📊 BTC Climbs Nearly 3% as Trump Readies Tariffs

gm Defiers!

The crypto market held steady today as investors brace for tariffs, which the president is set to discuss at 4 p.m. EST. Meanwhile, Ethereum reclaimed the top spot in DEX volume, surpassing Solana.

In other news, both X2Y2 and Bybit have announced the closure of their NFT marketplaces, citing declining volumes. On the DeFi front, Kamino Finance launches a new tool, Kamino Meta-Swap, to enhance token swaps on Solana.

✍️ In today’s newsletter:

Crypto markets hold steady as Trump finalizes tariffs
Sonic exceeds $1 billion in TVL
Cali State Assembly member seeks to regulate unclaimed crypto
Privacy pools launch on Ethereum
NFT marketplaces close as trading volumes drop
Ethereum DEX volume surpasses Solana
zkLend hacker loses $5.5M to phishing
Kamino Finance partners with Pyth Network

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💸Crypto Market Holds Firm as Trump Readies "Liberation Day" Tariffs

The crypto market held steady Wednesday as President Donald Trump prepared to finalize his "Liberation Day" tariffs. Bitcoin rose 2.6% to $87,000, while Ethereum dipped 0.6% to $1,905; Solana gained 2.5% to $131.

📈Sonic TVL Crosses $1 Billion

Sonic, formerly Fantom, surged past $1 billion in total value locked (TVL), rising 6% in a week. Now the 12th largest blockchain, it nears Aptos' $1.07 billion TVL.

🏦 California Bill Would Require Custodial Wallet Providers to Turn Over Unclaimed Assets After Three Years

California State Assembly member Avelino Valencia has proposed an amendment to the Money Transmission Act to regulate unclaimed crypto. The bill would apply escheat laws to crypto held by third parties, requiring unclaimed assets to be turned over to the state after three years.

📣Privacy Pools Go Live on Ethereum, With Vitalik Buterin As One of the First Users

Ethereum collective 0xbow.io has launched Privacy Pools on mainnet, enabling private transactions while avoiding illicit fund mixing. Ethereum co-founder Vitalik Buterin was among the first users, depositing 1 ETH.

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Stablecoins are exploding, projected to hit $230 billion in 2025, bridging traditional finance and blockchain. Leaders like Tether and Circle, alongside innovations like Ethena’s yield-generating USDe, are driving adoption. They’re slashing cross-border payment times and costs, and powering DeFi’s growth. But are they a valuable inroad for institutions or a Trojan horse? As on-chain finance continues to grow and innovate, banks and other established financial institutions face a choice: adapt or risk obsolescence. Will stablecoins empower traditional finance to capitalize on the new value being generated by Web3, or serve as the seed for decentralization? Platforms like Stellar that enable compliant issuance may offer a middle path.

🛑NFT Marketplaces Shut Down Amid Declining Volumes

X2Y2 and Bybit have announced the closure of their NFT marketplaces. X2Y2 will shut down by April 30 due to declining NFT market demand, while Bybit will close its NFT and Bitcoin-based NFT marketplaces on April 8 as part of a streamlining effort.