4.9 AI Daily Crypto Assets industry is in constant turmoil: increased regulation, price Fluctuation, and technological innovation coexist.

1. Headline

1. The UK regulator has announced a new framework for regulating crypto assets.

The UK's Financial Conduct Authority ( FCA ) has announced a new regulatory framework for crypto assets. This framework will significantly broaden the scope of regulation, focusing not only on anti-money laundering compliance but also on the infrastructure development of second-layer networks, cross-chain transactions, and more. Industry insiders believe that this framework could serve as a reference for other countries in formulating related policies.

The UK, as a financial center, has always been at the forefront of cryptocurrency asset regulation. The introduction of this new framework aims to respond to the rapid development of the cryptocurrency asset market and strengthen investor protection. The framework covers multiple aspects including the issuance, trading, and custody of cryptocurrency assets, striving for comprehensive regulation.

The implementation of the new framework will have a profound impact on the cryptocurrency asset industry in the UK and globally. On one hand, it establishes clear rules for industry development, which is conducive to attracting more institutional investors to participate; on the other hand, it may increase compliance costs for companies and pose certain obstacles to innovation. Overall, the new framework aims to balance risk and innovation, promoting the healthy and orderly development of the industry.

2. New York State proposes a bill to protect the election system using blockchain.

New York State Assemblyman Clyde Vanel introduced Assembly Bill 7716 on April 8, proposing the use of blockchain technology to protect voter records and election results. The bill has been referred to the Election Law Committee for review, requesting the New York State Board of Elections to collaborate with the Office of Information Technology Services to submit a research report within one year of the bill's enactment.

The immutability and auditability of blockchain technology are expected to enhance the security and transparency of election systems. The bill has sparked heated discussions; supporters believe it will increase public trust in elections, while opponents worry that the application of the technology poses risks that could affect the fairness of elections.

The credibility of the electoral system is fundamental to the democratic system. If the bill is passed, New York will become the first state in the United States to use blockchain to protect elections. This will not only serve as a reference for other states but also promote the broader application of blockchain technology in the public sector.

3. MicroStrategy may be forced to sell Bitcoin to cope with debt stress

The cryptocurrency investment company MicroStrategy ( stated in its latest 8-K filing that it may be forced to sell some Bitcoin to pay off debts. As of the end of 2024, the company holds 528,000 Bitcoins at an average cost of $67,500 per coin, currently facing an unrealized loss of about $4.6 billion.

MicroStrategy has been aggressively buying Bitcoin since 2020, treating it as a financial reserve asset for the company. However, the continued decline in Bitcoin prices has placed significant debt pressure on the company. According to disclosed documents, if Bitcoin prices fall further, the company may need to sell some Bitcoin to repay its debts.

This news has raised concerns in the market. Analysts point out that if MicroStrategy is forced to sell Bitcoin on a large scale, it could further depress Bitcoin prices, triggering more investor sell-offs and creating a vicious cycle. On the other hand, there are also views that MicroStrategy's sale of part of its Bitcoin could alleviate debt pressure and benefit the company's long-term development.

) 4. Aave DAO approved a $400 million buyback plan to enhance the ecosystem.

The DAO of the leading DeFi protocol Aave has approved a proposal to use the equivalent of $400 million in aEthUSDT for the repurchase of AAVE tokens. This is the first phase of Aave's repurchase plan, which is expected to last for about a month. The complete plan is expected to continue at a pace of up to $1 million per week over the next six months.

The buyback program aims to repurchase AAVE from the open market and distribute it to the ecosystem reserve, thereby enhancing governance incentives and protocol health. The plan has received more than 95% support from the DAO, demonstrating the determination of the Aave community to enhance the value of the token and the ecosystem.

Analysts believe that this initiative will increase the supply scarcity of the AAVE token, which will help support the token's price. It will also enhance the Aave ecosystem's risk resistance capability, laying the foundation for future development. However, there are also opinions questioning whether the buyback plan can truly boost the token price, and attention needs to be paid to the execution effects in the future.

