Bitcoin Market Cap Overtaken by Saudi Aramco, Falls to 10th in Global Mainstream Assets

According to 8 Market data, as Bitcoin once dropped below $82,000, its market cap also fell to $1.631 trillion, being surpassed by Saudi Aramco (Saudi Arabian national petroleum and natural gas company; commonly known as Saudi Aramco; market cap $1.696 trillion), falling to 10th place among global mainstream assets.

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🇰🇬 Kyrgyzstan’s National Investment Agency signed an MoU with Changpeng Zhao, former Binance CEO, to develop the country’s cryptocurrency and blockchain sector. The collaboration focuses on tech support, education, and innovation, aligning with the "Digital Kyrgyzstan" strategy to drive economic growth. ✍️

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Ray Dalio Warns Tariffs Could Lead to Global Stagflation ⚠️

Ray Dalio, founder of Bridgewater Associates, cautions that the implementation of tariffs may reduce reliance on foreign supply chains but could also lead to global stagflation—simultaneous inflation and economic stagnation. He emphasizes that while tariffs might bolster domestic resilience during geopolitical tensions, they can also decrease efficiency and elevate costs. Dalio further warns that escalating debt levels in countries like the U.S. and U.K. could result in a "debt death spiral," necessitating significant policy interventions to avert economic instability.

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Bitcoin rebounded and broke through $83,000, now trading at $83,340.💰

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Yesterday, the US Bitcoin Spot ETF saw a net outflow of $99.8 million & the U.S. Ethereum Spot ETF saw a net outflow of $3.6 million🕯

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Bithumb’s former CEO Lee Sang-jun received $3.5m in 2024—including a $1.4m bonus, $1.5m in retirement benefits, and a $320,000 base salary—despite being incarcerated.

In December 2024, prosecutors accused him of accepting $20m in cash. While the court acquitted him of that charge, it upheld a bribery conviction involving non-cash favors and sentenced him to two years in prison.

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China has announced a 34% tariff on U.S. goods, set to take effect on April 10.

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🗞 April 4, 2025 cryptocurrency news highlights

【Cryptocurrency】
🇰🇬 Kyrgyzstan’s National Investment Agency signed an MoU with Changpeng Zhao, former Binance CEO, to develop the country’s cryptocurrency and blockchain sector. The collaboration focuses on tech support, education, and innovation, aligning with the "Digital Kyrgyzstan" strategy to drive economic growth. ✍️

【Economy】
China has announced a 34% tariff on U.S. goods, set to take effect on April 10.

【Indicators】
Bithumb’s former CEO Lee Sang-jun received $3.5m in 2024—including a $1.4m bonus, $1.5m in retirement benefits, and a $320,000 base salary—despite being incarcerated.

【More】
Ray Dalio Warns Tariffs Could Lead to Global Stagflation ⚠️

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The USDC Treasury has burned 50 million USDC on the Ethereum blockchain, with a total of approximately 150 million USDC burned today.💣

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🚨 U.S. Stock Market Plummets: $3.5T Lost in 2 Days

The U.S. stock market plummeted, losing $3.5 trillion in two days, with the S&P 500 falling over 8%—its biggest two-day drop since the 2020 pandemic. The Nasdaq 100 has now entered bear market territory.

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💰 Tether CEO Calls for New U.S. Stablecoin Amid Legal Woes

Tether's CEO, Paolo Ardoino, suggests the U.S. needs a new stablecoin as Tether (USDT) faces increasing legal challenges and regulatory scrutiny. The company is dealing with multiple lawsuits, including one alleging market manipulation, prompting discussions about the future of stablecoins in the U.S. market.

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Yesterday the US Bitcoin Spot ETF saw a net outflow of $64.9 million & the US Ethereum Spot ETF saw a net inflow of $2.1 million🕯

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Bitunix analyst: Powell releases a hawkish signal, market liquidity is expected to decrease, BTC may test $80,000 again 💸

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FTX will dismiss about $2.5 billion in claims related to identity verification errors

FTX said that about $2.5 billion in customer claims were canceled because nearly 400,000 users failed to complete identity verification (KYC) by March 3. According to the documents of the Delaware Bankruptcy Court on April 2, 392,000 claims have been completely dismissed and deleted, involving up to 2,377 pages.

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Morgan Stanley predicts that Apple's supply chain will be hit hard by tariffs, and mobile phone prices may soar 📊

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🗞 April 5, 2025 cryptocurrency news highlights

【Cryptocurrency】
The USDC Treasury has burned 50 million USDC on the Ethereum blockchain, with a total of approximately 150 million USDC burned today.💣

【Economy】
Morgan Stanley predicts that Apple's supply chain will be hit hard by tariffs, and mobile phone prices may soar 📊

【Indicators】
Bitunix analyst: Powell releases a hawkish signal, market liquidity is expected to decrease, BTC may test $80,000 again 💸

【More】
💰 Tether CEO Calls for New U.S. Stablecoin Amid Legal Woes

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A whale has undelegated 10,321 ETH and deposited it into Binance, equivalent to around $18.46 million.🤕

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⤴️ JPMorgan Raises Recession Risk to 60% Amid Trade Tensions

JPMorgan has increased the probability of a U.S. recession to 60% by 2025 due to President Trump's new tariffs, which are seen as a significant economic shock. The tariffs could raise taxes on U.S. consumers and businesses, leading to declines in stock markets and greater economic uncertainty.

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