Crypto Morning News: Paul S. Atkins officially assumes role as SEC Chair; Initia and Sign unveil token economics models
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Crypto Morning News: Paul S. Atkins officially assumes role as SEC Chair; Initia and Sign unveil token economics models
New SEC Chair to review over 70 cryptocurrency ETF applications.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Paul S. Atkins officially sworn in as U.S. SEC Chair
According to official news, the U.S. Securities and Exchange Commission (SEC) announced that Paul S. Atkins has officially taken the oath of office as the 34th SEC Chair.
Earlier, on April 9, the U.S. Senate confirmed Paul Atkins as chair of the Securities and Exchange Commission (SEC) by a vote of 52 to 44. Atkins previously served as an SEC commissioner from 2002 to 2008, appointed by President Trump. He has clearly stated that establishing a regulatory framework for digital assets will be his "top priority," signaling a significant shift in the SEC’s approach toward cryptocurrency regulation.
New SEC Chair to review over 70 crypto ETF applications
According to Decrypt, incoming SEC Chair Paul Atkins will face the task of reviewing more than 70 crypto-related ETF applications. Bloomberg ETF analyst Eric Balchunas revealed that these filings cover various digital assets including Solana, XRP, Dogecoin, and Pengu. Previously, the SEC approved spot Bitcoin and Ethereum ETFs under former Chair Gary Gensler. Analysts expect the SEC may delay its final decision on an XRP ETF until mid-October this year.
Spot gold breaks $3,430/oz, surging over $100 intraday
According to Jinshi Data, spot gold surpassed the $3,430 per ounce level, hitting a new all-time high, rising more than $100 during the session, with gains of nearly 10% for the month.
Sources: Circle and BitGo plan to apply for banking licenses soon
Citing the Wall Street Journal, Jinshi Data reported that sources indicated Circle and BitGo are planning to apply for banking licenses in the near term, while Coinbase Global and Paxos are also considering similar moves.
GSR leads $100 million investment in Nasdaq-listed Upexi to support its Solana reserve strategy
According to Decrypt, crypto trading and investment firm GSR announced a $100 million private equity investment in Nasdaq-listed company Upexi (NASDAQ: UPXI). This comes shortly after Upexi announced a shift toward a cryptocurrency reserve strategy, planning to accumulate and stake Solana to generate long-term value and yield for shareholders.
Brian Rudick, Head of Research at GSR, said the investment highlights growing demand from public markets for high-quality crypto assets. Lily Liu, Chair of the Solana Foundation, noted that the collaboration marks a convergence trend between traditional finance and decentralized finance.
WSJ: Deutsche Bank and Standard Chartered considering expanding crypto operations into the U.S.
According to Bitcoin Magazine citing the Wall Street Journal, Deutsche Bank and Standard Chartered are considering expanding their cryptocurrency businesses into the United States.
Pope Francis of the Roman Catholic Church passes away; LUCE briefly surges 70%
According to Vatican News, Pope Francis of the Roman Catholic Church has passed away at the age of 88. Affected by this news, GMGN market data showed that LUCE briefly surged 70%, with market capitalization exceeding $15 million before falling back to $12 million.
pump.fun platform weekly token graduation rate rises for third consecutive week
According to Dune data, pump.fun’s weekly token graduation rate has risen to 1.08%, marking three consecutive weeks of improvement. Meanwhile, the platform’s weekly trading volume has rebounded for two consecutive weeks, reaching a total of $13 billion last week.
Initia releases tokenomics model: INIT total supply set at 1 billion, 5% allocated to airdrop
According to official announcement, Layer 1 blockchain Initia has released its tokenomics model. The native token INIT has a fixed total supply of 1 billion tokens, with allocations as follows: 7.75% to the foundation, 15% to protocol developers, 15.25% to investors, 25% to the Vested Interest Program (VIP) rewards, 6% to Binance listing marketing, 5% to airdrops, and 1% to Echo platform sales.
Sign releases tokenomics model: SIGN total supply 10 billion, 10% airdropped at TGE
According to official announcement, the on-chain token distribution protocol Sign has unveiled its tokenomics model. The total supply of SIGN is 10 billion tokens, to be minted on the Ethereum mainnet and distributed via BNB Chain and Base. Token allocations include: 40% for community incentives (10% TGE airdrop, 30% community rewards and future airdrops), 20% for supporters, 10% for early team members, 10% for ecosystem development, 20% for the foundation, 12% for core contributors, 3.5% for liquidity incentives, 2% for compliance budget, 2% for operational budget, and 0.5% for donations. An on-chain asset snapshot will take place at 12:00:00 UTC on April 25, 2025.
Prior news: On-chain token distribution infrastructure Sign raised $16 million in funding led by Yzi Labs.
PancakeSwap announces CAKE tokenomics 3.0 to go live on April 23
According to PancakeSwap’s official announcement, CAKE tokenomics 3.0 is scheduled to take effect at 8:00 AM Beijing time on April 23. veCAKE and Gauges Voting will officially be phased out. All CAKE and veCAKE staking will be unlocked. Users who directly staked CAKE through the PancakeSwap interface will be able to exchange veCAKE for CAKE at a 1:1 ratio. These users will have six months to redeem their staked CAKE and veCAKE.
Market Overview
Suggested Reading
The Second Half of Crypto AI: Launchpad War, Shifts in Token Economics, and the Rise of MCP
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Financial Freedom and Neo-Feudalism
This article examines the role of cryptocurrency within the modern financial system and its potential societal implications, particularly the emergence of neo-feudalism. It argues that rather than fundamentally transforming finance, cryptocurrencies have relocated it to environments with less oversight, bringing both new opportunities and challenges. The piece also explores strategies for survival and growth in a crypto-dominated world.
This article analyzes the evolution of innovation cycles, especially how excess returns are achieved through second-order effects. It provides detailed case studies ranging from Google Maps to developments in the crypto space, illustrating how technological innovation generates greater value through ecosystem building and expansion. The article also delves into innovation trends in Web3 and the dynamic shifts in the cryptocurrency market.
Bitcoin Cycle Speculation: Who Controls the Price Moves?
This article analyzes the current cycle of the Bitcoin market, exploring its price behavior and potential future trajectory. Using on-chain data and macroeconomic indicators, it evaluates the health of the current bull market and possible corrections. Despite macroeconomic risks, signs of accumulation by long-term holders suggest Bitcoin could enter a new upward phase in the near future.
Without Perpetual Interest Rates, Can DeFi Ever Be Complete?
This article discusses the absence of perpetual interest rate contracts in decentralized finance (DeFi), suggesting that introducing such instruments would allow borrowers and lenders to lock in rates, enabling arbitrage and risk management, thus facilitating integration between DeFi and traditional finance (TradFi). It analyzes the interest rate mechanisms of platforms like AAVE and their links to traditional markets, arguing that perpetual interest rate products could enhance market efficiency and stability.
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