5. Crypto AI applications are still in their early stages and need to prove their real value

According to a survey, crypto AI applications are still in their early stages, with 59.3% of crypto users considering themselves "early adopters" of crypto AI. The survey indicates that crypto AI needs to demonstrate real value in order to attract a broader user base.

Crypto AI is seen as the next hotspot in the cryptocurrency field, attracting a swarm of capital and entrepreneurs. However, most applications are still in the proof-of-concept stage, and there are not many real-world cases. Users' understanding of crypto AI also varies; some are skeptical, while others hold excessively high expectations.

Industry insiders say that the prospects for crypto AI are bright, but it also faces many challenges, such as privacy protection and computational power requirements. Only by addressing these issues and providing truly valuable application scenarios can it gain wide recognition from users. In the future, the development of crypto AI is worth ongoing attention.

2. Industry Data

1. BTC

The recent transaction price of Bitcoin is 79492.2000 USD, with a daily increase of +5.7%.

2. ETH

The recent transaction price of Ethereum is $1570.7800, with a daily increase of +7.4%.

3. XRP

The recent transaction price of XRP is $1.8679, with a daily increase of +11.1%.

4. SOL

The recent transaction price of Solana is $108.7400, with a daily increase of +11.7%.

5. GT

The recent transaction price of GT is $21.4340, with an intraday increase of +5.7%.

3. Industry News

1. Trump's tariffs sparked market turmoil and Bitcoin plummeted to $75,000

The price of Bitcoin fell below $75,000 within 24 hours due to heightened panic in the market over Trump's move to impose a 104% tariff on Chinese goods. High-risk assets like stocks and cryptocurrencies have been hit hard, with Bitcoin dropping 11% and Ethereum leading altcoins down with a 25% loss. Investors are concerned about the impact of the trade war on the global economy. Trading activity has returned to normal, but a large-scale sell-off, including a certain Bitcoin ETF, resulted in a total of $326 million worth of Bitcoin being sold. Analysts warn that if market conditions worsen further, prices may decline even more.

The Federal Reserve's intervention may be a necessary measure to stabilize the economy, as bond yields rise and stocks fall. This tariff turmoil has exposed the impact of policy uncertainty on market confidence, with Wall Street unusually expressing collective concern. Safe-haven assets have failed to perform as expected, with gold prices and U.S. Treasuries being sold off, as investors rush to reduce risk and meet margin calls. The Trump administration's strategy for refinancing U.S. debt at lower levels shows signs of pressure, with the entire yield curve soaring.

2. Ethereum leads the altcoin sell-off, pay attention to technical signals.

Ethereum led the losses in the latest round of crypto sell-offs, falling more than 6% and hitting its lowest intraday level since March 2023. Despite its subsequent recovery, Bitcoin, the largest cryptocurrency, also fell by more than 3%. Against the backdrop of US President Donald Trump's insistence on tariffs, a new round of digital asset sell-off has been triggered, further dimming hopes that a trade war could be avoided.

Multiple indicators of ETH prices show a downward trend and oversold conditions, causing investors to wonder if the market has already reached the bottom. The Relative Strength Index ### RSI ( is close to the oversold area, and the decline in trading volume suggests continued bullish potential. Analysts will focus on Ethereum's performance at the key support level of $1,585, as a rebound at this position could push it towards $10,000. Overall, technical signals indicate that the adjustment trend remains dominant.

) 3. On-chain data reveals the sentiment of Bitcoin holders, analysts predict the bottom range.

On-chain data shows that currently about 25% of Bitcoin holders are in a loss position, mainly short-term investors who bought in the past 5 months. UTXO data further indicates that the supply of Bitcoin in the range of $74,501 to $79,000 is less than 2%, meaning there is limited circulation, and prices may fluctuate more dramatically.

Well-known trader and analyst Rekt Capital predicted in an analysis on April 7 that bitcoin could find a bottom near its all-time high in 2021, around $70,000. Bitcoin needs to stabilize within this price range in order to move out of a clear direction for the next step. Analysts said that the RSI tested a new low in 2023, and $70,000 could be a potential bottom for this round of correction.

