SpaceX has raised its IPO valuation target to over $2 trillion as it prepares to market what could be the largest IPO in history to potential investors. SpaceX's valuation is expected to grow by nearly two-thirds within months. In February, SpaceX acquired Elon Musk's xAI, valuing the combined company at $1.25 trillion. A listing with a valuation exceeding $2 trillion would give SpaceX a market capitalization exceeding all companies in the S&P 500 except Nvidia, Apple, Alphabet, Microsoft, and Amazon, as well as Meta and Tesla. SpaceX has secretly filed for an IPO, with the listing potentially taking place as early as June, and is expected to raise up to $75 billion, far surpassing the previous record of $29 billion set by Saudi Aramco in 2019. The funds raised will be used for space-based AI data centers and lunar factory projects. SpaceX has selected Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley as lead underwriters for its IPO and plans to hold a conference call with the banking syndicate next Monday, followed by an analyst briefing later in April. Bloomberg Intelligence analysts point out that SpaceX's revenue is projected to reach nearly $20 billion by 2026, with launch operations and Starlink contributing the majority of that revenue.

The Cardano Foundation has reported a significant shift in its reserve composition by the end of 2025. According to NS3.AI, ADA accounted for 51.6% of the reserves, while Bitcoin's share increased to 25.5%, and cash and financial assets made up 22.9%. The foundation's total assets were valued at 287.5 million Swiss francs, marking a 45% decrease compared to the previous year. Additionally, the foundation allocated 23.6 million Swiss francs towards technology, adoption, and governance initiatives in 2025.

Hyperliquid announced that following the next network upgrade, users with trading accounts valued at over $10,000 will be able to enable Portfolio Margin without any trading volume requirements. New users can immediately use this mode after depositing funds. Meanwhile, accounts with a weighted average trading volume of $5 million or more will continue to be eligible for Portfolio Margin, and this rule remains unchanged.

On April 3, Hyperliquid announced that the results of its binary market testnet transactions have been incorporated into the mainnet-level bug bounty program. According to BlockBeats, the current scope of the bug bounty does not include multi-result markets. While feedback on the front end is welcome, it is not eligible for rewards under the bug bounty program. Previously, Hyperliquid revealed that HyperCore would support result trading (HIP-4). The result is a fully collateralized contract with a settlement price confined within a fixed range. This serves as a versatile foundational trading component, applicable to prediction markets and bounded options tools.

According to a report published on the China Judgments Online website, the Honggang District People's Court of Daqing City, Heilongjiang Province, recently released a first-instance judgment, sentencing Zhang to ten years in prison and Zhao to four years and ten months in prison for theft. Zhang and Zhao, for illegal profit, illegally tapped into high-voltage power lines at an oil field to steal electricity and set up 36 Bitcoin mining machines in an abandoned pigsty. The investigation revealed that on September 8, 2024, Zhang illegally tapped into a high-voltage power line at an oilfield owned by a limited liability company in Daqing, stealing electricity from an abandoned pigsty in a rented slaughterhouse to power his Bitcoin mining machines. Zhang purchased 24 mining machines. Later, Zhang contacted Zhao and invited him to join them in operating the Bitcoin mining machines. On December 12, 2024, Zhao, seeing Zhang profiting from cryptocurrency mining, knowingly participated in stealing electricity from an oil field to power Bitcoin mining rigs. Zhao funded the purchase of 12 mining rigs, and the two operated a total of 36 Bitcoin mining rigs. Zhang was responsible for contacting suppliers to purchase the rigs, illegally connecting to the power grid, providing operating space for the rigs, providing maintenance services, and selling Bitcoins. Zhao assisted Zhang with daily checks of the 36 machines and provided on-site maintenance for the rig switches. On August 1, 2025, Zhang and Zhao were arrested by the police. It was calculated that Zhang stole 565,375.2 kWh of electricity from the oil field, worth RMB 438,580.52. Zhao, from December 12, 2024 onwards, stole 468,060 kWh of electricity from the oil field, worth RMB 363,750.78. The court held that the defendants Zhang and Zhao, with the intent to illegally possess, stole public and private property, the amount of which was particularly large, and their actions constituted the crime of theft. This case was a joint crime; Zhang played a principal role and was the principal offender; Zhao played a secondary and auxiliary role and was an accessory. Given that both Zhang and Zhao confessed and pleaded guilty, and considering Zhao's status as an accessory, a lighter or reduced sentence was appropriate in accordance with the law. (China News Weekly)

Antpool's cloud mining product has recently attracted significant interest from novice investors. According to BlockBeats, the product simplifies participation in cryptocurrency mining by breaking down the computational power of physical mining machines into smaller units, reducing the barriers related to hardware procurement and maintenance. Antpool has achieved full platform coverage, allowing users to subscribe to mining services through its website or official app store with a single click, enabling immediate mining upon purchase. This model provides unified maintenance and hosting services, granting non-professional users access to professional-grade mining resources.

