Rhythm Morning News | Market pricing shows that the first interest rate cut by the Federal Reserve has been postponed to November; the US SEC issued

Featured News:

1. The U.S. SEC issued a warning to Uniswap Labs and may take enforcement action

2. The U.S. Bitcoin spot ETF had a net inflow of US$124 million yesterday

3. Swap market pricing shows that the Fed’s first interest rate cut has been postponed from September to November

4. CZ’s new project Giggle Academy will launch a Beta version, and the waiting list has been opened

5. L1 network Canto launches over-collateralized stablecoin NOTE, which is supported by tokenized short-term U.S. Treasury bonds

Price Observation

Bitcoin rebounded and briefly broke through US$71,000, with a 24-hour increase of 2.45%

April On April 11, according to OKX market data, Bitcoin rebounded to break through $71,000 for a short time, and is now quoted at $70,643, a 24-hour increase of 2.45%.

Ethereum briefly rebounded to above $3,500

On April 11, according to OKX market information, Ethereum briefly rebounded to above $3,500, and is now quoted at $3,497.

Affected by the market volatility and the news of "SEC warning", UNI fell more than 14% in 24 hours.

On April 11, according to OKX market data, affected by the market volatility and the news of "SEC warning", UNI fell more than 14% in 24 hours and is now quoted at US$9.64.

BlockBeats previously reported that the U.S. Securities and Exchange Commission (SEC) issued a warning to Uniswap on Wednesday that it planned to take enforcement action against the company. The warning was issued in the form of a "Wells Notice", which the U.S. Securities and Exchange Commission sends to a company before initiating formal litigation, providing the company with a last chance to refute any allegations. The specific nature of the SEC's allegations against Uniswap Labs is not yet known.

BNB breaks through $600, with a 24-hour increase of more than 4%

On April 11, according to OKX market information, BNB broke through $600 and is now quoted at $603.39, with a 24-hour increase of 4.6%.

ENA briefly broke through $1.5, setting a new record

On April 11, according to market information, ENA briefly broke through $1.5 and then fell back, and is now quoted at $1.489, setting a new record.

MUBI rose above $0.17, up 25.8% in 24 hours

On April 11, according to Bitget market data, MUBI rose above $0.17 and is currently quoted at $0.175, up 25.8% in 24 hours.

Bitcoin may fall by more than 1% in a short period of time due to the impact of the US CPI data in March

On April 10, according to OKX market information, Bitcoin may fall by more than 1% in a short period of time due to the impact of the US CPI data in March, and is now reported at US$68,239.

Transaction Tracking

In the past 24 hours, the entire network has been liquidated for US$270 million

On April 11, according to Coinglass data, the entire network had a liquidation of $270 million in the past 24 hours, of which long orders had a liquidation of $168 million and short orders had a liquidation of $102 million.

A MEME market-making address transferred 22 million MEME to Binance 9 hours ago

On April 11, according to on-chain data analyst @ai_9684xtpa, a MEME market-making address transferred 22 million MEME (about $920,000) to Binance 9 hours ago. The address still holds 273 million MEME, worth $11.56 million.

Smart Trader starting with 0x335 deposited 1.25 million UNI into Binance in the past hour

On April 11, according to Spot on Chain monitoring, Smart Trader starting with 0x335 deposited 1.25 million UNI (approximately 12.05 million US dollars) into Binance through 2 addresses in the past hour, with an average price of 9.66 US dollars. If sold, a profit of 4.23 million US dollars (+54.7%) will be realized.

A whale withdrew $35.81 million worth of ETH from Binance

On April 10, according to @ai_9684xtpa monitoring, a whale withdrew $35.81 million worth of ETH from Binance 5 minutes ago.

It is reported that the whale accumulated 20,952 ETH from Binance from March 31 to April 10, with an average transfer price of $3,463.

