4.6 AI Daily Report: Global financial markets are volatile, and Crypto Assets have become the new focus.

1. Headlines

1. Trump's new tariff policy causes global turmoil, Bitcoin becomes a safe haven asset

The Trump administration recently announced a new global tariff policy, causing severe turbulence in the global financial markets. The US stock market evaporated over $6.6 trillion in market value within two days, setting a historical record. Meanwhile, cryptocurrencies such as Bitcoin surged against the trend, being seen as a new safe-haven asset.

Analysts believe that Trump's tariff policy will lead to uncertainty in the global economy, and countries will have to adopt stimulative fiscal and monetary policies to cope with slowing growth, thereby further devaluing fiat currencies. Against this backdrop, Bitcoin, as a decentralized digital asset, will be favored by more investors for its scarcity and value storage function.

In fact, while the U.S. stock market plummeted, Bitcoin rose over 10% in a single day, reaching a new high for the year. Industry analysts expect that Bitcoin will continue to receive an influx of funds, with the potential for significant price increases in the medium to long term. Meanwhile, regulatory agencies will also accelerate the clarification of regulations on cryptocurrencies to meet the market's demand for safety and transparency.

2. Meta releases large AI model Llama 4, challenging OpenAI's dominance.

Technology giant Meta has released its latest large AI model, the Llama 4 series, directly challenging models like OpenAI's GPT-3. Llama 4 boasts powerful multimodal capabilities, capable of handling various forms of data input including text, images, and videos.

Meta emphasizes that Llama 4 has been trained on a large amount of unlabelled data, possessing extensive visual understanding capabilities. The series includes three models of different sizes: Scout, Maverick, and Behemot, to meet the application needs of different scenarios.

Industry analysts believe that the release of Llama 4 marks Meta's increased investment in the field of artificial intelligence, aiming to compete with companies like Google and OpenAI. Large AI models have become the new battleground for tech giants, and future applications will be deployed in more areas.

At the same time, the enhancement of AI model capabilities has also raised concerns regarding privacy, security, and other aspects. Regulatory bodies and the public are calling for attention to ethical reviews and risk assessments of technology while promoting AI development, in order to avoid negative impacts.

3. Canon launches the NFT art market Cad, embracing the digital art era.

The well-known camera manufacturer Canon has officially entered the NFT space, launching a digital art marketplace called "Cad." The platform aims to connect photographers with collectors, supports multiple payment methods, and offers physical printing services.

Canon stated that Cad will operate on the Ethereum blockchain, utilizing NFT technology to ensure the uniqueness and ownership of digital artworks. In the future, the platform will also support emerging fields such as virtual fashion, providing designers with innovative display and sales channels.

Analysts believe that the entry of traditional enterprises will further promote the development of the NFT market. Digital art, with its unique ownership attributes and transaction convenience, is reshaping the circulation model of artworks. In the future, NFTs are expected to play a greater role in areas such as copyright protection and digital identity.

At the same time, there are views that the NFT market currently still has a significant speculative atmosphere, and more practical application scenarios need to be nurtured in order to achieve substantial development. Regulatory authorities are also conducting research on the regulatory issues surrounding NFTs.

4. The number of blockchain startups in Africa has decreased, while technology finance venture capital has increased by 17%.

According to the latest statistical data, the number of startups focusing on the African blockchain sector decreased by 5.5% in 2023 compared to 2019, dropping from 45 to 37. Among them, Nigeria ranks first in Africa with 21 startups.

In contrast, African fintech startups grew by 17.7% in 2023, reaching a total of 678, with significant growth particularly in Egypt and Nigeria. Analysis indicates that this trend reflects a cooling enthusiasm among investors for blockchain technology, but a sustained increase in attention towards fintech.

Africa is seen as the next important hub for technological innovation, with blockchain and fintech expected to help address issues such as local financial inclusion. However, at the same time, local regulatory environments and infrastructure factors also pose challenges for startups.

Industry insiders say that to truly unleash Africa's innovative potential, joint efforts from governments, businesses, and all sectors of society are needed to provide a good development environment for startups. They also call for increased investment in emerging technologies such as blockchain to nurture more innovative projects.

5. The head of the Central Bank of Russia once again calls for restrictions on the use of cryptocurrency domestically.

Elvira Nabiullina, the Governor of the Central Bank of Russia, emphasized again during her speech at the State Duma that the use of cryptocurrencies in the domestic economy of Russia should be restricted, and penalties for violations should be increased.

