The data released by the United States on Friday showed that the core PCE price index in March was 2.8% year-on-year, higher than the expected value of 2.70% and the same as the previous value of 2.80%; the overall PCE price index in March was 2.7% year-on-year, higher than the expected value of 2.60% and higher than the previous value of 2.50%; the core PCE price index in March was 0.3% month-on-month, in line with the expected value of 0.30% and the same as the previous value of 0.30%. In January and February, U.S. inflation stagnated, and did not re-accelerate in March, which relieved the market.
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The U.S. Securities and Exchange Commission has delayed its decision to approve the listing and trading of spot BTC ETF options until May 29. The U.S. Securities and Exchange Commission (SEC) issued a Wells Notice to Consensys, accusing MetaMask of operating as an unlicensed broker. Consensys sued the U.S. Securities and Exchange Commission (SEC), saying it attempted to classify ETH as a security, seeking court confirmation that the SEC has no legal authority to regulate software built on ETH or the ETH blockchain. The U.S. Securities and Exchange Commission seeks public opinion on whether to require spot BTC ETF options to follow the same rules as stock options. Fintech giant Stripe announced its return to the cryptocurrency market to accept cryptocurrency payments. In 2018, the company abandoned support for cryptocurrency payments due to high BTC price volatility. More than 9% of the BTC supply (1.8 million BTC, or $121 billion) has been inactive for more than a decade, and about 1.5 million BTC may be lost forever. Miners sold only 1,300 BTC in the past month, the lowest number since they began selling in November. On April 24, the suspected Justin Sun address transferred 21,547 ETH from Bn again, and the current ETH holdings of this address have increased to 176,116 ETH. Venture capital firm Pantera Capital plans to raise $1 billion for its cryptocurrency fund Pantera Fund V, focusing on assets such as startup equity, early tokens and liquid tokens. James Butterfill, head of research at CoinShares, said that the fund manager survey report showed that in the first survey since the approval of the US spot BTC ETF, 41% of investors believed that growth prospects were the most attractive; the weight of digital assets in the portfolio rose from 1.3% to 3%, the highest weight since the survey began in 2021. Benchmark reported that if MicroStrategy chooses to adopt the new accounting standards, its earnings could increase by more than $3 billion, meeting the conditions for inclusion in the S&P 500 index, which would increase MicroStrategy's valuation because index funds would be forced to buy the stock.

The data released by the United States on Thursday showed that the initial quarterly GDP rate in the first quarter was 1.6%, lower than the expected value of 2.4% and lower than the previous value of 3.4%; personal consumption expenditure in the first quarter was 2.5%, lower than the expected value of 3%, lower than the previous value of 3.3%; the core PCE price index in the first quarter was 3.7%, higher than the expected value of 3.4% and higher than the previous value of 2.0%. The US economy slowed down more than expected in the first quarter, but inflation accelerated. At the opening of the US stock market, the S&P 500 index fell 1.41%, currently narrowing to 0.4%, and the Nasdaq fell more than 2%, currently narrowing to 0.6%.
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The European Parliament voted to pass a series of laws, some of which are aimed at strengthening "due diligence measures and checks on customer identity", including so-called crypto asset managers, who must report suspicious activities. The new laws will affect crypto asset service providers (CASPs). Patrick Hansen, Circle's EU strategy and policy director, said the bill will be formally adopted by the EU Council and will begin to be implemented in three years. Europol data shows that real estate, luxury goods and cash-intensive businesses are the main money laundering tools for major criminal networks in the EU, and cryptocurrencies account for only a small proportion. Reports from Nasdaq and the US Treasury Department show that there is a huge gap in the amount of illegal funds in traditional industries and digital assets, and the latter accounts for only a small part of the total. Rep. Maxine Waters of the US Financial Services Committee said that she is striving to reach a stablecoin bill in the short term. She has discussed stablecoins with Senator Chuck Schumer and Senate Banking Director Sherrod Brown, and said that the Federal Reserve, the Treasury Department and the White House have all provided opinions on drafting the bill. CryptoQuant CEO ki Young J said that the average dormant time of BTC has recently hit a 13-year high, and the BTC equity structure is changing, which may change the ownership pattern. The suspected Justin Sun address withdrew 7127.9 ETH from Bn. The address has accumulated 154,570 ETH since April 1, with an average price of $3,140. S&P Global Ratings said that if the latest stablecoin bill proposed by the US Senate is passed, it may encourage banks to enter the stablecoin market. When banks enter the market, Tether may decline. S&P Global said that if the new legislation is passed, it will limit the maximum issuance of entities without banking licenses to $10 billion, thereby giving banks a competitive advantage.

