Odaily News Cai Fengyi, executive director of the investment products department of the Hong Kong Securities and Futures Commission, said today at the Hong Kong Web 3 Carnival that the Hong Kong Securities and Futures Commission will issue a circular today to allow licensed virtual asset trading platforms to provide pledge services, including pledging for virtual asset spot ETFs. Pledges allow investors to lock their virtual assets to support blockchain networks and earn returns, but due to the risks involved, the Securities and Futures Commission will implement additional safeguards, including requiring licensed platforms to keep pledged virtual assets and setting an upper limit on the proportion of virtual asset spot ETFs that can be pledged to manage liquidity risks. Cai Fengyi also said that the Hong Kong Securities and Futures Commission is expanding the scope of eligible virtual asset targets. Initially, virtual asset spot ETFs focused mainly on Bitcoin and Ethereum. Now that more virtual assets have met the conditions for retail trading on licensed platforms, they will pave the way for the diversification of ETF products, such as a single ETF that tracks a basket of virtual assets.

PANews reported on April 7 that the Hong Kong Securities and Futures Commission officially issued pledge-related guidelines for licensed virtual asset trading platforms and approved virtual asset funds, which stated that licensed virtual asset trading platforms are allowed to provide pledge services, including providing pledges for virtual asset spot ETFs. Pledges allow investors to lock up their virtual assets to support blockchain networks and earn returns, but due to the risks involved, the Securities and Futures Commission will implement additional safeguards, including requiring licensed platforms to keep the pledged virtual assets and setting an upper limit on the proportion of virtual asset spot ETFs that can be pledged to manage liquidity risks. Cai Fengyi, executive director of the investment products department of the Hong Kong Securities Regulatory Commission, said that the Hong Kong Securities Regulatory Commission is expanding the scope of eligible virtual assets. Initially, virtual asset spot ETFs mainly focused on Bitcoin and Ethereum. Now more virtual assets have met the conditions for retail trading on licensed platforms, which will pave the way for the diversification of ETF products, such as a single ETF that tracks a basket of virtual assets.

Odaily News According to data analyst Ali’s monitoring, 76 new addresses holding more than 1,000 bitcoins were added in the past two months, an increase of 4.6%, indicating that institutional demand for Bitcoin continues to rise.

Odaily News According to on-chain analyst ai_9684xtpa, the ETH whale facing liquidation risk urgently sold 3,920 ETH in exchange for 5.77 million DAI and repaid the loan less than 20 minutes before liquidation. At present, it has cumulatively pledged 53,074 ETH and lent 46.67 million DAI. The liquidation price has dropped to $1,495.17, temporarily alleviating the risk.

According to PANews on April 7, according to Lookonchain monitoring, the giant whale "traderpow" sold 309,514 TRUMP tokens at a price of US$2.63 million about 11 hours ago, with a cumulative loss of US$14.06 million.

Odaily星球日报讯 据 Lookonchain 监测，巨鲸“traderpow”在 11 小时前以 263 万美元的价格抛售了 309,514 枚 TRUMP，累计亏损达 1406 万美元。

Odaily News Recently, Sheldon Xia, founder and CEO of BitMart, was interviewed by Forbes, reviewing BitMarts seven-year growth and outlook for the future development of the crypto industry. Since its establishment in 2017, BitMart has become the worlds leading digital asset trading platform, serving more than 10 million users and an annual trading volume of 3 trillion US dollars. Sheldon said that BitMarts goal is to become the gateway to Web3 and promote a decentralized future. The company is accelerating its expansion in the European, Middle East, North Africa and Latin American markets, and investing in a new generation of trading systems and artificial intelligence tools to enhance user experience and security. In addition, BitMart continues to strengthen multi-layer security protection to ensure the safety of user assets, and will continue to lead industry innovation.

According to PANews on April 7, the OKX market showed that BTC had just fallen below $77,000 and is now trading at $76,996.00 per coin, down 6.73% on the day.

Odaily News A whale has deposited 1,000 BTC (worth $77.58 million) into Binance and another 354.34 BTC (worth $27.49 million) into a new wallet, and is currently facing a loss of $9.04 million. Three weeks ago, the whale withdrew 1,354.34 BTC (worth $115 million) from Coinbase Custody.

Odaily News Crypto-friendly billionaire Mark Cuban launched a survey on the X platform, Who is more beneficial to the US economy: Musk who supports free trade vs. Trump who supports tariffs. The survey has now ended, and the results show that among nearly 50,000 people who voted, 72.2% believed that Musk who supports free trade is more beneficial to the US economy.

Odaily News OKX market data shows that BTC fell below 77,000 USDT and is now at 76,978.3 USDT, a 24-hour drop of 7.59%. (This newsletter is generated with the assistance of AI)

Odaily News KrassenCast founder Ed Krassenstein revealed on the X platform that Trump adviser Peter Navarro publicly criticized Elon Musk on Fox News, Its interesting to hear Musk talk about establishing a zero-tariff zone with Europe. He doesnt understand the ins and outs of this at all. And I think the key thing the public needs to understand is that Musk is essentially a car salesman, and this is his core identity.