Smart money that once made a profit of $3.49 million from trading PEPE is suspected of clearing out PEPE, CAKE, MANA and SAND

On April 10, according to @ai_9684xtpa's monitoring, smart money that once made a profit of $3.49 million from trading PEPE deposited all PEPE, CAKE, MANA and SAND tokens worth $4.74 million that had been built for a month into Binance 40 minutes ago. If all were sold, a profit of $320,000 would be made.

Grayscale transferred approximately 2,131 BTC to Coinbase Prime

On April 10, according to Arkham monitoring, Grayscale-associated addresses transferred approximately 2,131 BTC to Coinbase Prime, equivalent to approximately US$144 million.

A whale deposited 800 bitcoins to Binance 5 minutes after the CPI data was released

On April 10, according to Lookonchain monitoring, a whale deposited 800 bitcoins to Binance 5 minutes after the CPI data was released, worth about $54.6 million. Yesterday, the address also deposited 800 bitcoins to Binance, after which Bitcoin fell by about 4%.

The address currently holds 13,665 BTC (worth about $928.6 million).

Project Dynamics

CZ's new project Giggle Academy will launch a Beta version, and the waiting list has been opened

On April 11, according to official news, CZ's new education project Giggle Academy will launch a beta version, and the waiting list is now open.

BlockBeats previously reported that CZ said in March that it would launch an education project called Giggle Academy. This project aims to provide free basic education for students from grade 1 to grade 12. The core concepts include non-profit purposes, gamified learning experience and adaptive education mechanisms. At the end of March, it was announced that Giggle Academy already had a fully remote team of 10 people (including part-time and full-time). Project recruitment is still in progress, and the initial plan is to form a team of 15 people

Jupiter founder: major upgrades will be carried out to solve the problems currently facing Jupiter

On April 11, Jupiter founder @weremeow posted on social media that in the past few months, the Jupiter team has been working hard behind the scenes to carry out a series of infrastructure, process and user experience upgrades to expand and strengthen the countless systems running Jupiter. The recent series of problems are rooted in Solana network congestion, spam at RPC endpoints, a surge in the number of tokens, and a large number of spam tokens with duplicate names. To this end, the team is carrying out major upgrades to solve this series of problems.

The founder of Marginfi announced his departure from the team, saying he was not concerned about legal disputes over tokens and money

On April 11, Edgar Pavlovsky, founder of Solana's ecological margin agreement Marginfi, posted on social media that he had resigned from the Marginfi team. Edgar admitted that Marginfi is a world-class team, but he personally disagrees with the way things are done inside or outside the team. Edgar expressed his hope to devote his energy to work that he believes is important to society.

At present, lawyers are still resolving the issue (of the founder's departure), but Edgar himself has told everyone involved that he personally does not really care about tokens, money or anything else. Even though his recent financial situation has been poor and his personal income has almost returned to zero. However, Edgar currently has no plans for the next step.

Solend: Will airdrop to users who withdraw from Marginfi and deposit into Solend

On April 11, Solana Ecosystem Lending Protocol Solend posted on social media that the project will airdrop to users who withdraw from Marginfi and deposit into Solend. The specific amount of airdrops will be proportional to the USD value transferred by the user, and the funds must be stored for a period of time to be eligible. More details will be shared soon.

NEAR plans to hire AI engineers and will release "near.ai" related announcements in May

On April 11, according to Coindesk, Layer 1 blockchain NEAR plans to hire artificial intelligence engineers, and its product team is working hard to plan artificial intelligence workflows for the 3-6 month transition phase. Earlier today, NEAR co-founder Illia Polosukhin and NEAR core employees presented the platform through a virtual meeting. According to the slides at the meeting, NEAR will use near.ai to present artificial intelligence information and will release an external announcement in May.

Arkham and Wormhole have reached a cooperation, and the address tags will be integrated into Wormholescan

On April 11, according to official news, Arkham and Wormhole have reached a cooperation. Arkham will use Wormhole's messaging protocol to implement the token transfer of Arkham Intel Exchange, starting with the transfer between Ethereum and Solana. Arkham address tags will be directly integrated into the Wormhole ecosystem browser Wormholescan, providing better transaction visibility and analysis for Arkham and Wormholescan users.

