Global TradFi & Macroeconomics

A cryptocurrency exchange became the first CEX to be approved for a Federal Reserve master account, but the account is restricted—access is limited to the Fedwire payment system, and it cannot earn interest. This move has sparked concerns about financial risk and transparency in the U.S., and regulatory experts warn it could affect financial stability. The exchange said it is complying with anti–money laundering requirements.

On April 10, ahead of the US stock market open, crypto-related stocks generally rallied, with CRCL up 1.7%, MSTR up 0.14%, SBET up 0.78%, and ABTC up 1.35%. msx.com is a decentralized RWA trading platform that has launched multiple RWA tokens.

Analyze market expectations before the release of the U.S. March CPI data, divergences in the inflation structure, and the potential transmission pathways to crypto assets’ risk appetite.

TSL is secretly developing a small SUV called NV91/NV93, with a length of 4.28 meters, and production costs that are at least 20% lower than the facelifted Model Y. The car is planned to go into mass production in China in mid-2026. Internally, it is positioned as “autonomous driving with a manual driving option retained,” and it is also intended to serve the mass market and the self-driving ecosystem. The production plan will be carried out in three phases, and then it will be rolled out to the United States and Europe.

Gate News message, on April 10, according to Alternative data, the crypto fear and greed index today is 16, up 2 points from yesterday’s 14, with the market’s “fear” sentiment slightly easing. The index threshold range is 0-100; based on an overall assessment of market sentiment, its components include: volatility (25%), market trading volume (25%), social media buzz (15%), market surveys (15%), Bitcoin’s share across the entire market (10%), and Google trending search analysis (10%).

Gate News message, April 10, the Kremlin issued a statement regarding special envoy Dmitryev’s visit to the U.S. The Kremlin said that this trip was not a restart of peace talks on Ukraine, and that Dmitryev did not negotiate on the Ukraine issue. The Kremlin emphasized that Russia is seeking peace rather than a ceasefire; as long as Ukraine’s President Zelensky makes a decision, peace can be achieved today. In addition, the Kremlin noted that a ceasefire for Orthodox Easter has humanitarian significance.

Bitcoin prices fell to $70,981 amid uncertainty over a U.S.-Iran ceasefire, affecting market confidence. While Bitcoin saw a minor decrease, altcoins like Ether and Solana faced sharper declines, and global risk assets struggled with tightening monetary policy.

ING analyst Francesco Pesole said that if U.S. March CPI were to accelerate sharply due to energy prices rising after the Iran war, the dollar could receive support. He noted that whether core inflation shows any second-round effects will be crucial for the Federal Reserve’s policy in the coming months.

Gate News message, on April 10, according to market news, a chief adviser to Ukrainian President Volodymyr Zelensky said that Ukraine and Russia have reached reciprocal commitments for a short ceasefire during Easter.

Gate News update. On April 10, a senior Lebanese official said that Lebanon plans to take part in a meeting in Washington next week to discuss and announce a ceasefire. The official noted that the ceasefire is a prerequisite for further negotiations.

On April 10, Hyperinsight data shows that on the Hyperliquid platform, 14 million-level mega whales established crude oil positions: 10 opened WTIOIL long positions, and 4 opened BRENTOIL long positions. All are in the long direction, and there are no new shorts entering the market. The WTIOIL long mega whale liquidation price is $87.7, with an open position size of $5.02 million; the BRENTOIL mega whale liquidation price is $87.2, with an open position size of $1.91 million.

Bitcoin treasury company Nakamoto is seeking shareholder approval for a reverse stock split plan to address the ongoing decline in the share price and maintain its Nasdaq listing qualification. The company plans to combine shares at a ratio ranging from 1-to-20 to 1-to-50. The current share price is about $0.22, down roughly 99% from its peak. At the same time, Nakamoto has sold about 5% of its Bitcoin holdings for liquidity management.

Morgan Stanley’s Bitcoin ETF “MSBT” has officially launched, becoming the first such product issued by a large bank. The management fee is as low as 0.14%. It pulled in $34 million on day one, indicating strong market demand for low fees and adviser-channel distribution. This move marks traditional financial institutions moving fully into the crypto-assets market, with competitive focus shifting to fees, liquidity, and the ability to reach customers.

The amendment to the Financial Instruments and Exchange Act passed by the Japanese government first clearly defines cryptocurrency as a financial instrument, and introduces an insider trading prohibition and an obligation to disclose annual information. This marks a new stage in cryptocurrency regulation. It is expected to take effect in 2027 and establishes core rules such as prohibiting insider trading, mandatory disclosure, and enhanced penalties. In addition, the plan includes reducing cryptocurrency tax rates and opening the door to ETFs, to promote market transparency and investor protection.

CME Group will begin offering 24/7 trading for crypto futures starting May 29, and will also add AVAX and SUI futures, showing that traditional finance is rapidly moving closer to the crypto market. This move not only meets market demand for round-the-clock trading, but also serves as a test of whether traditional financial assets can operate 24/7 in the future. The new futures contracts will provide more flexible options and capital efficiency, further expanding CME Group’s crypto product line.

On April 10, Abraxas Capital closed out short positions of about $160 million in WTIOIL and BRENTOIL on the Hyperliquid platform, generating roughly $10.15 million in profits. Its current main positions are a $20.5 million long position in BTC and a $30.8 million short position in gold.

Gate News message: On April 10, the Hong Kong Monetary Authority will announce today at 5:00 p.m. the list of the first stablecoin issuer licensees. Driven by expectations of regulatory positives, Conflux (CFX) surged strongly in the short term. According to market data from a certain trading platform, CFX opened today at $0.0518, and the intraday high reached $0.0557. The gain for the day was 7.5%.

Musk is pushing SpaceX to build its own semiconductor packaging plant in Texas, but due to low yields and a shortage of talent, the mass production timeline has been pushed back to 2027. Taiwan’s supply chain, however, has benefited from SpaceX’s continued orders, including companies such as Innolux and Walsin. SpaceX plans to visit Taiwan in April to further strengthen cooperation. However, the talent shortage facing Texas remains an obstacle to successful vertical integration.

Gate News: According to the latest Gate TradFi data, LI (Li Auto) has surged by 2% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.