Daily Market Update: April 2, 2025

BTC is currently trading around $86,400 and ETH around $1,900.  Notable gainers in the last 24 hours are EOS, DEXE and BONK.  The global crypto market cap is $2.87T, up 1.0% over the last day.  DeFi Total Value Locked is ~$96b and BTC dominance is around 63%.

Equity markets are mixed with US equities rebounding higher ahead of today’s tariff announcements.  Crypto markets, meanwhile, are little changed.

Notable news includes: the US SEC and Gemini requested a 60-day pause in their lawsuit to explore a potential resolution; the UK’s FCA approved BlackRock’s crypto asset firm registration and granted Galaxy Digital a license to execute derivatives through its London office; Fidelity Investments rolled out a new IRA plan that enables investors to make tax-advantaged crypto investments; VanEck launched an exchange traded product tracking TIA in Europe; Japanese financial group SMFG is reportedly planning to launch a stablecoin in partnership with blockchain technology firm Ava Labs; GameStop wrapped up its $1.5b convertible senior note sale and confirmed plans to use part of the proceeds to purchase Bitcoin for its treasury; Sony Singapore added stablecoin payments in partnership with Crypto.com; Kraken secured a restricted dealer registration in Canada; Circle filed for an IPO with plans to list on the New York Stock Exchange; Bitcoin miner Bitfarms entered into a $300m loan agreement with Macquarie Group to expand its HPC data centers; FDUSD experienced a depeg after Justin Sun raised concerns over First Digital’s solvency; Ripple integrated its stablecoin RLUSD into its cross-border payments system Ripple Payments; Solana DEX aggregator Jupiter acquired digital collectibles platform DRiP Haus to bolster its NFT capabilities; Sentient released OpenDeepSearch, an open source framework that enables AI agents to search the internet; and, Sei established the Sei Development Foundation, a New York based nonprofit focused on institutional adoption.