Weekly Preview | Trump's "peer-to-peer tariffs" take effect on April 2; Terraform Labs opens crypto creditor claims portal
Reprinted from panewslab
03/30/2025·1MNews trailer:
- Binance will list GUNZ (GUN) at 21:00 on March 31 (East Eighth District Time), and open GUN/USDT, GUN/BNB, GUN/FDUSD and GUN/TRY trading markets;
- Terraform Labs will open the crypto creditor claims portal on March 31;
- The Cayman Islands’ new cryptocurrency regulatory framework introduces new licensing regulations, effective April 1;
- Sui (SUI) will unlock approximately 64.19 million tokens at 8 a.m. Beijing time on April 1, Beijing time, with a ratio of 2.03% to the current circulation, worth about US$152 million;
- Trump said reciprocal tariffs will be implemented on April 2;
- The U.S. House Financial Services Committee is expected to review the draft stablecoin legislation on April 2;
- Wormhole (W) will unlock approximately 1.39 billion tokens at 7:30 pm on April 3, Beijing time, with a ratio of 47.4% to the current circulation, and a value of approximately US$117 million;
- The 2025 Hong Kong Web3 Carnival will be held from April 6 to 9, co-organized by Wanxiang Blockchain Laboratory and HashKey Group, and hosted by W3ME
March 31
Policy Supervision:
The Liberal Democratic Party of Japan (LDP) has drafted a proposal for crypto tax reform, intending to reduce the cryptocurrency tax rate from up to 55% to 20%, and reclassify it as a financial product, which applies to the Financial Commodity Trading Act, similar to the tax model of securities investment. Currently, Japan regards cryptocurrency earnings as "miscellaneous income" with a maximum tax rate of 55%. If the proposal is approved, crypto assets may receive independent tax treatment and lay the foundation for spot crypto ETFs. The Liberal Democratic Party is soliciting opinions from the public until March 31 and will be submitted to the Finance Department (FSA) for review. The FSA previously announced that it would announce new cryptocurrency regulatory directions by June at the latest.
Exchange:
Binance will be available at 9pm on March 31st GUNZ (GUN)
Binance Launchpool is now available in the 66th phase project GUNZ (GUN), an L1 public chain of AAA games developed by Gunzilla games. Users can invest BNB, FDUSD and USDC into the GUN reward pool after 8:00 on March 28 (East Eighth District time), and the event duration is 3 days. Binance will list GUNZ (GUN) at 21:00 on March 31 (East Eighth District Time), and open GUN/USDT, GUN/BNB, GUN/FDUSD and GUN/TRY trading markets.
Ark Invest 's three ETFs, ARKK, ARKW and ARKF, may open trading on Cboe BZX around March 31
ARK Investment Management plans to change the main listing locations of its three innovative ETFs from NYSE Arca, Inc. to Cboe BZX Exchange, Inc. These three funds are:
- ARK Innovation ETF (ARKK): This flagship fund focuses on disruptive innovation in multiple fields, providing investors with cutting-edge technologies that shape our future.
- ARK Next Generation Internet ETF (ARKW): A vibrant fund that captures the development of the Internet, including advances driven by artificial intelligence and blockchain technology.
- ARK FinTech Innovation ETF (ARKF): A forward-looking fund for companies at the forefront of the fintech revolution.
ARK expects these ETFs to start trading on Cboe BZX Exchange, Inc. on its current stock code around March 31, but that date is subject to change. This change requires no shareholder action.
Project News:
mtnDAO will launch unlimited sales of $MTN tokens on MetaDAO Launchpad on March 31
mtnDAO announced that $MTN token sales will be launched on MetaDAO's Launchpad on March 31, 2025, adopting an unlimited sales model, with sales lasting 7 days, with a deadline of April 6, and the final token price will be determined based on the ratio of the total USDC raised to $10 million MTN. mtnCapital will serve as a tokenized investment fund governed by futarchy , focusing on the Solana ecosystem, with all decisions made through the MetaDAO governance platform. The sale will be sold at $10 million MTN, with an additional $1 million MTN casting into the fiscal treasury and paired with 10% of the raised funds to support liquidity. The supply of $MTN will be adjusted dynamically and controlled by DAO.
Terraform Labs to open the crypto creditor claims portal on March 31
Terraform Labs, the company behind TerraUSD and LUNA, will open its claims portal for cryptocurrency creditors on March 31 after filing for Chapter 11 bankruptcy in January 2024. Eligible creditors must register on the Claims Portal by April 30, 2025. Claims filed after the deadline will not be accepted. To file a claim, creditors must provide proof of their cryptocurrency ownership, including the wallet address of the native asset and the read-only API key of the cryptocurrency held by the centralized exchange. Previously, Reuters reported that Terraform said it could repay $185 million to $442 million to creditors as part of a restructuring plan approved by U.S. bankruptcy judge Brendan Shannon.
