BlockBeats will organize the key industry news content of the week (4.7-4.13) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
Important News Review
Trump hinted at "buy the dips" before suspending tariffs, raising doubts about trading; China stepped up its countermeasures and raised tariffs on the United States to 125%
Since April, the Trump administration has announced extreme "reciprocal tariffs" on major trading partners and has imposed tariffs on China several times, triggering a continuous plunge in the U.S. stock market and the crypto market. Bitcoin once fell below $75,000 and Ethereum fell below $1,400. In response to the market crash on April 7, Trump said that it was not intentional manipulation of the market to sell off, and the market had to take medicine if it was "sick." On the same day, CNBC reported that the White House was considering suspending taxation for 90 days due to an erroneous report, but the White House immediately denied it, calling the relevant statement "fake news." On April 8, according to the Washington Post, Musk had directly appealed to Trump himself to revoke the new tariffs, but to no avail.
On April 9, Trump wrote that "now is a good time to buy." A few hours later, Trump suddenly announced a 90-day suspension of taxation, applicable to reciprocal tariffs and 10% tariffs, and the policy took effect immediately. Driven by the news, the three major U.S. stock indexes rebounded sharply, and Bitcoin rose simultaneously. Because his "buy the dips" remarks appeared on the eve of favorable policies, and the previous tariff policy had caused his net worth to evaporate by more than $1 billion, on April 11, several U.S. senators called on Congress to investigate whether he was involved in insider trading or market manipulation. According to CNBC, Trump privately admitted that his tariff policy may push the U.S. economy into recession, but he is willing to accept the "pain" that will result.
At the same time, China's State Council Tariff Commission announced on April 9 that it would increase the tariff rate on goods originating in the United States from 34% to 84%, and initiate WTO dispute settlement procedures. On April 11, China once again escalated its countermeasures, further raising the tariff rate to 125%, and stated that at the current tariff level, there is no possibility of market acceptance of American products. If the United States imposes tariffs again in the future, China will not respond. Related reading: "CNBC guest's catchphrase caused a $3 trillion "tariff blunder", which became the most nonsensical 10 minutes in financial history" , "Trump responded to the market crash and insisted that tariffs are the only antidote for the United States" , "Ray Dalio interprets "nonsensical tariffs": This is just an appetizer, the collapse of the global order is the protagonist" , "Trump lost more than $500 million in a week to fight the tariff war"
IRS DeFi Broker Rules Are Now Officially Repealed
On April 11, US President Trump signed a bill announcing the official repeal of the IRS DeFi crypto broker rule, the first cryptocurrency bill signed into law by the president. The previous 2024 rule classified DeFi platforms as brokers, meaning they must submit 1099 IRS forms for their users. Trump has said that the rule "hinders American innovation" and "violates the privacy of ordinary Americans."
Paul Atkins officially takes office as Chairman of the US SEC: Approves spot Ethereum ETF options trading, withdraws lawsuit against Helium developer Nova Labs, files joint motion with Ripple to suspend appeal, etc.
On April 10, the U.S. Senate confirmed President Donald Trump’s nominee, Paul Atkins, as chairman of the Securities and Exchange Commission (SEC) by a vote of 52 to 44. Atkins said he would make establishing a regulatory framework for digital assets a “top priority.” The consulting firm he founded has served clients including crypto exchage and DeFi platforms.
On April 10, according to market news, the U.S. Securities and Exchange Commission has now approved options trading for spot Ethereum ETFs. On the 11th, Nova Labs, the developer of Helium Network, said that the U.S. Securities and Exchange Commission (SEC) has dropped the company's charges of selling unregistered securities. Helium said in a blog post that this means that selling "hardware and distributing tokens to promote network growth" does not automatically make it a security.
On the same day, former U.S. federal prosecutor James K. Filan disclosed that the two parties in the U.S. Securities and Exchange Commission v. Ripple case have filed a joint motion to suspend the appeal based on the settlement agreement reached by the two parties. The settlement agreement is still subject to the approval of the Commission. No brief will be submitted on April 16. Related reading: "SEC Welcomes Crypto Holder Head: How Doctor of Law Paul Atkins Will Rewrite the Crypto Market Landscape" , "48 hours after the new chairman took office, the SEC has become a "crypto dad""
The Wall Street Journal published the inside story of Binance’s negotiations with the U.S. Department of Justice, which may include transaction terms
On April 12, the Wall Street Journal, citing people familiar with the matter, reported that during the Biden administration, the U.S. Department of Justice had been investigating Justin Sun, and it was unclear whether the investigation was still ongoing. Some people familiar with the matter said that as part of CZ's plea agreement, he had agreed to provide relevant evidence to prosecutors. This arrangement has not been reported before. The U.S. Department of Justice declined to comment on the news. Some people familiar with the matter also said that Binance executives proposed to Treasury officials in Washington to revoke the position of independent monitor who oversees the company's anti-money laundering compliance. This move will be the first step for Binance to return to the U.S. market.
