News Preview:
- The higher reciprocal tariff rates proposed by Trump, ranging from 11% to 50%, will take effect on April 9;
- Saga (SAGA) will unlock approximately 133 million tokens at 4 PM Beijing time on April 9, accounting for 118.54% of the current circulation, valued at about $35.1 million;
- The U.S. House of Representatives will hold a hearing on April 9 to promote digital asset regulatory legislation;
- The registration date for the next round of FTX distributions is April 11;
- The U.S. SEC will hold its second roundtable on crypto regulation on April 11;
- Aptos (APT) will unlock approximately 11.31 million tokens at 4 PM Beijing time on April 12, accounting for 1.87% of the current circulation, valued at about $53.7 million;
- Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8 AM Beijing time on April 13, valued at about $161 million.
April 7
Project Updates:
The AI Agent competition initiated by BNB Chain will end on April 7
BNB Chain launched the AI Agent competition aimed at encouraging innovation and discovering potential AI decentralized applications. This competition is designed to promote innovation and development in the AI field, aligning with BNB Chain's AI First development direction. The competition consists of 8 rounds and will end on April 7, 2025. In each round, the best-performing AI agents will be selected based on specific criteria, including market cap ranking, market cap growth, community member influence, and community engagement. The BNB Chain Foundation will purchase $10,000 worth of the winning AI project tokens with BNB in each round and distribute them through airdrops to 1,000 users holding these tokens.
Token Unlocking:
Neon (NEON) will unlock approximately 53.91 million tokens at 8 AM Beijing time on April 7, accounting for 22.51% of the current circulation, valued at about $6.1 million.
April 8
Exchanges:
OKX will delist MAX/USDT, KISHU/USDT, 1INCH/USD, and GRT/USD perpetual contracts on April 8
OKX announced that it will periodically delist certain perpetual contracts. The following trading pairs will stop trading at 4 PM Beijing time on April 8, 2025: MAXUSDT, KISHUUSDT, 1INCHUSD, and GRTUSD.
Bybit will officially close NFT, inscription, and ID0 services on April 8
According to Bybit's announcement, to optimize its product structure, Bybit Web3 will officially close the NFT market, inscription market, and ID0 page starting at midnight on April 8, Beijing time. Users need to manage their related assets properly before this and transfer airdrop tokens from the Web3 cloud wallet to a seed phrase or private key wallet.
Token Unlocking:
Tensor (TNSR) will unlock approximately 120 million tokens at 11 PM Beijing time on April 8, accounting for 35.86% of the current circulation, valued at about $15.1 million.
April 9
Macroeconomics:
On Wednesday, April 2, U.S. President Trump signed two executive orders regarding so-called "reciprocal tariffs" at the White House, announcing a 10% "minimum baseline tariff" on all trade partners and imposing higher tariffs on several trade partners. Trump stated that the U.S. will impose reciprocal tariffs on dozens of trade partners, but the tariffs will not be completely reciprocal; the U.S. will charge these countries and regions an overall tax rate of about half. Trump displayed a poster listing the reciprocal tariffs. The chart shows that the U.S. imposes a 34% reciprocal tariff on China, a 20% reciprocal tariff on the EU, a 10% reciprocal tariff on Brazil and the UK, 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.
A senior White House official stated that the baseline tariff rate (10%) will take effect at midnight on April 5, and the reciprocal tariffs will take effect at midnight on April 9. The tariff exemptions under the USMCA will continue, while tariffs on goods not compliant with the USMCA will remain at 25%. Previously, several trade partners have indicated that they will take countermeasures in response. European Commission President von der Leyen stated that the EU "holds many cards" in the face of the new tariffs to be introduced by the Trump administration and has developed a strong countermeasure plan that will be implemented if necessary. Canadian Prime Minister Carney stated that if Trump fulfills his "reciprocal tariff" promise, Canada plans to implement counter-tariffs on U.S. goods this week. Carney warned that the relationship between Canada and the U.S. has fundamentally changed, and Canada has "multiple measures to respond."
