4.17 AI Daily OpenAI Releases Strongest AI Model, Many Countries Accelerate Cryptocurrency Regulation

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I. Headlines

1. OpenAI released the most powerful AI model in history, o4-mini, and its reasoning and visual understanding capabilities have been fully upgraded

OpenAI released its latest AI models, o4-mini and o3, in the early hours of this morning. As multimodal models, they can process text, images, and audio at the same time, and can be used as agents to automatically invoke tools such as web search and image generation to achieve deep thinking.

According to the test data released by OpenAI, the o4-mini achieved an accuracy rate of 93.4% and 92.7% in the AIME 2024 and 2025 math competitions, respectively, surpassing the full-blooded version of o3 and becoming the most accurate model at present. In the FORCES test, the O4-Mini reached a score of 2700, ranking among the top 200 programmers in the world.

According to OpenAI, the O3 model has excelled in several areas, particularly with breakthroughs in program understanding, mathematical reasoning, and visual understanding. The O4-mini, on the other hand, is a smaller and more efficient version that reduces compute and storage overhead while maintaining high power.

This breakthrough marks another big step forward for OpenAI on the road to artificial general intelligence. In the future, these multimodal AIs may profoundly change the way people work and live, giving rise to new business models and application scenarios. But at the same time, it has also raised widespread concerns about the safety and ethics of AI.

2. Powell reiterated that the Fed kept policy unchanged and warned that tariff policy creates uncertainty

Fed Chairman Jerome Powell reiterated in his speech at the Chicago Economic Club that the Fed will maintain its current policy stance, continue to wait and see changes in economic data, and balance the dual goals of maximum employment and price stability.

Powell noted that the slowdown in economic growth in the first quarter was partly due to higher imports and modest consumer spending. He warned that the Trump administration's tariff policy has heightened uncertainty and could dampen economic growth and push inflation higher.

Powell stressed that the labor market remains balanced and that inflationary pressures are mainly due to one-off factors rather than persistent factors. Therefore, the Fed will patiently wait for the impact of policies such as tariffs to become clearer and avoid adjusting interest rate policy early.

Analysts noted that Powell's speech conveyed the Fed's cautious optimism about the economic outlook. Uncertainty about tariff policy is likely to be a key factor influencing monetary policy. The Fed needs to find a balance between employment and inflation to prevent the economy from falling into recession.

In addition, Powell also reiterated the importance of the Fed's independence, saying that decision-making will not be influenced by political pressure. His speech sparked a market reaction, with the U.S. dollar index falling slightly and U.S. stocks continuing to decline.

3. The liquidity matching program opens applications for certification letters to help maintain trading volume

According to official sources, the Liquidity Matching Program now provides certification letter application services for standard and advanced participants. This certification letter serves as official proof of the user's participation in the project and the maintenance of trading volume.

Applicants are required to meet the requirements of the respective level and comply with the terms and conditions of the platform. Users can submit a request by contacting their account manager or sending an email to VIP@.com.

Industry insiders pointed out that this move will help provide liquidity support for high-quality projects and maintain ecological activity. At the same time, it also provides more profit opportunities for participants to attract them to market making and promotion of the project.

However, there are also concerns that over-reliance on market makers could affect price discovery mechanisms, leading to inflated trading volumes and bubbles. Therefore, regulators and transactions need to strengthen scrutiny to prevent benefit transfer and manipulation.

In general, the market maker system is an important supplement to blockchain exchanges, which is conducive to improving liquidity and trading depth. However, its healthy operation requires regulatory constraints and industry self-discipline to avoid abuse.

4. Bitcoin futures sentiment has weakened, and macroeconomics and regulation may be the main reasons

Despite the recent recovery in prices, sentiment in the Bitcoin futures market has continued to decline since February, with traders showing caution about the market outlook.

According to CryptoQuant's latest report, Bitcoin's Future Psychology Index shows that there is widespread pessimism in the futures market. Analysts believe this may stem from concerns about economic instability and regulatory policies.

From a technical point of view, the appearance of a "death cross" pattern on the Bitcoin price chart is also seen as a bearish signal. At the same time, uncertainty over the macroeconomic outlook has further dampened investor confidence.

