Summary
gm, Kraken, a major crypto exchange, launched FX perpetual futures for EUR/USD and GBP/USD pairs, expanding its offerings into traditional financial markets and targeting institutional traders. The DeFi Education Fund advocated for the implementation of a 'safe harbor' for token issuers, as originally proposed by SEC Commissioner Hester Peirce. Arbitrum introduced Timeboost, a new transaction prioritization mechanism that generated $2,491 in DAO revenue on its first day. Meanwhile, analysts warned of potential downward pressure on Bitcoin's price following disappointing US manufacturing data, although Bitcoin has shown relative stability compared to traditional assets. These developments highlight the ongoing convergence between crypto and traditional finance, as well as the industry's efforts to address regulatory challenges and improve blockchain infrastructure.

News Headlines
📊 Analysts Brace for Bitcoin Slide on Gloomy US Manufacturing Data

  • Bitcoin's value may decrease following a dismal US Federal Reserve report indicating a severe decline in manufacturing activity.
  • Despite recent losses, analysts assert that Bitcoin has shown resilience compared to other traditional assets during this economic uncertainty.

🌟 Magic Eden Unveils Season 2 of ME Token Rewards

  • Magic Eden launched Season 2 of its ME token rewards campaign, incentivizing user engagement on its platform.
  • The update includes a redesigned leaderboard and criteria for rewards based on staking power and trading volume.

⚖️ Coinbase Faces 'Copycat' Securities Lawsuit in Oregon

  • Oregon filed a lawsuit against Coinbase, alleging violations of state securities law for promoting unregistered cryptocurrencies.
  • This lawsuit follows reduced federal enforcement and reflects states' independence in pursuing legal action against crypto exchanges.

💼 Canary Capital Files for Tron ETF with Staking Capabilities

  • Canary Capital submits application for US spot ETF tracking Tron's TRX token, including staking features.
  • Move reflects potential shift in SEC's stance on staking in crypto ETFs under new leadership.

🏦 BIS Report Warns of Crypto's Impact on Wealth Gap and Financial Stability

  • Bank for International Settlements report highlights concerns over crypto adoption widening wealth inequality.
  • BIS urges stricter regulations, particularly for stablecoins, to ensure financial stability.

Market Metrics

Fundraising & VC
No fundraising data today.

On-chain Data
1. Safe (SAFE) token unlocked today ($4.74M, 1.98%)
2. Space ID (ID) token unlock in 2 days ($2.38M, 1.28%)
3. MANTRA DAO (OM) token unlock in 3 days ($10.10M, 1.73%)
4. Renzo (REZ) token unlock in 3 days ($8.87M, 30.05%)

Regulatory
🚔 US Prosecutors Pursue SafeMoon CEO Case Despite DOJ Memo

  • US prosecutors continue case against ex-SafeMoon CEO Braden John Karony despite DOJ memo suggesting reduced crypto enforcement.
  • Karony faces charges including securities fraud and money laundering conspiracy, with trial set to begin in May 2025.

💰 Brazilian Court Sentences Three in $190M Bitcoin Ponzi Scheme

  • Three men sentenced to a combined 170 years for Braiscompany Ponzi scheme that defrauded 20,000 investors of $190 million.
  • Court orders defendants to repay $6.2 million to investors, marking Brazil's largest cryptocurrency fraud case.

🏦 MoonPay CEO Urges Congress to Maintain State Authority Over Stablecoins

  • MoonPay CEO Ivan Soto-Wright calls on US lawmakers to preserve state-level regulatory options for stablecoins.
  • Concerns raised over proposed bills like SENATE GENIUS Act potentially favoring federally permitted issuers over state-regulated ones.

⚖️ Slovenia Proposes 25% Tax on Crypto Profits

  • Slovenia's finance ministry draft law proposes 25% tax on crypto capital gains, effective 2026.
  • Tax aims to align crypto with other capital investments, estimated to generate €2.5-25 million annually.

🔍 DOJ Shifts Crypto Enforcement Approach

  • DOJ disbands National Cryptocurrency Enforcement Team, moves away from "regulation by prosecution".
  • Memo clarifies DOJ won't impose regulatory frameworks on crypto, leaving regulation to other agencies and Congress.

Technical Analysis
Bitcoin - Bitcoin has broken the ceiling of the falling trend in the short term, which indicates a slower initial falling rate. The currency is between support at points 84000 and resistance at points 87300. A definitive break through of one of these levels predicts the new direction. The currency is assessed as technically slightly negative for the short term.

Ethereum - Ethereum is in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Ethereum. The currency has support at points 1420 and resistance at points 1860. The currency is assessed as technically negative for the short term.

Governance & Code
👻 Aave DAO | a.DI/Governance - Enable Support for Mantle (Preliminary Discussion)
- This proposal aims to activate the necessary a.DI and governance infrastructure for the Manle network.

🦋 Morpho DAO | Approve Review of 2024 Contributor Grants (Preliminary Discussion)
- This proposal aims to approve the distribution of 5,805,218 MORPHO in contributor grants related to contributions made over the course of 2024, including the deployment of Morpho Blue and Morpho Vaults and the scalable rewards stack on Ethereum and Base, a new version of the frontend application, the new offchain/API/SDK stack, and updates to the documentation and landing page.