Important information last night this morning (April 9-April 10)
Reprinted from panewslab
04/10/2025·1M
M^0 stablecoin platform launches Solana, KAST will issue the first digital USD based on M^0
According to M^0 official X account, its stablecoin platform has now been launched on Solana network. The first partner KAST will issue KAST Dollar based on the M^0 architecture, focusing on payment and savings scenarios. Other integrators include Spree Finance, Squads Protocol, Jito and Perena. M^0 supports developers to build branded and feature-rich digital dollar solutions through its $M extension framework.
Tether Treasury issues 1 billion USDT in Tron Chain, and has issued 8 billion USDT so far this year
According to Lookonchain monitoring, Tether Treasury issued an additional $1 billion USDT on Tron four hours ago. Since 2025, Tether has issued a total of USDT of USD 8 billion on the Tron chain and destroyed USD 1 billion on the Ethereum chain.
The stablecoin of the Synthetix ecosystem, sUSD, has continued to dean anchor recently, and the degree of dean anchor has now expanded to more than 10%, and sUSD is now at $0.8946. The market value of sUSD stablecoin is currently about US$27 million. Synthetix founder Kain Warwick once tweeted on April 2 to respond to users’ concerns about the deaning of sUSD stablecoin, saying that “Synthetix has not declined” and explained the sUSD fluctuation background by reviewing the history of stablecoin. He pointed out that sUSD does fluctuate more than USDT and DAI, but its design mechanism is different, which is still normal. He also reviewed the evolution of stablecoins since the birth of USDT, bitUSD and Nubits in 2014, emphasizing that even centralized stablecoins such as USDC have significantly deaned.
Magic Eden acquires decentralized trading platform Slingshot
NFT platform Magic Eden has completed the acquisition of decentralized trading platform Slingshot. Magic Eden said that the move will promote its vision of building a cross-chain asset trading platform, achieving a trading experience that supports 8M+ tokens, covers all chains (including upcoming Bitcoin) without cross-bridges or centralized exchanges.
Caroline Pham, acting chairman of the U.S. Commodity Futures Trading Commission (CFTC), praised the Department of Justice's recent announcement to terminate its policy of regulating the digital asset industry through prosecutions, and directed CFTC staff to follow the president's executive order and the Department of Justice's new guidance on digital asset enforcement. Pham said the move will end years of "legal war" against innovators, focus resources on combating fraud and market manipulation, and enhance regulatory clarity and industry trust.
U.S. stocks close: Trump delays trade policy, Nasdaq soars 12%
Trump eased the implementation of reciprocal trade measures, the three major U.S. stock indexes soared, the Dow Jones Industrial Average closed up 7.87%, the S&P 500 rose 9.51%, and the Nasdaq Comprehensive index rose 12.16%. Tesla (TSLA.O) rose 22%, Apple (AAPL.O) rose 15%, and NVDA (NVDA.O) rose 18%. Among blockchain concept stocks, MARA Holdings (MARA) rose 17.02%, Strategy (MSTR.O) rose 24.76%, and Coinbase (COIN.O) rose 16.91%. US President Trump said: The record-breaking performance of the stock market should continue.
Paul Atkins confirms as US SEC chairman
The U.S. Senate voted 52 to 44 to confirm that President Donald Trump's nomination Paul Atkins serves as chairman of the Securities and Exchange Commission (SEC), with a term of office until June 5, 2026. The next confirmation result will be sent to the White House. After President Trump signs, Atkins will be officially sworn in. The specific time has not been clarified. Atkins said it will make the establishment of a digital asset regulatory framework a "priority". The consulting company he founded has served clients including crypto exchanges and DeFi platforms.
White House: Tariff levels will drop to 10% during negotiations
Trump posted on social media that, given that more than 75 countries have called representative agencies of the United States to negotiate with issues related to trade, trade barriers, tariffs, exchange rate manipulation and non-monetary tariffs to find solutions, I have approved the implementation of a 90-day suspension for these countries, which applies to reciprocal tariffs. During this period, general tariffs will be reduced to 10%, and the suspension measures will take effect immediately. The 90-day tariff suspension does not apply to U.S. tariffs against Mexico and Canada. A spokesman for the White House said that tailor-made negotiations will continue, and the tariff levels will be reduced to a general 10% during the negotiations. The White House posted on x that it would suspend 90 days and reduce reciprocal tariffs on most countries to 10%, and take effect immediately.