Nabiullina stated that Russia is advancing the development of the digital ruble as a sovereign digital currency. She suggested allowing qualified investors to invest in crypto assets within a regulatory sandbox, but emphasized the need to protect retail investors from the risks associated with the highly volatile crypto market.

At the same time, there are disagreements within the Russian State Duma regarding the regulation of cryptocurrencies. Some members support taking restrictive measures, while others show a strong interest in cryptocurrencies. Analysts point out that the direction of Russia's cryptocurrency regulatory policy will have a significant impact on the development of the country's digital economy.

Around the world, there are significant differences in how countries treat cryptocurrencies. Supporters believe that cryptocurrencies are beneficial for financial innovation, while opponents are concerned about the risks and challenges they pose. In the future, formulating clear and unified regulatory policies will be a major issue for governments worldwide.

2. Industry Data

1. PI

The recent transaction price of PI is $0.6062, with a daily increase of 9.80%.

2. BTC

The recent transaction price of BTC is $83,527.5000, with a daily decline of 0.70%.

3. ETH

The recent transaction price of ETH is $1813.1200, with a daily decrease of 0.30%.

4. GUN

The recent trading price of GUN is $0.0444, with a daily increase of 1.90%.

5. GT

The recent transaction price of GT is $22.4940, with a daily increase of 1.50%.

3. Industry News

1. Bitcoin price remains around $84,000, market sentiment is cautiously optimistic.

The price of Bitcoin has remained relatively stable over the past 24 hours, hovering around $84,000. Despite facing pressure from geopolitical tensions and global economic uncertainties, Bitcoin has still shown resilient resistance to declines. Analysts believe that Bitcoin, as a decentralized digital asset, may attract more investors as a store of value during turbulent times.

However, the decline in trading volume and the weakness in technical indicators suggest that market sentiment remains cautious. Investors are closely watching whether Bitcoin can break through the key resistance level of $88,000. If it can successfully break through, it may trigger a new wave of bullish sentiment. However, if it fails, Bitcoin may face the risk of falling back to $80,000.

Overall, despite the uncertainty in the short term, the long-term outlook for Bitcoin remains positive. Analysts generally believe that Bitcoin, as an emerging asset class, will gain broader recognition and adoption in the coming years.

2. Ethereum faces rejection, showing divergence signals.

The price of Ethereum has slightly declined in the past 24 hours, encountering resistance around $1800. Although Bitcoin and other cryptocurrencies remain relatively stable, Ethereum has failed to follow the overall market trend. This divergence signal has attracted market attention.

Analysts note that Ethereum's price action may have been affected by the upcoming Shanghai upgrade. Investors have some doubts about whether the upgraded Ethereum network will be able to operate smoothly, which may limit the upside of the price.

On the other hand, the decline in activity within the Ethereum ecosystem may also be one of the reasons for the soft prices. Data shows that the number of active addresses and transaction volume on Ethereum have both decreased, which could affect investor confidence.

However, in the long run, Ethereum, as a leading smart contract platform, still has promising development prospects. With the launch of more applications and the improvement of the ecosystem, Ethereum is expected to regain the favor of investors.

3. Solana faces significant congestion, raising concerns about its transaction processing capability.

The Solana blockchain network has experienced serious congestion issues in the past 24 hours, leading to a significant decrease in transaction processing capacity. This incident has raised questions in the market about Solana's scalability.

According to the data, the Solana network experienced severe congestion on the evening of April 5, resulting in a significant decrease in transaction processing speed. Some users reported that their transactions had to wait for several hours or even days for confirmation.

The Solana Foundation subsequently released a statement acknowledging the issue of network congestion and stated that it is working to resolve it. However, this incident has raised market concerns about Solana's scalability.

Analysts point out that Solana has always prided itself on high throughput and low transaction fees, but this incident has revealed its vulnerability under high load conditions. If this issue cannot be resolved, Solana may lose its competitive edge as a high-performance blockchain.

Meanwhile, the price of Solana's SOL token has seen a slight decline following the incident. However, due to investors' confidence in the Solana team, the drop is not significant. Whether Solana can resolve this issue in the future will determine its long-term development prospects.

4. Dogecoin's upward momentum slows, the meme coin craze may cool down.

The highly watched Dogecoin (DOGE) has seen a slight pullback in the past 24 hours, raising concerns in the market about whether the meme coin frenzy will cool down.

Data shows that the price of DOGE has dropped by about 3% in the past day, currently trading around $0.11. Although the decline is not too significant, this pullback has broken DOGE's recent upward trend.