The US will release the first quarter GDP on Thursday and the core PCE price index for March on Friday. The strong economy and inflation over the past month have reinforced the hawkish views of the Fed members and postponed the expectation of interest rate cuts. As a result, the US stock and currency markets have experienced a continuous decline. I hope that this will be in line with expectations, with a turning point and easing market sentiment.
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The U.S. Securities and Exchange Commission (SEC) is seeking public comments on a revised version of BlackRock's proposed spot ETH ETF. BlackRock proposed the ETF in November 2023. The SEC had postponed its decision on the proposal in January and accepted Nasdaq's changes on April 19. The revised document discusses the creation and redemption process of the ETF. The SEC requires comments within 21 days, which will be posted on its website. The Hong Kong Stock Exchange issued a notice "Introduction of Virtual Asset Spot Exchange Traded Funds" stating that, similar to other exchange-traded products and stocks, virtual asset spot exchange-traded funds can be margin financed, depending on the risk management policies of individual exchange participants. However, given the high volatility of virtual asset spot exchange-traded funds, exchange participants should be particularly cautious when providing margin financing for the purchase and sale of such products to customers, and exchange participants should comply with the SEC's guidance on securities margin financing activities. K33 Research reported that the bankrupt MtGox is preparing to distribute approximately 142,000 BTC and 143,000 BCH to creditors, which may become a relevant negative price factor in the coming weeks. Talos, backed by Citibank, has fully acquired the cryptocurrency risk management platform Cloucwall to help its institutional clients manage risks and optimize their portfolios. Bloomberg senior ETF analyst said that two US Deposit Insurance Fund Advisory firms (DIF Advisors) each invested $20 million in Fidelity's spot BTC ETF FBTC. The suspected Justin Sun address transferred 15,389 ETH from Bn again on April 22. Justin Sun currently holds a total of approximately $4.165 billion in assets in multiple addresses.

Gold has risen by about 18% since the beginning of the year. Citi expects gold to experience a slight correction before the end of the second quarter and to soar in the second half of 2024. It expects gold to rise by 5-10% in 0-3 months and 15-20% in 6-12 months.
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The Hong Kong Securities and Futures Professionals Association published a letter to the Hong Kong Treasury Bureau on its official website, "Proposing the Establishment of an Independent Self-Regulatory Organization for the Development of the Securities, Futures, Asset Management and Virtual Asset Industries", which pointed out that in the case of Hong Kong, the Association recommends that the Securities and Exchange Commission still retain the power to regulate market behavior (for example: prohibiting insider trading, fraud, and market manipulation transactions, etc.), but the licensing power will be split into a self-regulatory organization composed solely of the securities, futures, asset management and virtual asset industries (and generally refers to licensed intermediaries for regulated activities currently defined by the Hong Kong Securities and Exchange Commission). Bloomberg: Some creditors of MtGox said they have received the latest information on their claims, indicating that the platform is stepping up efforts to return $9 billion worth of BTC. Creditors said that the updates include information such as the number of digital tokens to be returned and the repayment date in some cases. CoinShares weekly report shows that digital asset investment products had a total outflow of $206 million for the second consecutive week last week. Blockchain stocks have outflowed for 11 consecutive weeks, totaling $9 million. According to IntoTheBlock data, BTC is at the top of the key demand area, with 1.66 million addresses buying BTC at an average price of $64,800. If the market faces further downward pressure, this price point may become a strong support level. According to Lookonchain data, 0x4359 (suspected to be JustinSun's address) has again withdrawn 4,666 ETH from Bn. Since April 8, it has increased its holdings by 132,054 ETH at an average price of $3,173.