Web3 social media platform Wunder.Social completes $50 million in financing
According to CoinDesk, Web3 social media platform Wunder.Social announced a $50 million financing round led by Rollman Management. Wunder.Social said in the announcement that the project uses blockchain technology to verify user identity, thereby eliminating robots and sharing advertising revenue with users, allowing users to fund their careers they care about. The company plans to make a token offering later this month, and potential users can register on the company's website. The project also announced that former TikTok marketing director Ryan Martin has joined Wunder.Social as chief marketing officer.
WLFI related wallet sells $8 million worth of Ethereum after losing $125 million
World Liberty Financial, a DeFi project backed by the Trump family, began selling its Ethereum position for $1,465 per coin, although the asset was purchased at $3,259 per coin early this year. Arkham's on-chain data shows that a wallet closely related to World Liberty Financial sold 5,471 ETH for about $8 million on Wednesday after a cumulative loss of $125 million. World Liberty Financial's main wallet still holds $98 million worth of cryptocurrency, of which $11.7 million is Ethereum.
Federal Reserve Mousalem: Economic growth will fall below trend level and inflation risk will rise
According to Kingsen, Federal Reserve Mousalem said that U.S. economic growth may fall “significantly” below the trend level, and unemployment will rise within the year as businesses and households will adapt to prices pushed up by new import tariffs. "I don't have a baseline for recession, but I think economic growth is likely to be significantly below the trend," Mousalem said, estimating that growth is around 2%. He said, "Both-way risks will become a reality." Higher-than-expected tariffs put pressure on prices, lower confidence and recent sharp declines in stock markets may curb spending, hitting household wealth and rising prices will have an impact. These factors combined have led to a slowdown in economic growth. Mousalem, who has voted on interest rate policy this year, said the response to monetary policy will depend on the evolution of inflation and unemployment in the coming months, whether the price shocks continue, and whether inflation expectations are aligned with the Fed's 2% inflation target.
According to Jinshi, the General Administration of Customs issued an announcement that from 12:01 on April 10, 2025, 84% tariff will be imposed on all imported goods originating from the United States on the basis of the current applicable tariff rate; 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 24:01 on May 13, 2025, the tariffs imposed will not be imposed.
Nevada court suspends state government action to block Kalshi operations in forecast market
A federal court in Nevada has approved a preliminary injunction from Kalshi, a cryptocurrency-based forecast market, temporarily preventing the state government from stopping its cryptocurrency-based forecast market operations. Kalshi co-founder Tarek Mansour thanked the court through the X platform for recognizing the platform's status as an exchange regulated by the U.S. Commodity Futures Trading Commission (CFTC).
According to OnchainLens monitoring, an address associated with Andrew Kang (@Rewkang) deposited 2.27 million USDC into Hyperliquid to increase BTC long positions with 40 times leverage. Currently, the value of this long Bitcoin position has exceeded US$100 million.
Fed Kashkali: Tariffs will raise the threshold for interest rate cuts
According to King Shi, Fed Kashkali said that considering the impact of tariffs on inflation, even if the economy begins to deteriorate, the Fed is unlikely to cut interest rates in the face of tariffs. Kashkali said Trump's tariffs were "much higher than expected and much wider than expected", which he expected would lower investment and economic growth and push up inflation "at least in the short term." “The barriers to changing interest rates in some way have increased due to tariffs,” Kashkali wrote. “Given the critical importance of maintaining long-term inflation expectations stable and tariffs may boost recent inflation, the threshold for interest rate cuts is higher even in the context of a weak economy and a possible rise in unemployment.” He noted that the recent inflation expectations indicators have begun to rise, and years of high inflation experience in the U.S. are reasons why the Fed may not be able to ignore any tariff-driven price shocks. “Given the high inflation we have experienced in recent years, and the risk of long-term inflation expectations getting out of control, I think our top priority must be to keep long-term inflation expectations stable,” he said.
