Gate Crypto Flash News and Market Updates

Circle announced the launch of Circle Wrapped Bitcoin (cirBTC), a tokenized bitcoin product backed 1:1 by BTC. It is designed for institutional markets, supports on-chain real-time verification, and is suitable for institutional use cases, with plans to expand to multiple chains in the future.

Gate News update, April 3, according to The Atlantic, a source said that FBI Director Patel, Army Secretary Driskoll, and Labor Secretary Chavez-Dremer may leave the Trump administration.

Gate News message. On April 3, according to The Information, the AI company Anthropic acquired the biotech startup Coefficient Bio for about $400 million. Anthropic is the developer of the Claude large language model, and this acquisition marks its expansion into the biotech sector.

Gate News update, April 3, the Nikkei 225 index (Japan’s stock market benchmark) opened up 615.75 points, a gain of 1.17%, to 53,079.02 points. The Korea KOSPI index (South Korea’s stock market benchmark) opened up 145.0 points, a gain of 2.77%, to 5,379.05 points.

One of the largest Bitcoin mining companies in the world, MARA, will lay off about 15% of its employees. The CEO said this is part of the company’s strategic transformation as it moves into the energy and AI sectors. MARA is also selling Bitcoin to repay its debts, and it expects a net loss of $1.3 billion in 2025. Affected employees will receive corresponding compensation.

SpaceX has raised its target valuation for its first public offering (IPO) to $200 billion, exceeding most S&P 500 companies. The company plans to meet with potential investors in the coming weeks to share information supporting that valuation.

Trump expressed disappointment to Commerce Secretary Lutnick and Labor Secretary Dremer, considering a cabinet reshuffle, especially targeting members who have underperformed. If Lutnick is fired, it could signal a shift in Trump’s economic policies. The White House said the two secretaries performed well and received the president’s support.

SpaceX is currently planning the largest IPO in its history, with a target valuation of $1.75 trillion. It is expected to list as early as June, raising up to $75 billion. The funds will be used for space AI and lunar projects. The company has already selected its lead underwriters and will hold an analyst briefing in April.

Gate News message, according to Bloomberg, Tether is making a final push for fundraising at a $500 billion valuation. The stablecoin issuer is working to complete this funding round at the specified valuation level.

Gate News: According to the latest Gate TradFi data, JPN225 (Nikkei 225) has dropped by 1.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

On April 2, the spot price of Brent crude oil broke through $140 per barrel, reaching the highest level since 2008, mainly due to a shutdown of the Strait of Hormuz that disrupted global oil supply. This supply crisis put refineries under immense pressure, driving a sharp rise in crude oil prices over a short period of time.

Gate News message: On April 2, U.S. President Donald Trump said that Iran is at the point where it should reach an agreement to avoid it being too late.

Gate News update, April 2, stablecoin issuer Circle announced that it is about to launch a wrapped Bitcoin cirBTC. cirBTC is backed 1:1 by BTC and can be verified on-chain; its design is intended to seamlessly collaborate with Circle’s infrastructure and the broader DeFi ecosystem, thereby creating a neutral foundation for new on-chain applications.

On April 2, among the top 100 cryptocurrencies, MemeCore had the highest gain at 6.51%, while Uniswap had the largest decline at 12.10%. Overall, market volatility was clearly evident.

Ethereum currently accounts for about 65% of non-USD stablecoin supply, down 25 percentage points from the beginning of 2023. Even though other blockchains are catching up, Ethereum remains the primary choice for stablecoin issuance, and the number of active senders is expected to rise from 2000 to 12000.

In the past 24 hours, the total liquidation value in the cryptocurrency market reached $459 million, of which long positions accounted for 59%. The liquidation amounts for BTC and ETH were $98.02 million and $102 million, respectively. A total of 185,796 people were liquidated, and the largest single liquidation was $17.28 million.

A certain CEX has received a conditional approval from the Office of the Comptroller of the Currency (OCC) in the United States, allowing it to establish a national trust institution, but without converting into a commercial bank. It will continue operating under the supervision of the New York State Department of Financial Services, strengthening the consistency of its custody business and laying the foundation for new products.

The U.S. Commodity Futures Trading Commission filed a lawsuit seeking to stop the State of Illinois from regulating prediction markets, arguing that the state’s actions infringe on federal regulatory authority. This case marks the CFTC’s first legal action to challenge state-level gambling regulation. The dispute began when Illinois issued a cease-and-desist order to the prediction market Kalshi, alleging it violated the state’s gambling laws.

Iranian crude oil saw a premium over Brent for the first time after the United States eased sanctions, with the premium coming in at about $1 per barrel. By controlling the Strait of Hormuz and constraining global supply, Iran increased the value of its crude oil and improved its position in the market.

Gate News update: On April 2, according to market sources, the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) filed a lawsuit against the state of Illinois, its governor, and its attorney general, alleging that they tried to regulate prediction markets beyond their legal authority. The two federal agencies said the relevant regulatory measures in Illinois are ineffective because the state government has no jurisdiction over federally regulated prediction markets. The complaint documents emphasized that the move is intended to protect innovative financial instruments from overreaching interference by local governments.