Today's news tips:
1. The Argentine Congress will formally investigate the relationship between government officials and Libra
2. Foreign media: Binance executives met with U.S. Treasury officials last month to seek regulatory relaxation
3. Pakistan launches first compliance-based virtual asset regulatory framework
4. Justin Sun responded to the WSJ report: I am not aware of the relevant rumors and have a good relationship with CZ and the US Department of Justice
5. Binance announces the results of the second batch of voting for listings, ONDO, BIGTIME and VIRTUAL will be listed and seed tags will be applied
6.Babylon Bitcoin staking function is now online
7. Ethena Labs launches USDe reserve proof, which will be updated once a week
8. Trump family crypto project WLFI bought 4.89 million SEI at an average price of $0.158
Regulatory/Macro
Argentina's Congress to formally investigate government officials' relationship with Libra
The lower house of the Argentine Congress approved the establishment of a special committee to investigate the role of senior government officials in the issuance and collapse of the La Libertad Avanza project (Libra token). The committee, composed of 24 members, will review testimonies from all parties to confirm whether President Javier Milei, his sister Karina Milei and other government officials were involved in the issuance of the token and its subsequent collapse. The committee will launch an investigation on April 23 and must submit an investigation report within three months to clarify relevant responsibilities.
Mile first announced the Libra token plan in February, claiming that it would be used to support small and medium-sized enterprises in Argentina. However, just hours after the token was issued, the price plummeted, causing losses to tens of thousands of investors. This congressional investigation is one of the investigations launched by multiple domestic and foreign institutions into the Libra token incident. Other institutions involved in the investigation include the Argentine court and the US Department of Justice. All parties are committed to finding out the truth of the incident.
According to Cailianshe, European Commission Trade Commissioner Valdis Dombrovskis said that the EU proposed to the United States to impose zero-to-zero tariffs on goods. If no trade agreement is reached, the EU is prepared to respond; if necessary, it is ready to take countermeasures.
According to Jinshi.com, the annual rate of PPI in the United States in March was 2.7%, which was expected to be 3.3% and the previous value was 3.20%. The monthly rate of PPI in the United States in March was -0.4%, which was expected to be 0.20% and the previous value was revised from 0.00% to 0.1%.
Spot gold surpasses $3,240, setting a new all-time high
According to Jinshi.com, spot gold rose in the short term, breaking through $3,240 per ounce, setting a new historical high and rising more than 2% on the day.
Market News: US SEC and Binance apply for another 60-day suspension of litigation
Journalist Eleanor Terrett tweeted that the U.S. Securities and Exchange Commission (SEC) and Binance have jointly applied to the court to suspend the lawsuit for another 60 days. According to a recent document, the two sides had "productive" talks, some of which were related to the work of the cryptocurrency task force, and said that continuing to suspend the lawsuit was in the best interests of all parties. The court previously required the two parties to submit a joint status report by April 14, 2025, and the case will be updated again after 60 days.
Earlier news, the US court agreed to suspend the legal dispute between Binance and the SEC until April, and both parties must submit reports before April 14.
Several members of the U.S. Securities and Exchange Commission (SEC) expressed support for the establishment of a digital asset regulatory sandbox at the second digital asset roundtable, allowing crypto exchanges such as Coinbase to freely experiment in new areas, including providing tokenized securities trading.
“I encourage market participants who are developing new ways to conduct securities transactions using blockchain technology to provide input on which exemptions may be applicable,” said Mark Uyeda, acting chairman of the SEC, in a pre-recorded video statement. Uyeda specifically noted that a “time-limited, conditional framework for exemption relief” could provide unregistered cryptocurrency exchanges with the freedom to innovate in areas such as tokenized securities before rules and laws are developed to address them.
According to the Wall Street Journal, people familiar with the matter revealed that Binance executives met with U.S. Treasury officials last month to discuss relaxing U.S. government regulation of the company, while the company is also exploring a business deal with a cryptocurrency business of the Trump family. Some people familiar with the matter said that Binance executives have asked Treasury officials in Washington to replace a U.S. monitor responsible for overseeing the exchange's compliance with anti-money laundering laws. The move would mark the company's first step back into the U.S. market. The company admitted in 2023 that it had violated these laws.
Pakistan launches first compliance-based regulatory framework for virtual assets
Pakistan has launched its first comprehensive policy framework to regulate virtual assets and virtual asset service providers (VASPs) in an effort to curb money laundering, support innovation and attract foreign investment. The policy was developed by a dedicated government agency under the Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Agency. The proposed framework, which is subject to legislative approval and input from digital asset companies operating in the country, is expected to be rolled out in phases starting in 2026.