L1 Network Canto Launches Overcollateralized Stablecoin NOTE, Backed by Tokenized Short-Term U.S. Treasuries

On April 11, L1 Network Canto announced the launch of the stablecoin NOTE to ensure economic stability in DeFi.

It is reported that NOTE is supported by RWA (tokenized short-term U.S. Treasury bonds) and is an over-collateralized stablecoin. Each NOTE has more than $1 in collateral. NOTE cannot be issued, but can only be lent. The interest on loans is managed by the smart contract "accountant", and the interest rate will automatically adjust according to the market price of NOTE to maintain price stability. All interest income will be deposited in the community treasury for public welfare and controlled by Canto governance. This move demonstrates Canto's commitment to DeFi, namely providing accessibility, transparency and decentralization.

Five executives and marketing team members of Metaco, Ripple's crypto custody company, have left

On April 10, CoinDesk reported that Metaco, Ripple's crypto custody company, lost five more executives and marketing team members after its CEO and chief product officer left in February.

People familiar with the matter revealed that Metaco's chief technology officer and chief customer officer Angel Nunez, sales director Craig Perrin, marketing manager Mei Li Powell, product marketing director, and marketing officers Gene Peterson and Rahul Mudgal have also left the company.

EthSign's full-chain verification protocol Sign Protocol has been launched on Berachain

On April 10, according to official news, EthSign's full-chain verification protocol Sign Protocol has been launched on Berachain.

EthSign is an attestation application where users can prove their agreement to on-chain documents and sign everything on-chain.

Mysten Labs launches Enoki, a SaaS product that helps enterprises integrate blockchain into their services

On April 10, Sui developer Mysten Labs announced the launch of Enoki, a SaaS product that helps enterprises seamlessly integrate the rich environment of blockchain into their services.

Powered by Sui Network, Enoki helps enterprises: provide embedded wallets so that customers truly own their assets; access open data layers to support engagement strategies across multiple channels; build solutions using APIs and SDKs - no new languages required.

The initial features of Sui provided by Enoki include: zkLogin for frictionless account creation; Enoki Gas Pool for sponsoring transactions and reducing the funding requirements on wallets; SuiNS, which provides human-readable account names for end users.

Sushi DAO financial proposal passes preliminary signal vote with 62.5% support

On April 10, a financial proposal of Sushi DAO passed in the initial signal vote, which proposed to transfer more than $40 million of DAO-controlled financial assets to a new vault managed by Sushi Labs.

It is reported that this vote received 62.5% support and is currently undergoing implementation voting, which is expected to end on April 17.

AltLayer: EigenDA Operator is now live on the mainnet

On April 10, according to official news, AltLayer announced that EigenDA Operator has been launched on the mainnet, and will support the newly launched EigenDA mainnet by configuring operators run and managed by AltLayer. Delegators are currently being invited to participate and delegate ETH and LST to operators to contribute to the security, stability and performance of EigenDA.

Ethena announced the integration of CEX Web3 wallets such as Binance, Bybit, OKX and Bitget

On April 10, Ethena Labs announced the integration of CEX Web3 wallets such as Binance, Bybit, OKX and Bitget. Users who lock USDe through these CEX's Web3 wallets for at least 7 days will be eligible for a 20% reward increase from today. This 20% boost will not stack with other rewards such as the 50% ENA boost or the 20% loyalty boost in the first quarter.

Crypto staking service provider P2P.org launches staking as a service (SaaB) model for institutions

On April 10, cryptocurrency staking service provider P2P.org announced the launch of a staking as a service (SaaB) model for institutions, aiming to help platforms such as CEX, wallet providers and custodians add staking and decentralized finance (DeFi) services and expand growth avenues.

The company said that more than 1 million ETH have been staked and the total value locked has exceeded US$7.4 billion. Institutional staking allows investors to use assets to earn passiv income without having to sell them. P2P.org's SaaB model provides full support, including marketing, legal and sales support.