4. Cryptocurrency yield strategies have regained attention, with implied volatility presenting opportunities.

Against the backdrop of deteriorating risk sentiment in the global market, the cryptocurrency market is showing a downtrend. Bitcoin is currently consolidating around the $75,000 level, but may be further impacted by declines in the stock market. Ethereum has performed relatively weakly, with its price falling back to the $1,400 level, marking a new low since the beginning of 2023.

In the current environment of increased market volatility, cryptocurrency yield strategies have regained market attention. The higher implied volatility has provided opportunities for market participants to generate returns through structured trades. Traditional safe-haven assets have failed to perform as expected, as investors rush to de-risk and respond to margin call notifications, leading to sell-offs in gold and U.S. Treasuries.

Overall, the current market is in an event-driven bear market, but given the rising risk of economic recession, it could easily evolve into a cyclical bear market. Analysts believe that from a trend perspective, the average decline of cyclical bear markets and event-driven bear markets is typically around 30%, although their duration varies. Investors need to closely monitor subsequent developments and cautiously manage risks.

4. Project News

1. DecentralGPT: Pioneer of decentralized AI infrastructure

DecentralGPT is the world's first fully decentralized large language model infrastructure. The project achieves decentralized deployment of several top open-source large models, including DeepSeek R1 and Llama 4.0, through an innovative distributed AI inference network.

In the context of centralized giants like OpenAI frequently embroiled in data security controversies, the decentralized practices of DecentralGPT may become a key driver in reshaping the power dynamics of the AI industry. As an open, transparent, and permissionless infrastructure, DecentralGPT provides developers with unprecedented freedom to develop and deploy AI applications without censorship and regulation.

The emergence of DecentralGPT has sparked widespread attention in the industry. Analysts believe that this innovation is expected to drive the AI industry towards a more fair and democratic direction. At the same time, there are concerns about the potential risks and challenges that decentralized AI may bring. Regardless, DecentralGPT has opened up a whole new path for the future development of AI infrastructure.

2. Solayer InfiniSVM: An Innovative Practice of Hardware-Accelerated SVM Blockchain

Solayer InfiniSVM is a hardware-accelerated SVM blockchain designed to achieve a breakthrough in blockchain performance through innovative technologies such as hardware load offloading and high-speed transaction processing.

The biggest highlight of the project is the introduction of hardware acceleration drivers, which leverage dedicated hardware to accelerate critical compute-intensive workloads, resulting in a significant increase in transaction throughput and concurrent processing capabilities. At the same time, InfiniSVM also adopts the PoA-S hybrid consensus mechanism, which further optimizes the consensus efficiency while ensuring decentralization.

The emergence of InfiniSVM provides a completely new solution to the performance bottleneck problem in blockchain. Analysts believe that if this project can be successfully implemented, it will bring a revolutionary improvement in experience for high-concurrency, low-latency DApp application scenarios. At the same time, there are also views questioning the scalability and decentralization of hardware acceleration solutions.

Overall, InfiniSVM represents another new direction in the development of blockchain technology, and its innovative practices are worthy of high attention from the industry.

3. Cartesi: Linux virtual machine empowers DApp development

Cartesi is a modular blockchain protocol that provides developers with a complete Linux environment and high-performance Rollup technology, aimed at supporting the development of the next generation of decentralized applications.

By integrating Linux, the Cartesi Virtual Machine enables developers to build DApps using decades of battle-tested programming languages, tools, and codebases. At the same time, Cartesi provides an independent rollup layer and dedicated computing resources for each DApp, which improves computational scalability while ensuring decentralization, security, and censorship resistance.

Cartesi's innovation lies in the seamless integration of the mature Linux ecosystem with blockchain technology, providing great convenience for DApp development. Analysts believe that this solution is expected to significantly lower the barriers to DApp development, attracting more traditional developers to join the blockchain field.

At the same time, there are also views questioning Cartesi's trade-offs in performance and security. Regardless, Cartesi provides a whole new approach to DApp development, and its development deserves ongoing attention.