However, some analysts are optimistic about the future of Bitcoin. They believe that as long as the price can break through the key resistance level, it is expected to resume the uptrend.

Overall, the weakening sentiment in the Bitcoin futures market reflects investors' cautious outlook for cryptocurrencies. Changes in macroeconomic and regulatory policies will be key factors influencing the direction of the market.

5. South Korea intends to allow banks to provide crypto asset custody services

A major regulatory change is brewing in South Korea: allowing banks to provide crypto asset custody services to institutional investors.

According to reports, the latest draft of the Capital Market and Financial Investment Business Act revised by the Financial Supervisory Service of South Korea contains the above contents. If approved, it would mark a significant step forward in South Korea's approach to cryptoasset regulation and the convergence of traditional finance.

The policy is believed to help improve the security and compliance of crypto asset custody while opening up new business directions for banks. However, there are also concerns that the participation of banks in the crypto market may bring new risks.

Analysts pointed out that South Korea's move aims to attract more institutional funds into the crypto sector and promote the healthy development of the industry. At the same time, it also helps to strengthen supervision and curb illegal activities such as money laundering.

Overall, this regulatory change in South Korea reflects the growing acceptance of cryptoassets by mainstream financial institutions. However, how to balance innovation and risk management remains a major challenge in the process of promotion.

II. Industry data

1. BTC

Last traded at $83321.2000, down -2.70% on the day.

2. ETH

Last traded at $1563.3400, down -4.90% on the day.

3. AERGO

It was last traded at $0.4954, an intraday gain of +19.60%.

4. SOL

Last traded at $124.6600, down -5.20% on the day.

5. GT

Last traded at $22.1980, down -1.80% on the day.

3. Industry news

1. Bitcoin prices remain volatile in the short term, but the long-term outlook remains uncertain

The price of Bitcoin has remained relatively stable over the past 24 hours, moving slightly in a range of $83,000 to $84,000. Still, there is uncertainty about Bitcoin's long-term trajectory, which is mainly affected by the macroeconomic environment and regulatory policies.

According to CoinDesk, Bitcoin has risen by about 3% over the past week, but at the same time, investor sentiment remains cautious. Analysts noted that Fed Chair Jerome Powell's recent speech has exacerbated market concerns about the outlook for interest rates, which could adversely affect risk assets. In addition, the Trump administration's decision to impose tariffs on China has also sparked fears of an escalating trade war.

On the other hand, the sentiment index of the bitcoin futures market shows that traders are pessimistic about the future prospects of bitcoin. Analysts at Arcane Research said this could reflect investors' concerns about regulatory uncertainty and macroeconomic conditions. However, they also noted that the price of bitcoin has remained in the range of $80,000 to $90,000 over the past few months, suggesting that market participants remain optimistic about Bitcoin's long-term prospects.

In general, the price of bitcoin may continue to fluctuate within a certain range in the short term, but the long-term trend will depend on the macroeconomic situation, regulatory policies, and the level of participation of institutional investors. Investors need to pay close attention to the changes in these factors and do a good job of risk management.

2. Ethereum prices are under downward pressure in the short term, but fundamentals remain strong

The price of Ethereum has fallen slightly over the past 24 hours and is currently trading around $1,800. Analysts believe that in the short term, Ethereum may face some downward pressure, but in the long term, its fundamentals remain strong.

The main reasons for the decline in the price of Ethereum include: First, the recent hawkish comments from Fed Chair Powell have exacerbated the market's concerns about rising interest rates, which could adversely affect risk assets. Secondly, the Trump administration's decision to impose tariffs on China has also raised concerns about the escalation of the trade war, which could affect global economic growth and, in turn, the cryptocurrency market.

Still, analysts believe that Ethereum's fundamentals remain strong. First of all, Ethereum, as a leading smart contract platform, has a wide range of application scenarios in the fields of decentralized finance (DeFi) and non-fungible token (NFT). Second, Ethereum's upper-layer scaling scheme is steadily advancing, and its scalability and transaction speed will be greatly improved in the future. In addition, there is a growing interest in Ethereum from institutional investors.

