Important information last night this morning (April 7-April 8)
Reprinted from panewslab
04/08/2025·21D
Russian VK will close NFT platform on April 15, and users need to migrate assets as soon as possible
According to Cryptonews, Russian social media giant VK announced that it will close its NFT market "VK NFT Hub" on April 15 as financial losses continue to expand. VK's net loss in 2024 reached 94.9 billion rubles (about US$1.1 billion), nearly triple that of 2023. The company recommends that users migrate NFTs to external wallets before closing, otherwise they will lose access.
Coinbase will remove GUSD and GYEN trading pairs in the early morning of May 8
According to Coinbase's official announcement, due to the failure to meet the listing standards for regular reviews, Coinbase will suspend the transaction between Gemini Dollar (GUSD) and GYEN from 14:00 ET on May 7 (2:00 AM Beijing time on May 8). The current relevant transaction pairs have entered the limit order mode. Users can place orders or withdraw orders, and the system may still match transactions. Adjustments apply to various transaction services on the Coinbase platform.
Teucrium launches its first XRP leveraged ETF "Teucrium 2x Long Daily XRP ETF"
According to Bloomberg, Teucrium Investment Advisors launched the first leveraged ETF "Teucrium 2x Long Daily XRP ETF" pegged to the cryptocurrency XRP, with a code of XXRP, with a fee rate of 1.85%. It was listed in the United States today. The ETF aims to provide double returns on XRP daily, with the issuance point following the U.S. SEC dismissing lawsuit against Ripple. According to Bloomberg ETF analyst Eric Balchunas, this situation is extremely rare in ETF history. Although the spot XRP ETF has not been approved yet, the possibility of its approval is currently regarded as high in the industry.
According to Whale Alert monitoring, at 00:14, 00:43 and 5:13 Beijing time today, USDC Treasury destroyed about 50 million USD on the Ethereum chain, destroying a total of about 150 million USD worth of USD.
World Liberty Financial, the Trump family crypto project, released a governance proposal, planning to airdrop a small amount of stablecoin USD1 to all $WLFI holders through an on-chain system to test its airdrop capabilities and thank early supporters. Airdrops will be conducted on the Ethereum main network, and the specific amount of distribution will be determined based on the number of eligible wallets and budget. The Company reserves the right to adjust or terminate airdrops at any time.
Galaxy Digital announced that it has been approved by the SEC and its S-4 registration statement, marking a critical stage in the process of moving its registered place from the Cayman Islands to Delaware, the United States and planning to go public on the Nasdaq. The company will hold a special shareholders' meeting to review the restructuring matters at 22:00 on May 9, Beijing time. The restructuring is expected to be completed in mid-May, and will be listed on Nasdaq with the stock code "GLXY". Currently, Galaxy Digital is listed on the Toronto Stock Exchange.
US SEC announces agenda for the crypto trading roundtable on April 11
According to the SEC official website, the U.S. Securities and Exchange Commission (SEC) Crypto Task Force will hold an open roundtable meeting titled "Blocks and Dilemmas: Tailor-to-Price Supervision for Crypto Trading" at its Washington headquarters from 13:00 to 17:00 ET on April 11 (1:00 to 5:00 ET on April 12) and broadcast it online. The meeting will be hosted by Nicholas Losurdo, partner of Goodwin Procter, and the participants include executives and experts from Uniswap Labs, Coinbase, NYSE and other institutions. SEC Commissioner Hester Peirce said the series of meetings is aimed at promoting the clarification of crypto-regulation.
The probability of the Fed cutting interest rates by 25 basis points in May is 57%
According to CME's "Federal Observation": The probability of the Fed keeping interest rates unchanged in May is 43%, and the probability of cutting interest rates by 25 basis points is 57%. The probability of the Federal Reserve keeping interest rates unchanged by June is 20.4, the probability of a cumulative interest rate cut of 25 basis points is 49.7%, and the probability of a cumulative interest rate cut of 50 basis points is 29.9%.
