PA Daily | The probability of the Federal Reserve cutting interest rates by 25 basis points in May is 57%; Binance will remove 14 tokens
Reprinted from panewslab
04/08/2025·1MToday's news tips:
Bitcoin spot ETF net outflow for three consecutive days, with net outflow of $109 million yesterday
U.S. Chamber of Commerce considers suing Trump administration to block global tariffs
US SEC announces agenda for the crypto trading roundtable on April 11
The probability of the Fed cutting interest rates by 25 basis points in May is 57%
Binance will launch FORTHUSDT perpetual contract
Binance will remove the first batch of 14 tokens to vote on April 16
Regulatory/Macro
U.S. Chamber of Commerce considers suing Trump administration to block global tariffs
According to Fortune magazine, two sources said the US Chamber of Commerce, the largest lobbying force in the U.S. business world, is considering suing the Trump administration to block new tariffs that will take effect on Wednesday. The organization represents millions of large and small businesses in the United States, with substantial funding from industry giants, has been weighing the possibility of bringing tariff disputes to court, and some of the organization's larger members are urging to do so. Other groups are also likely to file lawsuits with the chamber, one of the sources said.
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.
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%.
Viewpoint
Euroex CEO Stephane Boujnah said some European investors have begun to transfer physical assets such as gold from the United States to Europe due to uneasiness caused by the Trump administration's trade policy. He noted that the market is trying to adapt to a changing United States, and Europe has attracted more investors' attention due to property rights and environmental stability. Since Trump announced the full tariffs, global stock markets have evaporated by about $10 trillion. Boujnah believes that this change makes Europe more attractive to investors.
Billionaire Ken Fisher, founder of Fisher Investments, slammed Trump's latest tariff policy on social platform X, calling it "stupid, wrong and extreme" and pointed out that the tariff policy attempts to resolve the "false proposition" of the U.S. trade deficit. He believes that the trade deficit has never had a causal or predictive effect on the economy, and Trump's remarks are "completely wrong". In addition, Fisher criticized the implementation of the policy for many practical obstacles, including insufficient customs enforcement capabilities and legal challenges. Fisher stressed that the market's fear of tariff policies is far beyond the actual problem, which may be a bullish signal. He predicted that this market reaction may be similar to the stock market correction in 1998, and it will eventually achieve an annual return of 26% that year. He also warned that if Republican congressmen cannot quickly restrain Trump's tariff policies, future midterm elections could become "bloody slaughterhouses."
Matrixport analysis pointed out that the US dollar against the RMB (USDCNY) exchange rate is approaching key technical resistance levels, which may indicate that Bitcoin is about to usher in a new round of rapid rise. Analysis mentioned that after the RMB depreciated in 2015, Bitcoin suffered a sell-off, but rebounded strongly at the end of the year and closed up all year round. The current market may repeat a similar scenario. In addition, this judgment echoes the view that gold is bullish 18 months ago, when gold was considered to be "artificially suppressed and ready to go." At the same time, Matrixport also mentioned that the correlation between USDCNY and the yield on 10-year U.S. Treasury bonds is worth paying attention to. Although US Treasury yields have declined recently, if there is a rapid rebound, it may put some pressure on Bitcoin's upward actions in the short term.
Project News
Ethereum Foundation once again transferred 1000 ETH to the multi-sign address 2 hours ago
According to @ai_9684xtpa monitoring, the Ethereum Foundation transferred 1,000 ETH to the multi-sign address 0x4e6...03cB6 within two hours, worth about US$1.58 million. This is the foundation's transfer after three months. The address is mainly used for funding distribution, and has transferred a total of 12,150 ETH since May 2021, with a total value of approximately US$25.3 million.
Binance will launch FORTHUSDT perpetual contract
According to Binance announcement, the platform will launch the FORTHUSDT perpetual contract at 08:30 UTC time on April 8, 2025 (16:30 Beijing time), supporting up to 20 times of leverage. FORTH is the governance token of Ampleforth (AMPL). FORTH holders may vote on proposed changes to the Ampleforth Agreement or delegate their vote to the representatives who vote on their behalf.
