Odaily News At the first roundtable of the Cryptocurrency Working Group, SEC Acting Chairman Mark Uyeda hinted at the possibility of adopting a “regulatory sandbox” model for companies that trade tokenized securities, whether registered or unregistered.

Trump kills DeFi broker rule in major crypto win: Finance Redefined, April 4–11 In a significant win for decentralized finance (DeFi) protocols, US President Donald Trump overturned the Internal Revenue Service’s DeFi broker rule, which would have expanded existing reporting requirements to include DeFi platforms. Increasing US crypto regulatory clarity will attract more tech giants to the space, requiring existing crypto projects to focus on more collaborative tokenomics to survive, according to Cardano founder Charles Hoskinson. Trump signs resolution killing IRS DeFi broker rule Trump signed a joint congressional resolution overturning a Biden administration-era rule that would have required DeFi protocols to report transactions to the Internal Revenue Service. Set to take effect in 2027, the IRS DeFi broker rule would have expanded the tax authority’s existing reporting requirements to include DeFi platforms, requiring them to disclose gross proceeds from crypto sales, including information regarding taxpayers involved in the transactions. Trump formally killed the measure by signing off on the resolution on April 10, marking the first time a crypto bill has been signed into US law, Representative Mike Carey, who backed the bill, said in a statement. “The DeFi Broker Rule needlessly hindered American innovation, infringed on the privacy of everyday Americans, and was set to overwhelm the IRS with an overflow of new filings that it doesn’t have the infrastructure to handle during tax season,” he said. Continue reading Crypto needs collaborative tokenomics against tech giants — Hoskinson The next generation of cryptocurrency projects must embrace a more collaborative approach to compete with major centralized tech companies entering the Web3 space, according to Cardano founder Charles Hoskinson. Speaking at Paris Blockchain Week 2025, Hoskinson said one of the main criticisms of the crypto and DeFi space is its “circular economy,” which often means that the rally of a specific cryptocurrency is bolstered by funds exiting another token, limiting the growth of the whole industry. Hoskinsin said that to have a chance against the centralized technology giants joining the Web3 industry, cryptocurrency projects need more collaborative tokenomics and market structure. Hoskinson on stage at Paris Blockchain Week. Source: Cointelegraph “The problem right now, with the way we’ve done things in the cryptocurrency space, is the tokenomics and the market structure are intrinsically adversarial. It’s sum 0,” said Hoskinson. “Instead of picking a fight, what you have to do is you have to find tokenomics and market structure that allows you to be in a cooperative equilibrium.” He argued that the current environment often sees one crypto project’s growth come at the expense of another rather than contributing to the sector’s overall health. He added that this is not sustainable in the face of trillion-dollar firms like Apple, Google and Microsoft, which may soon join the Web3 race amid clearer US regulations. Continue reading Bitcoin’s 24/7 liquidity: Double-edged sword during global market turmoil Bitcoin and other cryptocurrencies are often praised for offering around-the-clock trading access, but that constant availability may have contributed to a steep sell-off over the weekend following the latest US trade tariff announcement. Unlike stocks and traditional financial instruments, Bitcoin (BTC) and other cryptocurrencies enable payments and trading opportunities 24/7 thanks to the accessibility of blockchain technology. After a record-breaking $5 trillion was wiped from the S&P 500 over two days — the