Analysts believe that the recent pullback of DOGE may be due to profit-taking by investors. After several weeks of significant price increases for DOGE, some investors chose to lock in profits, leading to selling pressure in the short term.

On the other hand, some analysts believe that the meme coin craze may be nearing its end. As more and more investors flood into this space, the prices of meme coins may have been overhyped. Without real use cases to support them, meme coins could face significant downward risks.

However, some analysts hold an optimistic view on this. They believe that meme coins represent a brand new cryptocurrency culture, and the power of the community behind them cannot be ignored. As long as the community remains vibrant, meme coins have the potential to continue to rise.

Overall, the future trend of meme coins still has a lot of uncertainty. Investors need to remain cautious and closely monitor market dynamics.

4. Project News

1. Gensyn testnet is online, AI training is moving towards greater efficiency and decentralization.

Gensyn is a distributed AI computing network, led by the well-known venture capital firm a16z, with a total funding scale of 50 million USD. Recently, Gensyn officially launched its testnet, marking a new phase for the project.

Gensyn aims to leverage blockchain technology and distributed computing to create an efficient, decentralized AI training infrastructure. By distributing the AI model training process across global nodes, Gensyn can fully utilize idle computing resources, significantly reducing training costs. At the same time, the decentralized architecture ensures data privacy and model fairness.

After the test network goes live, developers can deploy and train their own AI models on the Gensyn network. Gensyn has adopted an innovative incentive mechanism, attracting more nodes to join by distributing token rewards. This is expected to promote the democratization and decentralization of AI training infrastructure.

Industry insiders believe that Gensyn has disruptive innovative potential. If successfully implemented, it will greatly lower the barriers to AI training and promote the rapid development of AI technology. However, Gensyn also faces significant challenges in technical realization and ecosystem construction.

2. Lightchain AI presale is booming, AI+We has become a new hotspot.

Lightchain AI is an innovative project that combines artificial intelligence and blockchain technology. With a presale price of only $0.007, the project has already attracted over $18.9 million in funding.

Lightchain AI aims to build a decentralized AI computing platform. By integrating idle GPU resources from around the world, it provides cheap and efficient computing power for AI model training. At the same time, Lightchain will also launch AI-assisted programming, AI data labeling, and other tools to offer one-stop services for AI developers.

The core innovation of this project lies in using blockchain technology to address pain points such as data privacy and computing power supply in AI training. Through a token incentive mechanism, Lightchain can attract more nodes to join, forming a powerful distributed computing network.

The explosive presale of Lightchain AI reflects the market's enthusiasm for the AI+We sector. Analysts believe that combining blockchain technology is expected to address many bottlenecks in AI development, making it a key direction for the future of AI. However, whether Lightchain can ultimately succeed will depend on its technological implementation and ecosystem development.

3. The Solana ecosystem is revitalized, with new projects emerging one after another.

Solana is one of the most outstanding public chains in this round of the cryptocurrency cycle. Despite a period of sluggishness, the Solana ecosystem once again demonstrated strong development vitality at the TOKEN2049 conference.

During the conference, new innovative projects continuously emerged in the Solana ecosystem, including Cub, FlashTrade, SonicSVM, Solayer Labs, Compute Labs, and more. These projects cover multiple areas such as DeFi, GameFi, and infrastructure, showcasing the diversified development trend of the Solana ecosystem.

At the same time, the Solana community has also attracted a large number of fresh blood to join. Data shows that nearly half of the attendees are participating in the Solana ecosystem conference for the first time. This reflects that the Solana ecosystem still has strong development vitality and attractiveness.

Analysts point out that the continuous innovation of the Solana ecosystem is key to its competitiveness. As a high-performance public chain, Solana has natural advantages in terms of performance, cost, and other aspects. As long as the ecosystem remains active, it is expected to attract more high-quality projects and capital to join.

However, Solana also faces fierce competition from other public chains. How to further expand the ecological scale and improve user experience will be a major issue that Solana needs to address in the future.

4. The Move ecosystem continues to heat up, SUI and Aptos become new stars

Move is a resource-oriented programming language developed by Facebook(, now Meta), and is mainly applied in the blockchain field. Recently, the Move ecosystem has been heating up, with projects like SUI and Aptos becoming new focal points.

SUI is a new public chain based on the Move language, invested by renowned institutions such as Andreessen Horowitz(a16z). SUI adopts an innovative parallel execution model, theoretically capable of processing 1 million transactions per second, significantly enhancing performance.

Another representative project of the Move ecosystem alongside SUI is Aptos. Aptos was founded by a former Meta employee, and its underlying architecture is derived from Meta's internal Diem(Libra) project. Aptos has made significant innovations in consensus, security, and other aspects, and is expected to become a high-performance, secure, and reliable public chain.

