IMF: Tokenized finance may reshape the global financial system and introduce new systemic risks.
According to AMB Crypto, the International Monetary Fund (IMF) has warned that tokenized finance could fundamentally reshape the global financial system, while introducing new systemic risks due to its speed and automation. Tokenization shifts trust from traditional intermediaries to smart contracts and shared ledgers, enabling near-instant settlement and 24/7 market activity, but also eliminating the buffers found in traditional finance. Automatic margin calls, real-time settlement, and programmable fund flows could accelerate liquidity stresses during market volatility, and smart contract vulnerabilities could spread rapidly, affecting multiple participants. Currently, tokenized real-world assets total approximately $27.5 billion, with US Treasury products dominating (over $12 billion). The IMF emphasizes that the long-term impact of tokenization depends on risk management at both the technological and regulatory levels.
Two wallets received 1,781 BTC from BitGo, worth nearly $119 million.
According to Onchain Lens monitoring, four hours ago, two wallets received 1,781 BTC from BitGo, worth $118.92 million.
According to Cryptopolitan, Grayscale stated in its latest report that the crypto market showed resilience in March, but still has a long way to go before a full recovery. Bitcoin's net return in March was only 1.81%, avoiding a six-month losing streak. Hyperliquid's HIP-3 perpetual futures contracts were the best-performing sector in March, rapidly growing from zero to record daily trading volume, with oil futures becoming a new liquidity hotspot. Hyperliquid's HIP-3 contracts accounted for 40% of the platform's trading activity. The SEC issued several rulings this month regarding the legal status of crypto assets as securities. Grayscale pointed out that the oil price shock triggered by the Iran war was a major factor affecting the crypto market, with oil prices rising 63% per barrel, raising inflation concerns and expectations of interest rate hikes in major economies.
A new wallet received 488,500 HYPE tokens from FalconX, worth $17.18 million.
According to Onchain Lens monitoring, a newly created wallet received 488,599 HYPE from FalconX, worth $17.18 million.
According to Blockspace, Bitcoin mining company MARA is laying off approximately 15% of its workforce, affecting full-time employees and contractors across multiple departments. CEO Fred Thiel stated in an internal memo that this move is a strategic adjustment rather than a purely financial decision, as the company is transforming from a pure Bitcoin mining company into an energy and digital infrastructure company. Affected employees will receive one month of paid leave, 13 weeks of severance pay, and full compensation for any unused vacation time. MARA had previously partnered with Starwood and Exaion to convert approximately 1 GW of its Bitcoin mining infrastructure into AI computing power facilities. MARA recently sold 15,133 bitcoins for $1.1 billion to repay $1 billion in convertible bonds. The company projects a net loss of $1.3 billion by 2025.
Trump appoints Todd Blanche, author of the crypto enforcement memo, as acting Attorney General.
According to CoinDesk, US President Trump dismissed Attorney General Pam Bondi and appointed his former personal lawyer, current Deputy Attorney General Todd Blanche, as acting Attorney General. Blanche previously represented Trump in criminal cases in New York. Upon assuming the position of Deputy Attorney General, he ordered the disbandment of the Justice Department's National Cryptocurrency Enforcement Team and signed a memorandum instructing prosecutors to cease pursuing regulatory violations in the crypto industry.
According to Cointelegraph, following yesterday's report of the Commodity Futures Trading Commission (CFTC) and the Department of Justice suing Illinois, the two regulatory agencies have also filed lawsuits against Connecticut and Arizona, arguing that the federal government has exclusive jurisdiction over prediction markets. The CFTC claims it "first formally recognized" event contracts in 1992, and Congress has granted it sole regulatory authority over the market. Previously, betting regulators in these three states issued stop-loss orders to prediction platforms such as Kalshi and Polymarket, arguing that event contracts violated state gambling laws. The CFTC chairman stated that these states' "aggressive and excessive" overreach has led to market uncertainty. Currently, 11 states have taken legal action against prediction markets, and congressional lawmakers are pushing forward proposals to ban sports-related event contracts.
In March, hedge funds withdrew from global stock markets at the fastest pace in 13 years.
