after the SEC concluded its investigation into Immutable. A whale or institutional account took advantage of the situation and sold 17.17 million IMX (about $9.67 million) in the past 8 days at an average price of $0.56. After the announcement of the end of the investigation, the account transferred IMX to the institutional brokerage platform FalconX, and then transferred it from FalconX to Binance.
Coinbase Derivatives announced that it has submitted an application to the U.S. Commodity Futures Trading Commission (CFTC) to launch an XRP futures contract, which is expected to go live on April 21, 2025.
According to official news from PsyFi, the provider of financial instrument products in the Solana ecosystem, PsyFi (including PsyLend and Vaults) will shut down all front-end and back-end services and stop platform support on May 1, 2025. The platform has now entered a withdrawal-only mode, and the official reminds users to complete the withdrawal of funds before this date to ensure the safety of their assets. In addition, PsyFi stated that it may share the contract address and IDL in the future so that users with needs can interact directly with smart contracts.
According to Onchain Lens, Circle minted an additional $250 million USDC on the Solana blockchain 5 hours ago. So far, Circle has minted a total of $11.75 billion USDC on Solana in 2025.
Bruce Kasman, chief economist at JPMorgan Chase, warned that if the tariff policy implemented by the Trump administration continues, it could push the U.S. and global economies into recession in 2025. He pointed out that the risk of a global recession this year has risen from 40% to 60%. Kasman said that these tariffs are the largest tax increase on American households and businesses since 1968, and their impact may be amplified by retaliatory measures, deteriorating business sentiment and supply chain disruptions.
According to the announcement of Coinbase International Exchange, it will launch perpetual contract transactions for four projects, NIL, VINE, GUNZ and Definitive, on the international site and Advanced platform from 9:30 UTC on April 10, 2025. The codes are NIL-PERP, VINE-PERP, GUN-PERP and EDGE-PERP respectively.
The Nasdaq's decline once widened to 5.8%, which is expected to be the biggest single-day drop since March 2020. The S&P 500 is now down 4.1%, which is expected to be the biggest single-day drop since September 2022.
According to CoinDesk, Ethereum developers have officially set the launch date of the Pectra upgrade mainnet as May 7, 2025. This upgrade is the largest system update since March 2024, including 11 improvement proposals (EIPs), focusing on wallet contract functions (improving usability and recovery capabilities) and EIP-7251 (increasing the upper limit of a single node's stake from 32 ETH to 2048 ETH). The upgrade has been successfully run on the Hoodi testnet.
According to Blockworks, asset management agency WisdomTree has expanded its RWA platform WisdomTree Connect to EVM-compatible chains such as Base, Arbitrum, Avalanche and Optimism, and launched 13 tokenized funds for institutions, including stock index, fixed income and asset allocation funds. The platform uses soulbound NFT for wallet marking to achieve on-chain point-to-point transmission. The current market value of WTGXX money market fund is US$108 million.
According to Eleanor Terrett, Paul Atkins, the nominee for chairman of the Securities and Exchange Commission (SEC), has been approved by the Senate Banking Committee and will be submitted to the full Senate for confirmation. No Democratic member supported the nomination in this vote.
According to CoinDesk, the cross-chain interoperability protocol Hyperlane will airdrop the token $HYPER on April 22, with 57% of the total supply allocated to community users, 25% to the team, 10.9% to investors and 7.1% to the foundation. The community airdrop will be fully unlocked, while the team and investor tokens will be locked for 12 months. Users must check their eligibility through the official portal before April 13.
According to The Miner Mag, Cango announced that it will sell its Chinese auto finance business to Ursalpha Digital Limited, which is associated with Antalpha under Bitmain, for $352 million, and fully transform itself into a Bitcoin mining company. The transaction includes an advance payment of $210.6 million, and the remaining installments will be paid according to tax and risk adjustments. Cango produced 530 BTC in March, holding 2,475 BTC, and a computing power of 29.13 EH/s, ranking among the top five listed mining companies in the world.
According to the announcement of MARA Holdings, a total of 242 blocks were mined in March 2025, a month-on-month increase of 17%, with an average daily output of 26.8 BTC and a cumulative output of 829 BTC. The company's total BTC holdings increased to 47,531. MARA said that its self-operated mining pool MARAPool has exceeded the network average by more than 10% in "luck value" since its launch, which has increased block revenue. At the same time, MARA expects to complete the construction of a 40MW data center in Ohio by the end of April and continue to expand its clean energy and computing power layout.
According to CoinDesk, Itaú Unibanco, Brazil’s largest bank, is considering issuing its own stablecoin. The decision will depend on the final setting of the Brazilian Central Bank’s stablecoin rules and the success of the issuance of stablecoins by U.S. financial institutions. Antunes, Itaú’s digital asset director, said that stablecoins are “on the agenda” for banks and are concerned about the potential of blockchain in atomic settlement. Brazilian regulators are currently conducting a public consultation on stablecoin regulation (Consulta Pública No.111).
According to the announcement of StakeStone, the STO token airdrop was officially launched at 19:00 on April 3 and will last for 30 days.
The U.S. House of Representatives Financial Services Committee passed the Anti-CBDC Surveillance State Act (HR 1919) by 27 votes in favor and 22 votes against. The bill, proposed by House Majority Whip Tom Emmer, aims to prohibit the Federal Reserve from issuing central bank digital currency (CBDC) and prevent it from providing financial services directly to individuals or using CBDC to implement monetary policy.
According to the Babylon Foundation announcement, a total of 600 million BABY will be airdropped to the first phase pledgers, Finality Providers, Pioneer Pass NFT holders and GitHub contributors, accounting for 6% of the total supply. The rewards will be directly distributed to the registered address after the mainnet is launched, without the need for users to claim. Those who have not signed the airdrop agreement can claim it by signing after going online. Token economics shows that Babylon Genesis will be launched as the first Bitcoin Security Network (BSN), with a total of 10 billion native tokens BABY, mainly used for transaction fees, on-chain governance and security pledges. Babylon adopts a dual pledge model of BTC and BABY, and BABY is also a gas fee token and governance token. In terms of distribution, private investors account for 30.5%, the team 15%, and community incentives and ecological construction account for 15% and 18% respectively. The token has an inflation mechanism, and the inflation rate is adjusted by governance.
