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According to Bloomberg, the Federal Reserve is inquiring in detail with major banks about their risk exposure in the private credit sector, due to a surge in fund redemptions and a continuous rise in non-performing loans. The Treasury is also simultaneously questioning the insurance industry to comprehensively assess the overall pressure on the $1.8 trillion private credit industry and the risks of its spillover into the financial system.BitMEX founder Arthur Hayes commented, "I hope the scale is large enough so that we can welcome money printing to save the market." Implicitly, if this regulatory assessment reveals systemic risks, it may force the Federal Reserve to restart easing and implement large-scale monetary expansion, which could benefit the cryptocurrency market.

Cryptocurrency exchange Gemini has seen its market value shrink by over 50% this year and has laid off 30% of its staff. Internally, there are discussions about requesting founders Tyler Winklevoss and Cameron Winklevoss to waive the hundreds of millions of dollars in loans they provided to the company or convert the debt into equity. As of the end of December, Gemini's outstanding debt amounted to 4,619 bitcoins, valued at over $330 million at current prices.Securities filing documents show that Gemini lost $585 million last year. Additionally, the company plans to exit the UK, EU, and Australian markets, with several executives having already left. Currently, the Winklevoss brothers hold the majority voting rights and have not yet expressed whether they support this proposal.

Amid a significant rebound in Bitcoin whale activity and a sharp decline in inflows to trading platforms, traders are setting Bitcoin's target price at $88,000. This week, after four days of consolidation between $70,000 and $72,000, Bitcoin reached an intraday high of $73,255 on Friday.The current price structure resembles the breakout trend of the second quarter of 2025—at that time, the price had long been consolidating below the moving averages, and once it broke the descending trend line, it quickly surged to the next supply zone. Currently, $76,000 constitutes a key trigger point, which also corresponds to the upper boundary of the descending trend line formed since Bitcoin's decline from around $126,000. Once broken, the psychological resistance that has suppressed rebounds for the past few months may be eliminated.On-chain data shows that crypto analyst Amr Taha pointed out that in the past 30 days, inflows of Bitcoin from whales to exchanges have dropped to $2.96 billion, marking the first time since June 2025 that it has fallen below $3 billion, while this figure was as high as $8 billion in February this year. Meanwhile, as of April 9, long-term holders have realized a market value change of $49 billion, indicating that accumulation behavior has restarted.Taha stated that these indicators collectively reflect that chips are shifting from weak hands to strong hands, showing a trend of steady accumulation rather than aggressive selling. The CoinGlass liquidity map shows that a large amount of visible liquidity is concentrated in the $86,000 to $90,000 range.

According to Jinshi reports, the Director of the National Economic Council of the White House, Hassett, stated that the Federal Reserve still has room to cut interest rates, and this outlook will be very solid.

According to Jinshi reports, the market expects about a one-third probability that the Federal Reserve will cut interest rates by 25 basis points this year, and bond traders have slightly reduced their bets on rate cuts. Data shows that due to the rise in gasoline prices caused by the Iran war and the acceleration of inflation in the U.S. in March, U.S. Treasury bonds fell slightly after the report was released, with yields on various maturities rising by two to three basis points. Tom di Galoma, Managing Director of Mischler Financial Group, stated that today's CPI data will not support bond prices, and next month's inflation report will bring more trouble to investors and the Federal Reserve.

According to Jinshi reports, Citigroup economists have preliminarily estimated that the month-on-month increase in March's core PCE, combined with today's CPI data, will be 0.3%.This level is higher than the 2% year-on-year target set by the Federal Reserve, but better than the 0.4% increase in February. The Citigroup team pointed out that they still need to incorporate PPI data to make a more accurate prediction of PCE.

According to Jinshi reports, Alexandra Wilson-Elizondo from Goldman Sachs Asset Management stated that the market had previously prepared for strong inflation data, so today’s data, which was in line with expectations, brings a slight relief. However, this may be the best overall inflation reading we can see for some time, as the data may only partially reflect the full impact of the Iran conflict, which at one point pushed U.S. crude oil and gasoline prices up by about 70%. She added, "The Federal Reserve has room to be patient, and there are ample reasons to do so. Today's data buys time for the Federal Reserve, but the real test lies ahead."

According to Jinshi reports, after the release of the U.S. March CPI data, market pricing shows that bets on the Federal Reserve cutting interest rates once this year have increased.

According to Jinshi News, the CME "Fed Watch" shows that the probability of the Federal Reserve raising interest rates by 25 basis points in April is 1.6%, while the probability of keeping the rates unchanged is 98.4%. By June, the cumulative probability of a 25 basis point rate cut is 1.5%, the probability of keeping the rates unchanged is 96.8%, and the cumulative probability of a 25 basis point rate hike is 1.7%.

According to a report by Reuters, the European Central Bank recently stated its support for the European Commission's push to transfer regulatory authority over systemically important cross-border financial market participants, such as cryptocurrency service providers, major trading venues, central counterparties, and central securities depositories, from national regulators to the European Securities and Markets Authority (ESMA). This initiative aims to deepen the integration of the EU capital markets and enhance overall competitiveness.The European Central Bank suggested that the ESMA Board establish a non-voting central bank seat and emphasized that ESMA needs to obtain sufficient resources and personnel to smoothly take over the new responsibilities. The relevant proposal will be negotiated by EU member states and the European Parliament, and it is expected to take several months to finalize legislation.