Viewpoint
Glassnode: Bitcoin has strong support at $79,000, and the next step is to test $83,500
Glassnode published an analysis on the X platform, saying that looking at the cost basis distribution, Bitcoin has found strong support at $79,000, with about 40,000 BTC accumulated at this price. At the same time, Bitcoin has also broken through the $82,080 resistance zone (about 51,000 BTC). If this price can be maintained, the next price to be tested is $83,500, where 48,500 BTC are held. Ethereum seems to be in the range of $1,548 to $1,599, with 793,900 and 732,400 ETH held at this price, respectively. Support may be forming at $1,461, where 380,000 ETH have accumulated - this may buffer further declines in the short term.
Arthur Hayes: Bitcoin is expected to enter a mode of only rising and not falling
Arthur Hayes, co-founder of BitMEX, wrote on the X platform: "The situation is developing in full swing. If this trend continues, we will see more policy responses this weekend. Bitcoin is about to enter a mode of only rising and not falling."
In response to the Wall Street Journal report that "CZ agreed to provide prosecutors with evidence of Sun Yuchen's financial crimes when he pleaded guilty," Sun Yuchen tweeted: "I am not aware of the rumors currently circulating on the Internet. CZ is my mentor and friend, and he has given me attention, guidance and direction in the process of my entrepreneurship. To this day, his principles and style of doing things are still the highest standards I pursue as an entrepreneur. At the same time, the U.S. Department of Justice has always been one of our closest and most trusted partners at T3FCU. We have worked together to handle a large number of important cases aimed at protecting global users and punishing illegal criminal groups around the world. Whether it is CZ or our partners at the Department of Justice, we always maintain direct and frank communication. I have full trust in each of them. Under the wise leadership of President Trump's encryption policy, the U.S. encryption industry is bound to usher in greater success. As one of the president's earliest selected cryptocurrencies, TRX will also be a beneficiary of this success."
Project News
Curve founder: once again extend the lock-up period of veCRV held to 4 years
Curve founder Michael Egorov said on X that he has extended the lock-up period of his veCRV to 4 years again, and publicly disclosed the specific transaction records of the extension of the lock-up.
Binance announced that based on the voting results and due diligence, Binance will list Ondo (ONDO), Big Time (BIGTIME) and Virtuals Protocol (VIRTUAL) and open the following spot trading pairs at 22:00 (ET) on April 11, 2025. Please note: Binance Alpha is currently available for trading of the above tokens and will no longer be displayed after spot trading is opened. Users can now transfer their Binance Alpha tokens to spot accounts.
- New spot trading pairs: ONDO/USDT, ONDO/USDC, BIGTIME/USDT, BIGTIME/USDC, VIRTUAL/USDT, VIRTUAL/USDC
- ONDO, BIGTIME, and VIRTUAL recharge channels will be open one hour after the announcement
- Withdrawals are expected to be available at 22:00 on April 12, 2025 (GMT+8)
BlackRock reports $3 billion in digital asset inflows in Q1
BlackRock, the world's largest asset manager, reported total net inflows of $84 billion in the first quarter of 2025, an annualized increase of 3%. According to its earnings report released on April 11, the strong performance was mainly due to the record performance of iShares ETFs and continued strong net inflows from private markets. BlackRock said that of the $107 billion in net inflows into iShares ETFs, $3 billion (2.8%) flowed into digital asset products in the first quarter. As of March 31, 2025, digital assets brought BlackRock $34 million in base fees, less than 1% of its long-term revenue; at the end of the first quarter, it managed a total of $50.3 billion in digital assets, accounting for about 0.5% of total assets under management. Although the proportion is not high, BlackRock's $3 billion in net digital asset inflows is still worth noting given the widespread liquidation of the Bitcoin ETF market earlier this year, and data shows that investors have a stable interest in cryptocurrency-backed ETFs.
CoinList announces resumption of fiat-to-crypto on-ramp
Digital asset platform CoinList announced the restoration of the fiat-to-cryptocurrency deposit channel, and users can now top up their USDC accounts with US dollars (USD) or euros (EUR) directly through credit cards, debit cards, Apple Pay, and Google Pay (ACH, SEPA, and bank wire deposits are coming soon). CoinList also mentioned that users can top up their USDC accounts with fiat currency, start trading, earn income on the chain, and "participate in token sales from the United States and overseas."
The update clarifies that the geographic availability of the fiat-to-crypto onboarding channel is as follows: initially open to CoinList users in eligible regions, including "U.S. states where CoinList holds money transmission licenses (MTLs), and most global countries where CoinList operates."
WalletConnect to Launch WCT Token on April 15
On-chain connectivity solution WalletConnect will launch its native WCT token on April 15. The launch is managed by the WalletConnect Foundation, which aims to promote the decentralization of the WalletConnect network with WCT at its core. Token holders can propose, discuss and make decisions on the introduction of fees in the long-term economic model of the network through the governance mechanism. WCT tokens are not only used to incentivize network use, but also give holders staking and governance rights.