worst drop on record — Bitcoin remained above the $82,000 support level. But by Sunday, the asset had plummeted to under $75,000. Sunday’s correction may have occurred due to Bitcoin being the only large tradable asset over the weekend, according to Lucas Outumuro, head of research at crypto intelligence platform IntoTheBlock. “There was a bit of optimism last week that Bitcoin might be uncorrelating and fairing better than traditional stocks, but the [correction] did accelerate over the weekend,” Outumuro said during Cointelegraph’s Chainreaction live show on X, adding: “There’s very little people can sell on a Sunday because most markets are closed. That also enables the correlation because people are panicking and Bitcoin is the largest asset they can sell over the weekend.” Outumuro noted that Bitcoin’s weekend trading can also have upside effects, as prices often rally in calmer conditions. Continue reading Bybit recovers market share to 7% after $1.4 billion hack Bybit’s market share rebounded to pre-hack levels following a $1.4 billion exploit in February, as the crypto exchange implemented tighter security and improved liquidity options for retail traders. The crypto industry was rocked by the largest hack in its history on Feb. 21, when Bybit lost over $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH) and other digital assets. Despite the scale of the exploit, Bybit has steadily regained market share, according to an April 9 report by crypto analytics firm Block Scholes. “Since this initial decline, Bybit has steadily regained market share as it works to repair sentiment and as volumes return to the exchange,” the report stated. Block Scholes said Bybit’s proportional share rose from a post-hack low of 4% to about 7%, reflecting a strong and stable recovery in spot market activity and trading volumes. Bybit’s spot volume market share as a proportion of the market share of the top 20 CEXs. Source: Block Scholes The hack occurred amid a “broader trend of macro de-risking that began prior to the event,” which signaled that Bybit’s initial decline in trading volume was not solely due to the exploit. Continue reading Nearly 400,000 FTX users risk losing $2.5 billion in repayments Almost 400,000 creditors of the bankrupt cryptocurrency exchange FTX risk missing out on $2.5 billion in repayments after failing to begin the mandatory Know Your Customer (KYC) verification process. About 392,000 FTX creditors have failed to complete or at least take the first steps of the mandatory Know Your Customer verification, according to an April 2 court filing in the US Bankruptcy Court for the District of Delaware. FTX users originally had until March 3 to begin the verification process to collect their claims. “If a holder of a claim listed on Schedule 1 attached thereto did not commence the KYC submission process with respect to such claim on or prior to March 3, 2025, at 4:00 pm (ET) (the “KYC Commencing Deadline”), 2 such claim shall be disallowed and expunged in its entirety,” the filing states. FTX court filing. Source: Bloomberglaw.com The KYC deadline has since been extended to June 1, giving users another chance to verify their identity and claim eligibility. Those who fail to meet the new deadline may have their claims permanently disqualified. According to the court documents, claims under $50,000 may account for about $655 million in disallowed repayments, while claims over $50,000 could amount to $1.9 billion, bringing the total at-risk funds to more than $2.5 billion. Continue reading DeFi market overview According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red. The EOS (EOS) token fell over 23%, marking the week’s biggest decline in the top 100, followed by the Near Protocol (NEAR) token, down over 19% on the weekly chart. Total value locked in DeFi. Source: DefiLlama Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