On the same day, Justin Sun responded to the relevant report of The Wall Street Journal on social media: "I am not aware of the rumors currently circulating on the Internet. CZ is my mentor and friend, and also my benefactor. In the process of my entrepreneurship, he has given me attention, guidance and direction. To this day, his principles and style of doing things are still the highest standards I pursue as an entrepreneur. At the same time, the U.S. Department of Justice has always been one of our closest and most trusted partners of T3FCU. We have worked together to handle a large number of important cases aimed at protecting global users and punishing illegal criminal groups on a global scale. Whether it is CZ or our partners in the Department of Justice, we always maintain direct and frank communication. I have full trust in each of them." Related reading: " WSJ's latest Binance report: CZ may provide evidence related to Justin Sun to the Department of Justice "
TRUMP tokens will be unlocked on a large scale, with 12,000 remaining addresses holding more than $1,000
On April 12, CoinDesk reported that Trump's meme coin TRUMP will usher in a large-scale token unlocking next week, unlocking 40 million tokens on April 18, and the project team will receive tokens worth $320 million, accounting for about 20% of the circulating supply. If the unlocked tokens are sold on the open market, the supply and liquidity ratio will be seriously unbalanced, which may lead to further pressure on prices. Since its launch on January 18, the recent TRUMP token price has reached $7.14, and the current price is $8, and the value has shrunk by 83% from the high point. According to Dune data, the number of TRUMP token holders has dropped from 817,000 at the time of its initial launch to 637,000. Currently, only 12,000 wallets hold more than $1,000 TRUMP tokens, a significant reduction from 143,000 on January 19.
Binance Wallet launches Mind Network TGE: new rules and restrictions added; final oversubscription 173.5 times
On April 10, Binance Wallet announced an exclusive token generation event for Mind Network in conjunction with PancakeSwap. Total raised amount: $750,000; available tokens are 50,000,000 (5% of the total supply); the subscription limit for each Binance wallet user is 3 BNB. New participant qualifications for this round of TGE activities: To be eligible, participants must maintain a minimum daily asset value of $100 in their Binance account for 7 consecutive days before the TGE start date. This TGE ultimately over-raised 173.5 times.
Binance announces the first batch of voting results to delist BADGER, BAL, BETA, CREAM and other tokens
On April 8, according to the official announcement, based on the voting and review results, Binance will delist BADGER, BAL, BETA, CREAM, CTXC, ELF, FIRO, HARD, NULS, PROS, SNT, TROY, UFT and VIDT on April 16, 2025. Affected by the delisting news, the relevant tokens fell significantly in the short term.
Binance launched the second round of voting to delist tokens on April 10
On April 10, Binance launched the second batch of voting delisting activities. The options for this voting delisting include: ZEC, JASMY, FTT, STPT, ARK, ARDR, GPS, MBL, PERP, MKN, WING, LTO, FLM, BSW, ALPACA, VOXEL, PDA. The voting period will start in 30 minutes and last for seven days from 2025-04-10 04:00 (UTC) to 2025-04-16 23:59 (UTC) (the "Voting Period"). Users must be logged in to their verified Binance account and hold at least 0.01 BNB in their trading account throughout the voting period for their vote to be eligible. During the voting period, each user can vote for up to 5 projects in the voting delisting pool, or choose projects with fewer votes. Each verified account can only be assigned one vote per project.
Musk mentioned Retard Finder several times this week. The related Meme coin RFC continued to rise, and the market value once exceeded 80 million US dollars.
This week, Musk mentioned Retard Finder and interacted with it many times in X. The related Meme coin RFC continued to rise. On April 9, according to GMGN market data, the market value of Musk's concept Meme coin RFC briefly exceeded 80 million US dollars. Related reading: "A 200% surge in 48 hours, can Musk's concept meme coin RFC become the next DOGE?"