At the close of last Friday, the S&P 500 and Nasdaq fell for six consecutive trading days, setting a record for the longest losing streak since October 2022. This week, U.S. stocks released earnings reports one after another, including four of the "Big Seven" of mega-cap technology, which have dominated the bull market's gains over the past year. Institutional surveys show that nearly two-thirds said they expect earnings reports to boost stock indexes.
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The Internal Revenue Service (IRS) has released a draft tax form for reporting digital asset transactions, applicable to tax returns for 2025. The form, called 1099-DA, is used to report digital asset gains from brokerage transactions. Brokers, including non-custodial wallet providers, are required to report gains from the disposal of digital assets to the IRS. Cryptocurrency tax experts emphasize that the IRS's collection of certain data points, such as wallet addresses, "may raise significant privacy and security issues." Reddit users reported that the MtGox claimant claim form has been updated, adding fields such as the expected number of tokens to be retrieved, and showing BCH and BTC codes. Community users said that the updated form shows that MtGox is at least moving towards BTC payments in some way, rather than just working on fiat currency payments, but most users believe that there is no connection between the updated form and the payment of compensation. Financial lawyer Scott Johnsson said that the spot ETH ETF is expected to be rejected by the SEC next month, and there is no sign of the spot ETH ETF being approved before the end of the year. Lookonchain data shows that the address suspected to be Justin Sun has increased its holdings of 295,757 ETH from Bn and DEX at an average price of $3,014 since February 12. Grayscale reported that the fee rate of the mini version of GBTC is 0.15%, which is lower than the fee rate of the parent fund GBTC after listing. Julio Moreno, director of Crypto Quant research, said that miners' income reached $107 million on April 21, a record high, of which 75% came from GAS fees. YCharts data showed that the average GAS fee of BTC fell to $34.8 on April 21 after hitting a record high of $128.45 on the day of halving, and the total GAS fell to $22.37 million on Sunday from $81 million the previous day.

The Fed's Beige Book maintained the growth characteristics of the "slight" expansion of the US economy since February, continuing the generally pessimistic description of economic activity, and people are cautiously optimistic about the economy. ECB Governing Council member Centeno: If interest rates must be cut before the Fed, then so be it.
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U.S. Senators Kirsten Gillibrand and Cynthia Lummis proposed a Stablecoin Act that requires stablecoin issuers to hold a one-to-one cash or cash equivalent reserve to back their tokens, prohibits unbacked algorithmic stablecoins, and neither issuers nor users can use stablecoins for illegal or unauthorized purposes such as money laundering, promotes responsible innovation, protects consumers and combats money laundering and illegal finance. Members of the British Parliament called on the British government to invest in skills development to meet employment needs in the cryptocurrency, blockchain and artificial intelligence (AI) industries. Lisa Cameron, a member of Congress who chaired the debate on the topic on Tuesday, urged the British government to ensure that digital skills are taught from the early stages of education and even in the workplace to make the most of these opportunities and ensure that the UK has the necessary talent. Jamie Coutts CMT, a former Bloomberg analyst, said that by 2030, Blockchain's daily active users are conservatively predicted to be 70 million. HODL15 Capital data shows that Upbit's cold wallet "Mr.100" is working hard to hoard BTC, and has purchased almost all newly mined BTC in the past three days. From April 15 to 17, it purchased 800, 600, and 400 BTC respectively. When introducing the expenditure budget and work priorities for 2024-25, Paul Hui, Director of the Hong Kong Treasury Bureau, said that in terms of virtual assets, a series of work is being carried out to strengthen supervision to promote the sound and responsible development of Hong Kong's virtual asset market. The HKMA launched a stablecoin "sandbox" in March this year to allow institutions interested in issuing stablecoins to conduct tests within a controllable range, and will submit a draft bill to the Legislative Council as soon as possible.

Powell hinted that the rate cut will be postponed, saying that strong inflation last quarter has brought new uncertainty about whether and when interest rates can be cut later this year. U.S. stock indexes fell across the board, and the 2-year Treasury yield rose to 5% for the first time since November last year. The probability of the Fed raising interest rates is low, but not zero.
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After Hong Kong regulators approved spot BTC and ETH ETFs in principle, other Asian regulators may also take similar actions. South Korea, Japan and Singapore may follow Hong Kong to approve virtual asset ETFs. Tim Bevan, CEO of ETC Group, an ETP issuer, expects Japan and South Korea to approve such products within 12 months. The CEO of the Bank for International Settlements proposed the concept of "Finternet" and used tokenization as a tool to solve the shortcomings of today's financial system. Finternet refers to a series of interconnected systems that represent RWA and financial assets in a single system managed by smart contracts. The token includes "value and regulatory information usually recorded in the database." Venture capital firm Andreessen Horowitz (a16z) raised $7.2 billion in funds, which will be allocated to different businesses within the company. Including $3.75 billion in growth businesses or late-stage startups and $61 in gaming businesses. a16z still plans to raise more funds focused on cryptocurrencies and biotechnology in 2025. Bitfinex analysts said that the supply of BTC on exchanges held by long-term investors has fallen to its lowest level in 18 months, and coupled with the supply restrictions brought about by the upcoming halving, this dynamic may lead to further price increases. The current behavior of holders is exactly the same as before the sharp rise in the BTC market in December 2020, indicating that it may be entering a similar growth phase. The Matrixport report stated that some people believe that the market may be on the eve of altcoins' rally. Although a few meme coins and altcoins have seen significant gains, based on BTC's market share, this bull market may still be in its early stages, indicating that the gains of other cryptocurrencies in the market are relatively limited, and BTC's market share is still increasing.

