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Quick Take The cryptocurrency sector mirrors wider market caution, with sentiment remaining fragile ahead of the U.S. jobs report, QCP Capital analysts said. The analysts point to bearish bitcoin options activity as investors weigh economic uncertainty.
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.
- 09:33Musk Seeks Name for Grok's Male Companion, Ani Briefly Surges to $40 Million Market CapAccording to ChainCatcher, Elon Musk launched a naming contest for Grok’s male companion on the X platform. In response to the community’s suggestion of “Taki, derived from your name (Musk),” Musk replied with a heart emoji, indicating his approval. This news triggered sharp short-term fluctuations in related meme coins: Ani briefly surged to a $40 million market cap before retreating and is now at $39.19 million; the original male companion token CHAD’s market cap surpassed $2 million and is now at $2.26 million; several meme coins named “Taki” also appeared in quick succession.
- 09:22Subsidiary of Hong Kong-listed JETCO applies for license upgrade to offer virtual asset trading and related servicesAccording to Jinse Finance, as reported by Zhitong Finance, TradeGo FinTech (08017.HK) recently announced that its wholly-owned subsidiary, TradeGo Markets Limited, has decided to submit an application to the Hong Kong Securities and Futures Commission to upgrade its existing Type 1 (dealing in securities) regulated activity license. This upgrade aims to enable the provision of virtual asset trading and related services through the arrangement of opening omnibus accounts on SFC-licensed platforms. TradeGo Markets has already initiated discussions with the SFC regarding its application intentions.
- 09:20Trader Eugene: Major ETH Buying Comes from Traditional Capital, No Plans to Buy Ethereum-based Altcoins for NowAccording to Odaily Planet Daily, trader Eugene stated in a post that when deciding on the composition of his ETH positions, he specifically reviewed the historical list of “positively correlated” ETH beta tokens (i.e., altcoins that tend to outperform ETH), such as PEPE, LDO, OP, ARB, and others. Eugene believes that a significant portion of new buying interest will not come from insiders, but rather from traditional finance (TradFi) capital. Currently, inflows into ETH ETFs have reached record highs, while those ETH beta tokens have barely followed the upward trend. As a result, he has decided not to participate in the aforementioned altcoins for the time being.