Today's news tips:
Bitcoin volatility indicator nears one-year high in March
Coinbase Adds Reserve Rights (RSR) to Asset Listing Roadmap
Ripple unlocks 500 million XRP from escrow, worth about $1.02 billion
Binance Watch tab adds ARDR, BSW, FLM, etc., and removes JUP, STRK, and TON seed tabs
Stake Stone announces STO token economics: airdrops and future incentives account for 7.85%
Standard Chartered Bank predicts that Avalanche's native token AVAX may soar to $250 in 2029
Russia may allow seized BTC to be converted into state revenue
Regulatory/Macro
Kazakhstan, UAE seek to strengthen cooperation on digital assets and blockchain technology
According to Bitcoin.com, a delegation from the financial sector of Kazakhstan recently visited the United Arab Emirates (UAE) to strengthen cooperation between the two sides in digital assets and blockchain technology. The visit took place from March 26 to 27, and the delegation included representatives of the National Bank of Kazakhstan and the Agency for Regulation and Development of Financial Markets (ARDFM), who exchanged views with major financial institutions and regulators in the UAE. According to a statement from the National Bank of Kazakhstan, the focus of the discussions between the two sides was the expanding field of digital assets, including regulatory frameworks and practical applications of blockchain technology. The National Bank of Kazakhstan signed a memorandum of understanding (MoU) with the Central Bank of the UAE to exchange best practices in fintech, cybersecurity and CBDC development. The delegation also met with the UAE Securities and Commodities Authority to explore the integration of Kazakh exchanges such as the Kazakh Stock Exchange and the Astana International Financial Center with the UAE's Tabadul Digital Exchange. This cooperation aims to improve stock market infrastructure and promote cross-border transactions through blockchain technology. The Kazakh delegation also held discussions with Mubadala Investment Company and First Abu Dhabi Bank to expand investment cooperation with Kazakhstan.
Russia may allow seized BTC to be converted into state revenue
According to Cryptonews, the head of the Russian Federal Executive Service (FSSP) said that a new mechanism has been developed to support the conversion of Bitcoin seized in criminal cases into state fiscal revenue. The mechanism stems from the precedent of the bribery case of former investigator Marat Tambiev, in which about 1,032 BTC were successfully seized and transferred to the Ministry of Finance. It is expected that some assets will be sold to replenish the treasury. The FSSP called on the legislature to clarify the legal status of crypto assets as soon as possible to promote a more systematic process for the disposal of crypto assets.
U.S. House Financial Services Committee votes to pass stablecoin regulation bill
According to The Block, the U.S. House of Representatives Financial Services Committee voted on Wednesday to pass a major bill to regulate stablecoins. The bill, called "Stablecoin Transparency and Accountability for a Better Ledger Economy" (STABLE), was passed by the committee on Wednesday with 32 votes in favor and 17 votes against. The bill will create a framework for stablecoins denominated in U.S. dollars. The bill stipulates reserve and capital requirements, including one-to-one reserve support and anti-money laundering standards. This is another attempt by the House Committee to advance the stablecoin regulation bill. In 2023, the committee passed the legislation, but negotiations were deadlocked as Republicans criticized the White House under the Biden administration for being responsible, and the possibility of the bill becoming law was questioned. Several amendments were discussed on Wednesday, focusing on Trump's relationship with cryptocurrencies, bailout plans, and foreign issuers. However, the Senate and the House of Representatives must reach a consensus on their respective bills. The two sides have differences in how to regulate issuers at the state and federal levels. In addition, the two sides also disagree on how to regulate foreign issuers such as Tether. As for the next move, a Republican aide familiar with the text of the bill said at a press conference last week that lawmakers may now decide to advance legislation to regulate the entire cryptocurrency industry. The House Financial Services Committee plans to hold a hearing on a market structure bill next week.
Analyst Geiger Capital said on the X platform that data from prediction market Kalshi showed that the probability of the US economy falling into recession this year has just exceeded 50%.
