Bitget Daily Digest (4.24)｜New US SEC Chairman Supports Crypto, Top $TRUMP Holders to Dine with Trump

Bitget App

Trade smarter

Bitget

News

View original

远山洞见2025/04/24 01:38

By:远山洞见

Bitget Daily Digest (4.24)｜New US SEC Chairman Supports Crypto, Top $TRUMP Holders to Dine with Trump image 0

Today's Preview

1. The initial jobless claims for the week ending April 19 in the US (in thousands) will be released today, with a previous value of 215K.

2. Lending protocol Dolomite to conduct TGE, airdropping 20% of DOLO.

3. The Dubai Financial Services Authority's tokenized regulatory sandbox closes applications today.

Key market highlights

1. Fed's Hamak states recent market turbulence is the result of risk transfer, with operations still normal. He notes the Fed's intervention threshold is "exceptionally high" with no current need for action. Hamak stresses that investor repositioning amid volatility is standard, and market-led price discovery should occur. He also mentions economic uncertainty prompting business pauses.

2. New US SEC Chair Paul Atkins pledged to establish a solid regulatory foundation for digital assets through reasonable, coherent, and principled methods, aiming to transform how financial regulators oversee digital assets into a "rational" manner. He is committed to ensuring the US remains "the best and safest place" for crypto operations and activities.

3. TRUMP Meme coin stated on social media that on May 22, the top 220 TRUMP token holders will dine privately with President Trump at the Trump National Club in Washington, D.C. The top 25 holders will be invited to an exclusive pre-dinner reception. Additionally, a special VIP White House tour is scheduled for these whales. Moreover, the first unlocked tokens and daily release portions for the following three months will remain locked for an additional 90 days.

4. Earlier in March, Trump signed an executive order calling for the establishment of a national Bitcoin reserve and strategic reserves of other tokens, requiring the Treasury Secretary to submit a legal and investment feasibility assessment within 60 days. With less than two weeks remaining until the order's deadline, further details of the US Bitcoin reserve are anticipated, possibly acting as a catalyst for the recent crypto asset rally.

5. Ethereum Foundation protocol support head Tim Beiko stated that the Pectra upgrade will go live on the mainnet on May 7, at an expected epoch height of 364032. The Pectra upgrade introduces EIP-7702, allowing standard Ethereum accounts (EOAs) to expand smart contract functionalities, supporting use cases like batch transactions, gas sponsorship, or social recovery. For stakers, Pectra introduces increased effective balance for validators.

Market Trends

1. $BTC has narrowed short-term fluctuations, with the market largely gaining; $TRUMP spiked to $16 influenced by the dinner announcement for holders but then fell back. Various memecoins and ai+ concepts saw successive increases.

2. US stocks' major indexes gave up nearly half of intraday gains; Tesla rose over 5%, with Chinese concept indices up nearly 3% outperforming the market; gold and oil fell sharply, once down over 4%.

Bitget Daily Digest (4.24)｜New US SEC Chairman Supports Crypto, Top $TRUMP Holders to Dine with Trump image 1

3. In Bitget's BTC/USDT liquidation map, using the current 93,320 USDT as a reference, a drop of a thousand points to around 92,320 would result in cumulative long liquidation exceeding $169 million. An increase of a thousand points to around 94,320 would lead to cumulative short liquidation exceeding $99 million. Long liquidation amounts exceed shorts, suggesting a prudent leverage ratio management to avoid large-scale liquidation amid market changes.

Bitget Daily Digest (4.24)｜New US SEC Chairman Supports Crypto, Top $TRUMP Holders to Dine with Trump image 2

4. In the past 24 hours, BTC spot had $3.1 billion inflow and $3.3 billion outflow, resulting in a net outflow of $200 million.

Bitget Daily Digest (4.24)｜New US SEC Chairman Supports Crypto, Top $TRUMP Holders to Dine with Trump image 3

5. Futures trading in the past 24 hours for $BTC, $XRP, $SOL, $DOGE, $PEPE showed net outflows leading, suggesting possible trading opportunities.

