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Good Morning,

Here's a quick preview of today’s content: One of the craziest market days has the markets flying in both directions after a single tweet, Fartcoin somehow continues to be the ultimate market hedge, Conor McGregor’s coin gets choked out Khabib style, CZ joins Pakistan crypto council, Larry Fink sends a big market warning, Bitcoin futures coming to Chicago, VC activity for Bitcoin startups start to heat up, and more.

Happy Tuesday – Let’s dive in.

Market Snapshot

As of 4/8/2025. Data per CoinMarketCap.

  • Speculation about a Trump tariff delay sent markets swinging wildly during early U.S. trading on Monday

    • The rumor was shot down by the White House, prompting another reversal in prices

  • Bitcoin surged above $80,000, recovering from a low of $74,400, while the Nasdaq swung from nearly a +5% loss to a -5% gain

  • The Fartcoin token, which launched in October with no utility, has defied the markets several times before by bouncing upward when other assets have tanked

    • Fartcoin has surged a whopping +30% over the past 24 hours, topping $0.60 on April 8, according to CoinGecko

Headline Roundup
The major headlines driving crypto markets

  • A false tweet by ‘Walter Bloomberg’ an anonymous account, whiplashed the entire market by over $2.4T in one of the craziest trading days of the year – see the tweet here

  • Strategy discloses $6B in unrealized BTC losses for Q1 (BA)

  • Lawsuit claims U.S. government knows identity of Bitcoin creator (DE)

  • BlackRock CEO Larry Fink warns of potential further 20% market drop (CD)

  • Binance founder CZ joins Pakistan Crypto Council as advisory member (BA)

  • Franklin Templeton leads seed round into stablecoin startup focused on outsourcing yield (TB)

  • Senator Tommy Tuberville introduces Financial Freedom Act of 2025 allowing crypto in retirement accounts (TD)

  • Fortnite-themed Solana meme coin pumps after Epic Games CEO calls it a scam (DE)

  • Conor McGregor refunds failed meme coin auction and plans relaunch (DE)

  • Curve Finance processes record $34.6B trading volume in Q1 (TD)

  • Hong Kong SFC allows licensed crypto platforms and funds to offer staking with safeguards (TD)

  • Trump-linked WLFI proposes fixed $1 stablecoin with airdrop to early supporters (TD)

  • Binance partners with Worldpay to enable Apple Pay crypto purchases starting April 7, 2025 (TD)

  • Riot Platforms hits post-halving BTC production high and expands AI operations (CD)

  • SEC hosts crypto trading roundtable with Uniswap and Coinbase in attendance (CT)

  • OKX fined $1.2M by Malta for money laundering compliance failures (CD)

  • WazirX creditors approve restructuring plan after major exchange hack (CT)

Launches

  • Cboe Digital, the crypto arm of the Chicago Board of Options Exchange, is hoping to roll out a new BItcoin futures product later this month (CD)

  • Hong Kong eyes launch of crypto staking ETFs amid rising demand (TB)

  • Pipe Network rolls out Solana Sync Snapshots for faster node startup (BW)

  • First U.S. XRP ETF set to launch Tuesday with Teucrium's leveraged fund (CD)

Venture Capital

  • Bitcoin-related startups see 50% surge in pre-seed funding activity (TA)

Regulation

  • Nigerian court postpones Binance tax evasion trial to April 30 (CS)

  • Brazil approves legal seizure of crypto assets in ongoing enforcement efforts (FF)

  • ECB’s Lagarde urges EU to launch CBDC by October and reduce reliance on foreign systems (TD)

Cybersecurity

  • Spanish police dismantle $20M AI-powered crypto scam ring (CT)

  • ZKasino scammer wallet confirmed to have lost $27.1M following liquidation of leveraged ETH long (CN)

Extra Reads

  • Crypto VC funding reached $4.8B in Q1 2025, the highest since Q3 2022

Read the full State of Venture Capital in Crypto, Q1 2025 

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