Ecological Frontier: This week, the Abstract ecosystem is hot, the number of single addresses on the network reaches 1.16 million, and the market value soars
On April 11, according to Dune data, the number of addresses of Abstract Chain, a Layer 2 network designed for on-chain culture and community, exceeded 1.16 million, and the TVL of the network's DeFi protocol reached 14.97 million US dollars. According to GMGN market data, the market value of its ecological mining coin BIG briefly exceeded 12 million US dollars, setting a record high. Related reading: "New Chain's 14-fold God Plate in the Bear Market, How to Play Bigcoin?"
Argentina's Congress approves investigation into officials involved in Libra token scandal
On April 9, Decrypt reported that the Argentine House of Representatives voted on Tuesday to pass three draft resolutions to set up a special committee to investigate the Libra cryptocurrency scandal associated with President Javier Milley since February. Gabriel Bornoroni, a member of the Liberal Progressive Party, defended the president in the debate, suggesting that the opposition was making a farce. The investigation agency will summon key government officials including Economy Minister Luis Caputo and Justice Minister Mariano Cúneo Libarona, and will also invite Cabinet Chief Guillermo Francos and National Securities Commission Chairman Roberto Silva to participate in the investigation.
Aave launches token repurchase mechanism, with first-month repurchase budget reaching $4 million
On April 9, according to Aave's official governance page, Aave DAO's proposal to authorize the Financial Committee (AFC) to authorize $4 million worth of aEthUSDT to launch the first phase of the Aavenomics buyback and distribution plan was approved. The plan aims to buy back AAVE from the open market and distribute it to the ecosystem reserve, thereby enhancing governance incentives and protocol health. This initial authorization will support about one month of buyback operations, while reserving buffer time for the future deployment of new Aave Swapper contracts. The full plan is expected to continue to advance at a pace of up to $1 million per week over six months. The proposal enables the AFC to begin executing the first phase of the buyback plan, approving $4 million in aEthUSDT for about one month of AAVE buybacks.
Strategy may be forced to sell Bitcoin to repay debts, breaking the "never sell" promise
On April 9, according to the 8-K form submitted by Strategy to the U.S. Securities and Exchange Commission (SEC) on April 7, if the price of Bitcoin continues to fall, Strategy may be forced to sell its Bitcoin holdings to repay debts, breaking Michael Saylor's promise to "never sell Bitcoin." In the 8-K form, Strategy mentioned that "because Bitcoin constitutes the vast majority of assets on our balance sheet, if we are unable to obtain equity or debt financing on favorable terms (or at all) in a timely manner, we may be forced to sell Bitcoin to meet financial obligations, and may have to sell it below cost or at other unfavorable prices." Strategy has submitted a total of 25 8-K documents this year, and 8-K documents with the subject "Operating Results and Financial Condition" are generally submitted at the beginning of each month. "Risk warning of possible sale of Bitcoin" was mentioned in the 8-K document on January 6, but not in the documents in February and March. This time, it was cited again in the 8-K form after three months. Related reading: "If MicroStrategy is forced to sell BTC, how much selling pressure will it bring to the market?"
Strategy: Unrealized losses of digital assets in Q1 this year reached $5.91 billion
On April 7, Strategy (formerly MicroStrategy) reported unrealized losses of $5.91 billion in digital assets in the first quarter of 2025. The company purchased 80,715 bitcoins in the first quarter, worth $7.66 billion, at an average price of $94,922.
Morpho has a front-end vulnerability, and an address was attacked and lost $2.6 million
On April 10, Morpho had a front-end vulnerability. On the 11th, Morpho posted a statement saying, "The Morpho team was informed of the problem in yesterday's Morpho App front-end update. The relevant changes have been rolled back and the front-end function has returned to normal. All funds in the Morpho protocol are safe and unaffected." On the same day, according to Paidun monitoring, a certain address seemed to have lost $2.6 million due to an attack on the Morpho Blue front-end vulnerability. The attack transaction was preempted (frontrun) by the well-known on-chain arbitrageur c0ffeebabe.eth, and the funds were eventually transferred to the address 0x1A5B...C742.
Multicoin and Electric’s AUM growth to exceed 50% by 2024
On April 7, Fortune reported that new documents required by investment advisors to submit under the U.S. Securities and Exchange Commission (SEC) regulations show the size of assets under management (AUM) of each company. From 2023 to 2024, according to the financial disclosure data of the six largest crypto venture capital companies: Electric Capital, Pantera Capital, Haun Ventures, Multicoin Capital, Polychain Capital and Paradigm. Their AUMs all increased by more than 10%, with Electric and Multicoin both increasing by more than 50%.