According to Jinshi News, investors are increasingly reducing their holdings in global equities as hopes for a swift resolution to the Middle East conflict fade. Data collected by Goldman Sachs' institutional brokerage division shows that hedge funds sold off global stocks at the fastest pace in 13 years in March, the second fastest since Goldman Sachs began collecting such data in 2011. This move was primarily driven by increased short selling, highlighting concerns about further weakness in the stock market amid the ongoing conflict in Iran. The MSCI World Index fell 7.4% in March, its worst monthly performance since 2022, while the S&P 500 fell 5.1% during the same period.
Fed's Williams: Inflation and employment risks are converging, favoring holding rates steady.
According to Jinshi News, New York Federal Reserve President Williams stated that the inflation and employment risks from rising energy prices have reached a "balance," and he leans towards supporting maintaining the current interest rate. Williams stated, "Monetary policy, through the actions we took last year and our current stance, is actually well-positioned to balance these risks, and that's exactly what we need to do." Williams also indicated that he doesn't believe losses in private credit (non-bank lending) pose a systemic risk, despite some investors in that sector demanding early redemptions. Williams attributed this primarily to the repricing of underlying loans. He said, "I don't think it currently poses a systemic risk to our financial system," noting that policymakers are "closely monitoring" banks' exposure. When asked if some private credit funds could be considered "too big to fail," he replied, "Absolutely not."
The US bombing of a bridge in Iran may lead to further attacks on infrastructure.
According to a report by Axios cited by Jinshi, the US military launched its first attack on major civilian infrastructure in Iran on Thursday, just hours after Trump threatened to bomb Iran "back to the Stone Age." The attack on the Karaj B-1 bridge near Tehran indicates that the US military's target range is expanding, and this may only be the beginning of attacks on energy, water, and transportation infrastructure. A US Department of Defense official stated that more bridges may be targeted. The bridge was attacked because it was used by Iranian armed forces to secretly transport missiles and missile components from Tehran to launch sites in western Iran. Missile components were transported across the bridge in large crates and containers and assembled at the launch sites. According to the official, the bridge was also used to provide logistical support to Iranian military forces in Tehran.
SpaceX is poised to reach a valuation of $2 trillion, surpassing Meta and Tesla.
According to Jinshi News, sources familiar with the matter revealed that SpaceX has raised its target valuation for its initial public offering to over $2 trillion. These sources stated that the company and its advisors are disclosing this valuation target to potential investors in preparation for meetings in the coming weeks. Foreign media previously reported that these so-called "trial" briefings may contain more information supporting this valuation. In February, it was reported that SpaceX's valuation after acquiring Musk's xAI was $1.25 trillion. At a $2 trillion valuation, SpaceX would surpass all companies in the S&P 500 except for Nvidia, Apple, Alphabet (Google's parent company), Microsoft, and Amazon, and would also surpass two other members of the "Big Seven" of US stocks—Meta and Musk's own Tesla.
According to data and analysis from The Block, Hyperliquid's market share in the perpetual contract market has climbed to nearly 6%, a significant increase from approximately 3.5% a year ago, with monthly trading volume approaching $200 billion. This growth occurred during a period when overall exchange trading volume declined from its peak in August 2025, indicating that Hyperliquid is truly capturing market share. On-chain competitors such as dYdX and GMX have not yet reached Hyperliquid's level in terms of trading volume growth or product expansion. Hyperliquid's expansion into non-crypto assets such as oil is a significant part of its growth, and its 24/7 trading model eliminates the gap risk caused by traditional market opening time restrictions.
According to a report by The Information cited by Jinshi, Tether is making a final push to raise funds at a valuation of $500 billion and is urging investors to commit to an agreement within the next two weeks.
According to an official announcement from Sonic Labs, approximately 32.69 million S tokens from the first and second quarter airdrops remain unclaimed. If not claimed by the deadline, they will be burned on October 15, 2026. Claiming the first quarter airdrop before April 18, 2026, will still incur a penalty; however, it can be claimed without penalty between April 18 and October 15. For the second quarter airdrop, claiming before May 24 will incur a penalty; however, it can be claimed without penalty between May 24 and October 15. Tokens not claimed by the deadline will be permanently burned.
