Trump Media Group plans to launch ETF; Trump may reduce or exempt tariffs on many countries

Headline

▌Trump Media Group plans to launch ETF in cooperation with Crypto.com

Trump Media & Technology Group (TMTG) announced that it has reached a preliminary cooperation intention with the crypto trading platform Crypto.com, and plans to jointly launch a series of ETFs and related products through its financial technology brand Truth.Fi, which is expected to be officially launched in 2025, subject to the signing of a final agreement and regulatory approval. The new fund will be provided with technical support and crypto asset custody by Crypto.com, covering cryptocurrencies such as Bitcoin and Cronos, as well as securities assets related to the theme of "Made in America", covering multiple industries such as energy. TMTG plans to use up to $250 million of its own funds to participate in the investment, and the funds will be managed by Charles Schwab.

▌Trump: May reduce or exempt tariffs on many countries

US President Trump said on the 24th local time that he would announce additional tariffs on cars, wood and chips in the next few days. Trump also said that tariffs may be reduced or exempted for many countries. Since Trump entered the White House in January this year, the United States has frequently wielded the "big stick" of tariffs against major trading partners, prompting relevant countries to take countermeasures to safeguard their own interests.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $87,309.87, with a daily increase or decrease of +1.3%;

ETH's latest transaction price is $2,083.86, with a daily increase or decrease of +4.1%;

BNB's latest transaction price is $639.18, with a daily increase or decrease of +2.0%;

SOL's latest transaction price is $141.09, with a daily increase or decrease of +6.2%；

DOGE's latest transaction price is 0.1835 US dollars, and its intraday change is +6.1%；

XPR's latest transaction price is 2.45 US dollars, and its intraday change is +0.7%.

Policy

▌Coinbase: The case is far from over without the Treasury Department's promise not to re-sanction Tornado Cash

Coinbase Chief Legal Officer paulgrewal.eth posted on the X platform that the U.S. Treasury Department argued that the court did not need to make a final judgment after removing the Tornado Cash sanctions list, but the case is far from over without the Treasury Department's promise not to re-impose sanctions.  

Coinbase Chief Legal Officer paulgrewal.eth pointed out: "Power will not retreat voluntarily, but will continue to struggle until it is powerless." The Treasury Department filed another lawsuit against Tornado Cash before the end of get off work on Friday. Although it reluctantly removed the sanctions list, it claimed that the court did not need a final judgment-this is obviously contrary to legal principles.

▌U.S. Senator Elizabeth Warren questions Paul Atkins' connection with FTX and Trump's cryptocurrency

U.S. Senator Elizabeth Warren sent a 34-page letter of inquiry to SEC Chairman nominee Paul Atkins, focusing on his connection with the bankrupt crypto trading platform FTX and the potential conflict of interest brought about by Trump's issuance of Memecoin. Warren pointed out in the letter that Patomak Global Partners, a consulting firm founded by Atkins, provided consulting services to FTX in 2022 and has several banks, crypto exchanges and DeFi platform clients. He also joined the advisory board of the blockchain industry association The Digital Chamber in 2020. Warren questioned whether Atkins' close relationship with crypto clients would affect his position on crypto regulation, and questioned whether he had directly advised former FTX CEO Sam Bankman-Fried. Atkins will attend the nomination hearing of the Senate Banking Committee on Thursday. Patomak Global Partners has not yet commented on this.

Blockchain Applications

▌OP Labs: A governance-approved upgrade to the fault proof event response will be carried out on April 1

OP Labs released a message on X, saying that OP Stack Chain operators and users should pay attention: We will carry out a governance-approved upgrade to the fault proof event response on April 1. This will trigger a one-time invalidation of all pending withdrawal proofs created on L1.  

Please complete all pending withdrawals before April 1 to avoid creating new withdrawal proofs that cannot be executed in time.  

Failure to complete any pending withdrawals will not put any ETH or ERC-20 tokens at risk, but will require users to submit a second withdrawal proof transaction on L1.

▌Arbitrum DAO plans to withdraw 225 million ARB game incentive plan, questioning poor project management and lack of transparency

Arbitrum DAO is considering a proposal to cancel funding for the Gaming Catalyst Program (GCP) and recover the 225 million ARB tokens previously allocated. The proposer pointed out that the plan was approved under overly optimistic market expectations and has now been proven to be unsustainable. Treasure DAO, one of the main supporters, has withdrawn from Arbitrum, and other key contributors have also lost or lost enthusiasm. In addition, GCP has been accused of problems such as opaque use of funds, increased team salaries, and reduced reporting obligations. The proposal stated that the project has not even established basic operations and transparency. David Bolger, a member of the GCP committee, responded that Arbitrum has become an important gathering place for game projects, attracting more than 25 game-related chains including Ubisoft, Square Enix, and Tap Nation to build on its technology stack.  