Crypto lawyer: Satoshi Nakamoto's identity information may have been obtained by the U.S. Department of Homeland Security, and crypto lawyers filed a lawsuit to find out the truth
On April 8, Decrypt reported that a cryptocurrency lawyer believes that the US government may hold the answer to uncovering the identity of Bitcoin founder Satoshi Nakamoto. James Murphy filed a Freedom of Information Act lawsuit against the U.S. Department of Homeland Security (DHS) on April 7, claiming that the department knew the identity of Satoshi Nakamoto. Murphy said that the purpose of his lawsuit was to obtain documents about a senior agent claiming in 2019 that DHS had interviewed Satoshi Nakamoto. He quoted agent Rana Saoud, saying that the agent had traveled to California to talk to Satoshi Nakamoto and several other people and learned how Bitcoin works. Murphy believes that if the interview did happen, there should be relevant records. He asked DHS to disclose all documents related to this, including speeches, interview records and any possible evidence.
Ethereum falls below the "realized price", and the historical backtest may enter the strategic accumulation range for long-term investors
On April 8, Cryptoquant analyst theKriptolik published an analysis pointing out that Ethereum has fallen below its "realized price" of around $2,300. The "realized price" is the price of each Ethereum when it is last transferred through the blockchain. It is one of the indicators for recalculating the market value of cryptocurrencies. The average of all transaction prices is the realized price. Compared with the current market price, it can more truly reflect the average holding cost of investors. This indicator usually forms a key support or resistance level. When ETH falls below the realized price, it means that most holders are in a floating loss state. In times of market panic (such as now), it is very easy to trigger a "cut-meat" sell-off. Historical data shows that falling below the realized price usually occurs at the end of a major downward trend.
Justin Sun listed FDT's "Seven Deadly Sins", including misuse of customer funds, fraud and theft, etc.
On April 8, Justin Sun published an article on the X platform listing the seven sins of First Digital Trust (FDT), as follows:
Offence 1: Breach of fiduciary duty; offence
2: Abuse of customer funds;
Offence 3: Unlicensed investment activities;
Offence 4: Fraud or theft;
Crime 5: False reporting or concealment;
Offence 6: Violation of anti-money laundering (AML) obligations;
Offence 7: Prevention of Bribery Ordinance (POBO)
Arizona passes Bitcoin mining rights bill
On April 11, according to Bitcoin Laws, Arizona officially passed the Bitcoin Mining Rights Act HB 2342, which protects anyone who runs a node or mines digital assets from zoning or usage bans. The bill was passed by the Senate with 17 votes to 12 and has been sent to the governor's office for signature.
Sources: a16z is seeking to raise $20 billion for its largest fund
On April 8, sources said a16z was seeking to raise $20 billion for its largest fund ever.
Ripple agrees to acquire crypto broker Hidden Road for $1.25 billion
On April 8, Cointelegraph disclosed that Ripple agreed to acquire Hidden Road, a prime broker specializing in cryptocurrencies and foreign exchange, for $1.25 billion. Hidden Road Partners was founded in 2018 by Marc Asch, who worked at hedge fund billionaire Steven Cohen's company SAC Capital and Point72 Asset Management. Hidden Road completed a $50 million financing in 2022. Hidden Road provides prime brokerage services for a variety of markets, including foreign exchange, precious metals, and digital assets.
Survey: 26% of Singapore residents hold digital assets, with young users dominating
On April 8, according to a new survey by Singaporean crypto payment company Triple-A, more and more people in Singapore own cryptocurrencies, among which young users are leading in using cryptocurrencies for daily financial needs. The number of Singapore residents who own cryptocurrencies is increasing, and the proportion of digital assets will reach 26% in 2024, up from 24.4% in 2023. Among those who hold cryptocurrencies, 52% have already used cryptocurrencies to purchase goods and services, and 67% of them plan to increase the use of cryptocurrencies for payment in the future. In addition, about 40% of Generation Z and Millennials hold cryptocurrencies. Among this group, 41.1% use cryptocurrencies for online shopping, 35.9% use cryptocurrencies to pay bills, and 27% use cryptocurrencies to purchase in-store retail items.
This week's hot articles
At the 2025 "BUIDL" summit, the three giants of the crypto, Li Lin, Justin Sun and CZ, toasted together, sparking heated discussions. Li Lin and Justin Sun, who had publicly clashed over Huobi's acquisition and financial loopholes, actually drank from each other's cups at the conference, causing the outside world to speculate whether the two had reconciled privately. At the same time, the cooperation and competition between Justin Sun and CZ also runs through multiple stages of the crypto industry, from the game in the stablecoin market to the Launchpool incident, to the latest accusation against FDT, showing the intricate relationship between the bigwigs in the crypto. Under regulatory pressure and market evolution, their interaction is not only a microcosm of personal grievances, but also reflects the process of the entire industry from grass-roots to compliance.