According to Cryptonews, tensions are escalating in the PancakeSwap ecosystem. As the largest veCAKE holder and a contributor to PancakeSwap's long-term growth, Cakepie DAO strongly objected to DEX's newly announced token economics proposal 3.0. The proposal, including removal of veCAKE, staking, voting measurement, and revenue sharing programs, has raised many questions, especially in protocols that build an entire ecosystem around these mechanisms. Cakepie DAO posted a fiercely remarkable post on the X platform, expressing deep dissatisfaction with the proposal's removal plan. veCAKE is a governance mechanism designed to reward long-term commitments and coordinate incentives for individual ecosystems. What made Cakepie particularly dissatisfied was the way the proposal was announced. Although Cakepie locked millions of CAKE tokens out of sincerity for four years and continued to contribute to liquidity growth, it claims to have learned about the changes with the public without knowing it. Cakepie has locked in 13 million CAKEs, which it stressed that this sudden change not only undermined its own efforts, but also undermined the trust of the broader community of BNB chain builders. By removing veCAKE, PancakeSwap will shift influence from long-term supporters to giant whales and short-term holders, critics say. What adds fuel to the fire is that Cakepie raises serious concerns about the governance process before the proposal is issued. The DAO claims that shortly before the announcement of Token Economics Proposal Form 3.0, multiple wallets locked in about 25 million CAKE tokens, possibly planning a governance attack. If true, this will allow participants to vote for the proposal and unlock their tokens immediately after the change is passed, undermining the spirit of fair participation. The DAO warns that if the governance process is damaged, it will destroy trust and must not be ignored. For this case with PancakeSwap, Cakepie proposes a series of constructive alternatives rather than abolishing veCAKE completely. These include direct rewards to create real value pools, allowing voting veCAKE holders to receive some transaction fees, and allowing users to exit veCAKE locks early at the cost of paying fines, thereby increasing flexibility while maintaining commitment incentives. Cakepie said these options will solve efficiency issues while maintaining the integrity of long-term token economics and governance.
Traders now price the Fed rate cut may start in June, not May
According to Kingsen, traders now price the Fed rate cut may start in June, not May.
BlackRock deposits 3,296 BTC to Coinbase Prime, worth $254 million
According to Lookonchain monitoring, BlackRock deposited 3,296 bitcoins (worth $254 million) into Coinbase Prime two hours ago.
EU: If the United States reaches a fair agreement, counter-tariffs can be suspended
According to Cailianshe, the EU said that countering tariffs can be suspended if the United States reaches a fair agreement. Previous news, the EU imposed a 25% tariff on the United States.
EU imposes 25% tariffs on the US
According to Cailianshe, 27 EU member states voted to pass countermeasures to impose 25% tariffs on U.S. imported products in retaliation against the Trump administration’s tariffs on steel and aluminum announced on March 12.
Traders believe the Fed will start cutting interest rates in May more than 60%
According to Kingsen, traders believe that the Fed will start cutting interest rates in May is more than 60%.
The Bitcoin staking protocol Babylon issued an announcement stating that the Babylon Genesis chain is scheduled to be released publicly at 18:00 Beijing time on April 10, 2025, and will undergo a short set-up period (used to activate key components such as validator nodes, final providers, supervisors, bridges, etc.). This arrangement is the second phase of Babylon's launch of the Bitcoin staking protocol. At the start of the second phase, eligible airdrop recipients will receive BABY tokens in their registered BABY wallet without receiving them, and BABY token transfers and stakings will be enabled on the first day. It is reported that Babylon Bitcoin staking is launched in three stages. The first stage is to lock Bitcoin staking to expand supply. The second stage is to launch Babylon Genesis, a Layer1 blockchain based on Cosmos-SDK, and the third stage is to launch other BSNs (this will allow other networks to access Bitcoin staking security and liquidity through Babylon Genesis).
GoPlus Security Warning: WebKey DAO and NVB Bank's token contracts are high risk
Web3 security company GoPlus Security posted on X platform that it conducted a security analysis of 11 tokens in the second round of the BNB Chain's $4.4 million liquidity support program, and found that some of the tokens had potential risks. Of its 11 tokens listed, WebKey DAO and NVB Bank are marked as high-risk warnings, BabyMove is marked as medium-risk warnings, and the rest are marked as low-risk ratings (no obvious security risks are found). GoPlus Security said that WebKey DAO's token contracts can be issued in a limited amount of additional issuance, and there are still a large number of tokens for minting, which means that developers can create a large number of new tokens at any time, thereby significantly diluting the value of tokens held by users; NVB Bank's tokens also have unlimited additional issuance functions, and there is no limit on token creation. This contract from BabyMove makes external calls to the upgradeable proxy contract, which can lead to potential problems.
