Gate Crypto Flash News and Market Updates

Gate News update, April 12, BTC’s current price is about $71,646, up about 6.1% from $76,000; ETH’s current price is about $2,215, up about 8% from $2,400.

Gate News message: On April 12, RAVE briefly surged more than 40%, reaching a high of $2.97 and currently trading at $2.4.

Bittensor co-founder Jacob Steeves responds to the Covenant AI incident, accusing its founder of betraying trust and issuing an apology. Steeves says he will move forward with a locked staking mechanism, enhance protocol transparency and resilience to risk, and continue to push for open AI development.

Two whale addresses are continuously accumulating TRUMP tokens, for a cumulative holding of about $5.6 million worth of TRUMP. One of the addresses withdrew 850,488 tokens within two days, while the other withdrew 105,754 tokens.

Gate News message, April 12, in the past 24 hours total liquidations across the market reached $231 million. Of this, long liquidations were about $142 million, and short liquidations were about $88.3557 million. By coin, Bitcoin liquidations were about $72.2491 million, and Ethereum liquidations were about $63.7792 million.

Gate News message, April 12, Musk’s social app XChat will officially launch on the App Store on April 17. Musk previously said that XChat’s goal is to replace the old Twitter direct message system and build a fully encrypted platform supporting text, file transfers, and audio and video calling.

Macro investor Jordi Visser believes that if Bitcoin and Ethereum break through $76,000 and $2,400 respectively, it will kick off a sustainable uptrend. He expects high inflation to push investors to seek profitable assets, and notes that the probability of an economic recession has fallen to 24%. This view contrasts with the current bearish expectations in the crypto industry.

Gate News message: On April 12, according to Israeli media reports, after negotiations between the United States and Iran failed to reach an agreement, Israel assessed that a U.S.-Iran ceasefire could be extended so both sides can continue to stay in contact.

Gate News message. On April 12, data from a certain CEX market shows that ETH is currently trading at $2,212, down 55% from its all-time high. ETH’s all-time high was $4,957 on August 25, 2025.

Gate News message: On April 12, U.S. President Trump reposted an article with the headline "If Iran Doesn’t Capitulate, the President Holds a 'Trump Ace': A Naval Blockade" and copied and posted that headline. The article states that if Iran refuses to accept the final agreement proposed by the United States on Saturday, Trump can choose to blow Iran back to the "Stone Age," as he vowed, or once again adopt the naval blockade strategy that had previously been successfully implemented in Venezuela.

MiniMax announced that its M2.7 model is officially open-sourced, achieving SOTA performance of 56.22% and 57.0% on the SWE-Pro and Terminal Bench 2 benchmark tests, respectively. The model is available on Hugging Face and has the ability to build complex agent frameworks.

Argentina’s National Securities Commission revises the definition of eligible investors, bringing virtual assets within the scope of recognition. In addition, investors must hold at least 350k UVA. Furthermore, new crowdfunding financing provisions have been added, allowing non-eligible investors to participate in certain offerings. The maximum investment per transaction is 3,000 UVA, with a total cumulative limit not exceeding 10k UVA.

Gate News message. On April 12, according to on-chain data monitoring, Sky (formerly MakerDAO) co-founder Rune’s 7x leveraged Nasdaq 100 short positions have all been closed. He currently still holds 20x leveraged WTI crude oil futures long positions, 7x leveraged Brent crude oil long positions, and 20x leveraged S&P 500 short positions, and all of them are in a loss position. His overall position value has now fallen to about $680k, with an unrealized loss of about $60k, and the return on investment is -21.78%.

Gate News message: On April 12, according to Lookonchain monitoring, an address withdrew 3.6 million ETHFI from a certain CEX 1 hour ago and sold it all in a single transaction, receiving 1.587 million USDC in return.

Wang Yongli analyzed U.S. cryptocurrency asset policy in his article, saying that its classified regulatory bill is an important development and worth global emulation. But he also stressed that it should be viewed dialectically, and that effective regulation should be implemented to support the innovative development of crypto assets.

The Ether Machine treasury company, The Ether Machine, and Dynamix Corporation’s $1.6 billion SPAC merger agreement was terminated due to unfavorable market conditions. The merger aimed to list The Ether Machine on Nasdaq; after the termination, Dynamix will receive a $50 million termination fee.

Genius announced its first-season airdrop plan, which will distribute 70M GENIUS. Users can choose to claim immediately or lock it up for one year. Immediate claiming will face a 70% burn penalty, while locking up can receive 100% allocation. This mechanism is designed to attract long-term community members and prevent short-term speculation.

Gate News, April 12. According to Coinglass data, liquidations across all exchanges in the past 1 hour totaled $90.75 million. Of that, long liquidations were $85.0 million, accounting for 93.7% of the total liquidation amount; short liquidations were $5.75 million, accounting for 6.3%.

Gate News, April 12. Lookonchain monitoring shows that the well-known trader “Maji” saw their 13-win streak come to an end. Due to the market downturn, they just closed a Bitcoin long position, incurring a loss of about $192k.

On April 12, the X product lead Nikita Bier announced that the new tool has officially gone live to identify original content creators and distribute revenue, aiming to incentivize the creation of high-quality original content, improve the user experience, and continuously refine the revenue-sharing program.