Liang Xi, a crypto KOL who became famous for high-leverage trading and "gambler-style" operations, started with a few thousand yuan and became a god in one battle. He was heavily in debt due to misjudgment and experienced the rapid rise and deep fall of the crypto. He used extreme words and deeds to create gimmicks to attract traffic, and even resorted to self-mutilation and sex change to maintain attention. At the same time, he also did high-profile charity to maintain his public image. His experience condensed the ups and downs and madness of the crypto in its early days, reflecting the fragility and powerlessness of retail investors in high-risk games.
The Trump administration has once again set off a wave of trade protectionism, announcing the imposition of "reciprocal tariffs" on all trading partners, triggering violent shocks in global financial markets, plummeting U.S. stock futures and Asian stock markets, and a sharp drop in the crypto market, spreading market panic. The key figure in promoting this policy is economist Peter Navarro, who is known for his tough attitude towards China and "non-mainstream" economic theories. He advocated trade confrontation in his early years and attracted Trump's attention with his books, thus entering the core circle of the White House. Now he has returned to the center of power and promoted a high tariff policy. Although the concept has been adhered to for a long time, there is still widespread controversy as to whether his means are truly beneficial to the U.S. economy.
In an in-depth dialogue with the community in Hong Kong, CZ frankly talked about the development bottleneck of BNB Chain and the hidden worries of the MEME coin craze, and called on the industry to return to long-term construction and fundamentals. He believes that hype can exist, but it should not dominate the entire crypto. He emphasizes that "making quick money and slow money must be balanced" and supports the sustainable development of practical projects and real user ecosystems. In the face of community doubts, he encouraged rational holding of coins and cautious investment, and stated that he will continue to promote the expansion of BNB usage scenarios and improve the overall health of the on-chain ecosystem.
Synthetix stablecoin sUSD has seen a surge in supply due to a mechanism upgrade, with prices de-anchored to a minimum of $0.834 in the short term, and the market is concerned about its stability. This volatility stems from the transition pains of the new mechanism SIP-420: on the one hand, the reduction of the collateral rate to 200% has led to a sharp increase in the supply of sUSD, and on the other hand, the old anchor arbitrage mechanism has failed and the market lacks the motivation to pull back. Despite this, sUSD still maintains high collateral support and limited systemic risks. The project has initiated countermeasures, and it is expected that as the new mechanism gradually stabilizes, sUSD is expected to re-consolidate its ecological position.
"Why does the Federal Reserve become more anxious as stablecoins become more popular?"
Stablecoins combine technological innovation with the financial system, bringing payment efficiency while challenging the central bank's monetary control. They are similar to "full reserve banks" and although they do not create credit money, they may affect liquidity and interest rates. Future development may move towards a partial reserve system or merge with CBDC, reshaping the global financial landscape.
Hayes: China's tariff counterattack may trigger a new round of crypto capital boom
Industry insiders such as Arthur Hayes and Ben Zhou believe that China may devalue the yuan in response to US trade tariffs, which will drive funds into cryptocurrencies such as Bitcoin for risk aversion and preservation of value; historically, Bitcoin has benefited many times when the yuan has depreciated, showing that investors tend to use it as a tool to deal with capital controls and uncertainty in government financial policies.
"Lots of words means investment research? Crypto KOL grassroots behavior awards"
KOLs in the crypto circle package the cutting of leeks as "transmission of faith" through sophisticated rhetoric, and use language arts such as "long-termism", "Alpha Call", and "benchmarking 100 times" to heat up traffic, but in fact they cover up the interest binding and head-pulling behavior behind it. They are good at guiding users to use rebate links in the name of free groups and investment research reports, earning advertising fees instead of truly sharing value. When traffic becomes the only criterion, the market is gradually dominated by noise, and the KOL economy is also devouring the healthy foundation of the crypto ecosystem. The real rule of survival is to see through the rhetoric, stay away from the grass-roots team, and hold the currency rationally for a long time.
"Stablecoins surged past 235 billion, Altcoin did not increase. Where is the money?"
