F2Pool Co-Founder Wang Chun: BTC Protocol Upgrade Should Not Involve "Political Compromise"
On April 4, F2Pool co-founder Wang Chun said in an X post that Bitcoin protocol upgrades should not adopt a "riders bill" approach—similar to how U.S. politicians push through "must-pass but unpopular provisions." This is also a key reason he opposes BIP-110 and BIP-54.
Responding to whether fixes using BIP-54 have issues, Wang further noted the "Timewarp" problem has existed for years and offers no significant benefit to miners, since they can’t predict who will mine the next block. Its only practical use is disrupting some altcoins, which provides almost no real value to Bitcoin miners—so there’s no urgent need to modify it. Additionally, libsecp256k1 and hardware upgrades have drastically improved block validation efficiency, making protocol-level changes unnecessary. "Fake confirmed transactions" fundamentally depend on breaking a double SHA256 collision; if that were possible, it would mean Bitcoin Core’s security has been compromised. Wang added these issues aren’t enough to d
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The U.S. Senate Banking Committee is scheduled to consider the nomination of Lael Brainard for Federal Reserve Chair on April 16th.
April 4 — A source familiar with the matter told CNBC that the U.S. Senate Banking Committee will hold a hearing on April 16 to consider Kevin Warsh’s nomination as Federal Reserve chair.
Separately, a criminal investigation into the Fed remains ongoing, probing whether current Chair Jerome Powell made false statements to Congress about the costly renovation of the central bank’s office building. Warsh’s nomination process is moving forward, potentially creating a conflict between the two parallel initiatives pushed by the Trump administration.
Senate Banking Committee member Thom Tillis has stated he will not vote to confirm Warsh until the investigation is completed, indicating Trump cannot advance both processes simultaneously. However, by proceeding with the hearing, Trump appears to be attempting to do so.
The Senate Banking Committee has not yet scheduled the hearing for a public session, per FXStreet.
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「Fed's Bullhorn」: Low Job Growth May Be the New Normal, But Particularly Vulnerable in a War Scenario
April 4: Wall Street Journal’s “Fed Whisperer” Nick Timiraos reported that 178,000 jobs added in March reversed February’s sharp drop, while the unemployment rate fell to 4.3%. But key details are less upbeat: average worker wage growth slowed to its lowest year-over-year pace in five years (since the pandemic). Averaging the two volatile months reveals a clearer trend: just 22,500 jobs added monthly on average. Two years ago, that figure would have sparked alarms; now, it may still be viewed as acceptable. Fed officials are still trying to explain this shift.
San Francisco Fed President Mary Daly wrote Friday: “It’s hard to tell the public an economy with no job growth still fits full employment.” The dynamic is especially fragile as new supply shocks loom: ongoing Iran tensions, high fuel costs, or commodity shortages could squeeze businesses and consumers, leaving the labor market without a cushion to absorb the hit. Meanwhile, inflation worries threaten to dim rate-cut certainty
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Next Week Outlook: Iran Conflict to Continue Dominating Market Sentiment, Fed Meeting Minutes Key Focus
April 4th — Despite a slight easing of U.S.-Iran tensions over the weekend, the U.S. continued searching for a crew member from an F-15E fighter jet downed by Iran on Friday. Tehran, meanwhile, launched ongoing attacks on Gulf Arab states and Israel across the weekend. A separate U.S. military aircraft crashed in the Persian Gulf the same day (Friday). Both sides are set to maintain high tensions next week, with multiple stakeholders appearing to have fully anticipated potential U.S. ground force deployment into Iran.
Aside from the Iran conflict, next week’s macro events will be headlined by the Federal Reserve’s meeting minutes, with analysts expecting the document to confirm the hawkish tilt reflected in the latest dot plot. The key event schedule is below:
- **Monday 22:00**: U.S. March ISM Non-Manufacturing PMI
- **Tuesday 15:50–16:30**: France/Germany/Eurozone/UK March Final Services PMI
- **Tuesday 23:00**: U.S. New York Fed March 1-Year Inflation Expectations
- **Wed
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