4. UXLINK: The infrastructure platform leading We growth

UXLINK is an infrastructure platform focused on Web3 growth, dedicated to providing seamless experiences for projects and builders, and achieving healthy growth through top-notch infrastructure, tools, and traffic support.

The biggest highlight of this platform is its successful PMF###Product-Market-Fit( validation, achieving strong growth and solid profits in the first quarter of 2025. The UXLINK ecosystem MVP has also been fully validated, entering a positive cycle.

Analysts believe that the success of UXLINK stems from its precise grasp of the growing demand for Web3. In the current stage of industry development, the lack of infrastructure and tools has become a limiting factor. UXLINK provides a comprehensive solution to address this pain point and is expected to become an indispensable growth engine in the Web3 ecosystem.

At the same time, there are opinions questioning the long-term development prospects of UXLINK in terms of sustainable profit models. However, overall, UXLINK represents a new direction in the construction of Web3 infrastructure, and its development deserves significant attention from the industry.

5. Economic Dynamics

) 1. Trump's tariffs have sparked turmoil in global trade

The current global economic situation is severe, with major economies experiencing sluggish growth and persistent inflationary pressures. According to the latest data from the International Monetary Fund, the global economic growth forecast for 2025 is only 2.6%, a decrease of 0.4 percentage points from the previous year. Meanwhile, inflation rates are generally high in major economies, with the U.S. inflation rate reaching 6.5% in March, while the Eurozone's inflation rate during the same period was 7.1%.

Recently, U.S. President Trump suddenly launched a large-scale tariff increase plan, imposing "reciprocal tariffs" on major trading partners including China, the EU, and Japan, triggering global trade turmoil. This policy not only exacerbates global supply chain disruptions but may also further elevate inflation levels and increase downward pressure on the economy.

Investors reacted strongly to Trump's tariff policy, intensifying fluctuations in global financial markets. Since the announcement of the tariff plan, the U.S. stock market has fallen by more than 10%, with the S&P 500 index briefly breaking through the key support level of 3,800 points. U.S. Treasury yields surged, with the 10-year Treasury yield surpassing 4%. The U.S. dollar index rose significantly, approaching the 105 mark.

Goldman Sachs' latest report on the US stock market indicates that it may evolve into a cyclical bear market, which typically lasts about two years and takes five years to rebound to its starting point. Goldman Sachs further analyzes that from the trends, the average decline of cyclical bear markets and event-driven bear markets is usually around 30%, although their duration varies.

Former Federal Reserve governor Laurence Meyer stated that Trump's tariff policy will put the Federal Reserve in a "dilemma." On one hand, the increased tariffs may raise inflation expectations, requiring the maintenance of current interest rate levels; on the other hand, the increased downward pressure on the economy may necessitate interest rate cuts to alleviate recession risks. This is the first time in over forty years that a U.S. presidential policy has presented such a profound potential conflict for the Federal Reserve.

2. The European Central Bank lowered its economic growth forecast

Four sources revealed that the impact of U.S. trade tariffs on economic growth in the Eurozone may be much greater than initially estimated by the European Central Bank, and the turmoil could also dampen inflation in the short term. This could push the Eurozone economy into stagnation and shatter hopes for an economic recovery.

The European Central Bank predicted last month that the trade war would reduce the euro area’s economic growth rate by 0.5 percentage points in the first year, and if the EU takes retaliatory measures, prices would also temporarily rise by a similar magnitude. However, sources indicate that the actual tariffs announced by Trump are more harmful than the model estimates, and ECB staff have been asked to come up with new figures for policymakers to discuss at their meeting on April 17.

Everyone thinks that the estimate of 0.5 percentage points is now too low, with one person stating that the impact could exceed 1 percentage point. This would essentially wipe out all economic growth, as growth in the Eurozone is expected to be around 1% this year.

ECB President Christine Lagarde has previously said that the ECB will be ready to act if the economic outlook deteriorates further. Analysts believe that the downward revision of economic growth forecasts may create conditions for the ECB to pause interest rate hikes or even resume easing.

