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Telegram users can now convert digital gifts, including stickers, into non-fungible tokens on The Open Network blockchain. This feature allows users to upgrade over 20 existing gifts, such as Jelly Bunny and Santa Hat, into unique collectibles for a nominal fee in Telegram Stars, the platform’s in-app currency linked to Toncoin . Once upgraded, these items acquire distinctive appearances and can be transferred or auctioned on secondary TON marketplaces like Getgems.

Taiwan’s Financial Supervisory Commission has announced a temporary ban on short selling, effective from April 7 to April 11, in response to a significant market downturn triggered by newly imposed U.S. tariffs. This measure aims to stabilize the financial markets after the benchmark TAIEX index experienced a 12% decline since the beginning of April.

The U.S. administration, under President Donald Trump, recently imposed a 32% tariff on Taiwanese imports, citing concerns over trade imbalances. This action has had immediate repercussions on Taiwan’s export-driven economy, particularly affecting the semiconductor sector, which is a major contributor to the nation’s exports. In response, the FSC has increased the margin requirement for short selling from 90% to 130% and limited the volume of shares available for such transactions. These steps are intended to mitigate speculative trading and reduce market volatility.

President Lai Ching-te has stated that Taiwan does not intend to retaliate against the U.S. tariffs. Instead, the government plans to collaborate with other Asian nations and engage in negotiations with the United States to seek a reduction or elimination of the imposed tariffs. Lai emphasized Taiwan’s significant contribution to the U.S. economy and proposed increasing Taiwanese purchases of American goods as a strategy to address the trade deficit. A delegation led by the deputy premier, including trade and security officials, is set to initiate these discussions.

The global financial markets have also felt the impact of the U.S. tariffs. Major indices, including the S&P 500, Dow Jones, and Nasdaq, have experienced declines ranging from 2% to 2.5%. In Asia, markets have been particularly affected, with Hong Kong’s Hang Seng index dropping by 13.2% and Taiwan’s TAIEX falling by 9.7%. Commodity markets have not been spared, with oil prices decreasing by 2.7% and cryptocurrencies such as Bitcoin and Ether also experiencing losses.

Bitcoin has experienced a notable decline, falling below the $75,000 mark, a level not seen in five months. Ethereum has also faced a substantial drop, trading below $1,500, reaching its lowest point since March 2023.

As of April 7, 2025, Bitcoin’s price stands at approximately $74,500, marking a decrease of over 10% within the past 24 hours. This decline reflects investor anxiety over escalating trade tensions between the United States and China. China’s recent imposition of retaliatory tariffs in response to U.S. measures has intensified fears of a prolonged trade conflict, potentially leading to a global economic downturn.

Ethereum has mirrored this downward trend, with its price dropping below $1,500. This represents a significant decrease from its position earlier in the year and underscores the broader market’s volatility. The decline in Ethereum’s value is partly attributed to a surge in liquidations, with approximately $890 million in crypto positions liquidated over a 24-hour period. Of these, $758 million were long positions, indicating that many traders were forced to exit their bullish bets at a loss.

The broader cryptocurrency market has not been immune to these fluctuations. Major altcoins have also seen double-digit percentage declines, emphasizing the current instability within the digital asset space. This market turbulence is occurring alongside significant downturns in traditional financial markets, particularly in Asia and Europe. For instance, Japan’s Nikkei 225 index closed 7.8% lower, while China’s Shanghai Composite Index fell by over 7.3%. These substantial drops have triggered circuit breaker events, temporarily halting trading to prevent further losses.

Technical analysis of Bitcoin’s price movement reveals the formation of a “death cross,” a bearish indicator that occurs when the 50-day moving average crosses below the 200-day moving average. This pattern suggests the potential for further declines in Bitcoin’s value. Key support levels to monitor include $74,000, $65,000, and $57,000, each corresponding to previous performance benchmarks and trendlines. Conversely, resistance is anticipated around the $87,000 mark, where significant moving averages converge.