The Move ecosystem continues to heat up, mainly due to its excellent performance and security. The Move language inherently possesses the advantages of resource-oriented programming, effectively avoiding security risks such as "reentrancy attacks." In addition, the Move ecosystem has also attracted many top developers to join.

However, the Move ecosystem is still in its infancy, and projects like SUI and Aptos have not yet truly materialized. Whether it can ultimately achieve breakthroughs in terms of performance and ecosystem remains to be seen.

V. Economic Dynamics

1. The Federal Reserve signals a hawkish stance, raising expectations for interest rate hikes.

The current economic environment shows signs of recovery, but inflationary pressures remain high. The latest data indicates that the annualized quarter-on-quarter GDP growth in the U.S. for the first quarter is 3.2%, higher than the expected 2.6%. Meanwhile, the core PCE price index rose by 4.6% year-on-year in March, well above the target level of 2%. The unemployment rate remains low at 3.6%, and the job market remains robust.

Recently, Federal Reserve Chairman Jerome Powell reiterated during his testimony in Congress that interest rates will continue to rise until inflation falls to the 2% target. Several officials have also sent hawkish signals, supporting further rate hikes to curb the spread of inflation expectations. The market generally expects a 25 basis point rate hike in May, with a possibility of two to three rate increases throughout the year.

Investors are worried about the accelerated pace of interest rate hikes by the Federal Reserve, fearing that excessive tightening policies may trigger an economic recession. The three major U.S. stock indexes fell sharply on Thursday, with the Dow dropping nearly 400 points. The yield curve has further inverted, deepening expectations of an economic recession.

Goldman Sachs chief economist Jan Hatzius stated that the Federal Reserve still needs to continue raising interest rates to curb inflation expectations, but must operate cautiously to avoid triggering a severe recession. He anticipates that the Federal Reserve will pause interest rate hikes later this year. Citigroup believes that the Federal Reserve may need to start cutting rates in early 2024 to address the economic slowdown.

2. China's GDP growth rate in the first quarter is 5%, indicating insufficient momentum for economic recovery.

China's GDP in the first quarter grew by 5% year-on-year, in line with expectations but lower than the 8.5% recorded in the same period last year. Data shows that the economic recovery is weak, with a slowdown in consumption and investment growth. In March, industrial added value increased by 3.9% year-on-year, below the expected 4.6%. In March, the total retail sales of consumer goods grew by 10.6% year-on-year, below the expected 11.6%.

Recently, the Chinese government has introduced a series of policy measures aimed at boosting economic growth. This includes increasing investment in infrastructure, supporting the development of the real estate industry, and expanding automobile consumption. However, the market is skeptical about the effect of the policy and believes that it will be difficult to reverse the downward pressure on the economy in the short term.

Investors are cautious about the outlook for the Chinese economy. The Shanghai Composite Index fell 0.57% on Thursday, while the ChiNext Index dropped 1.06%. Analysts pointed out that the Chinese economy is facing internal and external pressures, including repeated outbreaks of the pandemic, geopolitical risks, and weak global demand.

Chen Yunheng, a macroeconomist at CICC, stated that the first quarter data reflects a lack of economic recovery, and he expects growth to slow in the second quarter as well. He anticipates an annual GDP growth rate of around 5.5%, which is lower than the government's target of around 6%. CICC maintains a neutral outlook on the Renminbi.

3. Inflation in the Eurozone continues to rise, increasing pressure for interest rate hikes.

The Eurozone's inflation rate rose again in March, increasing pressure on the European Central Bank to raise interest rates. Data shows that the Eurozone's inflation rate in March rose by 6.9% year-on-year, up from 6.3% in February. The core inflation rate also rose from 5.6% in February to 5.7%, setting a new high.

Rising energy prices are the main driver of inflation. The ongoing escalation of the Russia-Ukraine conflict has led to disruptions in energy supply. At the same time, the job market in the Eurozone remains robust, and rising wages have also contributed to inflationary pressures.

Investors expect the European Central Bank to raise interest rates by 25 basis points in May and to hike rates again later this year. The growth outlook for the Eurozone economy is also being weighed down by high inflation. European stocks fell on Thursday, and the euro slightly weakened against the dollar.

Goldman Sachs European economist Jari Stehn stated that the European Central Bank faces a difficult choice. If interest rates are raised too slowly, it could lead to an expansion of inflation expectations; however, if rates are raised too quickly, it could trigger an economic recession. He expects the European Central Bank to raise rates three times this year.