Bitget releases product Onchain to open up on-chain transaction barriers
According to official news, Bitget released the innovative product Onchain, aiming to seamlessly connect centralized exchanges (CEX) and decentralized exchanges (DEX), providing users with a more convenient, efficient and secure on-chain trading experience. Users can directly use the spot account (USDT/USDC) in the Bitget App to trade popular assets on the chain, without switching wallets or manually cross-chain, effectively simplifying the operation process. The entire transaction process can be completed in about 3–10 seconds. At present, Onchain has supported popular public chains such as Solana (SOL), BNB Smart Chain (BSC) and Base. To encourage users to experience Onchain, a rebate incentive mechanism is launched simultaneously, and a 40% rebate reward can be enjoyed by inviting transactions. Onchain implements the "invisible Gas" mechanism, significantly lowering the threshold and cost of on-chain transactions and comprehensively optimizing the user experience. At the same time, the platform relies on AI algorithms to analyze massive on-chain data and user behavior models, intelligently screen potential tokens, helping users to discover high-quality assets more efficiently and improve transaction decision-making efficiency. All transactions are completed under the exchange-level security system. Users can securely trade popular assets on the chain under the protection of high-level assets without independently managing private keys.
According to The Data Nerd monitoring, 6 hours ago, a wallet with an address starting with 0x770 (owned by the Spartan Group) deposited 3,500 ETH (about $5.22 million) into Binance and Coinbase.
U.S. stocks suffered a third consecutive day on Monday, with Trump slamming high tariffs on most major U.S. trading partners, causing the market to collapse, but the White House remains indifferent. Shortly after the opening, the stock market rebounded briefly and the Dow Jones Industrial Average entered an upward range. Speculation about some form of tariff suspension circulated on trading floors and on social media, which could be one of the reasons why the stock market once turned rally. The White House told CNBC that any statement about the 90-day suspension of (tariffs) is "fake news."
News about the suspension of tariffs has not been confirmed
According to Forexlive, the headlines about what the director of the U.S. National Economic Commission Director Hassett caused some major changes in the market. The report said, "U.S. President Trump is considering suspending tariffs on some countries for 90 days." Within minutes, the news spread everywhere, but looked like fake news. People quote CNBC because they talked about the rumor, but they didn't report it. Some people say it's ABC news report, but this also looks fake. The huge buying in the US stock market reversed.
The EU will start imposing tariffs on U.S. imports on April 15
According to King Ship, European Commission Vice President Sevjovich said that the EU will impose the first batch of tariffs on US imported goods starting April 15 and the second batch of tariffs starting May 15. The EU is imposing tariffs on the United States in response to the Trump administration’s decision to impose tariffs on steel, aluminum and automobiles and a uniform tariff of 20% on other goods. In addition, the EU will set up an import monitoring task force to monitor the possible transfer of goods caused by U.S. tariffs. "This is a major turning point for the United States," said European Commission President von der Leyen. "Nevertheless, we are ready to negotiate with the United States at any time."
Early warning: Malware attacks spread fake wallet mnemonics through hacked mailing lists
According to Decrypt, cybersecurity experts recently discovered a double malware attack targeting users inside and outside the cryptocurrency industry. In its latest report, cyber intelligence company Silent Push revealed a malicious campaign called PoisonSeed, which first forged login pages of bulk mail service providers such as Mailchimp and SendGrid to steal user credentials. The attacker sent a fake email, lied that the user's account was restricted, and tricked him into logging into a high-quality imitation website. After entering the credentials, the attacker quickly and automatically exported the email subscription list. The attacker then used the stolen subscription list to impersonate Coinbase to send phishing emails to the victim's contacts, saying that the exchange is "transitioning to a self-custodial wallet" and accompanied by 12-word mnemonics to trick users into importing wallets, but in fact, let hackers control assets. Microsoft Regional Director Troy Hunt was hit by time-difference fatigue. Although it was timely changed to the secret, the subscription list of 56,000 users has been stolen. "This phishing email is cleverly designed to create a sense of urgency using the fear of "not sending a press release", but it is difficult to prevent it." Although PoisonSeed uses similar domain names to the Scattered Spider and CryptoChameleon, which targeted Coinbase and Ledger users, Silent Push believes it is an independent attacker behind it.
White House Trade Advisor: Talk about recession is "stupid" and tax cuts are coming
White House trade adviser Peter Navarro, one of Trump's most active supporters of tariffs, downplayed concerns about the recession, King Ten reported. “I want to say to retail investors, don’t be frightened by all this,” Navarro refers to the recent market turmoil. “The biggest tax cut in U.S. history, the most extensive tax cut in U.S. history, will come in a few months, so when you consider that, any discussion about the recession seems stupid,” he said in an interview with CNBC.