Odaily News Klein Labs recently released The Truth of Liquidity: 2024 Trading Platform Listing Effect Research Report, analyzing the price performance of major mainstream exchanges after spot listing. From the average price performance of the tokens 7 days after listing, the average price performance of 60 currencies listed on Binance was +12.9%, the average price performance of 64 currencies listed on OKX was +10.9%, and the average performance of 360 currencies listed on Bitget was +10.4%, ranking the top three among the mainstream exchanges. The average price performance of exchanges such as Coinbase, Upbit, and Kraken was negative.

PANews reported on April 7 that Binance announced that it will suspend the deposit and withdrawal of Syscoin (SYS) network tokens at 07:30 (Eastern Time) on April 8, 2025 to support its network upgrade and hard fork at block height 2,010,345. The upgrade is expected to be completed at 08:30 on April 8.

Odaily星球日报讯 LBank 行情显示：PT 上涨突破 0.006USDT，最高触达 0.006USDT，现报价 0.001USDT，24H 涨幅为 360%，自上线 LBank 以来，目前最大涨幅已达 785%，当前市值约为 100 万美元。 RFC 上涨突破 0.027USDT，最高触达 0.0277USDT，现报价 0.0271USDT，24H 涨幅为 108%，自上线 LBank 以来，目前最大涨幅已达 1,973%，当前市值约为 2,710 万美元。

PANews reported on April 7 that according to SoSoValue data, the total market value of the crypto market fell by 8.18% today, and mainstream sectors fell by 4%-12% due to the panic caused by the news of "reciprocal tariffs". ETH plummeted by 11.71%, falling below $1,600, wiping out the gains of 18 months; BTC fell by 5.11%, and once fell below $78,000 during the session. Layer1, Layer2, DeFi, Meme and other sectors fell significantly, with SOL, ADA, and UNI all falling by more than 10%. DeFi and SocialFi indexes fell by 11.26% and 10.27% respectively in 24 hours.

Odaily News According to SoSoValue data, the crypto market suffered a heavy blow due to the market panic caused by reciprocal tariffs, with the total market value falling by 8.18%. The crypto sector generally fell by about 4% to 12% in 24 hours. Ethereum (ETH) fell by 11.71% in 24 hours, falling below the $1,600 mark, wiping out the gains of the past 18 months. Bitcoin (BTC) fell by 5.11%, and once fell below $78,000 during the session. In other sectors, the CeFi sector fell 4.95% in 24 hours. In the sector, Hyperliquid (HYPE) fell 9.30%; the Layer1 sector fell 7.74%, of which Solana (SOL) and Cardano (ADA) fell 10.95% and 10.46% respectively; the Layer2 sector fell 8.92%, the PayFi sector fell 9.75%, and XRP fell 10.04%; the DeFi sector fell 10.27%, Chainlink (LINK) and Uniswap (UNI) fell 11.41% and 11.91% respectively; the Meme sector fell 10.35%. In addition, the crypto sector index, which reflects the historical market conditions of the sector, shows that ssiDeFi, ssiMeme, and ssiSocialFi fell 11.26%, 10.49%, and 10.27% in 24 hours respectively.

PANews reported on April 7 that according to SoSoValue data, Bitcoin spot ETFs had a net outflow of $173 million last week. Among them, Grayscale GBTC had a net outflow of $95.48 million, the largest outflow product, with a cumulative outflow of $22.62 billion; WisdomTree BTCW had a net outflow of $44.53 million. In contrast, Grayscale Mini Bitcoin Trust BTC had a net inflow of $34.28 million against the trend. Currently, the total net asset value of Bitcoin spot ETFs has reached $94.45 billion, accounting for 5.65% of the BTC market value, with a cumulative net inflow of $36.07 billion.

Odaily News According to SoSoValue data, last weeks trading day (March 31 to April 4, Eastern Time), Bitcoin spot ETFs had a net outflow of $173 million last week. The Bitcoin spot ETF with the largest weekly net inflow last week was Grayscale Bitcoin Mini Trust ETF BTC, with a weekly net inflow of $34.28 million, and the current total net inflow of BTC is $1.15 billion. The Bitcoin spot ETF with the largest weekly net outflow last week was Grayscale Bitcoin ETF GBTC, with a weekly net outflow of $95.48 million, and the current total net outflow of GBTC is $22.62 billion. The second is WisdomTree ETF BTCW, with a weekly net outflow of $44.53 million, and the current total net inflow of BTCW is $49.42 million. As of press time, the total net asset value of the Bitcoin spot ETF was US$94.45 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) was 5.65%, and the historical cumulative net inflow has reached US$36.07 billion.

PANews reported on April 7 that according to SoSoValue data, the Ethereum spot ETF had a net outflow of $49.93 million last week (March 31 to April 4), and has recorded net outflows for six consecutive weeks. Among them, Grayscale ETHE had a net outflow of up to $31.08 million, BlackRock ETHA had a net outflow of $20.17 million, and Fidelity FETH had a net inflow of $6.42 million against the trend. As of now, the total net asset value of the ETF is $6.16 billion, accounting for 2.8% of the total market value of ETH, and the historical cumulative net inflow has reached $2.36 billion.