4. The Bank of Japan maintains its ultra-loose policy, intensifying the depreciation of the yen.

At this week's monetary policy meeting, the Bank of Japan decided to maintain its ultra-loose monetary policy. The bank reiterated that it will keep interest rates low until the inflation rate stabilizes around the 2% target. This stands in stark contrast to the tightening policies of major central banks like the Federal Reserve.

Bank of Japan Governor Haruhiko Kuroda stated that although the inflation rate has risen to 1.1%, it is still below the 2% target. He believes that inflationary pressures are not persistent, and thus there is no reason to adjust the easing policy.

Investors expressed disappointment with the Bank of Japan's decision. The yen fell sharply against the dollar on Thursday, hitting a new 20-year low. The Nikkei 225 index dropped by 0.56%. Analysts pointed out that the Bank of Japan's adherence to its easing policy will intensify the depreciation pressure on the yen and may trigger capital outflows.

Goldman Sachs economist Naohiko Baba stated that the stance of the Bank of Japan sharply contrasts with that of other central banks, which may exacerbate the depreciation of the yen. He expects the yen to depreciate to 150 against the US dollar by the end of this year. Nomura Securities, on the other hand, believes that the Bank of Japan will ultimately be forced to tighten its policy in response to inflationary pressures.

6. Regulation & Policy

1. The U.S. Securities and Exchange Commission will review statements related to cryptocurrencies.

Mark Uyeda, acting chairman of the U.S. Securities and Exchange Commission (SEC), has instructed the agency's staff to review multiple staff statements previously issued regarding the application of securities laws to cryptocurrency investments and digital assets, according to a presidential executive order. This move aims to confirm whether these statements need to be modified or rescinded to align with the SEC's current regulatory priorities.

The SEC has issued several guidelines related to cryptocurrencies over the past few years, including the "Howey Test" for assessing whether digital assets constitute securities, risk warnings for Bitcoin futures funds, and requirements for crypto companies to transparently disclose related risks. With the rapid development of the cryptocurrency market, the SEC believes it is necessary to reevaluate these statements to ensure they align with current regulatory priorities.

This review has sparked widespread attention in the industry. Some experts believe that the SEC may relax its regulation of cryptocurrencies, creating a more friendly environment for industry development. However, some analysts are concerned that the SEC may tighten regulations and increase scrutiny on cryptocurrencies. Overall, the market hopes that the SEC can create a favorable regulatory environment for the cryptocurrency industry while protecting investors' rights.

2. The head of the Central Bank of Russia suggests banning cryptocurrency participation in domestic settlements.

Elvira Nabiullina, the governor of the Central Bank of Russia, emphasized again during her speech at the State Duma that the use of cryptocurrencies in the domestic economy should be restricted, and advocated for stricter penalties for violations of the ban. She pointed out that, although the central bank supports exploring the cross-border application of crypto assets within a specific regulatory framework, it firmly opposes their penetration into the national currency system and settlement activities.

Since 2020, Russia has banned payments in cryptocurrency, but current enforcement is relatively lenient, and there is a lack of a clear legal framework for related transactions. Nabiullina has called for increased legal responsibility for the use of cryptocurrency for payments within Russia, stating, "We cannot allow cryptocurrency to infiltrate domestic currency circulation and domestic settlements."

This statement has attracted market attention. Some analysts believe that the strong stance of the Russian central bank may hinder the development of the country's cryptocurrency industry and could lead to the loss of related businesses and investors. However, there are also views that clear regulation helps to standardize market order and lays the foundation for the long-term healthy development of the cryptocurrency industry.

3. Mauritius Issues Consultation Document on the Metaverse in the Financial Services Sector

The Mauritius Financial Services Commission ( FSC ) recently released a consultation document regarding the application of the metaverse in the financial services sector. The document describes the concept of the metaverse and explores its potential application scenarios in the financial services field, including digital assets, payment systems, insurance, and more.

The FSC stated that metaverse technology could have a profound impact on the financial services industry, making it necessary to research and develop relevant regulatory frameworks in advance. The consultation document aims to solicit public opinions to help the FSC better understand the development trends of metaverse technology and assess its impact on the existing regulatory framework.

Industry insiders have welcomed this. Some experts believe that Mauritius, as a fintech hub, should pay timely attention to the development of the metaverse and formulate relevant policies, which is of great significance. However, some are concerned that excessive regulation may hinder innovation and suggest that the FSC should create a favorable environment for the development of emerging technologies while protecting investors' rights.