DTCC Launches Tokenized Collateral Management Platform “AppChain”
According to The Block, the Depository Trust & Clearing Corporation (DTCC) announced on Wednesday the launch of a real-time tokenized collateral management platform. This innovative platform, called "AppChain", will be demonstrated at the DTCC "Major Collateral Experiment" event on April 23. The platform aims to improve the efficiency and liquidity of global collateral circulation, optimize capital utilization, and "build an open digital liquidity ecosystem for market participants to deploy digital applications." The technical architecture shows that AppChain is developed based on the Besu platform of LF Decentralized Trust under the Linux Foundation. DTCC pointed out that the increasingly complex market environment and cost pressures have made the demand for efficient and high-quality collateral solutions more urgent. Through the tokenization of collateral, the platform is committed to breaking down the barriers of the traditional "isolated" system and significantly improving the speed of cross-system collateral circulation.
According to Cailian Press, on Wednesday (April 2) Eastern Time, US President Trump signed two executive orders on the so-called "reciprocal tariffs" at the White House, announcing that the United States would set a 10% "minimum base tariff" for all trading partners and impose higher tariffs on multiple trading partners. Trump said that the United States will impose reciprocal tariffs on dozens of trading partners, but the tariffs will not be completely reciprocal. The United States will charge these countries and regions about half of the combined tax rate. Trump showed a poster with a list of reciprocal tariffs. The chart shows that the United States imposes a 34% reciprocal tariff on China, a 20% reciprocal tariff on the European Union, 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 base tariff rate (10%) will take effect at dawn on April 5, and the reciprocal tariff will take effect at dawn on April 9. The tariff exemption for goods under the USMCA will continue, and the tariff for goods that do not comply with the USMCA will remain at 25%. Previously, several trading partners have said they will take countermeasures in response. European Commission President Ursula von der Leyen said that in the face of the new tariffs that the Trump administration is about to introduce, the EU "holds a lot of cards" and has formulated a strong counter-plan that will be implemented when necessary. Canadian Prime Minister Carney said that if Trump fulfills his promise of "reciprocal tariffs", Canada plans to impose counter-tariffs on US goods this week. Carney warned that Canada's relationship with the United States has changed fundamentally, and Canada has "a number of measures to deal with it."
Viewpoint
Justin Sun said in a live broadcast titled "First Digital Trust (FDT) Misappropriation of Public Trust Funds and Aria Investment Scam": "The important reason we chose to deposit in First Digital Trust (FDT) is because FDT is a licensed trust company in Hong Kong. Since the beginning of 2023, FDT has failed to pay investment interest, which has aroused Techteryx's vigilance and began to entrust a professional investigation team to conduct a one-year thorough investigation. With the endorsement of Truecoin Financial Director Alexander Lauren, FDT was appointed as the custodian of TUSD's fiat currency reserves. US$500 million was transferred to a private company account in Dubai without authorization."
Hong Kong legislator Wu Jiezhuang issued a statement on the media reports of the "suspected US$500 million fraud case". Wu Jiezhuang said: "A Web3 company is suspected of being involved in a transnational fraud of US$500 million by a local trust company in Hong Kong. The incident has attracted international and social attention. Many media and financial technology practitioners have asked me for my views and situation. I have the following responses: 1. The incident has attracted widespread attention. I have great confidence in Hong Kong's rule of law system and law enforcement agencies. If the incident is true, the law enforcement agencies will definitely take action to protect the rights and interests of citizens and international investors. 2. Hong Kong has a legal basis and a healthy environment for protecting international investors and the Web3 industry. I call on international investors and technology practitioners not to worry about a single incident and to continue to invest and develop in Hong Kong. 3. My office and the Anti-Fraud Alliance have indeed received more than one case suspected of using the characteristics of trust companies to commit fraud this year. I believe that in the future, society needs to explore how to improve the system of relevant trust companies so that criminals cannot use relevant loopholes to commit fraud. 4. I also believe that relevant departments can strengthen the understanding and education of citizens and practitioners about trust companies to prevent being deceived from the source."
Changpeng Zhao: I am not interested in fancy models. Ideas are worthless. Execution is the key.