According to CoinShares, Ethereum investment products recorded an inflow of about $14 million last week, indicating that institutional investors are optimistic about Ethereum's long-term prospects. Overall, while the Ethereum price may face some downward pressure in the short term, its fundamentals remain strong in the long term, and there is still plenty of room for upside going forward.

3. The Solana ecosystem continues to heat up, and the SOL price is expected to break through the $140 mark

The Solana ecosystem has continued to heat up in the past week, and the price of SOL has also risen, and has now broken through the $130 mark, and is expected to break through the $140 resistance level in the short term.

The main reasons for the continuous heating up of the Solana ecosystem include: First, Solana, as a high-performance layer-1 blockchain, has broad application prospects in the fields of decentralized application (DApp) and decentralized financial (DeFi). Secondly, new projects and applications are constantly being implemented in the Solana ecosystem, which further enhances the strength of the Solana ecosystem. For example, Solana recently launched a new decentralized exchange, Oxy, as well as a new NFT marketplace, Solanar.

In addition, institutional investors are paying more attention to the Solana ecosystem. According to Delphi Digital, investment products in the Solana ecosystem recorded an inflow of about $11 million last week, indicating that institutional investors are optimistic about Solana's long-term prospects.

Analysts believe that with the continuous development of the Solana ecosystem, the price of SOL coin is expected to continue to rise in the coming period. According to FXStreet's analysis, if SOL is able to break through the $140 resistance, the next target could be $160. However, analysts also caution that investors need to pay close attention to changes in the macroeconomic situation and regulatory policies, as these factors can have a significant impact on the cryptocurrency market.

4. The meme coin market continues to be active, but investors need to be wary of high risks

Over the past week, the meme coin market has been active, with some popular meme coins experiencing significant price swings. Dogecoin, for example, rose by more than 20% at one point over the past week, but then retreated.

The main reasons driving the activity of the meme coin market include: First, there is a growing interest in meme coins by some well-known people and institutions. For example, Tesla CEO Elon Musk has recently tweeted Dogecoin several times, which has sparked market attention for the coin. Secondly, some new meme coin projects are constantly emerging, which also stimulates investors' speculative enthusiasm.

However, analysts also warn that the meme coin market is highly speculative and risky. First of all, most meme coins lack practical application scenarios and use value, and their prices are mainly driven by speculative sentiment. Second, the meme coin market is susceptible to manipulation and washing, and investors need to be extra careful.

Therefore, for ordinary investors, it is advisable to invest in meme coins cautiously and control their risk exposure. At the same time, investors also need to pay close attention to changes in regulatory policies, as once the relevant policies are introduced by the regulatory authorities, they may have a significant impact on the meme coin market.

Overall, while the meme coin market is active, it is also very risky, and investors need to be extra careful to control their risk exposure.

4. Project News

1. OpenAI released O4-mini and O3 multimodal models, which greatly improved reasoning and visual understanding

OpenAI unveiled its latest multimodal large models, o4-mini and o3, during today's tech livestream. The two models are capable of processing text, images, and audio simultaneously, and support automatic invocation of tools such as web search, image generation, and code parsing as agents, as well as deep thinking modes.

According to the test data released by OpenAI, the accuracy rate of o4-mini in the AIME 2024 and 2025 math competitions will reach 93.4% and 92.7% respectively, surpassing the full-blooded version of o3 and becoming the most accurate model at present. In the FORCES programming competition test, the O4-mini achieved an impressive score of 2700 points, which is equivalent to the level of the world's top 200 programmers.

The O3 model also excels in several domains, especially for tasks such as program understanding, visual reasoning, and multimodal question answering. OpenAI says that O3 has outperformed humans in some visual reasoning benchmarks.

The release of these two new models marks a major breakthrough for OpenAI in the field of multimodal AI. In the future, O4-mini and O3 are expected to play an important role in assisting decision-making, automatic programming, intelligent analysis and other fields, and promote the application of artificial intelligence in more scenarios.

