BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

April 10: CME’s FedWatch Tool shows 1.6% odds of a 25-basis-point Fed rate hike in April, versus 98.4% odds of holding rates steady.

On April 10, the U.S. Congressional Budget Office (CBO) reported that the nation’s estimated March budget deficit hit $163 billion. (CoreyTen)

April 10: OKX founder and CEO Star hit back at CZ’s proposed $1 billion bet, stating, “Both OKX and Binance are overseen by multiple regulatory bodies. As the Ultimate Beneficial Owner (UBO) of a regulated firm, publicly floating a $1 billion bet clearly flies in the face of professional ethics. I’m curious whether Binance’s regulators view this conduct as acceptable.” On whether CZ misled the public or spread falsehoods globally, the test is straightforward: Has CZ legally separated his equity in Binance from his ex-wife? Bill Gates and Jeff Bezos have already demonstrated what a proper divorce asset split looks like.

On April 10, Binance founder Changpeng Zhao (CZ) responded to OKX CEO Star on social media, stating: "I typically ignore false accusations and attacks, but you can apologize now. I am officially divorced. I will not publish any legal documents online out of respect for my ex-wife’s privacy and appreciation for the time we shared. I am willing to bet $1 billion (or any sum you choose) on this: I was already officially divorced prior to today. If you agree to the bet, we can have a lawyer verify my divorce decree—this should be straightforward. This bet is permanently valid and ready for you to accept at any time. However, if you do not accept within 24 hours, it will be clear who is making false statements to the public. I have more important matters to attend to."

**Crypto Update: April 10** As Bitcoin climbed back above $72,000 on April 10, Coinglass data shows mainstream centralized (CEX) and decentralized (DEX) exchange funding rates are reflecting deepening bearish sentiment among traders (specific rates referenced in attached imagery). *Note from BlockBeats:* Funding rates are fees set by crypto exchanges to align perpetual contract prices with the underlying asset’s spot price. They facilitate fund transfers between long and short traders—exchanges do not collect these fees. The mechanism adjusts the cost or profit of holding contracts to keep contract prices close to the underlying asset’s value. *Key Benchmarks:* - 0.01% = baseline rate - Rates > 0.01% = generally bullish market conditions - Rates < 0.005% = generally bearish market conditions

April 10 – Iranian Foreign Minister Abbas Araghchi said safe passage through the Strait of Hormuz can be secured via guidance. He also called on the U.S. to end its military operations in Lebanon and all other regions. (Financial Times)