Weekly Preview | U.S. House of Representatives will hold a hearing to promote digital asset regulation legislation; FTX starts the next round of distribution registration
Reprinted from panewslab
04/06/2025·24DNews trailer:
- Trump's proposed higher reciprocal tariff rate of 11% to 50% will take effect on April 9;
- Saga (SAGA) will unlock approximately 133 million tokens at 4 pm Beijing time on April 9, with a ratio of 118.54% to the current circulation, worth approximately US$35.1 million;
- The U.S. House of Representatives will hold a hearing on April 9 to promote legislation on digital asset regulation;
- The registration date for the next round of FTX allocation is April 11;
- The US SEC will hold its second roundtable on cryptocurrency regulation on April 11;
- Aptos (APT) will unlock approximately 11.31 million tokens at 4 pm Beijing time on April 12, with a ratio of 1.87% to the current circulation, worth approximately US$53.7 million;
- Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8 a.m. Beijing time on April 13, worth approximately US$161 million
April 7
Project News:
BNB Chain 's AI Agent Competition will end on April 7
BNB Chain launches the AI Agent competition, aiming to encourage innovation and tap into potential AI decentralized applications. The competition aims to encourage innovation and development in the field of AI, which is in line with the development direction of BNB Chain AI First. The competition will have 8 rounds in total and will end on April 7, 2025. In each round, the best performing AI agents will be selected based on specific criteria, including market cap ranking, market cap growth, community member influence and community engagement. The BNB Chain Foundation will use BNB to purchase $10,000 worth of winning AI project tokens per round and distribute them to 1,000 users holding these tokens through airdrops.
Token unlock:
Neon (NEON) will unlock approximately 53.91 million tokens at 8 a.m. Beijing time on April 7, with a ratio of 22.51% to the current circulation, worth approximately US$6.1 million.
April 8
Exchange:
Ouyi OKX announced that it will regularly remove some perpetual contracts, and the following trading pairs will be stopped at 16:00 on April 8, 2025 (Beijing time): MAXUSDT, KISHUUSDT, 1INCHUSD and GRTUSD.
Bybit will officially close NFT, inscription and ID0 services on April 8
According to Bybit's announcement, in order to optimize the product structure, Bybit Web3 will officially close the NFT market, inscription market and ID0 pages from 24:00 Beijing time on April 8. Users need to properly manage the relevant assets before this and transfer the airdrop tokens from the Web3 cloud wallet to the seed phrase or private key wallet.
Token unlock:
Tensor (TNSR) will unlock approximately 120 million tokens at 11:00 pm Beijing time on April 8, with a ratio of 35.86% to the current circulation, worth approximately US$15.1 million.
April 9
Macroeconomics:
On Wednesday (April 2), US President Trump signed two executive orders on so-called "reciprocal tariffs" at the White House, announcing that the United States has set up a 10% "minimum benchmark tariff" on all trading partners and impose higher tariffs on multiple trading partners. Trump said the United States will impose reciprocal tariffs on dozens of trading partners, but the tariffs will not be completely reciprocal, and the United States will charge these countries and regions about half of the comprehensive tax rate. Trump showed a poster listing the peer tariffs. The chart shows that the United States implements a 34% reciprocal tariff on China, a 20% reciprocal tariff on the EU, a 10% reciprocal tariff on Brazil and the United Kingdom, a 31% reciprocal tariff on Switzerland, a 26% reciprocal tariff on India, a 25% reciprocal tariff on South Korea, a 24% reciprocal tariff on Japan, a 32% reciprocal tariff on Indonesia, a 36% reciprocal tariff on Thailand, a 46% reciprocal tariff on Vietnam, and a 49% reciprocal tariff on Cambodia.
Senior White House officials said that the benchmark tariff rate (10%) will take effect in the early morning of April 5, and the reciprocal tariff will take effect in the early morning of April 9, and the exemption of goods under the US-Mexico-Canada Agreement will continue. For goods that do not comply with the US-Mexico-Canada Agreement, the tariff will remain at 25%. Previously, several trading partners have stated that they will take countermeasures to respond. European Commission President von der Leyen said that in the face of the new tariffs to be issued by the Trump administration in the United States, the EU "has many cards" and has formulated a strong countermeasure plan that will be implemented if necessary. Canadian Prime Minister Carney said that if Trump fulfills his promise of "reciprocal tariffs", Canada plans to impose counter-tariffs on U.S. goods this week. Carney warned that Canada’s relations with the United States have undergone fundamental changes and that Canada has “a number of measures to deal with”.