A number of technology companies and research institutions welcomed the launch. DeepMind, one of OpenAI's partners, said it looks forward to deeper cooperation with OpenAI in the field of multimodal AI. Industry insiders believe that OpenAI's release demonstrates its leading position in large-scale model research, but other companies are also catching up, and there may be a fierce competition for multimodal AI models in the future.

2. Sui launches Nautilus, which supports privacy protection and verifiable off-chain computation

This week, the Sui ecosystem released Nautilus, a new feature that supports privacy-preserving and verifiable off-chain computing. Developers can now experience Nautilus on the Sui testnet, with a reproducible template for building, deploying, and registering a self-hosted AWS Nitro Enclave, along with a reference application that demonstrates the entire process from generating trusted proofs to on-chain validation.

The launch of Nautilus marks a significant step forward for Sui in supporting privacy-preserving and verifiable off-chain computing. In the future, developers can build privacy-first security applications based on this, such as tamper-proof real-world data oracles, autonomous proxy processes and on-chain traceability based on AI inference, hidden logic and metadata for fairplay games, and privacy authentication without exposing user information.

This innovation in the Sui ecosystem is expected to promote the development of applications in terms of privacy protection and trusted computing. According to industry analysts, Nautilus provides infrastructure support for building truly decentralized and trusted applications, and may become one of the key factors in attracting traditional enterprises to join the ecosystem.

However, some experts have raised some concerns about the performance and security of Nautilus. They argue that while off-chain computation improves privacy, it also increases system complexity and requires more testing to verify its reliability. Overall, Nautilus represents Sui's important exploration in the field of privacy-preserving computing, and its long-term impact remains to be seen.

3. Footprint Analytics has partnered with AI Flow to enhance blockchain data analytics with artificial intelligence

Footprint Analytics has partnered with AI Flow to leverage AI technology to innovate blockchain data analytics and provide better insights and decision support for decentralized networks.

As a leading blockchain data analytics platform, Footprint Analytics provides on-chain data solutions for institutional investors, traders, and project parties. AI Flow, on the other hand, focuses on combining artificial intelligence with blockchain technology to provide AI-enhanced services for applications.

The partnership will combine the strengths of both parties and inject AI Flow's artificial intelligence capabilities on top of Footprint Analytics' existing data analytics to provide smarter and more efficient data processing and analysis services. In the future, users can obtain the required blockchain data analysis reports through natural language queries, and intelligent models will also assist in discovering correlations and patterns in the data.

According to the founders of Footprint Analytics, the partnership with AI Flow will bring a new data analytics experience to users, helping to uncover deeper insights and support more informed investment and business decisions. AI Flow emphasized that this cooperation is a powerful attempt to combine artificial intelligence with blockchain data analysis, which is expected to promote the innovation and development of analysis tools.

Industry insiders welcomed this cooperation, believing that the combination of artificial intelligence and blockchain data analysis is the trend of the times and will surely bring new opportunities to the ecosystem. However, some analysts have reminded that the application of artificial intelligence technology in the field is still in its infancy, and it needs to be continuously optimized and improved in order to truly exert its value.

4. BNB Chain announced 13 BNB AI Hack winners, covering AI, DeFi, and more

BNB Chain has announced the list of 13 winning projects in the BNB AI Hack program in the first quarter of 2025, covering AI, DeFi, infrastructure, and other fields. Winners include BINK AI, Botzilla, Tutorial Agent, Tokrio, Polycruz, WORLD3 Protocol, Sentism AI, iDos Games, Boomie, VitaminAI, Stitch AI, Tearline, and Kudo.

BNB AI Hack is a competition launched by BNB Chain for the integration and innovation of AI and blockchain, aiming to encourage developers to build innovative AI applications on the BNB ecosystem. This award-winning project demonstrates the creativity and strength of developers in the field of AI+ blockchain, and reflects the vitality of the BNB ecosystem in attracting innovative forces.

There was no shortage of bright spots among the winning projects. For example, BINK AI focuses on the development of AI-assisted programming tools, which is expected to improve development efficiency; Botzilla is committed to building an AI-driven decentralized autonomous organization (DAO); Tutorial Agent aims to improve the educational experience using AI technology; Polycruz, on the other hand, is exploring the convergence of AI and DeFi.