Wall Street investment banks have adjusted their forecasts for interest rate cuts. Goldman Sachs, Barclays, Standard Chartered, UBS, TD Securities, Jefferies, BNP Paribas and others believe that there will be two interest rate cuts this year, with the first cut predicted to be in July or September. Fed President Daly believes that the neutral interest rate is between 0.5-1, and with 2% inflation, the neutral interest rate is 2.5-3%, and the interest rate needs to be lowered by 300-250 basis points, which is just a matter of first suppressing and then rising.
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British Economy Minister Bim Afolami said at the Global Summit on Innovative Finance that legislation for stablecoins and cryptocurrency pledges, trading and custody will be proposed by June or July to implement the final recommendations. Once launched, a series of crypto asset activities including operating exchanges and custody of customer assets will be included in the regulatory scope for the first time. In response to inquiries from Hong Kong media, the Hong Kong Securities and Exchange Commission stated that investment products approved by the Securities and Exchange Commission will be listed on the list of investment products for public sale on the commission's website. If the ETF product applied for generally meets the requirements of the commission, a conditional authorization letter will be issued, but it still needs to comply with various conditions, including payment of relevant fees, submission of documents, and approval of listing by the Hong Kong Stock Exchange. It is believed that the relevant fund company will submit an application to the Hong Kong Stock Exchange next. The New York Times reported that Microsoft plans to announce a $1.5 billion investment plan in artificial intelligence company G42 on Tuesday. Germany's largest federal bank Landesbank Baden-Wirttemberg plans to cooperate with Bitpanda to provide cryptocurrency custody services to institutional and corporate clients starting in the second half of 2024. According to lintoTheBlock data, the whale address with at least 0.1% of the BTC circulation added more than 3,000 BTC yesterday, and has not yet bought on dips, which is less than the net inflow of nearly 80,000 BTC (US$5.3 billion) that appeared one day after the price fell below $61,000 on March 20. K33 Research data shows that according to a survey on cryptocurrency adoption in Northern Europe, 15% of people under 40 own cryptocurrency, while only 3% of people over 40 own cryptocurrency. A BTC address that has been dormant for 14 years deposited 50 BTC to Coinbase, about $3.28 million. The address received 50 BTC on April 23, 2010 and has held it ever since.

The monthly rate of retail sales in the United States in March was 0.7%, the highest since September last year. The probability of the Federal Reserve cutting interest rates by 25 basis points by June is 32.6%, and the probability of raising interest rates by 25 basis points is 3.9%. U.S. bonds and the U.S. dollar index rose, while U.S. stocks fell.
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Harvest Global Investments announced that the Hong Kong Securities and Exchange Commission has approved in principle that Harvest will invest in two digital asset spot ETF products. China Asset Management (Hong Kong) has obtained approval from the Hong Kong Securities and Exchange Commission to provide virtual asset management services to investors, and now plans to issue ETF products that can invest in spot BTC and spot ETH. China Asset Management (Hong Kong) said that it will actively study and deploy this with OSL Digital Securities Co., Ltd. and BOC International Prudential Trust Co., Ltd. Two virtual asset spot ETFs jointly applied by Bosera International and Hashkey Capital have been conditionally approved by the Hong Kong Securities and Exchange Commission (SFC). Arkham said that the data of the seven leading US/Canada listed mining companies has a total market value of US$12.71 billion, and these mining companies hold a total of US$2.79 billion worth of BTC in 782 independent addresses. Coinbase Pro's BTC address has decreased by more than 60,000 in the past 30 days. 10x Research: Miners are expected to sell US$5 billion worth of BTC after the halving. KPMG research shows that after a volatile year, investor sentiment seems to be rebounding, and BTC still dominates investors' portfolios (91%), followed by ETH (78%). BTC's market share has risen to nearly 53%, the highest level since April 2021. Analyst Willy Woo said that the current BTC cumulative volume increment (CVD) sell-off has peaked, and it will enter the rising phase afterwards. It will still take several weeks to get a proper bullish environment. On the one hand, the halving is coming, and on the other hand, the longer the consolidation time near the historical high price, the longer it will form long-term support once it breaks through. If it is liquidated at a lower price and falls below the support level of $59,000, then the bear market may come.

