Key Takeaways
- Market Environment: Risk assets surged briefly on optimism over trade negotiations, but hopes were dashed after White House officials ruled out near-term tariff exemptions, triggering another "rollercoaster" decline in U.S. stocks. Crypto market sentiment remains extremely fearful, with Bitcoin mirroring stock market volatility—briefly falling from 80,000 to below 76,000. Altcoins show no clear trend, remaining under pressure.
- Regulatory Developments: U.S. DOJ disbands its crypto enforcement unit, effectively halting regulatory actions against virtual currency exchanges and non-custodial wallets. DOJ clarifies that crypto developers are not liable for how their code is used (e.g., mixers, wallets), signaling further deregulation under the Trump administration.
Main Assets Changes
Fear & Greed Index: 18 (down from 24), indicating extreme fear.
Industry Highlights
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U.S. raises tariffs on Chinese goods to 104%.
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U.S. Trade Representative: Many countries have declined retaliatory measures, and Trump will not grant tariff exemptions soon.
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Trump demands EU buy $350B in U.S. energy for tariff relief.
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EU expected to submit a counter-tariff plan next week.
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Ripple acquires Hidden Road (a crypto-friendly prime broker) for $1.25B, expanding institutional services.
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First U.S. XRP ETF (XXRP) launches Tuesday.
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PancakeSwap proposes CAKE Tokenomics 3.0, aiming to reduce supply by 20% over 5 years.
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CBOE files 19b-4 for Canary’s SUI ETF.
Project Highlights
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RFC: A Solana meme coin ("Retard Finder" theme) surges after Binance Alpha listing (~$70M peak cap).
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CAKE: PancakeSwap’s supply reduction proposal boosts sentiment.
Weekly Outlook
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April 9: Trump’s "reciprocal tariffs" take effect. U.S. House hearing on digital asset regulation. SAGA unlocks 118.54% of supply (~$35.1M).
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April 10: Fed March meeting minutes. U.S. March CPI data. China imposes 34% tariffs on U.S. goods.
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April 11: U.S. March PPI data. SEC’s second crypto regulation roundtable.
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