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Quick Take A16z-backed Story Protocol, a Layer 1 network built for IP management, has unveiled details of the tokenomics for its native token ahead of a mainnet launch. Of an initial supply of 1 billion IP tokens, 58.4% will be “allocated to the community across initial incentives, ecosystem, and foundation, ensuring broad participation and decentralized ownership.”
Quick Take Despite the volatility, we can’t help but stay bullish on crypto’s future. This column is adapted from The Scoop newsletter.
Quick Take Florida Republican Senator Joe Gruters filed a bill on Friday proposing that the state be allowed to invest in bitcoin and other cryptocurrencies. Gruters’s bill outlines that Florida’s CFO’s investments “in Bitcoin may not exceed 10% of the total funds in any account.”
Quick Take The SEC said it will decide on April 9, 2025 whether to approve or disapprove allowing options trading on BlackRock’s iShares Ethereum Trust. Also on Friday, the SEC asked for public comments on a proposal to list and trade options on Fidelity’s spot Ethereum ETF.
Quick Take Telegram game user retention rates “hovered at 5–20%, far below traditional gaming benchmarks” of 20% to 30%, according to a report from Helika. Disappointing airdrops, in particular the one launched by “Hamster Kombat,” caused the “euphoria” around Telegram tap-to-earn games to dissipate, the analytics firm also said.
- 22:45Trump: Federal Reserve Officials Perform Poorly; I Am More Insightful Than the Fed ChairAccording to Jinse, U.S. President Trump stated that Federal Reserve officials are performing poorly. I am more insightful than the Fed Chair. I wish to be courteous and considerate towards the Federal Reserve. I have no intention of criticizing the Fed Chair.
- 22:45Goldman Sachs Significantly Lowers US Q1 GDP Growth Forecast to -0.8%According to a report by Jinse, Goldman Sachs' latest research paper indicates that the US goods trade deficit in March widened more than expected. Both imports and exports of goods increased in March. The main reason for the widening trade deficit is the increase in imports of consumer goods, which may reflect a "race against time" before the tariff hikes. The details of the leading economic indicators report show that compared to our previous GDP tracking assumptions, import growth was significantly stronger, but export growth moderately strengthened, and the pace of inventory accumulation accelerated. Overall, we have lowered our tracking forecast for US first-quarter GDP by 0.6 percentage points to -0.8% (quarter-on-quarter annualized). The US GDP data will be released on the evening of the 30th.
- 22:28The Trump Administration Notifies Congress of Plans to Designate Haitian Gangs as Foreign Terrorist OrganizationsJinse reports that the Trump administration has notified Congress of its plans to designate Haitian gangs as foreign terrorist organizations.