The ECB kept the interest rate unchanged at 4.5%. ECB board member Stournaras said: It is time to part ways with the Federal Reserve and reiterated his call for four rate cuts in 2024. The gold price broke through the 2,400 mark, and the production of pancakes was halved on April 20.
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The European Securities and Markets Authority said that the EU MiCA rules have little impact on the European cryptocurrency market. These rules will take effect at the end of this year, but have not yet stimulated an increase in euro trading in the cryptocurrency market. Patrick McHenry, director of the House Financial Services Committee, which promotes stablecoin legislation in the United States, and Representative Maxine Waters of the committee met with Senator Chuck Schumer to promote stablecoin legislation to provide a more stable basis for more volatile cryptocurrencies. South Africa has begun to issue licenses to cryptocurrency companies, and the country's regulator plans to approve about 60 digital asset companies by April. Bloomberg: Hong Kong will approve BTC and ETH spot ETFs as early as next Monday. According to S3 Partners data, investors who short MicroStrategy shares have lost $1.92 billion since March, and investors who short Coinbase and CleanSpark have lost $593.5 million and $106.4 million, respectively. Incubator AO Ventures invested $35 million in Arweave development. Coinglass data shows that Grayscale GBTC premium rate is 0.13%, and ETH Trust negative premium rate is 23.58%. Zach Pandl, managing director of Grayscale Research, said that as the United States continues to overspend and maintain high interest rates, continued inflation and unsustainable budget deficits will drive demand for BTC to continue to grow, and the BTC halving on April 20, as well as faster economic growth and more cryptocurrency adoption, will drive prices up.

Data released by the U.S. on Wednesday showed that the annual rate of overall CPI in March was 3.5%, higher than the expected value of 3.40% and higher than the previous value of 3.20%. The annual rate of core CPI in March was 3.8%, higher than the expected value of 3.70% and the same as the previous value of 3.80%. The annual rate of U.S. CPI in March was 3.5%, the highest level since September 2023. The interest rate swap market fully digested the postponement of the first interest rate cut by the Federal Reserve from September to November, and the bets on a rate cut in June almost disappeared. (After the surge of 300,000 non-agricultural jobs last Friday, the swap market fully priced in the postponement of the first date of the Federal Reserve's interest rate cut from July to September.)
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Gold prices have pushed up their all-time highs to $2,365/ounce. Citigroup expects gold prices to be $2,400 in 0-3 months and $3,000 in 6-12 months. In a bullish scenario, the average gold price in the second half of the year is $2,500/ounce. There are 10 days left before the production cut date. So far, Bitcoin has experienced three production cuts, each of which has brought a nearly two-year bull market.
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The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to allow the New York Stock Exchange to offer spot BTC ETF options trading. The SEC believes that it is necessary to specify a longer period to take action on this proposed rule change so that there is sufficient time to consider the proposed rule changes, with the next deadline being May 29 for a decision to approve, deny or defer. Musk predicts that by next year or 2026, artificial intelligence (AI) may be smarter than the smartest humans. xAI hopes to complete training on the next version of the chatbot Grok in May. The performance of the large model Grok 2.0 version will be better than ChatGPT-4. Musk said that the first unmanned starship will land on Mars within five years, or the first humans will land on Mars within the next seven years. The CoinShares weekly report shows that the total inflow of digital asset investment products last week reached US$646 million, and the total inflow so far this year is US$13.8 billion, a record high, far exceeding the US$10.6 billion in 2021. According to Deribit data, approximately $3.3 billion in nominal ETH options expired at the end of April, with approximately two-thirds being used for call options or price calls, concentrated between $3,700 and $4,000. Brokerage Benchmark Research reported that MicroStrategy (MSTR) has the ability to benefit from BTC’s halving around April 20, raising the target price of MSTR from $990 to $1,875, based on the assumption that BTC reaches $150,000 by the end of 2025. , up from the previous $125,000.