Odaily News Collins of the Federal Reserve said that historically we have had to use various tools quickly (to stabilize the market), and now if necessary, the Federal Reserve is absolutely ready to provide help to stabilize the market when necessary. (Jinshi)

Odaily News Market data shows that the three major U.S. stock indexes continued to rise, with the Nasdaq and SP 500 indexes increasing by 2% and the Dow Jones Industrial Average rising by nearly 2%. (Jinshi)

According to PANews on April 12, the OKX market showed that BTC had just broken through $84,000 and is now trading at $84,019.20 per coin, with a daily increase of 1.81%.

Odaily News OKX market shows that BTC has broken through 84,000 USDT and is now at 84,030 USDT, with a 24-hour increase of 5.87%. (This newsletter is generated by AI)

Regulators in Pakistan have proposed a regulatory framework for digital assets that is compliance-focused, in accordance with rules laid out by the Financial Action Task Force (FATF), the supranational organization that polices finance for money laundering, The Express Tribune reported. According to the report, Pakistan's Federal Investigation Agency (FIA) introduced the regulatory framework to address terrorism financing, money laundering provisions, and Know Your Customer (KYC) controls enforced by the supranational organization. The report cited FIA Director Sumera Azam as saying: "This is a paradigm shift in how Pakistan views digital finance. The policy proposal seeks to strike a historic balance between technological advancement and national security imperatives.” The proposed framework is subject to legislative approval and input from digital asset firms operating in the country, with an expected multi-phased rollout beginning in 2026. Regulators in Pakistan recently spearheaded a regulatory pivot embracing cryptocurrencies after being explicitly anti-crypto for years. The government's anti-crypto stance hit a crescendo in 2023 when Pakistani officials called for a country-wide ban on digital assets. Appointments to the Pakistan Crypto Council. Source: Bilal Bin-Saqib. Source: Bilal Bin-Saqib Related: Pakistan eyes crypto legal framework to boost foreign investment Pakistan embraces the future of money in regulatory shift In May 2023, former minister of state for finance and revenue, Aisha Ghaus Pasha said that Pakistan would never legalize cryptocurrencies due to the potential for digital assets to circumvent FATF regulations. Less than two years later in February 2025 the Finance Ministry of Pakistan signaled a seismic regulatory shift by forming the Pakistan Crypto Council to establish clear crypto regulations in the country and attract foreign investment. "Pakistan is a low-cost, high-growth market, with 60% of the population under 30. We have a web3 native workforce ready to build," CEO of the Pakistan Crypto Council Bilal bin Saqib said in a March 20 X post. Binance co-founder Changpeng Zhao meets with Pakistan foreign minister Ishaq Dar. Source: Pakistan’s Ministry of Foreign Affairs The Council is exploring using excess energy to mine Bitcoin (BTC) as part of a broader effort to turn Pakistan into an international hub for crypto mining. On April 7, the Council appointed Binance co-founder Changpeng Zhao as a crypto adviser to guide the organization's policy efforts. Magazine: How crypto laws are changing across the world in 2025

Odaily News Trumps meme coin TRUMP will usher in a large-scale token unlocking next week, unlocking 40 million tokens on April 18, and the project team will receive tokens worth $320 million, accounting for about 20% of the circulating supply. If the unlocked tokens are sold on the open market, the supply and liquidity ratio will be seriously unbalanced, which may lead to further pressure on prices. Since its launch on January 18, the price of TRUMP tokens has recently reached $7.14, and the current price is $8, and the value has shrunk by 83% from the high point. According to Dune data, the number of TRUMP token holders has dropped from 817,000 at the time of its initial launch to 637,000. Currently, only 12,000 wallets hold more than $1,000 TRUMP tokens, a significant reduction from 143,000 on January 19. Token unlocking is usually a bearish event, but sometimes the market digests expectations in advance, causing prices to fall to new lows before unlocking and rebound slightly after unlocking. It is not yet certain whether the Trump team will sell the unlocked tokens, but if they are sold on the open market, the price will be under short-term pressure. The 2% market depth indicator shows that the current liquidity level of $980,000 to $2 million cannot bear the selling pressure of $320 million. The meme coin craze is gradually dissipating, and the total market value of meme tokens has plummeted from $119 billion in December last year to the current $45 billion. (CoinDesk)

Odaily News According to Lookonchain monitoring, a whale continued to sell SOL to stop losses. In the past three days, the whale sold 274,188 SOL at an average price of $108, worth $29.64 million. The whales SOL holdings were transferred from OKX seven months ago, when the price was $148, and the whale lost nearly $11 million.

Odaily News U.S. consumer confidence has fallen sharply, with the latest survey by the University of Michigan showing consumer sentiment falling from 57.0 to 50.8, close to its lowest level in three years, and inflation expectations soaring to 6.7% over the next year. At the same time, investors have dumped U.S. government bonds and the dollar, causing gold prices to hit a record high of $3,240 per ounce. The cryptocurrency market performed well, with Bitcoin rising 4% to stabilize at $82,000, and mainstream tokens SOL and AVAX rising 6% each. Some analysts believe that market volatility is due to the withdrawal of highly leveraged market participants rather than fundamental changes. (CoinDesk)

Odaily News OKX market shows that PROMPT has risen above 0.47 USDT, with a 24-hour increase of 105%.

