Crypto Morning Brief: Trump team weighing broader, higher tariff policies; major token unlocks for SUI, W, ENA, and others this week
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Crypto Morning Brief: Trump team weighing broader, higher tariff policies; major token unlocks for SUI, W, ENA, and others this week
Musk announces xAI's all-stock acquisition of X, with the new entity unified as XAI Holdings.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Goldman Sachs: Now Expects Fed Rate Cuts in July, September, and November
According to Jin10 News, Goldman Sachs now expects the Federal Reserve to cut interest rates in July, September, and November.
In addition, Goldman Sachs currently forecasts that this year’s core Personal Consumption Expenditures (PCE) growth will rise to 3.5%, up from its earlier projection of 3.0% based on lower tariff expectations.
The Wall Street Journal: Trump Team Weighing Broader, Higher Tariff Policy
According to The Wall Street Journal, the Trump team is discussing implementing broader and higher tariffs before the deadline, including potentially imposing a sweeping 20% tariff on all trading partners.
Market News: Trump Plans to Host El Salvador President at White House in April
According to Jin10 News, market sources indicate that U.S. President Trump plans to host El Salvador President Nayib Bukele at the White House in April.
Movement Co-Founder Responds to Coinbase Deposit: Transaction for Institutional Products, No Sale or Transfer
In response to crypto KOL Bingwa questioning Movement Labs’ deposit of 17.15 million MOVE tokens to Coinbase, Movement co-founder Rushi commented that this was a transaction related to upcoming institutional products (such as ETP/ETF) and corresponding loans, and these tokens will not be sold or transferred.
Sign: Will Release TGE-Related Information Within 48 Hours
The official Sign account posted on X, stating that TGE-related information will be released in approximately 48 hours, urging users to rely solely on official announcements. The operations intern account will go offline simultaneously.
Prior news: Sign, a token distribution blockchain infrastructure provider, raised $16 million in funding led by Yzi Labs.
Bitcoin Restaking Protocol PumpBTC Announces Airdrop Eligibility Checker Launch
According to official announcement from Bitcoin restaking protocol PumpBTC, the airdrop eligibility checker is now live. Users can visit the official website to check their eligibility and submit exchange UIDs and addresses to claim tokens after TGE. The exact airdrop allocation per address will be announced soon.
Last October, PumpBTC completed a $10 million seed round led by SevenX Ventures and Mirana Ventures.
Mining Firm MARA Plans $2 Billion ATM Equity Offering, Barclays and Other Institutions Participating
According to TheMinerMag, Bitcoin mining firm MARA may launch a $2 billion ATM (At-The-Market) equity offering. As disclosed in Friday’s regulatory filing, agreements were signed on March 28 with a banking consortium including Barclays, BMO Capital Markets, BTIG, Cantor Fitzgerald, Guggenheim Securities, HC Wainwright, and Mizuho Securities.
Vitalik Proposes "L2 Security and Finality Roadmap," Outlines Three Core Directions for Ethereum L2
Ethereum co-founder Vitalik Buterin published a long-form article titled "A Simple L2 Security and Finalization Roadmap," outlining three core directions for improving security and finality on Ethereum Layer 2 networks.
Vitalik noted that the current state of L2 security and finality is improving: we now have three rollups at Stage One; the Pectra upgrade will soon provide rollups with more blob space, followed by Fusaka 17 further increasing it. Meanwhile, an increasing number of high-quality ZK-EVM options are significantly shortening finality times. The next steps for Ethereum L2 development are:
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More Blobs
Increase blob space to six via the Pectra upgrade, then expand to 72 blobs in the end-of-year Fusaka upgrade (or phase in increases to 12–24 first), meeting L2 transaction throughput demands.
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Use Hybrid Proof Systems
Adopt a 2/3 multi-signature mechanism combining optimistic proofs, ZK proofs, and TEE (Trusted Execution Environment) hardware proofs, achieving instant finality under normal conditions, satisfying core Stage Two criteria, and avoiding overreliance on ZK proofs in the short term.