Hong Kong’s Securities and Futures Commission has intensified its scrutiny of virtual asset platforms offering staking services, emphasizing the associated risks and potential legal ramifications. The regulatory body has observed a surge in platforms promoting high-yield returns through staking, prompting a public advisory on the matter.

Staking, a process where cryptocurrency holders delegate their assets to support blockchain network operations, has gained popularity as a means to earn passive income. However, the SFC warns that many of these staking arrangements are not regulated, leaving investors vulnerable to significant risks, including the total loss of their investments. The commission highlighted that some platforms offer returns by on-lending deposited virtual assets or engaging in other investment activities without adequate transparency.

In a statement, the SFC underscored that certain staking programs might constitute unauthorized collective investment schemes . Under Hong Kong law, promoting or operating such schemes without proper authorization is a criminal offense, potentially leading to substantial fines and imprisonment.

The regulatory focus on staking services aligns with Hong Kong’s broader efforts to establish a comprehensive framework for virtual assets. The SFC has been actively exploring the introduction of new token listings, derivatives, and margin trading to enhance the city’s position as a digital asset hub. Julia Leung, the SFC’s Chief Executive, announced plans to potentially expand the regulatory framework to facilitate the listing of new tokens exclusively for professional investors and to review existing safeguards for retail offerings.

The SFC is considering the regulation of crypto derivative trading for professional investors, aiming to facilitate efficient risk transfer within the market. Staking is another area under review, with the commission planning to establish requirements governing the custody of client assets and mitigating risks associated with staking activities.

In addition to these initiatives, the SFC has been in discussions with crypto exchange-traded fund issuers about the possibility of including Ether staking options. This move could allow ETF issuers to stake ETH and generate passive income, providing investors with additional avenues for returns. However, these discussions are ongoing, and no definitive timeline has been established for implementation.

Ethereum’s performance relative to Bitcoin has declined significantly, with the ETH/BTC trading pair reaching its lowest level since March 2020. This downturn reflects Ethereum’s struggle to keep pace with Bitcoin’s recent market dominance.

The ETH/BTC ratio, a key indicator of Ethereum’s value compared to Bitcoin, has fallen to approximately 0.031. This means one Bitcoin is now equivalent to about 32.26 Ether, a stark contrast to previous periods where Ethereum showed stronger performance. This decline is attributed to Bitcoin’s substantial appreciation over the past year, outpacing Ethereum’s growth.

Bitcoin has experienced a remarkable surge, appreciating by approximately 158% over the past year. Its price escalated from around $41,000 in January 2024 to over $107,000. In contrast, Ethereum’s growth has been more modest, with its price increasing by about 35% in the same timeframe, remaining approximately 32% below its all-time high of $4,878 recorded in November 2021.

Several factors contribute to Ethereum’s underperformance relative to Bitcoin. Notably, the re-election of pro-crypto President Donald Trump has been associated with a favorable outlook toward Bitcoin, potentially influencing investor sentiment and contributing to Bitcoin’s price surge. Additionally, the rise of competing smart contract platforms, such as Solana, has intensified competition in the space, drawing attention and investment away from Ethereum.

Market analysts express concerns about Ethereum’s future trajectory. The declining ETH/BTC ratio suggests a shift in investor preference toward Bitcoin, potentially impacting Ethereum’s market position. Some analysts predict that if current trends persist, Ethereum may face further challenges in regaining its previous market dominance.

Bitcoin’s price experienced a significant drop, falling from over $83,000 to below $77,000 within a 24-hour period. This abrupt decline led to the liquidation of more than $1 billion in leveraged positions, with long positions accounting for approximately $865 million of the total. The sudden downturn caught many traders off guard, resulting in substantial financial losses across the cryptocurrency market.