Wells Fargo: Raise the target for the S&P 500 index by the end of 2024 from 4625 to 5535. Last Friday, the U.S. non-farm payrolls grew more than expected, the unemployment rate fell more than expected, and the expectation of a rate cut was postponed again, but to no avail.
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Federal Reserve Chairman Kashkari expressed concern about consumer risks caused by fraud, hype and confusion around BTC. Cryptocurrencies are "too volatile and may cause great harm to some people" because some investors do not fully understand their crypto investments, except as cute toys that some people like to own and trade. From a consumer perspective, there are concerns. The U.S. Consumer Financial Protection Bureau (CFPB) said in the "Banking in Video Games and Virtual Worlds" report that cryptocurrencies may have a small share in the virtual game world sector. It is worth noting that some of the largest game world publishers have expressed increasing interest in positioning their virtual items as crypto assets that can be traded outside the game economy. Users need to be wary of financial risks in video games and virtual worlds. Media, Musk's artificial intelligence startup xAI may be ready to raise $3 billion, which will bring the company's valuation to $18 billion. Musk said that the AI ​​chatbot Srok is awaiting approval from the European Union. Goldman Sachs and two executives of BlockTower Capital announced the establishment of a new crypto investment company focusing on derivatives, real-world asset tokenization, entertainment, games and social networking. Glassnode data shows that approximately 1.876 million BTC (9.5% of the total supply) were acquired at more than $60,000. According to Arkham data, Genesis Trading redeemed more than $2.1 billion worth of GBTC shares in the past three weeks as part of the ongoing bankruptcy proceedings.

The voices of the two Fed voting members helped boost gold, which continued to hit a new high of $2,288 per ounce. Bank of America said that even if the Fed cuts interest rates after the first quarter of 2024, it will still maintain its forecast of a gold price of $2,400 per ounce.
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The U.S. Securities and Exchange Commission (SEC) submitted a notice of amendment to Grayscale Spot ETH ETF (Conversion), submitting Amendment No. 1 on the proposed changes to the listing and trading rules of Grayscale ETH Trust Fund shares. The U.S. Securities and Exchange Commission (SEC) is soliciting public comments on Grayscale, Bitwise and Fidelity Spot ETH ETFs. The SEC stated in the document on itwise: The Commission is issuing this notice to solicit comments from interested persons on the proposed rule changes (as modified by Amendment No. 1), and comments must be submitted within 21 days. Bloomberg reported that Paradigm is in talks with investors to raise $750 million to $850 million for a new fund, which will make it the largest fund in the industry since the cryptocurrency bear market in 2022. RootData data shows that the amount of financing in the crypto field in March exceeded $1.16 billion, the second highest amount in the past 12 months, a jump of 52% from February. USDC Treasury minted 250 million USDC on April 3. Media reports that BTC ETF will be added to the UBS platform and will be widely used next week. UBS manages $3.5 trillion in global wealth. Coinbase's research report indicated that the cryptocurrency market had a good development trend in the second quarter, most of the unfavorable factors were a thing of the past, and the positive factors might "only become more evident from the second half of April." It is expected that the BTC reward halving from April 16 to 20 will still be the main event on the supply side. The four-year halving means that miners' rewards are reduced by 50%, thereby reducing the growth rate of BTC supply.

Gold broke through 2,276 US dollars per ounce, setting a new record high, rising by nearly 25 US dollars during the day. Standard Chartered believes that the U.S. dollar has "slightly weakened" from mid-year, and the Federal Reserve may be more inclined to ease monetary policy in the second quarter.
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Fox senior reporter Charles Gasparino: Judge Analisa Torres’s favorable ruling against the U.S. Securities and Exchange Commission (SEC) in the Ripple case may not withstand higher levels of judicial review. In this case, the U.S. SEC achieved a key victory. , casting doubt on the idea that digital assets can circumvent securities laws, a ruling that could have far-reaching consequences for the entire cryptocurrency industry. Yang Zaiyong, deputy director of the Hong Kong Financial Association, said that the development of digital finance in Hong Kong has entered a new milestone. Hong Kong regulators have an open and supportive attitude towards RWA innovation. For example, the Securities and Exchange Commission has made it clear that RWA investment is expected to be open to retail investors. If Hong Kong strives to become a global RWA innovation The source of innovation must further improve the top-level design, break through innovation bottlenecks, optimize infrastructure, cultivate market ecology, and lead the industry to a higher-quality and more sustainable track. CoinShares data shows that digital asset investment products saw an inflow of $862 million last week. BTC saw an inflow of $865 million, ETH saw an outflow of $18.9 million, and Solana saw an inflow of $6.1 million. ETH liquidity re-pledge agreement TVL exceeded 8 billion US dollars. According to The Block data, CEX’s total spot trading volume in March was US$2.48 trillion, close to the level in November 2021 (US$2.56 trillion). Stefan von Haenisch, director of agency OSL SG Pte, said that the prospect of fewer interest rate cuts by the Federal Reserve is having an impact on cryptocurrencies. As the week comes, cryptocurrencies have seen a sell-off. No industry is unaffected, especially those whose prices have been affected in the past six months. Coins that exceed BTC.