According to the WCT white paper, the token will not be immediately transferable, and the trading time will be decided by the WalletConnect Foundation and token holders voting. The white paper points out that "network functionality, long-term planning, ecosystem development, and infrastructure protection" are the reasons why the token is not immediately transferable. The distribution of WCT supply is: 27% belongs to the WCT Foundation, 18.5% is used for airdrop activities, 18.5% is allocated to the team, 17.5% is used for rewards, 11.5% is allocated to investors, and 7% is allocated to core developers. The tokens of developers, teams, and investors have a four-year unlocking period and a one-year lock-up period. The airdrop activities will be carried out in stages in the next few years.
Binance Futures to Launch XCNUSDT USDT Perpetual Contract
According to the official announcement, Binance Futures will launch the XCNUSDT perpetual contract at 23:30 (ET8) on April 11, 2025, with a maximum leverage of 25 times.
According to the official announcement, Binance Finance, One-Click Coin Purchase, Flash Exchange Trading Platform and Leverage will launch Ondo (ONDO), Big Time (BIGTIME) and Virtuals Protocol (VIRTUAL) according to the timeline listed below.
- Binance Finance: ONDO, BIGTIME and VIRTUAL principal-guaranteed coin-earning products will be launched on the Binance principal-guaranteed coin-earning platform and open for subscription at 22:00 (ET) on April 11, 2025.
- Buy & Sell Coins with One Click: ONDO, BIGTIME, and VIRTUAL can be bought and traded with one click within one hour of listing on Binance spot.
- Flash exchange trading platform: ONDO, BIGTIME and VIRTUAL within one hour after Binance spot listing.
- Binance Margin: Binance Margin and Isolated Margin will add ONDO, BIGTIME and VIRTUAL as borrowable assets at 22:20 (ET) on April 11, 2025, as well as ONDO/USDT, ONDO/USDC, BIGTIME/USDT, BIGTIME/USDC, VIRTUAL/USDT, VIRTUAL/USDC full-margin and isolated-margin trading pairs.
pump.fun: Live streaming feature now available to all users
pump.fun announced on the X platform that the "Pump Fun" live broadcast feature has been launched to 100% of users, equipped with an industry-standard review system and transparent guidelines. This includes prohibiting and deleting live broadcasts containing hate speech, violence, nudity or other inappropriate content. pump.fun announced last week that the live broadcast function was restored, but it was only open to 5% of users.
Babylon Bitcoin staking feature is now live
Babylon tweeted that the Bitcoin staking feature is now live. For the first time, Bitcoin can be staked to provide proof-of-stake (PoS) security for Babylon Genesis and receive staking rewards in return. To ensure security, only 1,000 Bitcoins from the first phase Cap-1 are currently allowed to register. After a 24-hour buffer and testing period, Bitcoin staking was officially activated at 18:04:03 (UTC+8) on April 11 at the Babylon Genesis block height of 27,600.
Earlier news , the Bitcoin-collateralized Layer 1 blockchain Babylon Genesis has been officially launched. It is reported that this is the second phase of Babylon's launch of the Bitcoin pledge protocol.
DWF Labs becomes the top 2 institution holding USD1 on the chain, currently holding 6 million USD1
According to on-chain data analyst @ai_9684xtpa, DWF Labs has become the top 2 institution on the chain holding USD1, the US dollar stablecoin launched by WLFI, and currently holds 6 million USD1.
After DWF Labs received 1 million stablecoins on April 3, it received another 5 million USD1 on the BSC network 9 hours ago, and then cross-chained to the Ethereum mainnet. In addition, Wintermute should be the top institution holding USD1 on the chain. Currently, the four addresses hold a total of 57 million USD1, which is 9.5 times the size of DWF Labs' holdings.
Ethena Labs launches USDe reserve proof, which will be updated weekly
Ethena Labs launches USDe Reserve Proof. The proof was created and launched in partnership with Harris & Trotter, Chaos Labs, LlamaRisk, and Chainlink. The reserve proof will be updated weekly to verify key information such as the value of USDe's asset reserves, whether the reserve assets are greater than or equal to the USDe supply, whether the reserve assets are composed only of governance-approved digital assets, and whether the reserve assets remain dollar-neutral. The solution provides further independent verification from external third parties to ensure that USDe's supporting assets are not hosted on exchanges. Reserve fund assets are not included in the USD value of USDe's backing assets.
Important data
Trump family crypto project WLFI bought 4.89 million SEI at an average price of $0.158
According to Onchain Lens monitoring, the Trump family's crypto project World Liberty Financial (WLFI) bought 4.89 million SEIs with 775,000 USDC, with an average price of $0.158. It currently holds a total of 5,983,278 SEIs.
A whale sold 4,482 ETH in the past 14 hours, worth $7.05 million
According to @ai_9684xtpa, the address 0x62A...795B2 has sold a total of 4,482 ETH in the past 14 hours, worth $7.05 million, with an average price of $1,572. 9 hours ago, he deposited 1,000 ETH into Kraken, and sold the remaining 3,482 ETH on the chain through guccilorian.eth; this address has frequently interacted with block builders Beaver Builder and Titan build.