Swedish MPs suggest bitcoin in the country's foreign exchange reserves
According to Bitcoinist, Swedish MP Rickard Nordin has asked the Finance Minister to diversify foreign exchange reserves into Bitcoin. The Swedish parliament recently received a written question, rekindling debate over how the country manages its foreign exchange reserves. The question was raised by Swedish MP Nordin, focusing on whether Sweden should consider including Bitcoin in its official foreign exchange reserves. He stressed that some countries, especially El Salvador, have established Bitcoin as a fiat currency. He further pointed out that central banks around the world are increasingly discussing Bitcoin and its impact on monetary policy, suggesting that the concept of holding BTC may become an integral part of a broader financial defense strategy. Nordin's written inquiry also mentioned the developments in the United States, noting that Bitcoin has appeared in more formal occasions, including ETFs and companies' purchases of Bitcoin.
According to Bitcoin.com, the controversial stablecoin issuer First Digital Trust (FDT), recently responded to the allegations of Tron founder Justin Sun, saying that his transfer of more than $500 million in TUSD reserve funds to Dubai ARIA fund is implemented in response to the investment instructions of partner Techteryx. FDT said that the transfer of funds, which were characterized as "commodity investment", was completed in multiple transactions and disclosed the authorization letter signed by Techteryx on March 14, 2022 as evidence. The letter shows that Techteryx executive Alex de Lorraine explicitly asked FDT CEO Vincent Chok to invest up to $200 million in ARIA commodities, and stressed that "if you have any questions, please contact us immediately." This move adds new clues to the ongoing dispute - Justin Sun, who was previously a consultant to Techteryx, accused FDT of misappropriating $456 million of custody funds without authorization and offering a reward of $50 million to recover stolen assets worldwide. Hong Kong Legislative Council members also warned that if the allegations are true, they would have serious consequences. FDT issued a statement through social platform X in the early morning of April 8, not only refuting Sun Yuchen's "false allegations", but also disclosed screenshots of its cooperation agreement with Techteryx since 2021. It emphasizes that according to the custody terms, "we have no right to question the rationality of customer investment decisions", and the transfer operation fully complies with contractual obligations.
According to Cailianshe, the State Council Tariff Commission issued an announcement today that from 12:01 on April 10, the tariff rate stipulated in the "Announcement of the State Council Tariff Commission on Improving Tariffs on Imported Goods Originating from the United States" (Tax Commission Announcement No. 4 of 2025) will be adjusted, and the tariff rate for all imported goods originating from the United States will be increased from 34% to 84%.
Security company: New cryptocurrency scam malware ClipBanke appears on SourceForge platform
According to Decrypt, cybersecurity company Kaspersky has discovered new cryptocurrency scam malware that tampers with wallet addresses in the clipboard. The attacker disguised the malware as a Microsoft Office plug-in and spread it through the SourceForge platform, but actually induced downloads through the secondary jump link. Analysis shows that malicious code may be written by Russian-speaking developers, with 90% of the victims located in Russia, but the attack may be wider due to the English download page. The malware (ClipBanker) monitors the clipboard and automatically replaces it with the attacker's address when the user copies the cryptocurrency address. Because most users are accustomed to copying and pasting, they often find that they are cheated after the transfer is completed. Kaspersky warned that attackers could sell access to infected devices for more serious criminal activities. Although the installation package is disguised as a normal program of 700MB, the actual malicious part is only 7MB. In the first three months of 2024, more than 4,600 users in Russia have been caught. Experts recommend downloading software only from official channels and avoiding using non-trusted sources in case of similar attacks.