BNB Chain said it will provide $50,000 in start-up capital to the winning team, as well as technical support and marketing resources to help the project develop. With the advancement of 2025, more AI+ blockchain projects will be included in the support plan.

Industry insiders recognized BNB Chain's AI innovation layout. Some analysts pointed out that AI is regarded as an important driving force for the development of blockchain, and the BNB ecosystem actively embraces AI innovation through AI hacks and other initiatives, which will help attract more excellent projects to settle in and enhance the vitality of the ecosystem. However, some people remind that the combination of AI and blockchain is still in its infancy, and enough time and space need to be given to explore and develop.

Overall, the winning projects of the BNB AI Hack show the activity of the BNB ecosystem in AI + blockchain innovation, and also provide some valuable attempts and ideas for the industry. In the future, the integration of AI and blockchain will surely become a hot area of focus in the industry.

V. Economic dynamics

1. Fed Chair Jerome Powell warned that tariffs could push up inflation and weigh on economic growth

The current economic environment remains generally solid, but uncertainty and downside risks have increased. GDP growth in the first quarter is likely to be slower than last year, mainly due to higher imports and modest consumer spending. Inflationary pressures have eased, but remain slightly above the Fed's 2% target. The job market remains balanced overall, but a reduction in R&D funding is likely to have a significant impact on employment, with the unemployment rate expected to rise slightly.

Important Events: The Trump administration recently announced new import tariffs across the board, which are much larger than expected. Powell said that tariff policy is still being adjusted, and its impact is highly uncertain, but it could push inflation higher and drag down economic growth. This could leave the Fed with a difficult "gatekeeper" choice between curbing prices and preserving employment.

Market reaction: Powell's speech sparked market volatility. The three major U.S. stock indexes collectively fell sharply, with the Nasdaq falling 3.07% and technology stocks generally falling. Bitcoin rebounded after a brief decline, and the cryptocurrency market performed relatively independently. Investors' uncertainty about the economic outlook has intensified.

Experts believe that Powell's remarks highlight the Fed's balanced consideration of inflation and economic growth. Analysts at HSBC Holdings said the dollar index was at a low level, helping to curb the upside risk of the dollar against Asian currencies. However, uncertainty over tariff policy could lead to greater volatility.

2. China is urging the United States to stop trade threats, and geopolitical tensions are rising

The current global economic growth is slowing, and trade and geopolitical tensions are rising. The U.S.-China trade dispute continues to escalate, and the two sides retaliate with high tariffs, further affecting industrial production and supply chains. Safe-haven assets such as gold have fluctuated sharply, reflecting a cautious investor sentiment amid uncertainty.

Important Events: The Trump administration imposed tariffs of up to 145% on Chinese goods, and China immediately imposed retaliatory tariffs of 125% on U.S. imports. Trade between the two sides slowed sharply, with the S&P 500 down 15% in a short period of time.

Market reaction: Heightened trade tensions have sparked turmoil in global financial markets. U.S. stocks fell sharply, and the price of safe-haven assets such as gold rose sharply. Investor sentiment has shifted to cautious and sought safer asset allocation.

Expert analysis pointed out that the Sino-US trade dispute portends a broader economic impact that may lead to the restructuring of global supply chains and trade policy adjustments. Chinese Foreign Ministry spokesman Lin Yifu suggested that the United States should stop threats and provocations and resolve the issue through dialogue. Analysts believe that easing extreme pressure may help ease tensions.

3. Bank of Japan Governor: If the economy meets expectations, interest rates will continue to be raised

Japan's economic performance and prices are generally in line with the BOJ's expectations. Governor Kazuo Ueda said the Bank of Japan expects to continue raising interest rates if the economy and prices develop as expected in the quarterly report.

Important events: The Bank of Japan kept its economic and inflation expectations unchanged in its latest quarterly report. The report shows that Japan's economy continues to recover modestly, with inflation gradually rising and reaching the target level of 2% by 2025.

Market reaction: Investors' expectations for the Bank of Japan's interest rate hike have strengthened. The Japanese yen edged higher against the dollar. The Tokyo stock market fluctuated to the upside.