Since 2024, the global stablecoin market value has surged to $235 billion, but this round of growth has not led to a simultaneous outbreak in the Altcoin market. The newly added $1 of stablecoins only leverages $1.5 of Altcoin market value, far lower than the $8.3 in the previous bull market. Funds mainly flow to trading platforms and DeFi protocols, USDT is concentrated in exchanges, and USDC is absorbed by pledge agreements in large quantities; at the same time, the rise of new scenarios such as cross-border payments and institutional transactions has gradually freed stablecoins from the role of a single transaction medium and become a value bridge between traditional finance and the crypto market, marking the trend of the market's transformation from speculation to financial management attributes.
Musk publicly opposed the Trump administration's tariff policy, criticized its chief trade adviser Navarro, and called on the United States and Europe to establish a zero-tariff free trade zone. His stance was in stark contrast to Trump's, causing investors to worry that the U.S. "economic reconstruction" plan may face internal divisions and policy uncertainties.
"Tariffs may only reveal the tip of the iceberg. What are the challenges in the Chinese market?"
This article describes the huge challenges that American technology companies face in China. Although the Chinese market is attractive to foreign companies, insufficient intellectual property protection, serious government intervention, and rampant piracy make it extremely difficult to do business in China. Companies such as Microsoft have tried many ways, but have always found it difficult to break through the complex barriers of the Chinese market. The article emphasizes that although tariffs are obvious, the real problem in China lies in soft restrictions, regulatory mazes, and cultural differences, and calls for a deeper understanding and discussion of the challenges of the Chinese market.
Faced with the Trump administration's sudden expansionary tariff policy, global markets were turbulent, triggering a rare collective rebound on Wall Street, with financial giants including Bill Ackman and Jamie Dimon warning of a possible economic crisis. Although some people are still optimistic and believe that this is a controllable correction, most voices express concerns about hasty policies and lack of expectation management, showing that market confidence is gradually collapsing under geopolitical games and political gambles.
"If MicroStrategy is forced to sell BTC, how much selling pressure will it bring to the market?"
Strategy, led by Michael Saylor, has fallen into financial difficulties due to the decline in Bitcoin prices and huge debts. It currently holds more than 520,000 Bitcoins with a total value of more than US$40 billion, but has serious floating losses and huge debt pressure. If Bitcoin continues to fall, the company may be forced to sell Bitcoin at a low price to alleviate the cash flow crisis, which may trigger market shocks and even chain reactions; although the risk of selling has been emphasized again recently, considering the long debt maturity date and the large number of financing methods, the possibility of a full sell-off is still relatively low.
"Trump family project WLFI sold ETH and lost tens of millions. How many chips does it have left?"
WLFI sold 5,471 ETH at a price far below cost when the market was sluggish, cashing out about $8.01 million. The reasons behind this may include stop loss, liquidity needs and strategic adjustments. Whether it continues to sell more than 60,000 ETH it holds will also be affected by market trends, internal layout and policy environment. At the same time, the superposition of signals such as Ethereum's stagnant activity, L2's weakening value capture capabilities, and the cooling of institutional attitudes are gradually eroding its fundamentals, reflecting the deep concerns of large investors about its future development.
Arthur Hayes believes that global liquidity is about to be greatly relaxed, which will drive up inflation-resistant assets such as Bitcoin and gold. Bitcoin is expected to rise to US$250,000 in 2025. He is optimistic about Ethereum over Solana, believing that it is underestimated by the market and has the potential to return to its historical highs first. He has a strategic understanding of Trump's tariff policy, emphasizing the game between voters and policy orientations. He also pointed out that the Federal Reserve is actually dominated by fiscal policy and will continue to maintain an accommodative policy in the future. At the same time, he is skeptical about Circle's listing and is more optimistic about Coinbase. In the current market, he prefers to invest in projects that are severely undervalued but have solid fundamentals.
This article discusses the strategies and benefits of several interest-bearing stablecoins, including how different platforms generate income through investing in U.S. Treasuries, DeFi lending, and real assets. The strategies and yields of each stablecoin are different, such as earning income through staking, lending, or liquidity mining. The article also mentions the characteristics of these stablecoins, such as no lock-up, automatic accumulation of income, etc., which are suitable for long-term investment and users who require stability, and provide an innovative decentralized financial solution.