Policy Supervision:
The U.S. House Financial Services Committee’s Digital Assets Panel will hold a hearing on April 9 titled “U.S. Innovation and the Future of Digital Assets: Adjusting Securities Law to Adapt the Digital Age,” the first public effort in the 119th Congress to develop a federal regulatory framework for the $2.7 trillion crypto industry. The House plans to release a revised version of the market structure legislation in the coming weeks and consider the STABLE Act next week, the bill is the corresponding version of the Senate GENIUS Act. Republican leadership is striving to send the stablecoin and market structure bill to President Trump for signature before the August recession.
US SEC postpones BlackRock Ethereum ETF option trading decision to April 9
The Securities and Exchange Commission on Friday delayed its decision to approve BlackRock's listing and trading options on its spot Ethereum ETF. According to the filings, the SEC said it will decide on April 9, 2025 whether to approve or refuse to allow BlackRock's iShares Ethereum Trust to conduct options trading. "The committee believes it is necessary to designate a longer time to issue an order to approve or reject the proposed rule changes so that there is enough time to consider the proposed rule changes and the issues it raises." Also on Friday, the SEC solicited public comment on the proposal to list and trade options on its spot Ethereum ETF submitted by the Cboe BZX Exchange on behalf of Fidelity. These comments must be submitted within 21 days of the publication of the Federal Register.
Token unlock:
Saga (SAGA) will unlock approximately 133 million tokens at 4 pm Beijing time on April 9, with a ratio of 118.54% to the current circulation, worth approximately US$35.1 million.
Movement (MOVE) will unlock approximately 50 million tokens at 8 pm Beijing time on April 9, with a ratio of 2.04% to the current circulation, worth approximately US$18.5 million.
April 10
Macroeconomics:
2 a.m.: Federal Reserve releases minutes of March monetary policy meeting
8:30 pm: US March CPI data, number of initial unemployment claims in the week from the United States to April 5
According to China News Network, on April 2, 2025, the US government announced that it would impose "reciprocal tariffs" on Chinese goods imported to the United States. The US's approach does not comply with international trade rules and seriously damages China's legitimate rights and interests. It is a typical unilateral bullying practice, which not only harms the US's own interests, but also endangers global economic development and stability of production and supply chains.
In accordance with the "Tariff Law of the People's Republic of China", "Customs Law of the People's Republic of China", "Foreign Trade Law of the People's Republic of China" and other laws and basic principles of international law, with the approval of the State Council, the Tariffs Commission of the State Council issued an announcement that from 12:01 on April 10, 2025, a 34% tariff will be imposed on all imported goods originating from the United States. Before 12:01 on April 10, 2025, the goods have been shipped from the place of departure and imported from 12:01 on April 10, 2025 to 24:00 on May 13, 2025, the tariffs imposed this time will not be imposed. China urges the US to immediately abolish unilateral tariff measures and resolve trade differences through consultations through equality, respect and reciprocity.
Exchange:
Coinbase International Station will launch NIL, VINE, GUNZ and EDGE perpetual contracts on April 10
According to the Coinbase International Exchange announcement, 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 time on April 10, 2025, with the codes NIL-PERP, VINE-PERP, GUN-PERP and EDGE-PERP respectively.
Project News:
UXLINK announces Season 3 airdrop plan, April 10 snapshot
Web3 social platform and infrastructure UXLINK announced the launch of the Season 3 airdrop program on March 11, 2025 and the launch of exclusive NFT projects for Japanese and Korean users. The airdrop snapshot time is April 10, and the collection period starts from April 18. The total airdrop volume is expected to not exceed 3.077% of the total supply, lower than 10% of the previous S1 and S2. Airdrop objects include community users using the OAOG protocol, developers and partners of testnets and AI growth agents, S3 staking activity participants and other active users.
At the same time, UXLINK plans to pilot the launch of "Social Club Cards" in the form of NFT in Japan and South Korea, denominated in ETH. Cardholders can enjoy rights including airdrop priority, free payment cards, ecological airdrop participation and priority entry for offline activities. Officials said the plan may expand to other regions in the future.