In response to a user's letter to Zhao Changpeng about a proposal for an asset tokenization model, Zhao Changpeng responded: "I'm not interested in fancy models. And I never buy ideas. Ideas are worthless. Execution is the key. Here's a passage I wrote before: My investment philosophy contains three key principles: 1. Focus on fundamentals: Focus on the essence, that is, products, user growth, revenue/profit, and the strength of the team. 2. Bet on the long term, enter the market early and hold: Early adopters often get disproportionate returns, and the best way is to hold investments for a long time, because major successes like Amazon or Google develop over time. 3. Invest in founders with a sense of mission: Invest in founders and teams with visions beyond profits. Great companies come from mission-driven thinking, because founders who only focus on money often waver after achieving moderate success."
According to Jinshi, U.S. Treasury Secretary Bessant said on Wednesday night local time that the stock market sell-off was more due to the sharp correction of large technology stocks than the protectionist policies of the Trump administration. Bessant said in a TV interview: "I am trying to be a Treasury Secretary, not a market commentator. I would like to point out that the Nasdaq index in particular peaked on DeepSeek Day, so this is a Mag7 (U.S. Stock Giants) problem, not a MAGA problem."
Arthur Hayes, co-founder of BitMEX, wrote on the X platform: "The market reacted negatively to 'Liberation Day' - if Bitcoin can hold the key level of $76,500 before the US tax day on April 15, the risk is expected to be lifted. Beware of violent fluctuations!"
Standard Chartered Bank predicts that Avalanche's native token AVAX may soar to $250 in 2029
According to The Block, Standard Chartered Bank has begun to conduct coverage research on the Layer 1 blockchain Avalanche and said that it expects the network's native token AVAX to rise more than 10 times from the current level of about $20 to $250 by the end of 2029. Geoffrey Kendrick, the bank's global head of digital asset research, said in the latest report: "One positive aspect of the tariff storm is that it gives us an opportunity to readjust and pick the winners of the next round of digital asset price increases. I think Avalanche will be another winner, perhaps a winner in the Ethereum Virtual Machine (EVM) chain." Kendrick specifically pointed out the advantages of Avalanche's expansion plan, especially the Etna upgrade (codenamed Avalanche9000) completed in December 2024. The upgrade enables developers to create subnets or Layer 1 blockchains on Avalanche at almost zero cost-originally required to pledge AVAX tokens worth $450,000, but now the technical threshold and capital requirements have been greatly reduced. Data shows that after the upgrade, Etna-compatible subnets have accounted for 25% of the total active subnets, and the number of developers has surged by 40%. Based on Etna's growth momentum after the upgrade, Standard Chartered Bank gave a phased target price: $55 by the end of 2025, $100 in 2026, $150 in 2027 (breaking the historical peak), $200 in 2028, and $250 in 2029. Kendrick emphasized: "AVAX's relative growth in the next few years may surpass Bitcoin and Ethereum, but it should be noted that its three-month historical volatility is close to 100%, which is twice that of Bitcoin."
Project News
Ripple unlocks 500 million XRP from escrow, worth about $1.02 billion
According to Whale Alert, Ripple unlocked 500 million XRP from its escrow account at 15:04, worth approximately US$1.02 billion.
Binance Watch tab adds ARDR, BSW, FLM, etc., and removes JUP, STRK, and TON seed tabs
Binance announced that it will adjust the label classification of some tokens on April 3. The following tokens will be added to the Watch label: Ardor (ARDR), Biswap (BSW), Flamingo (FLM), LTO Network (LTO), NKN (NKN), PlayDapp (PDA), Perpetual Protocol (PERP), Viberate (VIB), Voxies (VOXEL), and Wing Finance (WING). At the same time, the following tokens will be removed from the Seed label: Jupiter (JUP), Starknet (STRK), and Toncoin (TON).
Stake Stone announces STO token economics: airdrops and future incentives account for 7.85%
StakeStone announced the economics of STO tokens, with a total of 1 billion tokens, and the distribution ratios are as follows: 17.87% for the community, 4% for the ecosystem, 15% for the team, 18.65% for the foundation, 7.85% for airdrops and future incentives, 9.13% for marketing, 6% for liquidity, and 21.5% for investors.