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Build a Unified ZK Proof Aggregation Layer
Gradually enable ZK-EVMs to generate proofs within a single slot, while establishing a neutral ecosystem mechanism allowing all zero-knowledge proof applications to submit their proofs for aggregation into a single combined proof by an aggregator. This way, N applications would collectively pay around 500,000 gas once, rather than each paying separately.
Through these measures, a higher level of fast finality and security could be achieved, reaching the fully trustless critical Stage Two milestone when both OP and ZK systems function properly. This would greatly reduce market makers’ round-trip time—potentially down to one hour—and make intent-based cross-L2 bridging extremely cheap.
This Week SUI, W, ENA Among Others Face Large Token Unlocks, Total Value Over $300 Million
According to Token Unlocks data, major token unlocks are scheduled this week for SUI, W, ENA, and others, totaling over $300 million. Specifically:
SUI will unlock approximately 64.19 million tokens on April 1, representing 2.03% of circulating supply, worth about $152 million;
W will unlock approximately 1.39 billion tokens on April 3, representing 47.4% of circulating supply, worth about $117 million;
OP unlocked approximately 31.34 million tokens on March 31, representing 1.93% of circulating supply, worth about $23.8 million;
BIGTIME will unlock approximately 333 million tokens on April 3, representing 18.44% of circulating supply, worth about $16.7 million;
ENA will unlock approximately 40.63 million tokens on April 2, representing 0.77% of circulating supply, worth about $15 million;
ZETA will unlock approximately 44.26 million tokens on April 1, representing 6.05% of circulating supply, worth about $13.2 million;
DYDX will unlock approximately 8.33 million tokens on April 1, representing 1.09% of circulating supply, worth about $5.4 million.
Musk Announces xAI's All-Stock Acquisition of X, New Entity Consolidated as XAI Holdings
Elon Musk announced on X that xAI has acquired X in an all-stock transaction, with the merged entity consolidated under XAI Holdings.
He revealed that post-merger, xAI is valued at $80 billion, while X is valued at $33 billion (i.e., $45 billion minus $12 billion in debt).
Trump Pardons Three BitMEX Founders and Former Employee on Money Laundering Charges
According to CNBC, President Trump has pardoned three co-founders and one former senior employee of cryptocurrency exchange BitMEX.
The three co-founders—Arthur Hayes, Benjamin Delo, and Samuel Reed—had previously pleaded guilty to federal criminal charges related to money laundering and failure to operate a regulated exchange.
Reed pleaded guilty in 2022 to violations of the Bank Secrecy Act and agreed to pay a $10 million fine. Prosecutors had accused them of effectively running BitMEX as a “money laundering platform,” calling their claims of exiting the U.S. market “false.”
Market Data
Suggested Reading
"April 2" Trading Guide: Three Possible Scenarios
This article analyzes the new U.S. tariff policy expected on April 2 and its potential market impact. Citing Citibank reports, it outlines three possible market scenarios and explores their potential effects on the global economy, stock markets, and crypto markets. It also includes background analysis of Trump administration tariff policies and expert market forecasts.
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Sign Protocol: Empowering Verification Anywhere with Blockchain
This article focuses on Sign Protocol, a blockchain-based omnichain verification protocol that enables efficient, low-cost data verification with privacy protection, aiming to solve inefficiencies and high costs in real-world verification. It has already succeeded in multiple use cases, including e-contract signing, identity verification, and token distribution.
This article dives into the cryptocurrency market, particularly the launch of the first Solana futures ETF and its market significance. Through an interview with SOL Strategies CEO Leah Wald, it discusses Solana’s development strategy, institutional adoption, and ecosystem direction. It also examines Solana’s positioning in the blockchain industry and comparisons with other crypto assets.
This article examines the U.S. government’s proposal to use gold reserve revenues to purchase Bitcoin. Starting with a comparison between Bitcoin and gold, it analyzes the deeper implications of this proposal and its potential impact on the global financial system. It also delves into Bitcoin’s transparency and risk resilience as a decentralized asset, and its potential role in the future financial landscape.
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