Last year, P2P.org received $23 million in financing from crypto industry investors such as Jump Crypto. (CoinDesk)

Mysten Labs is working with open operating system company Playtron to develop an open game handheld

On April 10, Mysten Labs announced that it is working with open operating system company Playtron to launch an open game handheld. It is reported that the handheld has multiple game stores built in, including Sui Web3 Game and Epic Games Store.

Mysten Labs Chief Product Officer Adeniyi Abiodun said in an interview that SuiPlay 0x1 will be the first handheld game console with native Web3 functions and will be available in stores around the world from 2025. (GamesBeat)

MYX "Ordovician" airdrop event started, a total of 23 million tokens will be distributed within six weeks

On April 10, the MYX project announced the launch of the second phase of the "Ordovician" event of the origin plan. Previously, during the "Cambrian" event, MYX successfully distributed 20 million tokens, the number of transactions surged to 560,000, and achieved a transaction volume of 10 billion, with a capital efficiency of up to 60 times.

The "Ordovician" event will last from April 10 to May 22, and it is expected that a total of 23 million MYX will be airdropped, accounting for 2.3% of the total. Among them, 20 million will be used to incentivize this event and 3 million will be used for BMYX airdrop incentives. The event is divided into four phases. The first phase is called "Voyage", which will last for one week and will airdrop 0.4% of the tokens.

As a third-generation innovative DEX, MYX adopts a unique MPM mechanism that enables LPs to support hundreds of times the transaction volume and achieve zero slippage transactions. Previously, MYX announced the launch of the token airdrop "Origin Plan", which will use 20% of the total tokens for airdrops. MYX's seed round of financing was led by HongShan, with participation from Consensys, Hack VC, OKX Ventures, Foresight Ventures, Redpoint China, HashKey Capital, GSR Markets, etc.

CeFi News

Tether announced a partnership with Philippine crypto trading platform Coins.ph to launch a blockchain education program

On April 10, Tether announced a partnership with Philippine crypto trading platform Coins.ph to launch a blockchain education program. In addition, the two parties will work together to promote financial education in blockchain technology, Bitcoin and stablecoins.

Coinbase adds Apple Pay as a payment option in the UK

On April 10, Daniel Seifert, Coinbase's UK country director and vice president of Europe, the Middle East and Africa, announced that Coinbase's UK users can now use Apple Pay as a payment option.

It is reported that the UK is Coinbase's second largest market, with more than 6 million British adults already owning cryptocurrencies. Coinbase's move is aimed at further increasing participation in the digital asset market.

Bitget PoolX is about to launch the mining project DMTR, pledge BGB and USDT to participate in mining

On April 10, Bitget PoolX is about to launch a new mining project DMTR. This round of PoolX will open BGB and USDT prize pools. The total BGB prize pool is 279,000 DMTR, and the upper limit of individual pledge is 10,000 BGB; the total USDT prize pool is 279,000 DMTR, and the upper limit of individual pledge is 10,000 USDT. The opening time of this round of PoolX is from 16:00 on April 12 to 16:00 on April 22 (UTC+8).

PoolX is a new staking mining platform launched by Bitget. You can stake designated currencies and earn popular tokens. Each period of PoolX will have one or more staking mining pools, and tokens will be distributed every hour according to the proportion of user stakes. The current mining project DMTR is the token that supports the Dimitra agricultural ecosystem.

Viewpoint Data

Base Network TVL exceeds 5.3 billion US dollars, setting a new record high, with a 7-day increase of 11.59%

On April 11, according to L2BEAT data, Base network TVL rose to $5.37 billion, setting a new record high, with a 7-day increase of 11.59%.

US Bitcoin spot ETF had a net inflow of $124 million yesterday

On April 11, according to HODL15Capital data, US Bitcoin spot ETF had a net inflow of $124 million yesterday.

Marginfi TVL dropped by 17.59% in 24 hours, temporarily reported at US$662 million

On April 11, according to DeFiLlama data, the current TVL of Solana's ecological margin agreement Marginfi is US$662 million, a 24-hour drop of 17.59%. The TVL of the agreement is currently surpassed by Raydium ($670 million), but it still ranks fifth in the Solana ecosystem TVL.