According to CoinDesk, the income stablecoin protocol Cap announced on Monday that it had raised $11 million in funding from well-known financial institutions such as Franklin Templeton and Triton Capital. The total funding, announced at the end of a recent $8 million seed round, will be used to develop Cap's stablecoin engine, which is scheduled to go live later this year. Previously, Cap had raised $3 million in its last round of financing. According to the statement, Cap will provide users with a way to earn additional income through re-staking agreements such as EigenLayer. According to reports, Cap's system is designed to enable users to obtain passive interest or income based on these tokens.
Market News: Pakistan appoints Zhao Changpeng as cryptocurrency strategy consultant
According to market news, Pakistan appointed Zhao Changpeng as a cryptocurrency strategy consultant.
iShares Bitcoin Trust fell 8.1%, iShares Ethereum Trust fell 16.1%
According to Jinshi, against the backdrop of a sharp sell-off in the market, cryptocurrency stocks fell as the price of Bitcoin fell before the market, iShares Bitcoin Trust fell 8.1%, and iShares Ethereum Trust fell 16.1%.
Glassnode: Bitcoin is stabilizing around $74,000, and the decline may slow down slightly
Glassnode posted an analysis on the X platform that Bitcoin seems to have found support at $74,000. The holding costs of approximately 50,000 BTC are concentrated at $74,200. On-chain data shows that this part of the holdings is mainly held by investors who have been active in the past five months. They have steadily increased their holding costs until March 10, and have remained silent since then. From here on, the decline may slow slightly – between $74,000 and $70,000, there are a total of about 175,000 BTC in the holding cost cluster. The largest single level in this range is $71,600, holding about $41,000. The next more solid support is at $69,900, with about 68,000 BTC held here. The $69,000 range coincides with the -1 standard deviation of the short-term holder cost basis, which was defined by Glassnode analysts as the lower edge of short-term price volatility in bull markets in January.
Bitfinex: Bitcoin may further decouple from stocks and regain its leadership in global risk assets
Bitfinex Alpha said in its latest report that after Bitcoin performed relatively toughly last week, with a weekly decline of only 0.65%, almost flat, far superior to traditional risk assets, it is obvious that this is just a delayed downward reaction. The market has now sold off, despite the BTC/S&P 500 ratio soaring to a level close to an all-time high of just 5%, showing strong relative strength. We believe that stocks are becoming deeply oversold, and a short-term rebound may narrow this gap in the medium term. However, short-term financing and open contract trends also indicate that Bitcoin is about to fluctuate. Nevertheless, structurally speaking, the basis for the outstanding performance in the later period of the second quarter seems to be forming. As macro volatility cools down, ETF capital inflows recover and sovereign narratives resurface, Bitcoin may further decouple from stocks and regain its leadership as global risky assets. Furthermore, while the Fed remains cautious in amid uncertain inflation dynamics, the overall situation shows that trade policy rather than monetary policy may be a greater risk to economic momentum in the coming quarters.
According to King Shih, director of the U.S. National Economic Commission, Hassett, said that more than 50 countries are negotiating tariffs, and it is time to moderately ease (tariff) wording. U.S. President Trump is doubling down on strategies he knows to be effective and if trading partners offer truly quality deals, U.S. President Trump will listen to them. Trump will decide whether the trade deal is superior enough. Trump spoke with leaders from all over the world over the weekend.
Strategy: Unpaid debt as of March 31 was $8.22 billion
According to Jin Shi, MicroStrategy (now Strategy) (MSTR.O) disclosed that the outstanding debt as of March 31 was US$8.22 billion.
According to Jinshi, MicroStrategy (now Strategy) (MSTR.O) disclosed that the unrealized losses of digital assets in the first quarter were US$5.91 billion; our Bitcoin strategy puts us at various risks. (Jinshi Data APP)
Strategy did not increase its Bitcoin stake last week
According to the Form 8-K filing file filed by MicroStrategy (Strategy) disclosed that between March 31, 2025 and April 6, 2025, the company did not sell any Class A common shares or permanent conversion preferred shares under its market price issuance plan, nor did it buy any Bitcoin. As of April 6, its holdings were 528,185 bitcoins, with a total purchase price of US$35.63 billion and an average purchase price of US$67,458.