Binance will remove the first batch of 14 tokens to vote on April 16
According to Binance announcement, the platform will remove 14 tokens including BADGER, BAL, BETA, CREAM, CTXC, ELF, FIRO, HARD, NULS, PROS, SNT, TROY, UFT, and VIDT on April 16, 2025. The removal of this time is based on the results of "voting removal" and the evaluation of multiple standards such as project team activity, liquidity, and transparency. Binance reminds that other tokens that have not been selected by the first batch may still be removed in the future due to failure to meet the standards.
Binance's fourth phase of Megadrop project KernelDAO will be opened at 8:00 on April 9
According to Binance announcement, the KERNEL Megadrop, the fourth Megadrop project launched by the platform, will be opened at 08:00 on April 9, Beijing time and will last until 07:59 on April 14. Binance will launch KERNEL at 20:00 on April 14 and open five trading pairs including KERNEL/USDT, and the seed label rules apply.
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.
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.
Important data
Perhaps affected by Binance's removal, four tokens including PROS and FIRO fell by more than 50%.
According to Binance market data, perhaps affected by Binance's 14 tokens to be removed from the shelves, PROS and FIRO fell by more than 50%, of which: PROS fell by 54.66% in a short time and is now quoted at US$0.1131; FIRO fell by 51.99% in a short time and is now quoted at US$0.349; BETA fell by 50.78% in a short time and is now quoted at US$0.008; CREAM fell by 50.53% in a short time and is now quoted at US$1.87; VIDT fell by 44.54% in a short time and is now quoted at US$0.012; NULS fell by 44.15% in a short time and is now quoted at US$0.046; UFT fell by 43.75% in a short time and is now quoted at US$0.0225; Previous news, Binance will remove the first batch of 14 tokens to vote on April 16.
USDC Treasury destroys 51 million USDCs on Ethereum chain
According to Whale Alert, at 13:26 Beijing time, USDC issuer USDC Treasury destroyed 51,007,752 USDC (approximately US$51 million) on the Ethereum chain.
Bitcoin spot ETF net outflow for three consecutive days, with net outflow of $109 million yesterday
According to SoSoValue data, on April 7, Eastern Time, the total net outflow of Bitcoin spot ETFs was US$109 million in a single day, with capital outflows for three consecutive days. Among them, Grayscale GBTC had a net outflow of US$74.0068 million in a single day, with a cumulative outflow of US$22.695 billion; BTCO had a net outflow of US$12.8606 million. The current total net asset value of BTC spot ETF is US$87.859 billion, accounting for 5.61% of Bitcoin's total market value.
According to Lookonchain monitoring, a Bitcoin wallet that has been silent for 10 years has just transferred all 365 BTC, which is about $29 million at the current price. The wallet received the batch of bitcoins for about $284 per coin a decade ago.
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.
Financing
AI video startup Runway raises $308 million in financing, with a valuation of $3 billion
AI video generation company Runway raised US$308 million in a new round of financing, and its valuation jumped to over US$3 billion. This round of financing was led by General Atlantic, with Nvidia and SoftBank Vision Fund No. 2 and others participating. Runway will use funds to strengthen AI model research and development and expand its creative team. Its software has been applied to projects such as Amazon dramas, Madonna Tour and Puma advertising. The recently launched Gen-4 model supports role-scene consistency, and has achieved major technological breakthroughs.
Bitcoin DeFi aggregation protocol Sats Terminal completed a $1.7 million Pre-Seed round of financing, led by Coinbase Ventures and Draper Associates, led by Draper Dragon, BitcoinFi Accelerator, UTXO Management, Core Chain Ventures, Sats Ventures, Delta Blockchain Fund, Tenzor Capital and 3Commas Capital, and a group of angel investors participated. The new funding will be used to expand its platform. By providing deDEX, cross-chain bridges and earnings aggregation in the Bitcoin ecosystem, Sats Terminal will use this financing to further develop infrastructure.
Earnings stablecoin protocol Cap announced on Monday that it has 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.
Cryptocurrency-to-fiat currency application P2P.me completed a $2 million seed round, with Multicoin and Coinbase Ventures participating. According to reports, P2P.me uses a group of intermediary networks to enable users to pay to merchants who only accept fiat currency using stablecoins, and the transaction process takes about 90 seconds. The platform uses zero-knowledge proof technology to verify user identity to ensure privacy and security.
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