According to Bloomberg, European Central Bank (ECB) Executive Board member Piero Cipollone stated that the digital euro project is "moving well" and could be launched in July 2029. He noted that sufficient consensus has been reached at the legislative level, and banks' interest in participating in the pilot program is increasing. The ECB plans to launch a 12-month pilot phase in the second half of 2027. Cipollone anticipates that if legislation is in place by the end of this year, the digital euro will be issued in July 2029, and he currently sees no major obstacles. ECB officials have previously expressed concerns about reliance on US payment companies such as Visa and Mastercard, as well as the US dollar-pegged stablecoin supported by Trump.
Circle launched a packaged Bitcoin token, cirBTC, backed by Bitcoin at a 1:1 ratio.
According to The Block, Circle has launched cirBTC, a Bitcoin-wrapped token backed 1:1 by Bitcoin, designed to provide institutions with a "highly secure and neutral version of wrapped BTC." The token will initially be issued on the Ethereum mainnet and Circle's incubated Arc Layer 1 platform, and will fully integrate with Circle's existing technology stack, including the Arc blockchain and the Circle Mint platform. Circle states that cirBTC is suitable for over-the-counter trading platforms, market makers, lending protocols, and other institutions that require a neutral, secure, and high-performance tokenized version of Bitcoin. Currently, several Bitcoin-wrapped tokens exist on the market, including cbBTC issued by long-term partner Coinbase, while the earliest wBTC saw some institutions reduce their exposure due to involvement with entities associated with Justin Sun.
Coinbase has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish the Coinbase National Trust Company. Coinbase emphasizes that this approval does not involve becoming a commercial bank, accepting retail deposits, or engaging in fractional-reserve banking. Rather, it provides a unified federal regulatory framework for its long-standing custody and market infrastructure businesses. The company states that while retaining its New York State NYDFS BitLicense and state trust license, the OCC custody trust license will provide a compliance basis for developing new products such as payments.
According to Reuters, the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice have filed a lawsuit against the state of Illinois, Governor JB Pritzker, Attorney General Kwame Raoul, and the state's gaming regulators, arguing that the state has no authority to regulate prediction markets regulated by the CFTC. The lawsuit stems from Illinois' previous demands that Kalshi, Polymarket, and Crypto.com cease their operations, while the federal government argues that such event trading contracts are governed by federal derivatives laws, and that state intervention infringes on the CFTC's exclusive regulatory authority.
Nikita Bier, product manager for X, stated that the platform is developing a new mechanism: if a user posts cryptocurrency-related content in their account history for the first time, it will trigger an automatic account lockout and identity verification process to combat phishing and fraudulent activities. She claims this move could reduce the motivation for such activities by 99%, especially given the continued prevalence of phishing emails.
Iran says it is drafting a passage agreement for the Strait of Hormuz with Oman.
According to the Islamic Republic News Agency (IRNA), Iranian Deputy Foreign Minister Gharibabadi stated that Iran is drafting a passage agreement for the Strait of Hormuz with Oman.
AI model evaluation platform yupp.ai will officially shut down on April 15th. New registrations and chat logs have been discontinued; users can only view historical chat records and download data as instructed. Yupp stated that since its launch last June, it has provided multi-model comparison and evaluation services to over 1.3 million users and numerous paid AI labs, but failed to achieve a sufficiently strong product-market fit. Furthermore, with the rapid improvement of model capabilities and the migration of user workflows to agent systems that connect to tools, memory, and external services, the importance of chat-based crowdsourced model evaluation has declined, leading the company to decide to gradually cease operations.
Polymarket integrates with Pyth Pro to provide real-time quotes for traditional assets.
The prediction market platform Polymarket has integrated Pyth Pro as a data source for its traditional asset contracts, initially covering intraday price changes and closing prices for gold, silver, and major stock index ETFs. Pyth Pro provides price data directly from institutions such as Jump Trading, Jane Street, and Cboe via WebSocket. Polymarket samples and displays this data every second as real-time price curves and "price to beat" indicators for settling high-volume positions.