According to CNBC, US listed company Janover said on Monday that the company has raised $42 million by issuing convertible notes and warrants to multiple investors including Pantera Capital, Kraken, Arrington Capital, and other investors, which will be used to purchase SOL as financial reserves. Janover may be the first U.S. company to adopt a acquisition strategy against Solana, which intends to change its name to DeFi Development Corporation and modify its stock code. Joseph Onorati, the company's newly appointed chairman and CEO, revealed that his team plans to start increasing its holdings in SOL "immediately". Janover also plans to acquire validators (i.e. computers that help run the Solana network, verify transactions), which can be used not only to acquire SOL tokens, but also to "stake" them, i.e. to earn rewards by locking SOL tokens on the network. Earlier in December last year, US listed company Janover will begin accepting Bitcoin as a product payment method and considering it for financial reserves.
Mantra launches approximately $108 million in fund to support real-world asset tokenization and DeFi
According to Cointelegraph, the Mantra blockchain network has launched a $108888888888 million Mantra Ecosystem Fund (MEF) aims to accelerate the development of startups focused on real-world assets (RWA) tokenization and decentralized finance (DeFi). Mantra said it will look for investment opportunities through its partner network over the next four years to deploy funds to global "high potential blockchain projects." The fund's backers include a number of institutional partners including Laser Digital, Shorooq, Brevan Howard Digital, Valor Capital, Three Point Capital and Amber Group. Mantra CEO John Patrick Mullin said the fund will implement an "open policy, welcoming projects around the world at any stage of development, with particular focus on the RWA and DeFi sectors".
Analysis: The S&P 500 has also come to the brink of a bear market, or suggests a recession
According to Jinshi, futures linked to the S&P 500 index fell further on Monday, down more than 20% from their all-time highs, the most popular benchmark index in the U.S. stock market is about to confirm a bear market. Dow Jones Industrial Average Price Index futures also fell 20% from all-time highs, while the Nasdaq confirmed last week in a bear market as concerns about the recession hit global stock markets after Trump's full tariffs. According to a widely used definition, if an index closes more than 20% below its historical closing high, the index is confirmed to have entered a bear market. The last time the S&P 500 confirmed it was in a bear market was in June 2022, when investors were worried about whether the Fed could curb post-epidemic inflation without triggering a recession. Bear markets often lead to recessions and continue until investors believe the worst phase of the recession has passed. Data from investment research firm CFRA shows that nine of the 12 bear markets since 1948 have been accompanied by economic recession.
Jack Dorsey: Bitcoin can only avoid failure if it becomes a daily payment method
According to Bitcoin.com, Jack Dorsey, CEO of Bitcoin tech company Block, said in the "21 in 21" podcast of Presidio Bitcoin, that although Bitcoin has developed to this day, it may still fail because it may lose the relevance to solve the initial design problem. Dorsey believes that if Bitcoin wants to remain important in daily life, it must be a means of payment, otherwise people will only think of it in an emergency or cash-out manner. He stressed that payment is a key factor in promoting Bitcoin adoption and avoiding its failure. Bitcoin supporters need to create a simple and easy-to-use payment experience, scale and speed up, and compete with Visa and Mastercard networks. In addition, Dorsey also criticized Bitcoin’s Lightning Network, a micro-transaction-oriented Layer2 protocol that has its value but has challenges. He called for opening up to Bitcoin, launching more complementary protocols, focusing on ease of use and practicality. In his opinion, the development of Bitcoin in the payment field is crucial. Only by becoming a daily payment method can one avoid failure due to loss of correlation. Payment may become a key turning point in Bitcoin's future development.
Crypto venture capital companies Electric and Multicoin both grew by more than 50% in 2024
According to Fortune, according to the Securities and Exchange Commission (SEC), new documents required by investment advisers show the size of asset management (AUM) of each company. From 2023 to 2024, according to financial disclosures from six largest crypto venture capital firms: Electric Capital, Pantera Capital, Haun Ventures, Multicoin Capital, Polychain Capital and Paradigm. Both their AUMs grew by more than 10%, with Electric and Multicoin both growing by more than 50%.