On Monday, the United States released data showing that the ISM manufacturing PMI in March was 50.3, higher than the expected value of 48.4 and higher than the previous value of 47.8. The U.S. ISM manufacturing PMI in March recorded 50.3, halting the trend of shrinking for 16 consecutive months and weakening expectations for an interest rate cut by the Federal Reserve. U.S. stocks fell slightly. Entering the second quarter. In the second quarter of the past 11 years, the market rose 7 times and fell 4 times. In the last halving year, it rose 9% in the second quarter of 2020.
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Technology media The Information: Microsoft and OpenAl plan to invest more than US$100 billion in data centers, including an artificial intelligence supercomputer called "Stargate" equipped with millions of dedicated server chips to implement AGI for OpenAI (General Artificial Intelligence) provides powerful power. ConsenSys submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) advocating for the approval of a spot ETH ETF. The letter refuted the SEC’s concerns about ETH and emphasized that the security of ETH is superior to the framework supporting the existing BTC ETF. The deadline for the SEC to make a decision on VanEck’s spot ETHETF application is May 23. According to Block Deals Dashboard data, the total financing amount of crypto projects in March exceeded US$1.4 billion, a new high since September 2022. In March, stablecoins rose from US$143.3 billion to US$151.4 billion, and their market value increased by more than US$8 billion. Tether added another 8,888 BTC, equivalent to approximately US$630 million, and its holdings reached 75,354.08 BTC (the last increase was on December 31, 8,888 BTC, worth US$380 million at the time). Tether continues to increase its holdings every quarter. BTC. Glassnodle said that BTC prices have retreated 15.4% from the all-time high of $73,000, and this price behavior is very consistent with the previous 2018-21 cycle.

The first quarter of U.S. stocks came to an end. The S&P 500 rose more than 10% in Q1, recording the largest first-quarter gain since 2019. The index has hit record highs 22 times this year. NVIDIA surged 82% in Q1, with its market value increasing by more than US$1 trillion; gold hit a record high of US$2,236 and had its best monthly performance in more than three years.
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Hong Kong Member of Parliament Wu Jiezhuang said that Hong Kong will have a stable currency consultation and sandbox, which will allow the industry to innovate digital asset projects in a sandbox environment. The relevant legislation will be reviewed in the Legislative Council at the end of this year or next year, which will help the overall development of digital assets. Industry ecological environment. Hong Kong has been improving the digital asset (virtual asset) market at different legal levels. Last year, there was legislation and licensing system for virtual currency trading platforms. Amazon has injected another US$2.75 billion into the artificial intelligence company Anthropic, which is its latest investment after injecting US$1.25 billion into Anthropic in September 2023. Amazon acquired a minority stake in Anthropic. Cathie Wood explained the reason for selling Coinbase shares: It is active portfolio management, it has exceeded 10% of the portfolio, and it is still the number one position. Immunef reports that the cryptocurrency industry has lost $336.3 million to hackers and scams in the first quarter so far. Hong Kong financial services company Venture Smart Financial Holdings Ltd. It has submitted an application for a spot BTC ETF and plans to launch the ETF as early as May. It said that it is difficult to determine the exact date through regulatory procedures and is actively discussing with the Hong Kong Trade Commission. Bitwise files a spot ETH ET application with the U.S. Securities and Exchange Commission (SEC). Bitwise analyst Gayatripc said that the demand for BTC ETF in the United States has reached 7 times of the new BTC supply, and this result may be affected by the BTC halving event.