BitMEX: Trump's views on trade are untenable, he just likes tariffs
The causes of the US trade deficit are far more complicated than they appear. They involve not only the manipulation of exchange rates and protectionist policies advocated by other countries as advocated by Trump, but also the covert means taken by the US to rely on the petrodollar system to maintain its status as a global reserve currency. Different perspectives explain the two-way causality of trade imbalances: on the one hand, it is the trade surplus caused by the advantages of other countries' goods and exchange rate policies, and on the other hand, it is the capital account surplus caused by the continued preference of global capital for US assets. Although Trump intends to reshape the manufacturing industry and reduce the trade deficit through tariffs, these policies may backfire in the face of global capital flows and geopolitical realities, and may even shake the status of the US dollar, indicating that global trade is far from a zero-sum game, but a dynamic balance under the interweaving of multiple factors.
In recent months, more and more independent miners have successfully packaged Bitcoin blocks. Although the probability is extremely low, it has aroused people's enthusiasm for decentralized mining. Although the data shows that the number of successful independent mining has increased, success is still like "buying a lottery ticket", and some seemingly independent cases may actually be institutional behavior. Some small mining machines priced at several hundred dollars are gradually becoming popular among extreme Bitcoin supporters who value the concept of decentralization rather than profitability. This trend not only promotes individual mining, but also highlights the complexity of the Bitcoin mining ecosystem.
Trump's import tariffs have dealt a heavy blow to the Bitcoin mining industry, especially the supply chain that relies on Southeast Asian manufacturing of mining machines. The price of US mining machines has risen by 22%-36% due to tariffs, squeezing miners' profit margins, hindering expansion plans, and may gradually weaken the United States' dominance in global computing power. At the same time, the imbalance between supply and demand of mining machines may lead to price cuts in other countries, accelerating the decentralization of global computing power. Although local assembly and localization of chips are seen as alternative paths, they are difficult to implement in the short term. Overall, this sudden policy change has shaken industry confidence, may slow down global computing power growth, and reshape the mining landscape.
Binance is currently conducting its second round of voting for listings, covering multiple popular tracks such as AI and DeFi. A total of 12 medium and large projects are participating, and users only need to hold 0.01 BNB to vote. Unlike the first round which was mainly based on Meme coins, the overall market value of the projects in this round is higher, reflecting that Binance is trying to screen tokens with a stronger market basis through community voting. At the same time, it has also triggered an intensification of the phenomenon of vote-rigging. Whether this mechanism can achieve true community consensus and fair competition in the future remains to be seen.
History is repeating itself: Grayscale report reveals new risk-averse logic under the tariff storm
This article analyzes the impact of recent changes in the United States' global tariff policy on financial markets, especially the unique performance of Bitcoin in this process; explores the long-term impact of tariffs on the economy, especially the choice of asset allocation during a period of stagflation, and the performance of Bitcoin and gold in this environment; analyzes the impact of current trade tensions on the US dollar and the potential adoption of Bitcoin, and finally looks forward to the economic outlook for the next few years, pointing out that scarce commodity assets such as Bitcoin and gold may receive more attention and demand in a high inflation environment.
"a16z Partner: How Stablecoins Can Cut Cross-Border Payment "Intermediate Taxes""
The global payment system is still dominated by layers of intermediaries, with high costs and low efficiency, while stablecoins are providing a solution that is more in line with the spirit of the Internet: open, instant, low-fee and global. It can not only significantly reduce remittance costs and improve corporate operating efficiency, but also provide billions of people with a new way to access the financial system. As supervision becomes clearer, stablecoins are expected to become the monetary infrastructure of the new era, reshaping the way global funds flow, just like WhatsApp for communications.
"If Twitter disappears tomorrow, what will happen to Crypto?"
Twitter's influence on crypto projects has reached a pathological level of dependence. Many projects regard it as the only marketing platform, but ignore the reality that users are distributed on multiple platforms. Obsession with tweets and short-term interactions makes the team lose the motivation to expand their horizons, and once Twitter collapses, most projects will fall into silence. To build a truly resilient brand, it is necessary to step out of the "crypto Twitter circle" and actively establish connections with real users on more platforms. Even if you are not used to it at first, it is far wiser and more long-term than being trapped on one platform.
"Crypto may not be able to catch up with AI opportunities under tariff suppression"
The crypto AI ecosystem is developing rapidly, with many projects promoting innovations such as intelligent agents, on-chain reasoning, and decentralized models. Chaos Labs builds AI researchers, Sentient introduces on-chain intelligent agents, Gaianet collaborates with Mira to improve credibility, Ambient focuses on real-time reasoning, and Sei explores the robot economy. This wave of enthusiasm is sweeping the intersection of Web3 and AI.