Four.meme will switch to PancakeSwap V2 liquidity scheme on March 31 and destroy new token LP
Four.meme tweeted that it will implement a major update, and the platform will switch to the PancakeSwap V2 liquidity solution on March 31 (the specific time is to be determined). All newly created and launched token LPs will be directly destroyed after they are launched.
Token unlock:
Optimism (OP) will unlock approximately 31.34 million tokens at 8 am on March 31, Beijing time, with a ratio of 1.93% to the current circulation, worth approximately US$23.8 million.
April 1
Macroeconomics:
According to Wall Street News, the Federal Reserve remained unchanged -maintaining the target range of federal funds rate between 4.25% and 4.50%, in line with market expectations. The pace of balance sheet reduction began to slow down on April 1, lowering the upper limit of monthly reduction in US Treasury bonds to US$5 billion, and maintaining the scale of monthly reduction in mortgage-backed securities (MBS) unchanged at US$35 billion. The resolution statement said: The uncertainty faced by the economy has increased, lowered the growth expectations for 2025 and raised inflation expectations. Eliminate the wording about the roughly balanced risks faced by the Fed’s goals (maintaining price stability + achieving full employment). Federal Reserve Director Waller supported the FOMC interest rate decision but objected to the balance sheet decision.
Policy Supervision:
The Cayman Islands has updated its cryptocurrency regulatory framework and has developed new licensing regulations that will take effect from April 1, 2025. Under the Virtual Assets (Service Providers) (Amendment) Ordinance 2025, all entities that provide virtual asset custody and trading platform services are required to obtain a license issued by the Cayman Islands Financial Authority (CIMA). Existing Virtual Asset Service Providers (VASPs) must submit a license application within 90 days of the effective date. As part of the application process, crypto asset custodians must disclose the type and quantity of virtual assets they intend to hold for their clients, while trading platform operators are required to provide detailed information on the expected revenue and where they are located.
Exchange:
Binance will completely remove spot trading pairs of non-MiCA compliant stablecoins from April 1
Binance announced that in order to comply with the latest EU regulatory requirements on stablecoins, it will adjust the use of non-MiCA (Crypto Asset Market Regulation Regulations) compliant stablecoins in the European Economic Area (EEA). These affected assets include USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC and PAXG.
MiCA compliant stablecoin trading pairs (such as USDC and EURI) and fiat currency trading pairs (such as EUR) will continue to be available and unaffected. Binance recommends that users convert their non-MiCA compliant stablecoins (such as USDT) to USDC, EURI or EUR as soon as possible. The custody function of non-MiCA compliant stablecoins will remain, and users can deposit and access these assets at any time. Spot trading Starting from 07:59 on April 1, 2025 (Beijing time), spot trading pairs of non-MiCA compliant stablecoins will be completely removed from the shelves, and users can still sell their remaining assets through Binance Convert.
It is reported that MiCA requires non-compliant stablecoins to be fully restricted by the end of the first quarter of 2025 , but the exchange can offer limited sale options by March 31. Crypto.com confirmed that it will remove USDT and nine other tokens from European platforms starting January 31, after Coinbase removed USDT on December 2024 on compliance. Kraken previously announced that from March 31, all non-compliant currencies held on Kraken's European platform will be converted into "equal stablecoins".
Binance will remove USDT/CZK and USDT/RON trading pairs at 07:59 on April 1
Project News:
IOST announced that the IOST 3.0 main network has now been put into operation. In order to protect the rights of token holders, snapshots have been performed at 0:00 UTC time on March 15 (8:00 Beijing time today) to ensure the upcoming TGE. According to the subsequent plan, the airdrop query portal is planned to be launched on April 1, when users can check the token application qualification. In addition, the equity pledge portal is planned to be launched in early April.
Astar Network announced on the X platform that the Astar zkEVM network shutdown date is approaching, and it is recommended that users withdraw all assets before April 1.
Metaplanet announces a 10:1 share split on April 1
Japanese bitcoin company Metaplanet announced that it will conduct a 10:1 stock split on April 1, 2025. The decision was made against the backdrop of a 3,900% rise in the company's share price, with the aim of reducing minimum investment costs and improving market liquidity. Metaplanet has been buying Bitcoin since April 2024 and has accumulated 2,031 Bitcoins, with a market value of nearly US$200 million. These bitcoin purchases are the main factor in the company's becoming the best performing Japanese stock in the past 12 months. The company said the stock split will help reduce the financial burden on investors, expand the investor base and strengthen ties with a wider range of shareholders.
Jupiter tweeted that the complaint filed by Jupuary’s airdrop that was marked as a witch/Bot user will end at 7:59 (UTC+8) on April 1, and the team will review and handle valid complaints by the end of May.
Token unlock:
Sui (SUI) will unlock approximately 64.19 million tokens at 8 a.m. Beijing time on April 1, Beijing time, with a ratio of 2.03% to the current circulation, worth approximately US$152 million.
ZetaChain (ZETA) will unlock approximately 44.26 million tokens at 8 am on April 1, Beijing time, with a ratio of 6.05% to current circulation and a value of approximately US$13.2 million.
dydx (DYDX) will unlock approximately 8.33 million tokens at 8 a.m. Beijing time on April 1, Beijing time, with a ratio of 1.09% to the current circulation and a value of approximately US$5.4 million.