Data from Coinglass indicates that a total of 305,170 traders were liquidated during this period, reflecting the widespread impact of Bitcoin’s price movement on investor positions. The majority of these liquidations stemmed from long positions, where traders had anticipated a price increase. As the market moved against them, forced sell-offs occurred, further accelerating the downward momentum.

Among the affected cryptocurrency exchanges, Bybit and Binance recorded the highest liquidation volumes, with $411.54 million and $242.25 million, respectively. Bitcoin itself accounted for the largest share of the total liquidations, contributing $371.66 million. Ethereum was the second most impacted cryptocurrency, with $200.94 million in liquidations, while other crypto assets collectively accounted for over $100 million. The single largest liquidation order took place on Bitfinex, involving a $13.40 million BTC position being forcefully closed.

The high liquidation volume suggests that many traders were caught off guard by Bitcoin’s price drop. With long positions dominating the liquidations, it indicates that market sentiment was largely bullish before the downturn. This scenario underscores the inherent volatility of the cryptocurrency market and the risks associated with leveraged trading.

Despite the sharp downturn, some analysts remain optimistic about Bitcoin’s long-term trajectory. Crypto analyst Javon Marks noted that indicators still suggest Bitcoin could be gearing up for a larger bullish rally. Meanwhile, RektCapital pointed out that Bitcoin’s decline has resulted in a fully filled CME gap between $84,650 and $93,300, which could potentially lead to a price reversal in the near term.

The recent price movement also aligns with patterns observed in previous market cycles. Historically, Bitcoin has experienced significant price corrections following substantial rallies. These corrections often lead to a shakeout of leveraged positions, contributing to market volatility. However, such corrections have also been followed by periods of consolidation and subsequent recoveries.

Market analysts suggest that the current price drop may be attributed to a combination of factors, including profit-taking by long-term holders and macroeconomic uncertainties. The broader financial markets have been experiencing volatility, with investors reacting to various economic indicators and geopolitical developments. These external factors can influence investor sentiment and contribute to price movements in the cryptocurrency market.

The recent liquidation event serves as a reminder of the risks associated with leveraged trading in the cryptocurrency market. Traders employing leverage amplify their potential gains but also their potential losses. In volatile markets, sudden price movements can trigger margin calls and forced liquidations, leading to significant financial losses.

The United Arab Emirates has reaffirmed its position as the global leader in Fibre to the Home connectivity, achieving a penetration rate of 99.3%. This marks the eighth consecutive year the nation has topped international rankings, surpassing technological hubs such as Singapore, Hong Kong, China, and South Korea. The FTTH Council’s latest annual report highlights this milestone, underscoring the UAE’s commitment to advancing its digital infrastructure.

The FTTH Council’s analysis encompassed data from 20 countries with FTTH availability exceeding 50%. Singapore secured the second position with a penetration rate of 97.1%, followed by Hong Kong at 95.3%, China at 92.9%, and South Korea at 91.5%. The UAE’s leading status reflects the nation’s strategic emphasis on developing next-generation digital infrastructure to support its economic and technological ambitions.

Central to this achievement is e& UAE, formerly known as Etisalat, which has played a pivotal role in enhancing the country’s connectivity landscape. The company has consistently invested in and developed world-class infrastructure for both 5G and fibre networks. Masood M. Sharif Mahmood, CEO of e& UAE, stated that the UAE’s proactive strategies and investments in fibre connectivity are a testament to the nation’s visionary leadership and its confidence to empower people to thrive in the digital age.

The UAE’s focus on fibre connectivity is integral to its broader digital transformation agenda. The nation has continuously invested in innovation and next-generation technologies to expand and enhance its infrastructure. This robust network forms the backbone of a digital ecosystem that supports various advanced technologies, including augmented reality, robotics, and artificial intelligence.

The high FTTH penetration rate offers tangible benefits to both consumers and enterprises. For consumers, it translates to high-speed internet access, facilitating seamless experiences in gaming, streaming, and other bandwidth-intensive applications. Enterprises, on the other hand, can leverage this infrastructure to support advanced use cases, applications, and technologies, thereby driving digital transformation across various sectors.