Authoritative analysts believe that the Bank of Japan's remarks reflect confidence in economic recovery. The Bank of Japan will continue to raise interest rates gradually, in order to achieve its inflation target and sustain economic growth. However, some analysts have pointed out that global trade tensions and geopolitical risks may affect Japan's exports, thereby dragging down economic performance.

VI. Regulation & Policy

1. Fed Chair Jerome Powell called for a regulatory framework for stablecoins

In his speech at the Economic Club of Chicago, Federal Reserve Chairman Jerome Powell emphasized the need for a regulatory framework for stablecoins. As the highest monetary policy-setting body in the United States, the Federal Reserve plays a key role in the regulation of digital assets such as stablecoins.

Powell pointed out that stablecoins, as a digital product with the potential for widespread adoption, should be equipped with regular consumer protection measures and information disclosure requirements. He said that the two houses of the U.S. Congress are rapidly advancing the construction of a legislative framework for stablecoins, and the relevant bills have been reviewed by the committee, and President Trump hopes to sign them into law as soon as possible.

Powell's speech showed the Fed's increased willingness to participate in digital asset policy. Since Trump's inauguration in January, federal banking regulators have continued to adjust their stance on digital assets. Last month, the Federal Deposit Insurance Corporation (FDIC) announced that it would revoke the old guidance, clarifying that its regulators could "conduct compliant crypto business" without prior approval. The Office of the Comptroller of the Currency also allows the federal banking system to participate in crypto-related activities.

Market participants believe that the increased regulatory clarity will bring more opportunities to the cryptocurrency industry. However, it is also necessary to be vigilant against potential risks and ensure that investors' rights and interests are protected. Industry experts are calling on relevant institutions to promote innovation while also establishing a sound regulatory system.

2. The Financial Services Commission of Korea (FSC) will move forward with the development of a regulatory framework for stablecoins as planned

South Korea's Financial Commission issued a statement emphasizing that it will move forward with the development of a regulatory framework for stablecoins as originally planned. Previously, it was reported that the US dollar stablecoin became the main channel for capital outflows, but the Financial Commission refuted it.

According to the Financial Commission, between November 2024 and February 2025, the size of inflows and outflows of US dollar stablecoins in South Korea was comparable. In January this year, the agency made the "stablecoin regulatory scheme" a top topic and plans to complete a detailed review through an inter-agency working group in the second half of 2025.

The South Korean government is aware of the importance and urgency of stablecoin regulation. On the one hand, the rapid development of stablecoins has brought new options for payment and settlement; On the other hand, its potential risks cannot be ignored. As a result, South Korea has decided to establish a regulatory regime as soon as possible.

Industry insiders believe that stablecoin regulation will help improve the security and compliance of crypto asset custody, and at the same time open up new business directions for banks. However, there is also a view that overly restrictive regulation may hinder innovation, and that a balance needs to be struck between promoting development and preventing risks.

3. China is exploring rules for the disposal of crypto-asset forfeiture revenues

Despite China's ban on cryptocurrency trading, local governments are currently selling these digital assets through private companies in offshore markets to supplement fiscal revenues, raising regulatory and compliance concerns, according to Reuters.

In 2023, the amount of money involved in crypto-related crimes in China surged to 430.7 billion yuan, and local government fines and confiscation revenues reached a record 378 billion yuan. However, due to the lack of clear resolution rules, there is uncertainty about where these funds will go and how they will be used.

Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, said that China is exploring the development of rules for the disposal of crypto asset confiscation income. He stressed the need to establish a unified management system, clarify the flow of funds and the scope of use, and avoid corruption and abuse.

Experts believe that the formulation of rules for the disposal of crypto asset confiscation income is an important part of China's cryptocurrency regulation. It is not only related to the management of state fiscal revenues, but also the need to safeguard the authority of supervision and control and curb illegal and criminal activities. At the same time, it is also necessary to consider how to rationally use these assets within the legal framework to create value for society.

In general, China is gradually establishing a well-established regulatory system for cryptocurrencies. In the future, the focus will be on refining specific systems, strengthening law enforcement, and aligning with international standards.