Do Kwon hearings are postponed to April 10 as more time is needed to review 4TB of new evidence
The settlement of its court case was delayed by a month as the U.S. government claims that the defense team of Terraform Labs founder Do Kwon needs more time to review the additional 4TB of evidence. The status meeting, which was scheduled for March 10 (both lawyers discuss the current progress of the case and possible solutions) has been postponed. The New York District Court yesterday extended the meeting until April 10, according to a written request filed by the U.S. government. The court agreed to the U.S. request and said it would postpone the meeting "so that the defense can review a large amount of evidence."
The U.S. government claims to have submitted 600GB of evidence to the defense on February 27, including Do Kwon's mobile phone data, email and cryptocurrency transaction records. In addition, the government also said that "any additional 4TB of evidence is expected to be provided to the defense before the end of next week." The court order postponed the meeting stated that the final trial "is still scheduled for January 26, 2026."
U.S. judge postpones Mango Markets attacker 's verdict date to April 10
Avraham "Avi" Eisenberg, who was convicted of fraud and market manipulation for exploiting a decentralized exchange Mango Markets vulnerability, will be sentenced on April 10. In a January 8 filing with the U.S. District Court for the Southern District of New York (SDNY), Judge Arun Subramanian postponed his sentencing hearing until April 10 at the request of his attorney Eisenberg. He was scheduled to be sentenced at a December 12 hearing, and was later postponed to February 11 after his conviction in April 2024. The legal team of Mango Markets exploiters requested a postponement on January 7, citing “the factual record of the case and the complexity of partial sentencing issues.” The U.S. Attorney's Office has not raised any objections to the change.
In October 2022, Eisenberg stole more than $100 million through a vulnerability attack on Mango Markets. Although he returned about $67 million, he retained more than $40 million after the community governance vote. In December of the same year, Eisenberg was arrested by U.S. authorities and has been detained for nearly two years. If sentenced to the maximum sentence, he could face 20 years in prison. In addition, Eisenberg may also face civil law enforcement actions from the US SEC and CFTC. The two cases were suspended in March 2023 and may be restarted after the criminal case is over.
April 11
Macroeconomics:
8:30 pm: US March PPI data
Policy Supervision:
US SEC will hold its second roundtable on crypto regulation on April 11
The Securities and Exchange Commission (SEC) will hold its second roundtable on cryptocurrency regulation from 1:00 to 5:00 PM Eastern Time on April 11 with the theme of "Tailed Supervision for Cryptocurrency Transactions."
Exchange:
The registration date for the next round of FTX allocation is April 11
According to FTX creditor Sunil, the registration date for FTX's next round of allocation is set to April 11, 2025, and the allocation starts on May 30, 2025. The payments for this allocation are: claims with an amount of more than $50,000, and those with less than $50,000 that have been approved but have not received the payment in the first allocation.
April 12
Developer Activities:
YZi Labs will collaborate with AGI House and DoraHacks to host a hackathon on April 12 and 13
YZi Labs announced that it will launch the Global Hackathon in April 2025, including an offline event held at AGI House in Silicon Valley on April 12 (a special invitation to CZ online speech) and an online Hackathon in partnership with DoraHacks from April 13 to 27. In addition, a BUIDLer Breakfast exchange event will be held at Stanford University on April 13. Participants will build innovative financial products around AI+ blockchain, including AI investment assistants, on-chain data analysis and anti-fraud, financial document processing and compliance technology, etc. The winner will have the opportunity to join the YZi Labs Incubation Program and receive direct investment opportunities.
Token unlock:
Aptos (APT) will unlock approximately 11.31 million tokens at 4 pm Beijing time on April 12, with a ratio of 1.87% to the current circulation, worth approximately US$53.7 million.
Axie Infinity (AXS) will unlock approximately 9.09 million tokens at 9:10 pm on April 12, Beijing time, with a ratio of 5.68% to the current circulation, worth approximately US$24.5 million.
April 13
Project News:
The cross-chain interoperability protocol Hyperlane will airdrop the token $HYPER on April 22, with 57% of the total supply allocated to community users, and the team, investors and foundations will be allocated 25%, 10.9% and 7.1% respectively. The community airdrop part will be fully unlocked, while the team and investor tokens will be locked for 12 months. Users must check the qualifications through the official portal before April 13.
Token unlock:
Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8 a.m. Beijing time on April 13, worth approximately US$161 million
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