According to a report by Reuters, Kraken has become the first cryptocurrency exchange approved for a master account with the Federal Reserve, but the account is restricted, only allowing its banking operations to access the Fedwire payment system and maintain a limited balance, without the ability to earn interest or obtain emergency loans. This move has raised concerns about risks and transparency in the U.S. financial system, including a call from Maxine Waters, chair of the House Financial Services Committee, for more disclosure on account details.Regulatory experts point out that lightly regulated crypto companies having direct access to the Federal Reserve payment system may pose operational and financial stability risks. The Federal Reserve stated that the related restrictions are intended to mitigate liquidity shocks and credit risks, but the banking industry warns that this could affect liquidity in the banking system and exacerbate money laundering and operational loopholes. Kraken stated that its banking reserves are fully supported and comply with bank-level anti-money laundering and customer identification requirements.

Kraken becomes the first cryptocurrency exchange approved for a main account by the Federal Reserve, but the account is restricted, only allowing its banking operations to access the Fedwire payment system and maintain a limited balance, without the ability to earn interest or obtain emergency loans. This move has raised concerns about risks and transparency in the U.S. financial system, including calls from House Financial Services Committee Chair Maxine Waters for more disclosure on account details.Regulatory experts point out that lightly regulated crypto companies having direct access to the Federal Reserve payment system could pose operational and financial stability risks. The Federal Reserve stated that the related restrictions are intended to mitigate liquidity shocks and credit risks, but the banking industry warns that this could affect liquidity in the banking system and exacerbate money laundering and operational loopholes. Kraken stated that its banking reserves are fully supported and comply with bank-level anti-money laundering and customer identification requirements.

Bittensor co-founder Const (@const_reborn) responded on Twitter to recent allegations regarding Covenant AI. Const stated that he has no authority to pause emissions, and that the previous sale of a portion of alpha positions in three subnetworks was because these subnetworks were not operational and were in a high ratio of code destruction state. The impact of this transaction on emissions is consistent with the buying and selling behavior of ordinary TAO holders, and he does not enjoy any special privileges.Regarding management authority, Const clarified that it was Samuel himself who abandoned his Discord channel, and he did not remove his administrator role; he only temporarily restricted his ability to delete posts that honestly criticize and then restored it. Additionally, he emphasized that the scale of the token sell-off was less than 1% of his total investment in the team, and stated that exercising the rights to buy and sell tokens under the dTao system is fundamental to supporting the operation of the system.According to previous reports from ChainCatcher, the main subnetwork developer on Bittensor, Covenant AI, announced its withdrawal from Bittensor. Covenant AI founder Sam Dare stated that the reason Bittensor attracts builders, miners, validators, and investors into this ecosystem is because of its promise not to be controlled by any single entity. But this promise is a lie.

According to on-chain analysis platform Lookonchain, the swing trader address 0x4F51 recently sold the remaining 1000 ETH, worth approximately 2.22 million dollars, incurring a loss of about 1.44 million dollars on this transaction. Since January 27, 2025, this address has conducted 4 swing trades, of which 3 recorded losses, totaling a cumulative loss of 2.45 million dollars.

According to the WSJ, just hours after President Trump suddenly announced a suspension of attacks on Iran last month, the White House warned staff not to abuse their power to place bets in prediction markets at the right moment. According to informed sources, the Office of Management and Budget issued this warning on March 23.Earlier that day, Trump announced the decision to suspend airstrikes via Truth Social. About 15 minutes before the sudden policy shift, there was a wave of mysterious trading activity in the futures market, with Dow Jones market data showing that contracts worth over $760 million in oil futures changed hands in less than two minutes.Recently, three accounts on the Polymarket platform profited over $600,000 by accurately predicting the timing of this week's ceasefire in Iran. Critics of Trump, including many Democrats, immediately inferred that someone had profited from having advance knowledge of the policy shift.The White House confirmed the authenticity of this warning, with Trump's spokesperson Engel stating, "The only special interest that can guide President Trump's decision-making is the best interest of the American people."

According to Jinshi News, the CME "FedWatch" shows that the probability of the Federal Reserve raising interest rates by 25 basis points in April is 1.6%, while the probability of keeping the rates unchanged is 98.4%. By June, the cumulative probability of a 25 basis point rate cut is 2.1%, the probability of keeping the rates unchanged is 96.3%, and the cumulative probability of a 25 basis point rate hike is 1.5%.

Telegram founder Pavel Durov stated that The Open Network (TON) has completed a major upgrade, increasing block generation speed by 6 times, overall performance improved by about 10 times, and transaction confirmation time has been reduced to sub-second levels, achieving a "near-instant" transaction experience.TON officials stated that this upgrade is based on Catchain 2, and the previous confirmation time of about 10 seconds limited instant payments and application response experiences, while this upgrade will make it possible to "complete payments like sending messages." In addition, TON also stated that higher block generation frequency will enhance validator earnings and strengthen staking incentives. Pavel Durov called this upgrade the first step of the "Make TON Great Again" seven-step plan, with the next phase aiming to further reduce transaction fees by about 6 times.

Telegram founder Pavel Durov stated on social media, "The TON blockchain has just completed an upgrade, and now the speed has increased by 10 times. The block generation speed has increased by 6 times, and transactions now achieve instant, sub-second confirmations. This is the first step in the 'Make TON Great Again (MTONGA)' seven-step plan. The next step is to reduce the already low transaction fees by another 6 times."