BlockBeats previously reported that Marginfi founder Edgar Pavlovsky posted on social media that he had resigned from the Marginfi team and hoped to devote his energy to work that he believed was important to society. Lawyers are still working on the issue (of the founder leaving the team), but Edgar has told everyone involved that he personally doesn't really care about tokens, money, or anything else.

Fidelity FBTC had a net inflow of $76.3 million yesterday, and the ETF as a whole had a net inflow of $90.4 million

On April 11, according to Farside Investors data, Fidelity FBTC had a net inflow of $76.3 million yesterday. Although BlackRock IBIT's data is still unpublished, with GBTC's net outflow hitting a new low, the U.S. Bitcoin spot ETF had a net inflow of $90.4 million yesterday.

GBTC's net outflow yesterday was only $17.5 million, setting a record low

On April 11, according to Farside Investors data, GBTC's net outflow yesterday was only $17.5 million, setting a record low for a single day's net outflow since its conversion to a spot ETF.

Currently, although only Fidelity FBTC (+$24.3 million) and ARK's ARKB (+$7.3 million) have released yesterday's data, the U.S. Bitcoin spot ETF has recorded an overall net inflow of $14.1 million yesterday.

Informed sources: Brevan Howard's cryptocurrency fund returned 34.5% in the first quarter

On April 10, Bloomberg reported, citing people familiar with the matter, that Brevan Howard's cryptocurrency fund Brevan Howard Digital had a return of 34.5% in the first quarter, with total assets under management of $1.7 billion.

BlockBeats previously reported that in early April, BH Digital and Mike Novogratz's Galaxy Digital jointly invested $20 million in cryptocurrency accelerator Alliance Fund III.

European Securities and Markets Authority: EU MiCA may boost potential growth of cryptocurrencies

On April 10, the European Securities and Markets Authority said that although MiCA will come into effect at the end of the year, it has not yet promoted an increase in cryptocurrency euro trading, but this may become a potential growth driver because it aims to strengthen investor protection. Since the formal legislation of the regulation last year, the level of cryptocurrency transactions denominated in euros has remained stable at around 10%. (Coindesk)

Multiple Bitcoin NFT projects started minting, and the best network fee is now 74 Satoshi/vbyte

On April 10, according to BTC.com data, the current best fee of the Bitcoin network is 74 Satoshi/vbyte.

Today, multiple Bitcoin NFT projects started minting, including RMM, Ambbi, cat21 and feelng good.

Independent financial advisory firm Signal Advisors holds more than 20,000 shares of BlackRock Spot Bitcoin ETF

On April 10, according to Bitcoin Magazine, independent financial advisory firm Signal Advisors held 20,571 shares of BlackRock Spot Bitcoin ETF in a document reported to the U.S. Securities and Exchange Commission.

Data: US ETF investors hold 4.3% of the circulating supply of Bitcoin

On April 10, according to HODL15Capital statistics, US ETF investors currently hold 838,730 Bitcoins, accounting for 4.3% of the circulating supply of Bitcoin.

In addition, if the number of Bitcoins that have not been moved in the past three years (9,650,000) is excluded, US ETF investors account for 8.4%.

Swap market pricing shows that the Fed's first rate cut has been postponed from September to November

On April 10, swap market pricing showed that the Fed's first rate cut was postponed from September to November. (Jinshi)

The annual rate of US CPI hit a six-month high, and the possibility of the Fed's rate cut in June decreased

On April 10, the annual rate of US unadjusted CPI in March was 3.5%, higher than the expected level of 3.4%, the highest level since September 2023.

Affected by this news, spot gold fell by $16 in the short term and is now at $2,333 per ounce. After the March CPI data, the swap market showed that the possibility of the Fed's rate cut in June decreased. (Golden October)

U.S. core CPI in March increased by 3.8% year-on-year, higher than expected

On April 10, the U.S. core CPI in March increased by 3.8% year-on-year, higher than the expected 3.7%.