Coinbase's neutral internet payment protocol x402 will be migrated to the Linux Foundation and operated as an independent foundation, the "x402 Foundation." Amazon Web Services, American Express, Ant International, Base, Circle, Google, KakaoPay, Mastercard, Microsoft, Polygon Labs, Shopify, Solana Foundation, and Visa will join as new members in protocol governance. x402, named after the HTTP 402 "Payment Required" status code, is positioned as an open and neutral payment standard supporting crypto assets and traditional payment channels (credit cards, ACH, bank transfers, etc.).
Wallet in Telegram, Telegram's built-in wallet app, announced the launch of its Perpetuals perpetual contract feature, allowing users to open long and short positions directly within Telegram. This feature covers over 50 markets, including metals, stocks, crude oil, and cryptocurrencies, supporting leverage up to 50x and a minimum entry amount of $1. Powered by Lighter, the product displays real-time profit and loss, margin, and liquidation price, and allows users to set stop-loss and take-profit orders. The project team also cautioned that crypto investments carry high risk, and service may be restricted in some regions.
According to The Block, SoFi has launched its "Big Business Banking" platform for businesses, integrating fiat currency accounts and crypto asset management into a single regulated system. Operated by SoFi's nationwide licensed bank, the platform supports corporate deposits, 24/7 payment settlement, and liquidity management, covering fiat currency, the SoFiUSD stablecoin, and some cryptocurrencies, and provides functions such as SoFiUSD minting and burning. Businesses can manage traditional and on-chain cash flows through a unified interface and access payment infrastructure via API.
US stock futures extended their losses, with Nasdaq futures falling more than 2%.
U.S. stock futures extended their losses, with Nasdaq 100 futures down more than 2%, Dow Jones futures down about 1.4%, and S&P 500 futures down about 1.6%.
WTI crude oil surged 10% intraday.
According to Bybit data, international crude oil prices surged during the day, with WTI crude oil rising by 10.00% to $109.04 per barrel; Brent crude oil is currently up 8.8%.
BlackRock transferred 1,360 BTC and 15,103 ETH to Coinbase.
According to Onchain Lens, BlackRock transferred 1,360 BTC (approximately $90.28 million) and 15,103 ETH (approximately $30.82 million) to Coinbase today, for a total value of approximately $121 million.
The People's Bank of China has added 12 new digital RMB business operators.
The People's Bank of China announced the addition of CITIC Bank, China Everbright Bank, Huaxia Bank, China Minsheng Bank, Guangdong Development Bank, Shanghai Pudong Development Bank, Zhejiang Commercial Bank, Ningbo Bank, Jiangsu Bank, Bank of Beijing, Bank of Nanjing, and Bank of Suzhou as operating institutions for digital RMB business, and they will be connected to the central bank's digital RMB system. The newly added institutions will commence digital RMB business after completing business and technical preparations.
The dYdX community funded the DAO by using 10 million USDC from its insurance fund.
According to the dYdX Foundation, the community has passed Proposal No. 372, agreeing to allocate 10 million USDC from the Insurance Fund to fund the DAOs, with 2.5 million allocated to Operations SubDAO, 5 million to Treasury SubDAO, and 2.5 million to the dYdX Foundation. The proposal received a 66.34% vote, with 77.96% voting in favor. The proposal states that after the allocation, the Insurance Fund will retain approximately 7 million USDC as a protocol safety buffer.
Safe, a non-custodial multisignature wallet provider, has launched Safenet, a decentralized transaction security network. SAFE holders can delegate their tokens to six independent validators (including Greenfield, Gnosis, Safe Labs, Rockaway, Blockchain Capital, and Core Contributors GmbH) to review proposed transactions according to preset security rules. Upon approval, the validators issue cryptographic proofs, which, along with the Safe Guard module, prevent the execution of unverified transactions. Each genesis validator must stake at least 3.5 million SAFE, marking SAFE's expansion from a governance token to a staking asset with economic uses. Specific staking rewards, penalties, and fee mechanisms are still pending a vote by SafeDAO.