Data released by the United States on Thursday showed that the core PCE price index in the fourth quarter was 2.0%, lower than the expected value of 2.1%, lower than the previous value of 2.1%; the one-year inflation in March is expected to be 2.9%, lower than the expected value of 3.1%, lower than the previous value of 3.0 %; inflation indicators fell slightly, gold exceeded 2,222.7 US dollars per ounce, setting another record high; the market rebounded.
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The UK Financial Conduct Authority stated in a statement that any marketing of financial products, including those expressed in emojis, should be fair, clear and not misleading. "Financial influencers" must obtain approval from the FCA's designated representative to produce advertisements and emojis about financial products. A US judge allowed the US Securities and Exchange Commission (SEC) to accuse Coinbase of failing to register as a securities business, and the judge dismissed the SEC's allegations that Coinbase acted as an unregistered broker through Wallet's application. Coinbase Chief Legal Officer paulgrewal.eth said: "Today the court decided that our case with the SEC will continue to advance most of the claims, but dismissed the claims against Coinbase Wallet, and technological innovation will not and cannot involve US securities laws." 21Shares said that its spot BTC ETF (ARKB) has more than $3 billion in assets under management. Bojan Obradovic, HSBC's director of digitalization in Hong Kong, said that HSBC hopes to be part of Hong Kong's development of digital assets and become the first bank in Hong Kong to issue digital currency, and is moving towards the plan. According to RWA xyz data, BlackRock's tokenized investment fund BUIDL received $245 million in inflows within a week of its launch, second only to Franklin Templeton's On-Chain U.S. Money Fund (FOBXX), which has $360 million.

A British computer expert who lost a hard drive containing 7,500 BTC in 2013 has launched legal action asking Newport City Council to allow him to search the landfill where the storage device is believed to be buried.
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The second report from the Government Asset Management Working Group Technical Working Group, published by the UK Investment Association, explores two use cases for fund tokenization, as well as three other areas. Most research on fund tokenization focuses on the tokenization of fund units, but some asset managers are also considering investing funds in tokenized securities, which could lead to composable funds and greater customization. Members of the U.S. House of Representatives wrote to the head of the U.S. Securities and Exchange Commission, requesting clarification on whether ETH is a security. The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement lawsuit in the U.S. District Court for the Southern District of New York, accusing KuCoin, a centralized digital asset exchange, of repeatedly violating the Commodity Exchange Act (CEA) and CFTC regulations. Tether announced that it will expand its strategic focus to the field of artificial intelligence and is committed to promoting the development of open artificial intelligence. Ark Invest sold $21 million worth of Coinbase shares yesterday. Fund giant Franklin Templeton, which manages more than $1 trillion in assets, launched the BTC/ETH Independently Managed Account (SMA). The SMA will provide investors with a series of risk exposures beyond BTC, but will limit the allocation of BTC and ETH to 25% of the portfolio. Asset management giant BlackRock said that as BTC has begun to gain popularity on Wall Street, its returns may decline.

HSBC raised its forecast for the end of 2024 to 5,400 points; Goldman Sachs believes that large technology stocks may push the S&P 500 index to 6,000 points by the end of this year. Bank of America is the most outrageous, predicting that the S&P 500 index may rise another 34% by the end of 2026, or reach 7,000 points.
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EU financial market regulators have released a series of landmark reports on the Markets in Digital Assets Act (MiCA), which include proposals for the information regulators will require from companies required for authorization, as well as for companies to establish the provision of crypto services and intent to obtain Requirements for cryptoassets, and how service providers should handle complaints. The London Stock Exchange has confirmed that it will launch trading in BTC and ETH cryptocurrency exchange-traded funds (ETNs) on May 28, 2024. Note: ETNs are typically unsecured debt securities issued by banks, and investors are exposed to the credit risk of the issuer. The Hong Kong Securities and Exchange Commission reminds you to beware of fraud related to virtual assets operated by many companies operating under the name "HKCEXP". HKCEXP once claimed to be a "company registered with the Securities and Exchange Commission" and provided false and misleading information. The Hong Kong Securities and Exchange Commission warns the public to beware that EDY is suspected of engaging in virtual asset-related fraud. CoinShares data shows that digital asset investment products saw a record outflow of $942 million last week, the first outflow after seven consecutive weeks of total inflows reaching a record $12.3 billion. Nilam Resources, Inc. of the United States signed a letter of intent with Xyberdata Lto and plans to acquire 24,800 BTC. Andrei Grachev, co-founder of DWF Labs, said that artificial intelligence, RWA, games, zero-knowledge proofs, infrastructure, decentralized finance, and derivatives are all trends.