Policy Regulation:
The Digital Assets Subcommittee of the U.S. House Financial Services Committee will hold a hearing titled "The Future of American Innovation and Digital Assets: Adjusting Securities Laws for the Digital Age" on April 9. This is the first public effort by the 119th Congress to establish a federal regulatory framework for the $2.7 trillion crypto industry. The House plans to release a revised version of market structure legislation in the coming weeks and will review the STABLE Act next week, which is the counterpart to the Senate's GENIUS Act. Republican leadership is working to send the stablecoin and market structure bills to President Trump for signing before the August recess.
The U.S. SEC has postponed its decision on BlackRock's Ethereum ETF options trading to April 9
The U.S. Securities and Exchange Commission (SEC) postponed its decision on whether to approve BlackRock's listing and trading of options on its spot Ethereum ETF. According to the submitted documents, the SEC stated that it will decide by April 9, 2025, whether to approve or deny the proposal to allow BlackRock's iShares Ethereum Trust to trade options. The SEC stated, "The Commission believes it is necessary to specify a longer time to issue an order approving or disapproving the proposed rule change to allow sufficient time to consider the proposed rule change and the issues it raises." Similarly, on Friday, the SEC sought public comments on the proposal submitted by Fidelity to list and trade options on its spot Ethereum ETF at the Cboe BZX exchange. These comments must be submitted within 21 days after publication in the Federal Register.
Token Unlocking:
Saga (SAGA) will unlock approximately 133 million tokens at 4 PM Beijing time on April 9, accounting for 118.54% of the current circulation, valued at about $35.1 million.
Movement (MOVE) will unlock approximately 50 million tokens at 8 PM Beijing time on April 9, accounting for 2.04% of the current circulation, valued at about $18.5 million.
April 10
Macroeconomics:
2 AM: The Federal Reserve will release the minutes of the March monetary policy meeting.
8:30 PM: U.S. March CPI data, initial jobless claims for the week ending April 5.
According to China News Service, on April 2, 2025, the U.S. government announced reciprocal tariffs on goods exported from China to the U.S. The U.S. approach does not comply with international trade rules, severely harming China's legitimate rights and interests, and is a typical example of unilateral bullying that harms U.S. interests and threatens global economic development and supply chain stability.
In accordance with the Customs Law of the People's Republic of China, the Customs Law of the People's Republic of China, the Foreign Trade Law of the People's Republic of China, and other laws and regulations, as well as the basic principles of international law, and with the approval of the State Council, the State Council Tariff Commission announced that starting from 12:01 PM on April 10, 2025, a 34% tariff will be imposed on all imported goods originating from the U.S. Goods that have been shipped from the place of origin before 12:01 PM on April 10, 2025, and imported between 12:01 PM on April 10, 2025, and 12 AM on May 13, 2025, will not be subject to this additional tariff. China urges the U.S. to immediately cancel unilateral tariff measures and resolve trade disputes through consultation in an equal, respectful, and mutually beneficial manner.
Exchanges:
Coinbase International will launch NIL, VINE, GUNZ, and EDGE perpetual contracts on April 10
According to the announcement from Coinbase International Exchange, it will launch perpetual contract trading for NIL, VINE, GUNZ, and Definitive projects on the international site and Advanced platform starting at 9:30 AM UTC on April 10, 2025, with codes NIL-PERP, VINE-PERP, GUN-PERP, and EDGE-PERP, respectively.
Project Updates:
UXLINK announces Season 3 airdrop plan, snapshot on April 10
Web3 social platform and infrastructure UXLINK announced the launch of the Season 3 airdrop plan on March 11, 2025, and introduced an exclusive NFT project for users in Japan and South Korea. The snapshot for the airdrop will be taken on April 10, with the claiming period starting on April 18. The total amount of this airdrop is expected to be no more than 3.077% of the total supply, lower than the previous S1 and S2's 10%. Airdrop recipients include community users using the OAOG protocol, developers and partners of the test network and AI growth agents, participants in the S3 staking activities, and other active users.
At the same time, UXLINK plans to pilot the launch of NFT-based "Social Club Cards" priced in ETH in Japan and South Korea. Cardholders will enjoy benefits including priority for airdrops, free payment cards, participation in ecological airdrops, and priority entry to offline events. The official statement indicates that this program may expand to other regions in the future.