Beyond performance enhancements, fibre connectivity contributes to energy efficiency and sustainability goals. It is also critical in advancing hyperscalers, 5G Advanced, data centre connectivity, smart cities, and AI-driven initiatives. The UAE’s commitment to fibre connectivity aligns with its vision to become a global hub for innovation and technology.

Ondo Finance’s native cryptocurrency, ONDO, is currently trading at $0.8041, reflecting a slight decline of 0.0131% from the previous close. The token’s intraday performance has seen a high of $0.8216 and a low of $0.7952.

The recent downturn in ONDO’s value aligns with escalating global trade tensions, which have introduced volatility across financial markets, including the cryptocurrency sector. Analysts are closely monitoring the $0.786 support level, considering it a critical threshold for ONDO’s short-term price stability. A breach below this point could signal further declines, while maintaining above it may indicate potential for recovery.

Technical indicators present a mixed outlook. The Relative Strength Index for ONDO stands at 41.91, suggesting that the token is neither in overbought nor oversold territory. Additionally, an uptick in trading volume during price dips points to increased selling pressure. Conversely, the proximity to the $0.786 support level offers a possibility for a rebound if buyers re-enter the market.

Ondo Finance has been proactive in bridging traditional finance with decentralized finance . The platform focuses on tokenizing real-world assets, aiming to provide institutional-grade liquidity solutions. Collaborations with prominent financial entities such as BlackRock, Franklin Templeton, and PayPal underscore its commitment to integrating conventional financial instruments with blockchain technology.

Cryptocurrency exchange FTX has disqualified approximately 392,000 customer claims after users failed to verify their identities by the March 3 deadline, potentially nullifying claims exceeding $2.5 billion. This action affects a substantial portion of creditors seeking restitution following FTX’s collapse in November 2022.

FTX creditor advocate Sunil Kavuri estimates that claims under $50,000, totaling around $655 million, and larger claims amounting to approximately $1.9 billion are subject to disqualification due to Know Your Customer violations. The KYC process, a standard compliance measure in the financial industry, requires users to provide personal identification information to prevent fraud and money laundering.

FTX’s bankruptcy proceedings have been complex and protracted. In October 2024, U.S. Bankruptcy Judge John Dorsey approved the company’s wind-down plan, allowing FTX to utilize up to $16.5 billion in recovered assets to fully repay customers. The plan prioritized customers with claims of $50,000 or less, aiming to reimburse 98% of such claimants within 60 days of the plan’s effective date.

The repayment process commenced on February 18, 2025, targeting the “convenience class” of creditors with claims under $50,000. Distributions were facilitated through cryptocurrency firms Kraken and BitGo, with customers expected to receive funds within one to three business days. FTX Recovery Trust Plan Administrator John J. Ray III acknowledged the significance of this milestone but emphasized the ongoing nature of recovery efforts.

The next phase of repayments is scheduled to begin on May 30, 2025, addressing larger claims exceeding $50,000. FTX has amassed an $11.4 billion cash reserve to fund these payments. Bankruptcy attorney Andrew Dietderich informed the court that while minor creditors have started receiving payments, the first distribution to major debt holders is set for late May.

Despite these efforts, some creditors have expressed dissatisfaction with the repayment terms. Concerns have been raised about reimbursements being based on cryptocurrency valuations from November 2022, when prices were significantly lower. For instance, Bitcoin was trading at approximately $16,000 during that period, compared to its current value exceeding $100,000. This discrepancy means that creditors might receive only 10–25% of their crypto’s current value.

Tether, the issuer of the world’s largest stablecoin, is evaluating the creation of a new digital currency designed to comply with forthcoming U.S. regulations. CEO Paolo Ardoino indicated that while USDT will maintain its focus on emerging markets, the proposed stablecoin would cater specifically to the U.S. market.