StakeStone has opened airdrop inspection
According to official news, StakeStone has opened airdrop inspection. According to previous news, Binance Wallet will launch StakeStone TGE. The investment time is 16:00-16:30 on April 3rd, Beijing time.
Binance Wallet will list StakeStone TGE
According to the official announcement, Binance Wallet will launch StakeStone TGE. The investment time is 16:00-16:30 on April 3rd, Beijing time.
Mask Network founder Suji Yan said on the X platform: "The team has noticed the recent sudden drop in MASK's price and is working hard to obtain more information/details. The solution will be announced within 1-2 days." The market shows that the MASK token is currently trading at US$1.25, down 9.2% in 24 hours and 43.8% in the past 7 days.
John, the chief contributor of the blockchain game ecosystem Treasure DAO, announced that due to the deterioration of financial conditions and the reorganization, the game operation and Treasure Chain will be terminated. The document shows that its annual operating expenses are as high as 8.3 million US dollars, and the current treasury has only 2.4 million US dollars, which was originally expected to last only until July 2025. Faced with the pressure of survival, DAO has laid off 15 people and decided to terminate the game distribution support and Treasure Chain, and assist partners to migrate to other chains. In order to extend the capital runway, John proposed to withdraw the idle 785,000 US dollars from the market maker Flowdesk. If approved, the stablecoin balance will increase to 3.2 million US dollars, and the operation can be optimistically extended to February 2026. In addition, the ecological fund holds 22.3 million MAGIC (worth 2.3 million US dollars), but if the price of MAGIC plummets, DAO may be unsustainable between December this year and February next year.
Ethereum surpasses Solana in DEX volume for the first time in six months
According to Solid Intel data, Ethereum surpassed Solana in DEX spot trading volume in March, returning to the top position for the first time since September 2024.
Coinbase Adds Reserve Rights (RSR) to Asset Listing Roadmap
According to official news, Coinbase announced that Reserve Rights (RSR) will be added to the asset listing roadmap. Coinbase emphasized that the listing and trading of these assets depends on the support of market makers and sufficient technical infrastructure. Once these conditions are met, the listing and trading will be announced separately.
CoinList announces return to US market and hosts token sale for DoubleZero
According to The Block, token issuance platform CoinList announced that it will return to the U.S. market for the first time since 2019 and hold a token sale for the DoubleZero Foundation, the team behind the DoubleZero protocol. The token, called 2Z, will be open to qualified U.S. investors - marking the first time in five years that CoinList has allowed U.S. investors to participate in its token sales. CoinList President Scott Keto revealed that the last token sale for U.S. investors was the Kadena project in 2019.
According to CoinDesk, the UK subsidiary of Galaxy Digital, a digital asset financial services company, announced that its application for a derivatives trading license from the UK Financial Conduct Authority (FCA) has been officially approved. Galaxy Digital's investment banking business will use the FCA authorization it has obtained to conduct capital raising and investment banking services in the UK. The UK subsidiary will also provide fund distribution support for its asset management business. Galaxy Digital UK is currently included in both of the FCA's regulatory lists: as an authorized institution that can provide EU Financial Instruments Markets Directive (MiFID) investment services, Galaxy also joined the FCA's cryptocurrency list in 2021.
Important data
Deribit officially issued a reminder that about $2.5 billion in crypto options will expire tomorrow (16:00 Beijing time on April 4). Among them, the notional value of Bitcoin (BTC) options is about $2.16 billion, the Put/Call ratio is 1.27, and the maximum pain point price is $85,000; the notional value of Ethereum (ETH) options is about $371 million, the Put/Call ratio is 1.31, and the maximum pain point price is $1,850. Although this week's market volatility is relatively calm compared to last week's quarterly expiration, position adjustment is still crucial.
