White House Council of Economic Advisers: Stablecoin Yields Will Not Threaten Small Banks
On April 8, the White House Council of Economic Advisers (CEA) released an analysis report noting that banning crypto firms from offering yields on stablecoins would have minimal impact on small and community banks’ deposit and lending operations.
Economic modeling shows that even if the ban takes effect, total bank lending would rise by just 0.02%—roughly $21 billion—while community bank lending would see a mere 0.026% uptick (around $5 billion). Even under a worst-case scenario where the stablecoin market expands sixfold, community bank lending would climb by only 6.7% (some $129 billion)—far from the banking industry’s prior warnings of “disastrous” outcomes: $13 trillion in deposit outflows and an $850 billion drop in lending.
The report directly pushed back against concerns from banking industry lobbying groups over stablecoin yield products, stating stablecoins do not pose a significant threat to traditional banks.
Currently, the U.S. Congress’s “Cryptocurrency Market St
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Aster announces the launch of Marina Protocol (BAY) perpetual contract, trade to share a $50,000 ASTER token reward.
**Aster Launches BAY Perpetual Contract, $50K ASTER Rewards Up for Grabs**
On April 8, Aster announced the launch of the Marina Protocol (BAY) perpetual contract. Traders who participate can share $50,000 in ASTER token rewards.
### Key Details
- **BAYUSDT Launch Time**: 20:00 UTC+8 on April 8
- **Reward Pool**: $50,000 worth of ASTER tokens
- **Event Period**: 20:00 UTC+8, April 8 – 22:00 UTC+8, April 15
- **Fee Bonus**: BAYUSDT perpetual contract trades get a 1.2x bonus on trading fees during the event
### Reward Calculation Rules
Rewards are distributed proportionally based on a user’s BAYUSDT perpetual contract trading fees relative to all eligible users:
\[ \text{Reward} = \text{Total Reward Pool} \times \left( \frac{\text{User’s BAYUSDT Fees}}{\text{Total Eligible Users’ BAYUSDT Fees}} \right) \]
### Eligibility & Limits
- Users must generate **total trading fees > $5** to qualify
- Single user reward cap: 3% of the total reward pool
- Rewards < 1 AS
1 minutes ago
Bitcoin Breaks $72,000, 24-hour Gain 5.45%
Bitcoin surpassed $72,000 on April 8th, per HTX market data, posting a 24-hour gain of 5.45%.
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US Secretary of Defense: Ceasefire is just a temporary pause, and the coalition remains ready to resume operations at any time
**April 8 — U.S. Secretary of Defense Hagerseith announced today that the United States has secured a decisive military victory in Iran, which he said had sought the current ceasefire agreement.**
- U.S. forces launched 800 airstrikes Tuesday night, destroying Iran’s defense industrial base and rendering the country unable to produce missiles, rockets or drones.
- The ceasefire ensures Iran will never acquire nuclear weapons, the secretary stated, adding the U.S. has met all its military objectives in Iran.
- The ceasefire is a temporary pause; coalition forces remain ready to resume operations at any time.
- The U.S. hopes Iran will choose lasting peace, Hagerseith noted.
- All parties have reached consensus: the Strait of Hormuz is now open. Iran will allow vessel passage, and warships may transit the strait.
- The ceasefire agreement will take effect over time.
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Exodus Movement Bitcoin Holdings Increase to 628 BTC
April 8 — Per Globenewswire, U.S. publicly traded self-hosted crypto firm Exodus Movement has released its updated digital asset holdings as of March 31. Key updates include:
- Bitcoin (BTC) holdings increased to 628 BTC (monthly net gain of 18 BTC)
- Ethereum (ETH) holdings rose to 1,857 ETH (monthly net gain of 17 ETH)
- Solana (SOL) holdings climbed to 17,541 SOL (monthly net gain of 1,847 SOL)
1 minutes ago
Pharos Announces Completion of $44 Million Series A Funding
On April 8th, Layer 1 blockchain network Pharos announced it has completed a $44 million Series A funding round, led jointly by several undisclosed leading institutions—including Asian private equity funds, a listed new energy firm, and Hong Kong-based regulated financial institutions. The capital will be used to speed up the buildout of on-chain real-world asset (RWA) infrastructure across Asia and globally.
1 minutes ago
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