Tariff Rumors Rock Markets
Rumors that President Trump would delay tariffs for 90 days sent markets into turmoil Monday morning. The Nasdaq bounced from a 5% loss to a 5% gain before returning to neutral, while Bitcoin surged from $74,400 to over $80,000.
The White House dismissed the rumor as “fake news.” BTC is down 4.3% in 24 hours, Ether is down 11%, and XRP is down 9.3%. Meanwhile, European Commission President Ursula von der Leyen created short-term optimism in the markets by stating that they are open to a zero-tariff agreement with the US on industrial products.
First Leveraged XRP ETF Launches in the US
Teucrium is launching the first XRP-based leveraged ETF in the US. The fund, which will be traded on NYSE Arca with the ticker XXRP, aims to offer 2 times the daily return of XRP. The fund will receive 1.89% as a management fee and will provide its performance with swap agreements.
Since there is currently no spot XRP ETF in the US, XXRP will reference XRP ETPs traded on European exchanges. The impending resolution of the Ripple-SEC lawsuit has raised expectations for XRP ETFs, with Ripple CEO Garlinghouse expecting multiple ETFs to be approved in the second half of the year.
SEC Invites Giants Like Coinbase, Uniswap to Crypto Desk
The U.S. Securities and Exchange Commission (SEC) has invited industry giants like Coinbase, Uniswap Labs, and Cumberland DRW to a roundtable focused on crypto trading on April 11. The meeting will discuss crypto regulation under the title “Between a Block and a Hard Place.”
Representatives from these firms, which have previously been sued or investigated, will engage in direct dialogue with the SEC following the closing of cases with the Trump administration. This will be the second meeting in the SEC’s five-part “Spring Sprint Toward Crypto Clarity” series, with future discussions on custody, tokenization, and DeFi.
Former Kraken Executives Acquire Janover, Build Solana Treasury
Former Kraken executives have taken control of commercial real estate finance firm Janover by purchasing a majority stake. Joseph Onorati is set to serve as the new CEO and Chairman, while the company plans to build a large Solana treasury. The company also aims to acquire Solana validators and stake SOL.
Janover shares rose 840% on the news. The new management raised funds through a $42 million convertible note sale. Notable investors including Pantera Capital, Kraken, and Arrington Capital were among the participants. Janover had previously started accepting payments in BTC, ETH and SOL.
Fed May Have to Make an Emergency Rate Cut Before May
JPMorgan Asset Management Fixed Income Securities President Bob Michele said the recent market crash resembled the crises of 1987, 2008 and 2020, and suggested that the Fed could make an emergency rate cut without waiting for the May meeting. The US stock market lost more than $5 trillion in value in two days after Trump’s new tariffs.
Michele said that companies with low credit scores were already struggling, and a major economic shock was approaching with rising borrowing costs and falling sales. According to CME data, markets still see June as the most likely date for a rate cut. However, Michele said, “The Fed cannot wait on the sidelines.” he called for urgent action.
Strategy Loses $6 Billion, Bitcoin Purchases Halted
Strategy (formerly MicroStrategy), known for its aggressive investments in Bitcoin, spent $7.66 billion by purchasing 80,715 BTC in the first quarter of 2025. However, the 11.82% drop in the BTC price at the end of the quarter led to an unrealized loss of $5.91 billion in the company’s portfolio. The company, which held 528,185 BTC as of March 31, has not made any new purchases so far in the second quarter.
According to the 8-K document filed with the U.S. Securities and Exchange Commission (SEC), the company did not purchase new BTC between March 31 and April 4 due to the halt in investment interest in MSTR and STRK shares. In addition to Bitcoin’s weak performance, the sharp sell-off in global markets after “Liberation Day” caused MSTR shares to fall by more than 8%.
Trump Reiterates Call for Fed to Cut Rates, Says There’s No Inflation
President Donald Trump has once again called on the Fed to cut rates. In a post on Truth Social, he drew attention to the decline in oil and food prices and said, “There’s no inflation.” He also emphasized that the US earns billions of dollars in weekly revenue with the increased tariffs on China.
With the additional taxes implemented last week, the total tariff rate on China increased to 54%. China responded with a 34% retaliatory tariff. Following these developments, Nasdaq futures fell to their lowest level since January 2024, while Bitcoin fell below $75,000. Oil prices have fallen 16% in the last four trading days, falling to $60.