GCP was launched in March 2024 to promote the development of the Web3 gaming ecosystem on Arbitrum, and was originally scheduled to use most of the funds for game project funding within three years. At present, community governance discussions are still ongoing and no clear consensus has been reached.

Cryptocurrency

▌Dogecoin Foundation Launches Official DOGE Reserve, First Purchase of 10 Million

The Dogecoin Foundation has officially launched the "Official Dogecoin Reserve" through its newly established business entity and has completed the purchase of the first 10 million DOGE. The initiative is jointly promoted by the Foundation and the House of Doge to demonstrate the feasibility of DOGE as an efficient payment tool. The House of Doge said that the reserve is a "proof of concept" for the implementation of Dogecoin payment scenarios. The House of Doge expects to announce the first batch of strategic partners in the coming months to further promote the global payment application of DOGE.  

In addition, the Dogecoin Foundation revealed that it is communicating with relevant personnel of the US government to explore the introduction of DOGE payment in scenarios such as urban parking and public utility payments, and plans to use major sports events to promote DOGE wallets and educational activities.

▌Santiment: DOGE network activity has dropped to the lowest level since October 2024

According to Santiment data, DOGE network activity has dropped to the lowest level since October 2024, with only about 66 "whale" transactions per day, and the number of active addresses has also dropped to less than 60,000.

▌Polymarket launches Solana network, supports users to deposit with SOL

The encrypted prediction platform Polymarket announced the official launch of the Solana network and began to support users to deposit with SOL. Previously, the platform mainly operated on the Polygon network and only supported USDC stablecoins for recharge.

▌DigiFT launches on-chain index funds, Apple, Tesla and other US stocks are tokenized

Singapore's crypto trading platform DigiFT announced that it will launch the world's first index fund that fully tokenizes fund shares and their underlying stocks and trades on the chain. Initially, it will only be open to qualified investors and institutional investors. DigiFT has partnered with investment institution Hash Global to launch two index funds: one that tracks leading companies in the field of artificial intelligence (such as Apple, Tesla, and Microsoft), and the other that tracks mainstream crypto assets (such as Bitcoin, Ethereum, and Solana). The fund will use smart contracts and stablecoins to realize subscription and redemption, replacing the roles of traditional brokers, banks, and custodians, and realizing all-weather asset trading, transparent positions on the chain, and high liquidity.

▌Analysis: Although ETH is down 57% from its all-time high, its market value is still higher than IBM, Disney and Toyota

Despite trading at a price 57% lower than its all-time high in 2021, Ethereum's market value remains at around $252 billion, higher than global multinational giants such as Disney and Toyota, and higher than precious metal platinum. Other well-known companies that are currently lower than Ethereum's market value include IBM, McDonald's, General Electric, and Shell. If Ethereum were a company, its market value would rank 50th in the world, second only to Nestle.

Important Economic Dynamics

▌US FBI sets up Tesla Threat Task Force

The Federal Bureau of Investigation (FBI) said on Monday that it has set up a task force with the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives to investigate the attack on Tesla. The announcement came hours after a bomb disposal team found multiple incendiary devices at a showroom in Austin, Texas, where Tesla is headquartered. Tesla (TSLA.O) has been the target of a series of attacks and vandalism over its boss Elon Musk's role in the Trump administration. "The FBI has been investigating the increase in violence against Tesla, and over the past few days we have taken additional steps to combat and coordinate our response," FBI Director Kash Patel said on the social media platform. "This is domestic terrorism," Patel wrote. "Those responsible will be hunted down, caught and brought to justice." ▌ ECB Governing Council member Escriva: Downside risks to economic expectations outweigh upside risks ECB Governing Council member Escriva said the euro zone's economic expectations face downside risks outweigh upside risks. "More destructive scenarios have not materialized," the Spanish central bank governor said. "That doesn't mean there are no surprises. We need to be more prepared than ever to revise our forecasts, so be cautious." "There are some upside risks, such as fiscal policy, as long as it lasts, but the downside risks are more pronounced than the upside risks," Escriva said. The current environment is "extremely uncertain" and the U.S. government is the main reason for this, Escriva said.

▌The U.S. Dollar Index rose 0.16% on the 24th

The U.S. dollar index, which measures the U.S. dollar against major currencies, rose 0.16% on the day and closed at 104.258 at the end of the foreign exchange market.

Golden Encyclopedia

▌What is a teardrop attack in cryptocurrency?

Teardrop attacks exploit the way in which a system reassembles fragmented packets by sending overlapping fragments during transmission, and the target system cannot properly reconstruct these fragments, resulting in a denial of service. In addition, teardrop attacks can target services related to the blockchain ecosystem, such as wallet providers and cryptocurrency exchanges, rather than the blockchain infrastructure itself. These services rely primarily on continuous communication between users and servers to achieve seamless transactions and service availability.

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