3. The Governor of the Bank of Japan signals a hawkish stance

In a speech on April 9, Bank of Japan Governor Kazuo Ueda stated that if the economy improves as expected, interest rates will continue to rise. This statement is seen as a hawkish signal, indicating that the Bank of Japan may further tighten monetary policy in the future.

Japan is a country with relatively light inflation pressure among major economies, but the inflation rate has recently risen. In March, Japan's core inflation rate reached 3.1%, exceeding the Bank of Japan's target level of 2%.

Analysts point out that Ueda Kazuo's remarks reflect the Bank of Japan's concern about the inflation situation. If inflation continues to rise, the Bank of Japan may increase the pace of interest rate hikes. However, there are also views that the Bank of Japan's rate hike pace may slow down, as Japan's economic recovery remains fragile.

In addition, the Bank of Japan is facing pressure from the government. The Japanese government wants the central bank to maintain its accommodative policy to support economic growth. If the central bank tightens monetary policy too aggressively, it may trigger a conflict with the government.

Overall, there is still uncertainty regarding the direction of the Bank of Japan's monetary policy. Investors need to closely monitor inflation and economic data to assess the Bank of Japan's next move.

4. The Federal Reserve meeting minutes spark divergence

The latest minutes from the Federal Reserve were released at 2 AM Beijing time on April 13. These minutes detailed the discussions from the policy meeting held on March 19-20, during which the Federal Reserve maintained the benchmark interest rate in the range of 4.25%-4.50% and signaled three rate cuts within the year.

However, the market landscape has changed dramatically since Trump unveiled his global tariff plan on April 2. A number of economists have warned of a possible recession this year. Powell took a clear hawkish turn in his April 4 speech, warning that "we are facing a highly uncertain outlook and the risk of both unemployment and inflation rising." The latest futures market data shows that traders have raised their expectations for interest rate cuts to four times this year.

Although this meeting summary reflects the policy considerations of the "pre-tariff era", it still reveals the level of consensus among the Federal Reserve decision-makers at that time. First Eagle Global Value Senior Analyst Apio pointed out: "At the March meeting, there was significant disagreement among decision-makers regarding the economic outlook."

Market analysts will also focus on the discussions regarding financial stability in the minutes. Since March, vulnerabilities in the credit market have intensified, and volatility has continued to rise. If the minutes show that the Federal Reserve was already alert to potential risks in the financial system at that time, investors may need to reassess their policy steadfastness.

Overall, this meeting summary may lead to a divergence in the market regarding the outlook for the Federal Reserve's monetary policy, further exacerbating volatility in the financial markets.

6. Regulation & Policy

1. U.S. Department of Justice: Developers of tools such as mixers or wallets are not responsible for user crimes

The U.S. Department of Justice has released a significant update, clarifying that developers of tools such as mixers or wallets are not responsible for the criminal actions of users; only the criminals themselves are held accountable. This statement indicates that law enforcement will focus on actual criminal activities such as fraud and terrorism financing, while emphasizing the protection of the rights of legitimate blockchain users and businesses, supporting their fair access to banking services, and reducing enforcement actions against crypto trading platforms and mixing services.

The statement aims to create a more friendly regulatory environment for the cryptocurrency industry. For a long time, crypto companies have been troubled by regulatory uncertainty, fearing that their products or services might be seen as assisting criminal activities. This time, the Department of Justice has made a clear statement, providing greater compliance space for crypto enterprises, which is conducive to promoting industry innovation and development.

Industry insiders generally welcomed this. Coinbase CEO Brian Armstrong believes that the announcement will help eliminate compliance concerns for crypto companies and inject new impetus into the industry's development. Jonathan Levin, co-founder of crypto analytics firm Chainalysis, said that this move will help crypto companies establish a more positive interaction with regulators.

2. The UK's Financial Conduct Authority publishes a regulatory framework for cryptoassets

The UK Financial Conduct Authority (FCA) has released a comprehensive regulatory framework for crypto assets, aimed at creating a more favorable regulatory environment for the crypto industry. The framework expands the scope of regulation from anti-money laundering compliance to include infrastructure builders such as Layer 2 networks and cross-chain transactions.