Bitget Daily Digest (4.24)｜New US SEC Chairman Supports Crypto, Top $TRUMP Holders to Dine with Trump image 4

Institutional Insights

Matrixport: Bitcoin uptrend continues, market sentiment warming

Original link: https://x.com/Matrixport_CN

Glassnode: $97,000 may be a critical resistance level for BTC

Original link: https://x.com/glassnode

CryptoQuant: If Bitcoin hits an all-time high before Q4, will abandon cycle theory

Original link: https://x.com/ki_young_ju

News Updates

1. Russia to pilot the establishment of a cryptocurrency exchange exclusively for high-net-worth investors.

2. US SEC Commissioner: Cryptocurrency working group striving to create a regulatory framework.

3. US SEC Chair to attend and speak at the cryptocurrency roundtable on April 25.

4. US Treasury Secretary: ‘America First’ doesn’t mean the US will act alone, seeks cooperation with allies.

5. Details of the US strategic Bitcoin reserve might be unveiled in the coming weeks.

Project Developments

1. Trump to host the "Trump Dinner" for TRUMP token holders.

2. KiloEx announces resumption of operations on April 24 and will release compensation plans for affected users.

3. Canary registered a SEI ETF supporting staking in Delaware, USA.

4. Synthetix founder: will issue 170 million SNX, with perpetual contracts V4 deploying on the mainnet in Q2.

5. PayPal plans to offer an annual yield of 3.7% to promote the adoption of stablecoin PYUSD.

6. Polygon partners with Pyse to launch an electric vehicle tokenization project in Dubai, plans to enter the Indian market.

7. Floki partners with Softbank’s partner Rice Robotics to tokenize AI data.

8. Solana Foundation to implement a delegator plan to enhance decentralization by adding and removing validators.

9. Ethereum L2 network Scroll launches the "Euclid" upgrade, pledging to boost network throughput and security.

10. DWF Labs partners with Mask Network and invests $5 million to purchase $MASK tokens.

Highlights on X

I. Yuyue: No panic missing out, on-chain warming and meme coins are the right paths

Even if you missed the main rise of $BTC, there’s no need to worry. As on-chain sentiment revives, both AI Agent narratives and meme segments have seen multiple targets double recently, such as $ALCH, $ZEROBRO, and $AVA, validating the focus has returned to the AI+Meme track. Currently, "sitting tight" and participating in the new targets on SOL chain and BSC (like $Italianrot, $SKYAI), and reviving some continuous projects (such as $FREYA, $TrenchAI, $LISTEN, $ANON etc.), executing the strategy of "buy the dip, sell after doubling". Holding steady positions in $BTC + $SOL is a reasonable combination for the new wave of on-chain gold mining.

Original link: https://x.com/yuyue_chris/status/1914964355759890867

II. 0xWizard: Market returns to narrative-driven, Political Memes and AI as main themes

In the current market, projects that can "make sense" are more likely to attract liquidity. In political memes, only $TRUMP and $PNUT have made it to major exchanges. If the market remains strong for months, election-related political memes will remain key themes. Technical narratives mainly focus on AI, especially projects with product launches or PMF. Conversely, many recently pumped small tokens lack logical explanation, can only be classified as manipulated tokens lacking narrative support, and struggle to sustain attention and funding.

Original link: https://x.com/0xcryptowizard/status/1915084891089486220

III. Crypto_Painter: Softbank’s return to Bitcoin? This time betting $900 million in a group

Softbank, alongside Tether, Bitfinex, and Cantor Fitzgerald, established "Twenty One Capital" (TOC) to collectively pool around $900 million for Bitcoin, intending to hold about 42,000 Bitcoins, becoming the third largest enterprise-level BTC holder globally. Unlike MicroStrategy's dominated approach, TOC is a collective effort, with funding from equity financing and convertible notes. This setup is viewed as a lighter version of the "MicroStrategy model," which offers additional liquidity support if BTC continues to rise, but also poses de-leverage risk if prices reverse. Compared to Softbank’s high-buy, low-sell in 2018 by Masayoshi Son, this time seems more cautious and organized.

Original link: https://x.com/CryptoPainter_X/status/1915171377872855160

IV. Tony Wu: Primary market clearance, dollar funds transformation: Insight from industry bottom for the next three years

As early-stage dollar funds face unprecedented lows, more practitioners are forced to exit, and industry sentiment nears freezing point. The author suggests "globalization + digitalization + product matrix" is the way to break through, essentially revolving around the core logic of "wealth management for the rich" to adjust products and regional layouts. Against the blockchain primary market pessimism, he offers a counter-view: the current bottom represents clear-outs, also signaling a turning point. He perceives the blockchain primary market more as a "high cash flow, short life cycle" game-investment model, rather than an internet-based long-term user retention logic. Now is the "law cannot invest, traditional VC lagging perception" vacuum window, suitable for strategic positioning. The future focus will be on "teams that can cross cycles+real business value+new asset trading demand and supply", the directions worth betting on in the next four years.

Original link: https://x.com/Skyinseas/status/1914832181958205791

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!