Global TradFi & Macroeconomics

Gate News message: On April 10, U.S. stocks opened for trading; the Dow Jones Industrial Average rose 0.03%, the S&P 500 rose 0.27%, and the Nasdaq Composite rose 0.4%.

Trident Digital Tech Holdings has partnered with Ripple Strategy Holding. Ripple will provide stablecoin technology to support Trident’s expansion across Africa. It plans to build a blockchain tax system for 2.1 million small and mid-sized businesses in Ghana, and to set up an RLUSD/GHS liquidity pool to enable low-cost cross-border payments.

The U.S. federal government argues that sports event wagering should be treated as a financial derivative rather than gambling, and it seeks to bar Arizona from enforcing against Kalshi, the prediction market platform. If the court backs the federal position, prediction markets will operate under uniform nationwide regulation, weakening each state’s ability to regulate. This legal dispute concerns the legitimacy of prediction markets and the allocation of regulatory authority, affecting the future development of the industry.

U.S. stocks rebounded after the ceasefire agreement was announced, nearing a full recovery of the losses caused by the Iran war, but the oil market remained cautious, with prices holding at elevated levels. Investors’ confidence in future economic and political developments increased, and they may continue to add to their positions.

Gate News message: On April 10, U.S. National Economic Council Director of the White House, Hassett, said the Strait of Hormuz could be reopened within two months. In addition, Hassett said the Federal Reserve still has room to cut interest rates, and this outlook will be very solid.

Gate News: According to the latest Gate TradFi data, LI (Li Auto) has surged by 4% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

The latest data from the U.S. Bureau of Economic Analysis shows that in February, the core PCE price index rose 3.0% year over year, while overall PCE increased 2.8% year over year. Both figures are in line with market expectations, and inflation pressure remains stable. Even though people’s income has declined, consumer spending is still increasing, and the savings rate has fallen to 4.0%. The market’s view on the interest-rate cut path is somewhat neutral: inflation has not meaningfully worsened, but it has also not been dropping rapidly.

Gate News, April 10, according to Reuters, the market continues to price in expectations that the Federal Reserve will keep interest rates unchanged throughout 2026.

Gate News message, April 10, after the CPI data was released, the latest price of WTI U.S. crude oil (U.S. West Texas Intermediate) was $97.57 per barrel, and Brent crude oil (the international benchmark) was latest at $95.46 per barrel. The U.S. Dollar Index DXY (an indicator that measures the strength of the U.S. dollar against a basket of currencies) fell 10 points in the short term, with the latest reading at 98.68.

Amid the impact of the Iran war, a certain CEX offered about 1,000 temporary relocation options for its employees in the UAE, including to places such as Hong Kong. Its UAE operations remain normal, and global user services are unaffected. This move is intended to address disruptions to cryptocurrency activities caused by regional conflicts.

Gate News message: On April 10, U.S. Vice President Vance said that Trump has provided very clear guidance for the negotiations, is looking forward to talks with Iran, and believes that the negotiations with Iran will be positive.

Gate News message: On April 10, the U.S. dollar spot index has fallen cumulatively by about 1.4% this week, marking the largest weekly drop since January. After the CPI data was released, market trading strategies focused on buying the U.S. dollar and oil. The foreign exchange market has now entered a news-headline-driven trading phase, and progress in the Iran-U.S. negotiations amid a fragile ceasefire is becoming the new focal point.

The crypto market has seen a 1.14% decline, with Bitcoin and Ethereum experiencing slight gains. Top gainers include PEPE and IRISnet. DeFi TVL increased, while NFT sales dropped. Notable events include xAI suing Colorado and South Korea tightening crypto regulations.

Gate News message: On April 10, the U.S. March unadjusted CPI year-over-year rate recorded 3.3%, with gasoline prices accounting for nearly three-quarters of the CPI increase.

Gate News message. On April 10, Pakistani media confirmed that an Iranian delegation has arrived to begin negotiations. The main round of talks between Iran and the United States will be held in Pakistan tomorrow (April 11), and the discussions will focus on two issues: opening the Strait of Hormuz and extending the ceasefire.

Gate News update, April 10: Nasdaq-listed Bitcoin miner BitFuFu disclosed its March operating data. The data shows that BitFuFu sold 80 bitcoins in March, while its mining output during the same period was 214 BTC, including 171 BTC from its cloud mining business and 43 BTC from its self-operated mining business. As of the end of March, BitFuFu’s bitcoin holdings totaled 1,794 coins.

Gate News, according to Tree News, the U.S. Consumer Price Index (CPI) rose 3.3% year over year, below market expectations of 3.4%. The U.S. Core CPI rose 2.6% year over year, also below market expectations of 2.7%.

Gate News message: On April 10, according to CME "FedWatch" data, before the CPI data is released, the probability that the Federal Reserve will raise rates by 25 basis points in April is 1.6%, while the probability of keeping rates unchanged is 98.4%. Looking ahead to June, the probability of cumulative rate cuts of 25 basis points is 1.5%, the probability of keeping rates unchanged is 96.8%, and the probability of cumulative rate hikes of 25 basis points is 1.7%.

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