《A quick look at the eight winning projects of the ETHGlobal Taipei Hackathon》
On April 6, 2025, ETHGlobal Taipei 2025 announced 8 winning projects, including Signals, EthereumFighter, cellfi, AskCiaShen, Solva, HowDoxxedAmI?, DynaVest and Nomadia. These projects cover prediction markets, DeFi games, SMS encrypted transactions, AI investment assistants, zero-fee payments, privacy protection, automated DeFi strategy execution, and peer-to-peer currency exchange, demonstrating the innovative application of blockchain technology in all aspects.
"Reviewing the Fed's 10-year interest rate cycle: Where will Bitcoin go under three paths?"
In the past decade, the peak of the bull market of Bitcoin price usually precedes the start of the Fed's interest rate hike or the strongest expectation of interest rate hike, while the bottom of the bear market often occurs in the late stage of interest rate hike or when the expectation of interest rate cut appears. At present, there are three differences in the market on the Fed's next policy: first, stubborn inflation will lead to the risk of a second interest rate hike, and Bitcoin may face a second bottoming out; second, a moderate interest rate cut will be launched in the second half of the year, and the price will peak after the shock; third, a more active interest rate cut will be launched in the middle of the year, and Bitcoin is expected to rise in advance and enter an accelerated bull market. Interest rate policy is still the key factor in determining the future trend of Bitcoin.
Vitalik's latest speech: Building Ethereum L1 into the core of the "world computer"
Ethereum founder Vitalik Buterin explained the expansion path of Ethereum L1 at the "2025 Hong Kong Web3 Carnival", emphasizing that the upcoming Pectra and Fusaka upgrades will significantly increase L2 throughput to tens of thousands of TPS; at the same time, account abstraction will be promoted through EIP-7702 to enhance user experience and security. He proposed that L1 and L2 will work more closely together in the future, and L1 will learn from L2 technology to improve its scalability, and continue to optimize security, privacy protection, and anti-quantum attack, so as to fully promote the Ethereum ecosystem towards mainstream large-scale applications.
Currently, crypto game tokens are experiencing a serious decline. IMX, which was once in the top 100 in market value, has fallen off the list, reflecting the cooling of the entire crypto game market. Although some new games such as "Off the Grid" and "Pixels" have received good reviews and attracted users, the value of most game tokens has collapsed due to the lack of real user demand and game quality support. The industry generally has the problem of "issuing coins first and then making games", and investors' attention has shifted to hot fields such as AI, making it difficult for game tokens to maintain their popularity. Today's crypto games face the challenges of product polishing and sustainable business models, rather than short-term hype driven by tokens alone.
"Reunited after 10 years: Vitalik and Xiao Feng discuss how to "revive" Ethereum"
During a conversation with Xiao Feng at ETHAsia 2025, Vitalik reviewed the origins of Ethereum and the Chinese community, emphasizing the key role of Chinese miners, developers, and trading platforms in early development. He advocated that the Ethereum Foundation play the role of "enabler" and encourage Chinese teams to participate in underlying innovations such as POS 2.0 and ZK technology; at the same time, he pointed out that application directions such as DeFi, RWA, and decentralized social networking deserve in-depth exploration. When talking about the popularization of blockchain applications, Vitalik believes that the key to breaking through "ease of use" and "Blockchain Trilemma" lies in layered architecture, account abstraction, and data sharing; L1 should undertake more basic services, and L2 should feedback value reflux. He supports the establishment of a foundation office in Hong Kong and the restart of hackathons in the Mainland, emphasizing that the future should rely on the self-driven development of the local community rather than the centralized promotion of the foundation.
Meanwhile is a crypto insurance company that provides Bitcoin-denominated life insurance. Users can pay premiums with BTC and set a payment address. Its goal is to serve people who hold Bitcoin for a long time and pay attention to wealth inheritance. Its product process is completely on-chain, supporting Lightning Network payment, mortgage lending and repayment-free functions, and taking into account both faith and practicality. The company has received $40 million in financing from institutions such as Framework Ventures, with a valuation of $190 million. Backed by traditional finance and crypto giants, it plans to expand the global market and position itself as the "ultimate faith card" for BTC holders.
Ray Dalio believes that the world is currently facing a systemic collapse of currency, politics and international order, similar to the crisis of the 1930s. He pointed out that the US debt problem, insufficient manufacturing capacity and population education structure are fundamental challenges, and tariffs are only a manifestation of responding to global imbalances. In this context, rising capital costs and hindered global cooperation will bring structural shocks. He advises ordinary investors to keep their assets diversified and stable, be wary of inflation eroding the value of cash, and face the uncertainty of the future economy.
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