Jeff, co-founder of Hyperliquid, announced on the community platform that testnet result transactions in the binary market have now been immediately incorporated into the mainnet-level bug bounty program. Currently, the scope of bug bounties does not include the multi-result market. Front-end feedback is welcome, but it is not included in the bug bounty program rewards.

The cryptocurrency market has seen generally subdued trading recently, with Bitcoin fluctuating narrowly around $66,600. A brief rebound failed to break through the $67,000 mark. Meanwhile, Trump's tougher signals towards Iran have exacerbated geopolitical tensions, and rising energy prices have increased inflation expectations, weakening market bets on interest rate cuts (previously a significant support for Bitcoin's rise). Data shows that wallets holding 1,000 to 10,000 BTC have cumulatively reduced their holdings by approximately 188,000 BTC since last year's high. At the current price, nearly half of Bitcoin is at a loss, indicating significant market pressure. (CoinDesk)

According to the announcement from Binance, the platform is celebrating Easter with a community activity that offers participants the chance to share 8,000 USDC in token vouchers. The event is divided into two separate activities on Discord and WhatsApp, each with its own set of rules and rewards. The Discord Egg Hunt runs from 2026-04-03 12:00 (UTC) to 2026-04-13 12:00 (UTC). Participants are required to join the Binance Discord server and search for a hidden Easter Egg emoji each day. Once found, users must note the number next to the emoji and submit it in the #easter-egg-hunt channel using the format “!egg” followed by the number. Daily rewards of 1,000 USDC will be distributed, with the first 10 users who correctly identify the daily egg number receiving $10 in USDC. Additionally, a final completion reward of 4,000 USDC will be shared among the first 1,000 users who submit all 10 egg numbers correctly, with each receiving 4 USDC. Participants can earn a maximum of 14 USDC during the activity period. The WhatsApp Egg Hunt takes place from 2026-04-03 12:00 (UTC) to 2026-04-10 23:59 (UTC). Participants must join the Binance WhatsApp channel, where daily posts will provide hints to locate hidden egg numbers across the Binance ecosystem. Users are required to complete a daily survey with the correct egg number. A total of 3,000 USDC in token vouchers will be equally shared among users who answer all seven surveys correctly. Rewards will be distributed before 2026-04-30, and users can redeem their token voucher rewards via the Rewards Hub. Binance emphasizes that only verified users who confirm participation during the promotion period are eligible for rewards.

A working paper published by the Bank of Canada shows that Aave V3 achieved zero non-performing loans in 2024, but its risk control mechanism essentially transfers all losses to borrowers to protect lenders' interests (BOC). Based on transaction data from January 27, 2023 to May 6, 2025, the study found that Aave V3, relying on over-collateralization and automatic liquidation mechanisms, completed liquidation before the collateral value fell below the outstanding debt, effectively curbing lenders' losses. However, this model comes at the expense of borrowers' interests, and its capital efficiency is lower than traditional lending systems. The paper also points out that recursive leverage (i.e., repeatedly borrowing with collateral and then using the lent assets as new collateral in a cyclical operation) accounted for over 20% of the total loan volume and 8.2% of the number of loans, exacerbating borrowers' risk exposure during market downturns. Liquidation events showed a concentrated outbreak, with WETH, wstETH, WBTC, and weETH accounting for 90% of the total liquidation value. (Cointelegraph)

Powerus, a drone company partially owned by Trump's two sons—Donald Trump Jr. and Eric Trump—is selling drone interceptors to Gulf states.

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Beneath the surface of apparent calm lies a turbulent undercurrent; this is often a facade before a storm. When liquidity and volatility reach extremely low levels, even greater volatility will follow.

Currently, the biggest impact of high oil prices is not on the economic level, but on the psychological level. The effects of tariffs, immigration deportations, artificial intelligence, and robotics are far more lasting than high oil prices.