According to Binance market data, multiple tokens fell by more than 20% in a short period of time, including: VIB fell by 45.2% in a short period of time and is now quoted at US$0.021; LTO fell by 37.5% in a short period of time and is now quoted at US$0.0318; WING fell by 45.53% in a short period of time and is now quoted at US$1.62; BSW fell by 30.36% in a short period of time and is now quoted at US$0.0212; VOXEL fell by 22.88% in a short period of time and is now quoted at US$0.05; NKN fell by 21.78% in a short period of time and is now quoted at US$0.0317; PDA fell by 27.26% in a short period of time and is now quoted at US$0.117; According to previous news, the Binance observation label added ARDR, BSW, FLM, etc., and removed the seed labels of JUP, STRK and TON.
Bitcoin volatility indicator nears one-year high in March
According to Forbes, in March, a measure of Bitcoin price volatility reached its highest level in nearly a year, and the value of Bitcoin experienced significant fluctuations that month. Data compiled by asset management company Blockforce Capital showed that on March 24, Bitcoin's 30-day annualized volatility climbed to 71.28%, at which time the indicator reached its highest value since April 14, 2024. The volatility of Bitcoin prices in March is in stark contrast to the previous month. On February 23, Bitcoin's 30-day annualized volatility fell to 30.98%.
BIGTIME is currently trading at $0.07183, up 56% in 24 hours
Coingecko data shows that the BIGTIME token of the blockchain game project Big Time is currently trading at $0.07183, with a 24-hour increase of 56%.
According to The Data Nerd, Symbolic Capital Partners transferred 603 ETH (about $1.1 million) to Coinbase in the past two hours. The institution transferred a total of 10,334 ETH (about $19.36 million) to Binance and Coinbase in the past 24 hours. In the past month, its total Ethereum deposits to CEX reached 28,056 (about $52.44 million).
According to SoSoValue data, yesterday (April 2, Eastern Time), the total net inflow of Bitcoin spot ETFs was $221 million. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was Ark Invest and 21Shares' ETF ARKB, with a net inflow of $130 million in a single day. Currently, ARKB's total net inflow has reached $2.652 billion. The second is Fidelity Bitcoin ETF FBTC, with a net inflow of $119 million in a single day, and FBTC's total net inflow has reached $11.503 billion. The Bitcoin spot ETF with the largest net outflow in a single day yesterday was BlackRock Bitcoin ETF IBIT, with a net outflow of $116 million in a single day, and IBIT's total net inflow has reached $39.845 billion. As of press time, the total net asset value of Bitcoin spot ETFs was $97.354 billion, and the ETF net asset ratio (market value to Bitcoin's total market value) reached 5.73%, and the historical cumulative net inflow has reached $36.237 billion.
First Digital Labs destroyed 87 million FDUSD in the past 24 hours
According to Paidun's monitoring, First Digital Labs destroyed a total of 87 million FDUSD in the past 24 hours. This includes about 49 million FDUSD transferred from addresses associated with Wintermute to First Digital Labs, which were subsequently destroyed. In addition, First Digital Labs sent about 53 million FDUSD to the address 0xe79a...1d93, which then sent about 40 million USDT to it and sent the remaining 13 million FDUSD to Binance.
Financing
On-chain AI proxy fund bAI Fund receives $1 million investment
According to official news from Morph, the on-chain AI proxy fund bAI Fund received a joint investment of $1 million from Morph and Foresight Ventures. According to reports, bAI Fund is an on-chain proxy fund operating in a trusted execution environment (TEE), which integrates quantitative trading, investment, and marketing to create a diversified AI proxy ecosystem. The fund helps creators independently issue AI proxy tokens and promote decentralized governance.
Collecto, a fragmented luxury investment platform, has completed a seed round of financing of 2.8 million euros (about 3.05 million US dollars), with participation from LinkedIn Italy CEO Marcello Albergoni, Accenture Interactive Managing Director Alessandro Zanotti, McKinsey senior partners Andrea Travasoni and Guido Frisiani, Wind Tre Italy Co-CEO Gianluca Corti, BCG senior consultant and former ING Italy CEO Marco Bragadin, Jakala Civitas CEO Giacomo Lorusso, BizPal CEO Fabio Peloso and several seed round investors. This round of financing includes 2.3 million euros in equity financing and 500,000 euros from the Italian Ministry of Economic Development's "Smart&Start Italia" entrepreneurial support program.
