Summary
gm, Grayscale launched two new Bitcoin-focused ETFs, BTCC and BPI, utilizing covered call strategies to provide income opportunities linked to Bitcoin's price movements. Circle, the issuer of USDC stablecoin, filed for an IPO with the SEC, revealing a revenue of $1.67 billion for 2024. Meanwhile, Bitcoin's price surged to around $87,300 amid market uncertainty surrounding President Trump's announcement of new global tariffs. The crypto market also saw increased M&A activity, with Q1 2025 setting a record of 62 transactions. Lastly, concerns were raised about regulatory capture in Washington as lawmakers debated stablecoin legislation and the potential conflicts of interest involving the Trump family's crypto ventures.

News Headlines
💼 Fidelity Launches Crypto IRAs for Bitcoin, Ethereum, and Litecoin

  • Fidelity Investments now offers crypto IRAs allowing clients to invest in Bitcoin, Ethereum, and Litecoin for retirement savings.
  • The accounts have minimal fees, with only a 1% spread on transactions and no fees to open or maintain the accounts.

💹 Avalanche Projected to Outperform Bitcoin by 2029: Standard Chartered

  • Standard Chartered predicts Avalanche's AVAX token could reach $250 by 2029, a 1,326% increase from current prices.
  • The bank expects Bitcoin to rise to $500,000 in the same period, suggesting AVAX will significantly outperform BTC.

🌐 VanEck Files for BNB ETF, First of Its Kind in the US

  • VanEck has registered a new entity for a potential BNB (Binance Coin) ETF in Delaware, marking the first such filing in the US.
  • This move could enhance BNB Chain's integration into traditional financial markets if approved.

🛒 Sony Singapore Accepts USDC Payments Through Crypto.com

  • Sony's online store in Singapore now accepts USDC stablecoin payments via Crypto.com's payment system.
  • This move marks Sony's significant entry into cryptocurrency payments, potentially expanding to more options in the future.

💡 EY Upgrades Nightfall with Zero-Knowledge Technology

  • EY has upgraded its enterprise-focused Ethereum layer-2 blockchain, Nightfall, to a zero-knowledge rollup.
  • The upgrade eliminates waiting periods for transaction finality and simplifies the previous architecture.

Market Metrics

Fundraising & VC
1. Collecto (Seed, $3M) - Luxury goods investing platform
2. Hana Network (Private Token Sale, $1.75M) - Hyper-casual finance platform
3. Bloctopus (Pre Seed, $1M) - Enterprise-grade devops tool for web3 developers
4. bAI Fund (Undisclosed, $1M) - AI agent fund launched by Bulba Agent

On-chain Data
1. Wormhole (W) token unlocked today ($145M, 58.34%)
2. Immutable X (IMX) token unlock in 2 days ($4.97M, 0.58%)
3. Galxe (GAL) token unlock in 2 days ($2.82M, 2.35%)
4. Ethena (ENA) token unlock in 3 days ($110M, 6.3%)

Regulatory
🏛️ US House Committee Advances Stablecoin Bill Amid Trump Controversy

  • The House Financial Services Committee passed the STABLE Act, a framework for regulating stablecoins, with a 32-17 vote.
  • Democrats raised concerns about potential conflicts of interest involving former President Trump's crypto ventures.

💳 Kraken Secures Restricted Dealer Registration in Canada

  • Kraken has obtained a restricted dealer registration in Canada, strengthening its presence in the market.
  • This milestone allows Kraken to provide services to Canadian investors while managing over $2 billion in assets under custody.

🏦 BlackRock Obtains UK FCA Crypto Registration

  • BlackRock has successfully registered with the UK Financial Conduct Authority (FCA) for cryptocurrency activities.
  • This registration allows BlackRock to operate within the UK's regulatory framework for crypto assets.

🌐 SMBC, Ava Labs, Fireblocks Sign MoU for Stablecoin Framework in Japan

  • Sumitomo Mitsui Financial Group, TIS Inc, Ava Labs, and Fireblocks have entered an MoU to develop a stablecoin framework in Japan.
  • The collaboration aims to explore issuing stablecoins pegged to the US dollar and Japanese yen.

🛒 7-Eleven South Korea to Accept CBDC Payments in National Pilot Program

  • 7-Eleven in South Korea is participating in a pilot program to accept payments in the country's CBDC from April 1 to June 30.
  • Customers using CBDC will receive a 10% discount on all products during the pilot.

Technical Analysis
Bitcoin - Bitcoin shows weak development in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. The currency is testing resistance at points 84000. This could give a negative reaction, but an upward breakthrough of points 84000 means a positive signal. The RSI curve shows a falling trend, which supports the negative trend. The currency is overall assessed as technically negative for the short term.

Ethereum - Ethereum is in a falling trend channel in the short term. This shows that investors over time have sold at lower prices to get out of the currency, and indicates negative development for the currency. The currency has broken down through support at points 1860. This predicts a further decline. The currency is assessed as technically negative for the short term.

Governance & Code
📐 Paraswap DAO | ParaSwap Governance Task Force (Preliminary Discussion)
- This proposal aims to establish a formal Governance Facilitator role to be filled by SEEDGov for a one-year term.

👻 Aave DAO | BGD Request for Bounty Payout (March 2025) (Preliminary Discussion)
- This proposal requests $21,000 as bounty for two outstanding Aave <> Immunefi valid submissions, together with $2,100 as the fee to the Immunefi platform, amounting to a total of $23,100.