PANews reported on April 11 that pump.fun announced on the X platform that the "Pump Fun" live broadcast function has been launched to 100% of users, equipped with an industry-standard review system and transparent guidelines. This includes prohibiting and deleting live broadcasts containing hate speech, violence, nudity or other inappropriate content. pump.fun announced last week that it would resume the live broadcast function, but it was only open to 5% of users.

Odaily News According to Arkham monitoring data, about ten minutes ago, BlackRock increased its holdings of 4,238 ETH through its Ethereum exchange-traded fund ETHA Ethereum ETF, worth $6.6 million. Historical data shows that this suspected BlackRock-related Ethereum ETF increased its holdings of ETH for the first time in a month.

PANews reported on April 11 that according to official data from Lista DAO, the BNB vault deposits of its lending product Lista Lending have exceeded 190,000 BNB (worth approximately $111 million), and the loans have reached $55.44 million. In addition, its TVL has exceeded $1 billion.

Feds Williams: We believe that the current tariff outline is basically clear and inflation expectations have been consolidated. (Jinshi Data APP)

Odaily News According to official news, Lista DAOs lending product Lista Lending has been actively participated in the market after its official launch. At present, its BNB vault has more than 190,000 BNB participating in the supply, more than 92,000 BNB have been borrowed, and the real-time borrowing rate is as low as 0.78%. The product BNB vault now supports borrowing BNB with BTCB, solvBTC and PT-clisBNB as collateral, with a maximum loan amount of up to 52 million US dollars. Users can borrow BNB during the Binance Launchpool to participate in the Launchpool event.

PANews reported on April 11 that Coinglass data showed that in the past 24 hours, the cryptocurrency market had a total contract liquidation of $269 million, of which $122 million was for long orders and $147 million was for short orders. The total amount of BTC liquidation was $104 million, and the total amount of ETH liquidation was $60.8532 million.

According to PANews on April 11, according to Lookonchain monitoring, today 10 US Bitcoin ETFs had a net outflow of 2,359 BTC, of which Fidelity had an outflow of 938 BTC. It currently holds 196,041 BTC, worth US$16.06 billion; 9 Ethereum ETFs had a net outflow of 22,749 ETH, of which Fidelity had an outflow of 23,733 ETH. It currently holds 370,520 ETH, worth US$577 million.

Odaily News Feds Williams expects tariffs to push up inflation and curb economic growth, and said the Feds monetary policy stance is in the best position to manage these risks as best we can. He said, In times of uncertainty, consumers may delay making major decisions, such as buying a home or a car, and businesses may postpone investment until they have a better understanding of the future. When households and businesses cut spending, economic growth will slow. With February data showing that inflation was still above target, Williams said the Fed was right to keep interest rates at a level that moderately suppressed the economy. The current moderately tight monetary policy stance is entirely appropriate, he said. Williams also said: In times of turbulence and uncertainty, good long-term inflation expectations are essential to ensuring continued price stability. Maintaining inflation expectations is critical as we pursue our maximum employment goals and restore inflation to our long-term goal of 2%. (Jinshi)

PANews reported on April 11 that according to Jinshi, Fed's Williams expects that tariffs will push up inflation and curb economic growth, and said that the Fed's monetary policy stance is in "the best position to manage these risks as best we can." He said, "In times of uncertainty, consumers may postpone making major decisions, such as buying a house or a car, and businesses may postpone investment until they have a better understanding of the future." "When households and businesses cut spending, economic growth will slow." Since February data showed that inflation was still above target, Williams said it was right for the Fed to keep interest rates at a level that moderately suppressed the economy. "The current moderately tight monetary policy stance is entirely appropriate," he said. Williams also said: "In times of turbulence and uncertainty, good long-term inflation expectations are essential to ensuring continued price stability." "Maintaining inflation expectations is critical as we pursue our maximum employment goals and restore inflation to our long-term goal of 2%."