Do Kwon's hearing postponed to April 10 due to the need for more time to review 4TB of new evidence
The resolution of the court case against Do Kwon, founder of Terraform Labs, has been postponed for a month as the U.S. government claims that Kwon's defense team needs more time to review an additional 4TB of evidence. The status conference originally scheduled for March 10, where both parties' lawyers would discuss the current progress of the case and possible resolutions, has been postponed. According to a written request submitted by the U.S. government, the New York District Court has rescheduled the conference to April 10. The court agreed to the U.S. request and stated that the meeting would be postponed "to allow the defense to review the large amount of evidence."
The U.S. government claims it submitted 600GB of evidence to the defense on February 27, including Kwon's phone data, emails, and cryptocurrency transaction records. Additionally, the government stated that "it expects to provide the defense with an additional 4TB of evidence by the end of next week." The court order postponing the meeting noted that the final trial "is still scheduled for January 26, 2026."
U.S. judge postpones sentencing date for Mango Markets attacker to April 10
Avraham "Avi" Eisenberg, who was convicted of fraud and market manipulation for exploiting vulnerabilities in the decentralized exchange Mango Markets, will be sentenced on April 10. In a filing submitted to the U.S. District Court for the Southern District of New York (SDNY) on January 8, Judge Arun Subramanian granted Eisenberg's attorney's request to postpone the sentencing hearing to April 10. He was originally scheduled to be sentenced on December 12, but the hearing was postponed to February 11 after his conviction in April 2024. The legal team for the Mango Markets exploiter requested the delay on January 7, citing "the complexity of the factual record and certain sentencing issues." The U.S. Attorney's Office did not object to this change.
In October 2022, Eisenberg exploited a vulnerability in Mango Markets, stealing over $100 million. Although he returned about $67 million, he retained over $40 million after a community governance vote. In December of the same year, Eisenberg was arrested by U.S. authorities and has been detained for nearly two years. If sentenced to the maximum term, he could face 20 years in prison. Additionally, Eisenberg may face civil enforcement actions from the U.S. SEC and CFTC. These two cases were paused in March 2023 and may be reopened after the criminal case concludes.
April 11
Macroeconomics:
8:30 PM: U.S. March PPI data
Policy Regulation:
The U.S. SEC will hold its second roundtable on crypto regulation on April 11
The U.S. Securities and Exchange Commission (SEC) will host its second roundtable on crypto regulation from 1 PM to 5 PM Eastern Time on April 11, focusing on "Tailored Regulation for Cryptocurrency Trading."
Exchanges:
The registration date for the next round of FTX distributions is April 11
According to FTX creditor Sunil, the registration date for the next round of FTX distributions is set for April 11, 2025, with the distribution starting on May 30, 2025. This distribution will target claims over $50,000, as well as those approved but not paid in the first distribution for claims under $50,000.
April 12
Developer Activities:
YZi Labs will collaborate with AGI House and DoraHacks to hold a hackathon on April 12 and 13
YZi Labs announced the launch of a global hackathon starting in April 2025, including an offline event at AGI House in Silicon Valley on April 12 (with a special online address from CZ) and an online hackathon in collaboration with DoraHacks from April 13 to 27. Additionally, a BUIDLer Breakfast networking event will be held at Stanford University on April 13. Participants will build innovative financial products around AI + blockchain, including AI investment assistants, on-chain data analysis and anti-fraud solutions, and financial document processing and compliance technology. Winners will have the opportunity to join the YZi Labs incubation program and receive direct investment opportunities.
Token Unlocking:
Aptos (APT) will unlock approximately 11.31 million tokens at 4 PM Beijing time on April 12, accounting for 1.87% of the current circulation, valued at about $53.7 million.
Axie Infinity (AXS) will unlock approximately 9.09 million tokens at 9:10 PM Beijing time on April 12, accounting for 5.68% of the current circulation, valued at about $24.5 million.
April 13
Project Updates:
The cross-chain interoperability protocol Hyperlane will conduct a $HYPER token airdrop on April 22, with 57% of the total supply allocated to community users, while the team, investors, and foundation will receive 25%, 10.9%, and 7.1%, respectively. The community airdrop portion will be fully unlocked, while the team and investor tokens will be locked for 12 months. Users must check their eligibility through the official portal by April 13.
Token Unlocking:
Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8 AM Beijing time on April 13, valued at about $161 million.
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