According to Cailianshe, the latest US stock research report released by Goldman Sachs shows that the US stock bear market may last longer. It is currently in an event-driven bear market (induced by tariffs). However, given the rising risk of recession, it can easily evolve into a cyclical bear market. Goldman Sachs further analyzed that from the trend, the average decline in cyclical bear markets and event-driven bear markets is usually around 30%, although their duration varies. Event-driven bear markets last shorter and recover faster. Cyclic bear markets last about two years on average, and take about five years to fully rebound to the starting point, while event-driven bear markets usually last about eight months and recover in about one year. The most severe impact of the structural bear market, with an average drop of about 60%, lasting more than three years and usually takes ten years to fully recover.
NBA star O'Neal to pay $11 million to reach final settlement over Astrals NFT lawsuit
NBA star Shaquille O'Neal has agreed to pay $11 million to resolve a class action lawsuit related to his involvement in Solana-based NFT project Astrals, Cryptonews reported. On April 1, Florida federal judge Federico Moreno approved the final settlement, the order made public April 8. The settlement sets up a $11 million fund for qualified investors who purchase Astrals NFTs or acquire GLXY tokens for the project between May 2022 and January 15, 2024. The lawsuit was originally filed in May 2023, accusing Shaquille O'Neal of promoting and helping launch the Astrals NFT series, which the plaintiff believes is equivalent to an unregistered securities sale. They claimed they suffered financial losses due to O'Neal's promotion.
According to Cointelegraph, Argentina House of Representatives members support an investigation into the alleged involvement of the Libra (LIBRA) cryptocurrency scandal. House members passed the proposal for investigation with 128 votes in favor, 93 votes against and 7 abstentions. Previously, the proposal failed to be advanced in the Senate. Before this news came out, Milei promoted Meme currency LIBRA on social media. With the credibility of government officials and 3.8 million followers, the token price quickly climbed to $5, and its market value briefly hit $4 billion. Milei has since faced charges of misconduct. Critics say LIBRA is a "rug-pull" scam, and Milei tricks investors into joining the market. Lawyer Jonatan Baldiviezo, along with Marcos Zelaya, engineer María Eva Koutsovitis, and former Argentina central bank governor and economist Claudio Lozano, filed a lawsuit against Mile for fraud.
21Shares cooperates with House of Dogecoin Foundation to launch Dogecoin ETP in Europe
According to Globenewswire, cryptocurrency ETP issuer 21Shares AG has reached an exclusive cooperation with House of Doge, a commercial organization under the Dogecoin Foundation to launch the first ETP product (code: DOGE) officially certified by the Dogecoin Foundation, which will be listed and traded on the Swiss Stock Exchange SIX. 21Shares Dogecoin ETP is 100% supported in-kind, and the product management fee is 2.5%.
Singapore's crypto investment institution QCP Capital issued a statement saying that after the United States imposed a new round of tariffs on China, the overnight market decline expanded, and the total tax amount on Chinese imported goods reached 104%. The market volatility remains violent, with the Volatility Index (VIX) remaining above 40 for the third consecutive trading day. Even traditional safe-haven assets have failed to play their expected role. Safe-haven assets failed to provide effective hedging, and gold and U.S. Treasuries were sold off as investors scrambled to reduce risks and respond to margin calls. The Trump administration’s strategy of refinancing U.S. debt at lower rates showed signs of tension, with bond yields soaring across maturity. The yield on the 10-year U.S. Treasury bond reached 4.50% at one point, while the yield on the 30-year Treasury bond briefly exceeded 5%. The credit spread continues to widen, reflecting the overall deterioration of risk sentiment. Instead of adjusting his strategy, Trump appears to have adopted a Martingale-like strategy, doubling down his bets in every retaliatory action. Since China holds most of the initiative, the question becomes: How many bargaining chips can the United States invest? The market currently hopes for two support forces, namely "Trump put options" or "Feder put options" to provide bottom support. But neither support seems to appear immediately. As unemployment remains stable and inflation shows signs of recovery, the Fed may maintain current interest rates for the foreseeable future. This is in sharp contrast to market pricing, which reflects expectations for four interest rate cuts in 2025, and even speculations about interest rate cuts between meetings. Bitcoin consolidated around $75,000, but if the stock market fell sharply again, that level could collapse. Ethereum continues to perform poorly, falling to $1,400, which is the level since early 2023. Against the backdrop of intensifying market volatility, cryptocurrency earnings strategies have attracted renewed attention. Increased implicit volatility provides an attractive opportunity to earn interest spreads through structured trading.