Ardoino emphasized Tether’s commitment to regulatory compliance, stating that the company is actively engaging with U.S. lawmakers to help shape stablecoin legislation. He noted Tether’s willingness to adapt its operations to align with legal frameworks, ensuring the company’s continued operation within the law.

The U.S. Congress is currently deliberating several bills aimed at regulating stablecoins. Notably, the STABLE Act, co-introduced by Representative Bryan Steil, proposes that stablecoin issuers maintain reserves consisting solely of high-quality liquid assets, such as U.S. Treasury bills and insured deposits. Ardoino confirmed Tether’s involvement in discussions regarding this legislation, highlighting the company’s proactive approach to compliance.

In addition to legislative engagement, Tether is expanding its global footprint. The company is finalizing the relocation of its headquarters to El Salvador after obtaining a digital asset service provider license there. This move aligns with El Salvador’s ambitions to become a digital currency trading hub, following its establishment of Bitcoin as legal tender.

Tether is also exploring opportunities beyond its traditional offerings. The company recently announced a partnership with Phoenix Group PLC to launch a Dirham -pegged stablecoin in the United Arab Emirates. This initiative aims to provide financial stability to individuals in high-inflation countries and enhance remittance services.

Tether is considering deeper involvement in the sports industry. The company holds a 5% stake in Italian Serie A soccer club Juventus and is open to increasing its investment if the current owners decide to sell more shares. This potential investment reflects Tether’s strategy to leverage its platform and user base to support global brands, particularly in emerging markets.

Gold-backed cryptocurrencies have experienced significant declines following the announcement of sweeping tariffs by President Donald Trump. These digital assets, which are pegged to the value of physical gold, initially surged to record highs as investors sought safe havens. However, they have since retreated, mirroring the broader market sell-off.

On April 3, 2025, President Trump unveiled a series of reciprocal tariffs, imposing a minimum of 10% on global imports and up to 49% on certain countries, including Vietnam. This move prompted immediate reactions across financial markets, with the Dow Jones Industrial Average plunging over 1,000 points, the Nasdaq dropping 3%, and the S&P 500 slumping 2.7%. The technology sector was notably affected, with major companies like Apple, Amazon, and Meta experiencing substantial losses. citeturn0news27turn0news29

In the commodities market, gold initially rallied, reaching an all-time high of $3,167.84 per ounce. This surge was driven by investors seeking refuge amid escalating trade tensions. However, the precious metal’s value soon declined, with spot gold prices falling 1.4% to $3,090.00. This reversal was attributed to investors liquidating positions to cover losses in other asset classes. citeturn0search2turn0search4

Gold-backed cryptocurrencies, which are digital tokens pegged to the price of gold, mirrored this trajectory. PAX Gold and Tether Gold both saw declines, with PAXG trading at $3,047.64, down 2.44%, and XAUT at $3,047.16, down 2.51%. These movements reflect the broader market’s volatility and investors’ shifting sentiments.

The cryptocurrency market as a whole was not immune to the turmoil. Bitcoin, the largest cryptocurrency by market capitalization, fell to the $82,000 level, marking a significant drop from its previous position near $88,000 prior to the tariff announcements. Altcoins such as Ethereum and Solana also experienced declines, with Ethereum dropping over 6% to fall back under $1,800. citeturn0search17turn0search20

Analysts suggest that the aggressive nature of the tariffs has heightened fears of a global trade war, leading to increased market volatility. The tariffs’ impact extended beyond equities and cryptocurrencies, affecting commodities like crude oil, which saw a 6.4% decline. Bond yields also dropped as investors moved towards safer assets.

Central banks’ recent activities have also played a role in the gold market’s dynamics. In February, institutions such as Poland and China increased their gold reserves, contributing to the metal’s price movements. However, the current market conditions have overshadowed these factors, with immediate reactions to trade policies taking precedence.