Financing Express

Web3 social protocol Tomo completes $3.5 million seed round of financing, led by Polychain Capital

On April 11, Web3 social protocol Tomo announced the completion of a $3.5 million seed round of financing, led by Polychain Capital, with participation from Consensys, Symbolic Capital, OKX Ventures, Nomad Capital, Story Protocol, dao5, KuCoin Ventures and HTX Ventures.

At the same time, the platform also launched a new TomoID wallet feature and plans to transform its points reward system.

Decentralized derivatives trading platform Stream Trading completes $1.5 million seed round of financing, Polychain participates

On April 10, decentralized derivatives trading platform Stream Trading completed a $1.5 million seed round of financing with a valuation of $20 million, with Polychain participating.

Diogenes Casares, founder of Stream Trading, said that compared with other competitors, Stream Trading pays more attention to financing rates rather than swap fees.

Bitcoin Layer2 developer Alpen Labs completed $10.6 million in financing, led by Ribbit Capital

On April 10, Bitcoin Layer2 developer Alpen Labs completed $10.6 million in financing, led by Ribbit Capital, with Castle Island Ventures, Robot Ventures and Axiom Capital also participating in the investment.

It is reported that Alpen Labs is trying to expand the Bitcoin blockchain through zero-knowledge proof.

Bitcoin mining machine manufacturer Auradine completed $80 million in Series B financing, with Maverick Capital and others participating

On April 10, Bitcoin mining machine manufacturer Auradine completed $80 million in Series B financing, with Maverick Capital and others participating. This round of financing was participated in by StepStone Group, Top Tier Capital Partners, MVP Ventures, Maverick Capital, Celesta Capital, Mayfield Fund and Marathon Digital.

Founded in 2022, California-based Auradine launched its Teraflux bitcoin miner in November last year. Auradine co-founder and CEO Rajiv Khemani said the company initially hoped to raise $70 million, but ended up over-raising due to greater investor interest. It is reported that Auradine's Series B financing is also a mix of equity and debt, including $60 million in equity and $20 million in debt.

Khemani said there is strong demand for Teraflux bitcoin miners. "We have already achieved $80 million in reservations, and the order pipeline exceeds $200 million." BlockBeats previously reported that in May last year, Auradine completed an $81 million Series A financing, led by Celesta Capital and Mayfield, with participation from Cota Capital, DCVC and Stanford University.

Web3 AI startup Sapien completes $5 million seed round of financing, Primitive Ventures and Animoca participate

On April 10, Web3 AI startup Sapien completed a $5 million seed round of financing, with Primitive Ventures, Animoca, Ravikant Capital and Yield Guild Games participating. Sapien will use the funds to enhance its artificial intelligence to better guide and assist its data labeling. The funds will also be used to expand Sapien's blockchain infrastructure to build its manual labeling team.

Sapien uses rewards on the blockchain to essentially gamify data labeling, which is an indispensable process for advancing AI-driven language learning models such as OpenAI's Chat GPT. Data labeling involves marking text, images, and various types of files with labels, enabling machine learning models to interpret and learn from the data.

Regulatory News

The U.S. SEC issued a warning to Uniswap Labs and may take enforcement action

On April 11, fortune reported that the U.S. Securities and Exchange Commission (SEC) issued a warning to Uniswap Labs on Wednesday, planning to take enforcement action against the company.

It is reported that the warning was issued in the form of a "Wells Notice", which the U.S. Securities and Exchange Commission sends to a company before initiating a formal lawsuit, providing the company with a last chance to refute any allegations. The specific nature of the SEC's allegations against Uniswap Labs is not yet known.

Former FTX executive Ryan Salame will be sentenced on May 28

On April 10, The Block reported that former FTX executive Ryan Salame will be sentenced in a New York court on May 28 after pleading guilty to criminal charges. Ryan Salame pleaded guilty to conspiracy to make illegal political contributions and conspiracy to operate an unlicensed money transmitting business in September last year.

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