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Bitcoin has experienced a significant decline in daily selling volume on major exchanges, dropping from 81,000 BTC to 29,000 BTC, as highlighted by CryptoQuant analyst Axel Adler Jr. in an April 1 post on X.
Quick Take The Sei Foundation has launched the Sei Development Foundation to support the growth of the Sei protocol and advance crypto innovation in the U.S. Beyond supporting developers and founders, the Sei Development Foundation seeks to leverage increasing regulatory optimism to boost U.S. crypto entrepreneurship.
Fed Chair Powell expected to shift from QT toward QE focused on Treasuries Linked to Treasury financing needs discussed with Sec. Bessent; Hayes eyes summer Potential QE may support fiscal goals (deficit reduction, Trump trade policy)
- 05:52Peter Schiff: A September Rate Cut Is Not a Foregone Conclusion, Inflation May Exceed ExpectationsEconomist and cryptocurrency critic Peter Schiff stated: "A rate cut in September is not a certainty, as the inflation data to be released before the next Federal Reserve meeting may come in higher than expected. The market is rising on expectations of a rate cut, but this actually reduces the likelihood of a cut. Stronger inflationary pressures will outweigh the impact of slowing job growth."
- 05:52US SEC Updates Accounting Guidelines for Dollar Stablecoins, Some Stablecoins May Be Classified as "Cash Equivalents"According to ChainCatcher, the U.S. Securities and Exchange Commission (SEC) has updated its staff guidance on accounting rules for stablecoins. The core of the new guidance states that if a U.S. dollar-pegged stablecoin has a guaranteed redemption mechanism and its value stability is linked to another class of assets, it may be classified as a "cash equivalent." While the SEC is formulating broader cryptocurrency regulatory rules, this latest interim guidance is part of Chairman Paul Atkins' efforts to lift restrictive measures. For example, in April of this year, the SEC clarified that "covered" U.S. dollar stablecoins are not considered securities and confirmed that entities engaged in the issuance and redemption of such stablecoins do not need to register these activities with the agency.
- 05:46Animoca Brands Co-Founder: Plans to Repurchase TOWER Tokens on the Open MarketAccording to Jinse Finance, Yat Siu, co-founder and executive chairman of Animoca Brands, announced on the X platform: "We are making a public commitment to support the Tower ecosystem, with the first initiatives including the launch of a token buyback. The Web3 gaming sector is vibrant and crucial to the development of on-chain economies. As stated in our announcement regarding CTA earlier this year, we will purchase TOWER tokens on the open market."