US Lawsuit Filed to Reveal Identity of Satoshi Nakamoto
Crypto lawyer James Murphy (MetaLawMan) has filed a FOIA lawsuit against the US Department of Homeland Security (DHS) seeking to reveal the identity of the mysterious creator of Bitcoin, Satoshi Nakamoto. Murphy cited a DHS official’s claim at a conference in 2019 that they had identified Nakamoto and met face to face.
Murphy argues that any internal DHS memos, emails or documents showing that Nakamoto met with him should be made public. He said he will continue the legal fight if DHS does not voluntarily share the documents. The crypto community, on the other hand, sees Satoshi’s anonymity as a fundamental part of Bitcoin’s decentralized structure.
SEC Approves Galaxy Digital, Countdown Begins for Nasdaq Listing
Galaxy Digital has received SEC approval for a Delaware-based restructuring instead of the Cayman Islands. This step is seen as one of the final steps that must be taken for the company to be listed on the Nasdaq exchange. Shareholders will approve this transformation in a vote to be held on May 9.
CEO Mike Novogratz announced that they aim to be traded on Nasdaq with the ticker “GLXY” shortly after the vote. The company argues that this change will provide legal and administrative efficiency; Novogratz will continue to hold 60% of the voting rights. During the transition period, both Nasdaq and the Toronto Stock Exchange will be traded simultaneously.
Trump-Backed WLFI Plans Airdrop to Test USD1 Stablecoin
World Liberty Financial (WLFI), backed by Trump and his sons, has proposed a small-scale airdrop to existing WLFI holders in order to test its stablecoin called USD1. The distribution aims to test the project’s on-chain airdrop infrastructure in a live environment and reward early supporters.
The airdrop will take place on the Ethereum network, and all WLFI holders will receive a fixed amount of USD1. The distribution amount will be determined by the number of eligible wallets and budget. The company will shape the plan based on community feedback and voting. It also said it could cancel the test if necessary. WLFI announced last month that USD1 would initially be available to institutional and government-level investors.
Ark Invest Buys Coinbase Stake Amid Market Crash
Ark Invest, led by Cathie Wood, bought 84,514 shares of Coinbase amid global market volatility, investing about $13.3 million in the company. The shares were purchased through its ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) funds.
On the same day, the ARKW fund sold $12.4 million worth of ARK 21Shares Bitcoin ETF (ARKB) shares, while Coinbase shares were among the funds’ largest positions, with 5.92% in ARKW and 7.65% in ARKF. Coinbase stock fell 2.04% by the end of the day and rose 2.68% in after-hours trading. This move shows that Ark maintains its long-term belief in Coinbase.
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BITCOIN (BTC)
BTC is trading at $79,600 as of the morning hours, gaining 0.56%. With the reaction it received from the 76,600 level, it is approaching the 80,000 resistance. This level coincides with both psychological resistance and short-term falling trend resistance. If it is sustained above 80,000, the 88,765 level can be targeted. However, with the sales to be seen from here, the price may be pulled back to the 76,600 support. Price behavior in this region will be decisive for the short-term direction.
ETHEREUM (ETH)
ETH is priced at $ 1583 with a 1.92% gain as of the morning hours. It is trying to hold on to the important support area at 1585. This level also stands out as a demand area that has been heavily traded in the past. For the continuation of the upward movement, closing above 1600 should be monitored. Otherwise, selling pressure may increase again and the price may pull back towards the 1500 region. If the rise continues, 1768 and 1853 levels should be monitored as resistance.
RIPPLE (XRP)
XRP is traded at $ 1.88 as of the morning hours with a loss of 0.68%. After the sharp decline, it reacted at the 1.75 level and entered the short-term consolidation zone. The 1.90 level is watched as a close resistance. A volume break of this region may carry the price back to the liquidity region above 2.00. However, a rejection movement from this region may cause declines below 1.80 again. The possibility of fluctuation in the horizontal band seems high.
AVALANCHE (AVAX)
AVAX is traded at $ 17.31 with a 3.78% increase in value as of the morning hours. It received a strong reaction from the 15.27 support and rose to 17.32. Selling pressure is likely to be seen as this area coincides with both horizontal resistance and the previous liquidity area. The main resistance level is 17.74. If the price breaks here, there is a potential for an increase to 21.88. However, sales at these levels may cause a pullback to the 16.47 and 15.27 supports.
SOLANA (SOL)
SOL is traded at $110.65 with a 3.43% gain as of the morning hours. The 110-112 region now acts as resistance, with the previous support level broken. The price has made a reaction purchase up to this region and there is a high probability of rejection here. If a downward pressure continues, 104 and 100 levels can be monitored as short-term support. Closing above the 112 level will be critical for the continuation of the upward movement.