Matthew Long, Director of Payments and Digital Assets at FCA, stated that the new framework will significantly expand the scope of regulation compared to the previous approach that only focused on anti-money laundering compliance. Industry insiders noted that this regulatory framework could have a significant impact on infrastructure builders such as Layer 2 networks and cross-chain transactions, and may serve as a reference for other countries in formulating related policies.

The introduction of this framework aims to create a more favorable development environment for the UK crypto industry. The UK government hopes to attract more crypto companies to operate in the UK through clear regulatory policies, thereby enhancing the UK's competitiveness in the global crypto sector.

Crypto businesses have generally welcomed this. Marcus Hughes, general manager of Coinbase's UK branch, believes that the framework provides crypto companies with greater compliance space and development opportunities. CEO Peter Smith said that the UK government's regulatory initiatives will help drive the long-term development of the crypto industry.

3. Ukraine plans to impose an 18% income tax on virtual assets.

Ukraine has made significant progress in regulating cryptocurrency taxation, with the National Securities and Stock Market Commission (NSSMC) releasing a comprehensive framework for the taxation of virtual assets. The proposal not only presents a standard tax model but also includes preferential tax models, demonstrating that Ukraine is actively aligning its financial system with international digital asset standards.

According to the framework, Ukraine will impose an 18% income tax on virtual assets. At the same time, tax incentives will be provided for certain qualifying crypto companies and individual investors. The framework also stipulates the tax declaration and payment procedures for crypto assets, as well as related regulatory measures.

The Ukrainian government wants to create a more favorable environment for the development of the crypto industry through a clear tax policy. Ukrainian Prime Minister Denis Shmyhal said that the framework will help attract more crypto businesses to do business in Ukraine and promote Ukraine as a hub for blockchain technology innovation.

Cryptocurrency companies generally welcome this. Mikhail Chobanov, CEO of Kuna Exchange, believes that a clear tax policy will provide greater compliance space and development opportunities for cryptocurrency companies. Vladimir Mezhakhari, founder of White Exchange, stated that this framework will help promote the long-term development of Ukraine's cryptocurrency industry.

4. The Federal Deposit Insurance Corporation (FDIC) has developed a new framework for banks to participate in crypto business

The Federal Deposit Insurance Corporation (FDIC) is developing a more flexible and transparent framework for U.S. banks to engage in cryptocurrency activities, including the use of public, permissionless blockchains.

FDIC Acting Chair Travis Hill outlined the agency's evolving stance on crypto-related activities at the American Bankers Association conference in Washington. One key area under review involves the interaction between regulated banks and public, permissionless blockchains. Hill acknowledged that while jurisdictions outside the U.S. have allowed banks to use public chains for years, U.S. bank regulators have taken a more cautious approach. The FDIC now believes that a complete ban on the use of public blockchains is too strict and that appropriate safeguards are needed.

Hill clearly pointed out that the FDIC and the Office of the Comptroller of the Currency recently revoked their previous approval letters—this move effectively prevents banks from engaging in cryptocurrency activities—this is just the first step. The FDIC is expected to issue more guidance to enable banks to participate in digital asset business. He also acknowledged that U.S. banking regulators effectively prohibit banks from interacting with public permissionless blockchains, a policy that needs to be reevaluated.

The initiative aims to create a more favorable regulatory environment for U.S. banks to engage in cryptocurrency activities. For a long time, U.S. banks have faced regulatory restrictions that have hindered their full participation in the crypto industry. The new framework from the FDIC will provide banks with greater compliance flexibility, promoting the integration of the crypto industry with the traditional financial system.

Industry insiders have generally welcomed this. James Rees, Executive Vice President of the American Bankers Association, believes that this framework will help promote innovation and development in banking operations. Alex Mashinsky, CEO of the crypto lending company Celsius Network, stated that this initiative will provide banks with more opportunities to participate in the crypto industry.