Aave Generates Over $1 Billion in Interest on the Ethereum Network

On April 8th, BlackRock stated in a report that the expectation in the money market for multiple Fed rate cuts was overly high and ignored the risk of rising inflation. "We are inclined to think that the market is pricing in 4 to 5 Fed rate cuts this year, each by 25 basis points." BlackRock expects that with the upcoming tariff hikes causing inflation to rise, global borrowing costs will be higher than those before the pandemic. "We believe that the U.S.'s plans for a new round of tariffs and the responses from other countries strengthen the point that we will be in a world where interest rates and long-term bond yields are still higher than those before the pandemic." Tariffs in some regions of the world and loose fiscal policies may lead to higher inflation. (FXStreet)

On April 8th, Standard Chartered Bank issued a report regarding Ripple-related tokens. It was stated that prior to the departure of President Trump, XRP might rise to $12.50. Standard Chartered Bank forecasts that by the end of this year, XRP will reach $5.50. By the end of 2026, it will reach $8. By the end of 2027, it will reach $10.40. And by the end of 2028, it will reach $12.50.

On April 8th, billionaire Bill Ackman expressed his support for Trump in using tariffs to eliminate tariffs. He advocated for a 30-day, 60-day, or 90-day pause before the tariff comes into effect starting from tomorrow.

On April 8th, Bernstein remarked that Bitcoin had declined by 26% during the recent market unrest. When compared to past crashes ranging from 50% to 70%, this is regarded as mild, suggesting stronger demand. Market tariffs have had an impact on crypto miners; however, U.S. alternatives and AI opportunities have offered support. Bitcoin still fluctuates in a manner similar to a tech stock rather than gold, but it serves as a liquid risk asset when markets are closed. In the long term, it is a more volatile and liquid version of gold (with a market capitalization of approximately $2 trillion compared to gold's $20 trillion). Institutional adoption through ETFs and corporate treasuries (accounting for 10% of the supply) has made Bitcoin more stable. Despite a 15% decrease year-to-date, ETF inflows remain positive. The main source of selling pressure comes from short-term traders, while miners remain strong with AI trading and low leverage.

On April 8th, JPMorgan Chase announced that it is expected that the European Central Bank will cut interest rates successively in the next four meetings, and the final interest rate will reach 1.5%. (FXStreet)

On April 8th, the crypto restaurant app Blackbird announced the completion of a $50 million Series B funding round. Spark Capital led this round, with Coinbase, a16z crypto, Union Square Ventures, and Amex Ventures participating. This funding round consists of both equity in the company and token warrants, which are allocations of a not-yet-issued cryptocurrency. Blackbird co-founder Levinthal stated that this funding was raised in the fourth quarter of 2024 but refused to disclose the implied valuation of this round. Since 2022, Blackbird Labs has raised a total of $85 million. Blackbird is a loyalty and payment application for restaurants. Each time a user visits a restaurant registered with the app, they receive an internal cryptocurrency called FLY as a reward. Users can use this cryptocurrency to pay for meals anywhere within the Blackbird network, which includes over 600 restaurants in New York City, San Francisco, and Charleston, South Carolina. Levinthal stated, "We aim to ente