April 2
Macroeconomics:
Trump: Peer-to-peer tariffs will begin on April 2
U.S. President Trump said reciprocal tariffs will begin on April 2. Tariffs on Canada and Mexico will begin on Tuesday.
April 2 may become a watershed in global assets : before the date of the reciprocal tariff announcement, investors are more cautious because they are not clear about what specific tariffs Trump will implement. Bank of America Forex analysts Athanasios Vamvakidis and Claudio Piron said in a note that risks are balanced before next week’s deadline arrives. It is already a market expectation to impose tariffs on specific products. Comprehensive tariffs will be a negative surprise. The dollar is not expected to continue to strengthen under this situation.
Policy Supervision:
The U.S. House Financial Services Committee is expected to review the draft stablecoin legislation on April 2. Arkansas Chairman French Hill said last week that a well-regulated stablecoin market would “strengthen the dominance of the dollar, modernize our payment infrastructure, and promote the popularity of financial services without excessive government intervention.” But critics such as House Committee Democratic Leader Maxine Waters and Senate Banking Committee Elizabeth Warren argued that the bill was not enough to protect consumers, advocated banning tech companies from issuing stablecoins and other reforms. Critics also worry that if the stablecoins fail, there will be a lack of insurance like the Federal Deposit Insurance Corporation (FDIC) as backing; while bankers warn that stablecoins may suck deposits and reduce credit channels.
According to Crypto in America, the White House is actively promoting the GENIUS Act to enter the Senate for consideration as soon as possible, and strives to sign it into law by President Trump within two months . The bill passed the Senate Banking Committee 18-6 on March 13, intending to establish a regulatory framework for USD-pegged payment stablecoins. The House version of the STABLE Bill will begin review on April 2, and the White House hopes that the Senate version will receive enough support to promote the House of Representatives' direct passage and avoid legislative consultation procedures.
Exchange:
Binance will adjust the minimum order quantity of SOLUSDT perpetual contracts on April 2
Binance will adjust the minimum order quantity of SOLUSDT U-standard Perpetual Contract Trading Pairs at 17:30 on April 2 (UTC+8). SOLUSDT U standard perpetual contract will be suspended from April 2 from 17:30 (East Eight Time) to April 2 from 17:31 (East Eight Time). During this upgrade, users will be unable to place orders, cancel or modify existing delegations on SOLUSDT U-based perpetual contracts.
Token unlock:
Ethena (ENA) will unlock approximately 40.63 million tokens at 3 pm Beijing time on April 2, with a ratio of 0.77% to the current circulation, worth approximately US$15 million.
April 3
Exchange:
Coinbase International Station will support BNB perpetual contract on April 3
According to Coinbase International Exchange announcement, BNB Perpetual Contract (BNB-PERP) will be launched on Coinbase International Exchange and Coinbase Advanced. The BNB-PERP market will open trading at or after 17:30 on April 3, 2025 (Beijing time). In addition, Coinbase International Station also plans to support Layer3 and Freysa perpetual contracts at the same time.
Token unlock:
Wormhole (W) will unlock approximately 1.39 billion tokens at 7:30 pm on April 3, Beijing time, with a ratio of 47.4% to the current circulation, and a value of approximately US$117 million.
Big Time (BIGTIME) will unlock approximately 333 million tokens at 8 a.m. Beijing time on April 3, with a ratio of 18.44% to the current circulation, worth approximately US$16.7 million.
April 4
Macroeconomics:
The unemployment rate in the United States in March, the non-farm employment population after the seasonal adjustment in March, and the average annual rate of hourly wages per month in March (released at 20:30)
23:25 Beijing time, Federal Reserve Chairman Powell delivered a speech
Project News:
UniSat Wallet: Support for Atomicals will be stopped from April 4
UniSat Wallet tweeted that from 14:00 on April 4 (UTC+8), the Atomicals protocol will no longer be supported after the extension wallet is updated to version 1.6.0. Users need to transfer Atomicals assets to compatible wallets before updating, and they cannot view Atomicals assets in UniSat Wallet after April 4. Officials said the decision stems from simplifying products and effectively managing development resources.
April 5
Exchange:
Ouyi OKX will apply BTC delivery contract to the daily settlement mechanism on April 5
Ouyi OKX announced that the delayed BTC delivery contract is applied to the daily settlement mechanism. The daily settlement mechanism of delivery contracts originally scheduled to be applied to the BTC-USDT and BTC-USD delivery contracts in the full warehouse mode will be delayed to 4:00 pm (UTC+8) on April 5, 2025 (UTC+8).
April 6
" 2025 Hong Kong Web3 Carnival" opens at the Hong Kong Convention and Exhibition Centre
The event is co-organized by Wanxiang Blockchain Laboratory and HashKey Group and hosted by W3ME. The event will last until the 9th.
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