Trump: The Fed should cut interest rates
According to Kingsen, Trump said on social media that oil prices have fallen, interest rates have fallen (the slow-moving Fed should cut rates!), food prices have fallen, no inflation, and the long-term hurting U.S. receives billions of dollars in tariffs per week from countries that have hurt the U.S., which are already in place.
According to OnchainLens, a giant whale established an ETH long position with a principal of US$4.52 million and 20 times leverage, closed its position and left the market after holding it for 3 hours, and finally made a profit of US$1.87 million.
Fed's "emergency rate cut" expectation rises
According to King Shi, expectations for an emergency rate cut by the Federal Reserve are rising due to no sign that Trump will make concessions on tariffs. Swap trading shows that the probability of the Fed cutting interest rates by 25 basis points next week is about 40%, far ahead of the Fed's interest rate decision scheduled for May 7. At the same time, investors sold risks and rushed to buy bonds, causing yields to plummet. The yield on the U.S. two-year Treasury, the most sensitive to monetary policy, fell 22 basis points to 3.43% on Monday, and the yield on the U.S. two-year Treasury has fallen by about 50 basis points in total since Trump announced the tax.
Bitcoin plunged to a five-month low, hitting a low of $74,500, a third of its cumulative decline from its all-time high set on January 20, as crypto markets began a pullback after responding to President Trump’s tariffs, according to CoinDesk. The decline has kept Strategy (MSTR)'s Bitcoin investment strategy slightly profitable. The company holds Bitcoin for a total of $35.6 billion, and currently has unrealized profits of about 10%, which means its BTC investment floating profit is about $3.9 billion. Strategy currently holds 528,185 BTC worth $39.5 billion, with an average cost of $67,458 per pc. As of April 2, Japanese listed company Metaplanet disclosed that it holds 4,206 BTC, with an average purchase price of 12,925,027 yen (US$88,800) per coin. The company's Bitcoin investment is currently losing about 15%. Its stock price plummeted 20% on Monday alone, reflecting the huge pressure brought by the market downturn. Semler Scientific (SMLR) also suffered losses in Bitcoin holdings. According to the latest February filing, its average purchase cost is $87,854 per coin. Since the beginning of this year, Bitcoin has fallen 20%, Semler's share price has fallen 38%, Metaplanet's share price has fallen 15%, and Strategy's share price has fallen 2%.
Arthur Hayes: Buy Bitcoin one after another today and will continue to buy it
Arthur Hayes, co-founder of BitMEX, posted on X platform: "I have been buying Bitcoin one after another all day and I will continue to buy it. Although the altcoins have fallen to our sniper zone, I think the proportion of Bitcoin will continue to soar to 70%. So we won't buy a lot in altcoins. Remember, the only solution in the United States is to print money."
Standard Chartered Bank: Bitcoin as a tariff risk hedging tool may rebound to $84,000
According to DL News, Bitcoin has fallen 10% in the past 24 hours and traded just below $74,700 as U.S. President Trump's trade war continues to hit global markets. Geoff Kendrick, head of digital assets research at Standard Chartered Bank, warned: "The trend of cryptocurrencies on Sunday often indicates the performance of the stock market on Monday. If the rules come true, today's opening will be very tragic." Last Friday, the Nasdaq 100 index plummeted 5%, the Dow Jones index plummeted more than 2,200 points. CNBC's Mad Money host Jim Cramer pointed out that this was a "destructive collapse created by mankind", and its trend was surprisingly similar to the first three days of "Black Monday" in 1987. Despite the fierce market, Kendrick believes Bitcoin will benefit in the long run. He expects Bitcoin to quickly rebound to $84,000 last Friday, and proves that although it is not "digital gold", it still has the hedging function during market turbulence. Kendrick emphasized in the report: "Bitcoin will become a tariff risk hedging tool in this round of trade war. The U.S. isolationist policy has intensified the risk of holding fiat currency and will ultimately benefit Bitcoin."
f According to @SigmaSquared monitoring, the GMX v1 platform recently liquidated an old BTC position, incurring more than $13 million in fees, including borrowing fees. It is reported that 30% of this fee will be used to repurchase GMX tokens. Additionally, he mentioned that a TWAP (time-weighted average price order) worth $4 million is being used on tokens with a market capitalization of $100 million.
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