13/04/2025. Weekly CryptoNews Digest (April, 7 – April, 13)

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Let’s delve into this week’s edition of the MNO Weekly CryptoNews Digest, covering the period from April 7th to April 13th, 2025. We’ll explore the most significant topics and emerging trends impacting the crypto market. Get ready for an enlightening journey into the future of finance, and enjoy the ride!

MARKETS IN FREEFALL: TRUMP’S TARIFFS WIPE OUT TRILLIONS IN VALUE

The U.S. stock market has been in turmoil following President Donald Trump’s sweeping tariff announcements, with major indexes experiencing historic losses. After a brief surge when Trump announced a 90-day pause on his tariff plan, the Dow Jones plummeted 1,014 points, while the NASDAQ dropped 737 points. The uncertainty surrounding the administration’s trade policies has led to extreme volatility, with investors struggling to predict the long-term impact. Analysts warn that the market turbulence is far from over, as some levies remain in effect, including a 125% tariff on Chinese imports.

The situation worsened on Friday, when the Dow Jones suffered a 2,231-point drop, marking one of the worst trading days in history. The S&P 500 fell 6%, pushing the market closer to correction territory. Over the past two days, the stock market has lost a staggering $6.4 trillion in value, fueling fears of a potential recession. Experts argue that Trump’s tariffs could reverse years of economic growth, with some predicting a global downturn if trade tensions escalate further. The Federal Reserve has expressed concerns that the tariffs may increase inflation and slow economic growth, adding to investor anxiety.

The global impact of Trump’s tariffs has been severe, with the FTSE 100 experiencing its worst daily drop in five years. European and Asian markets have also suffered significant losses, as countries scramble to respond to the new trade barriers. China has retaliated with a 34% tariff on U.S. imports, further escalating the trade war. The uncertainty has led to a sharp decline in investor confidence, with financial experts warning that prolonged instability could have lasting consequences for the global economy. Some leaders, including UK Prime Minister Keir Starmer, have urged caution, emphasizing the need for diplomatic solutions rather than immediate retaliation.

Despite the chaos, Trump remains defiant, insisting that his policies will ultimately “supercharge” the U.S. economy. However, many investors remain skeptical, fearing that the tariffs could cripple key industries and drive businesses away from the U.S.. The crypto market has also felt the ripple effects, with Bitcoin and other digital assets experiencing heightened volatility. As the world watches closely, the question remains: will Trump’s aggressive trade policies lead to economic revival, or will they push global markets into deeper uncertainty?

BITCOIN’S HASH RATE SOARS, BUT IS THE NETWORK LOSING USERS?

Bitcoin’s hash rate has reached an all-time high, signaling immense computational power securing the network. On a 14-day moving average, the hash rate hit 838 exahashes per second (EH/s), and on a 24-hour timeframe, it spiked to 974 EH/s, the second-highest level ever recorded. While this suggests strong miner participation, the disconnect between hash rate and actual network activity is raising concerns. Bitcoin’s difficulty adjustment is expected to increase by over 3%, making mining even more competitive. However, despite this surge in security, transaction fees remain extremely low, averaging just 4 BTC per day, or roughly $377,634.

One of the most troubling signs is the presence of near-empty blocks, which indicates a lack of transaction activity. Foundry USA Pool recently mined a block containing only seven transactions, the emptiest “non-empty” block in over two years. This trend suggests that while miners are dedicating more resources to securing the network, fewer users are actively transacting. Some analysts worry that Bitcoin is becoming more of a store-of-value asset rather than a functional payment system. If transaction activity does not increase, miners may struggle to sustain profitability as block rewards continue to halve every four years.

Industry experts are divided on the implications of this trend. Nicolas Gregory, creator of the Mercury Layer and a former Nasdaq Board Director, warned that half-empty Bitcoin blocks could threaten the network’s future. He argues that Bitcoiners must focus on real-world commerce rather than relying solely on the “digital gold” narrative. Without active usage, Bitcoin risks becoming a speculative asset rather than a decentralized financial system. Others believe that Bitcoin’s security model is evolving, with layer-two solutions like the Lightning Network absorbing more transactions, reducing on-chain activity.

Despite these concerns, Bitcoin’s mining sector remains optimistic. Some miners are holding their assets rather than selling, betting on future price appreciation. However, the long-term sustainability of Bitcoin’s economic model remains uncertain. If transaction fees do not rise to compensate for declining block rewards, miners may face financial pressure, potentially leading to centralization risks. The debate over Bitcoin’s future continues—will it remain the dominant force in crypto, or will its declining transaction activity signal a shift toward alternative blockchain solutions?

CARDANO’S MIDNIGHT AIRDROP: PRIVACY REVOLUTION OR CENTRALIZED CONTROL?

Cardano’s founder, Charles Hoskinson, has unveiled a bold new initiative with the Midnight sidechain airdrop, targeting 37 million users across multiple blockchains, including Bitcoin, Ethereum, Ripple, Solana, and Binance Smart Chain. The airdrop will distribute two tokens: NIGHT, the governance token, and DUST, a privacy-enabling utility token used in shielded transactions. Midnight aims to usher in the fourth generation of blockchain, prioritizing secure, private, and compliant data interactions, a move that has sparked both excitement and skepticism within the crypto community.

The announcement, made during Paris Blockchain Week 2025, has raised questions about the implications of such a large-scale airdrop. While proponents argue that Midnight will redefine privacy in blockchain, critics worry that the project could introduce centralized control under the guise of enhanced security. The ability for users to interact with Midnight using assets from different blockchains without conversion—referred to as chain abstraction—is a groundbreaking feature, but some fear it could lead to unforeseen regulatory challenges.

Adding to the controversy is the inclusion of XRP holders in the airdrop, signaling a growing synergy between the Cardano and Ripple ecosystems. This unexpected collaboration has fueled speculation about deeper partnerships between the two networks, especially after Ripple featured Cardano’s logo in a recent promotional video. Some analysts see this as a strategic move to strengthen interoperability, while others suspect it could be a political play to align with regulatory shifts in the U.S. following President Donald Trump’s executive order on digital assets.

Despite the mixed reactions, the Midnight project continues to gain traction, with recent upgrades to its testnet improving efficiency and user experience. The team has introduced new resources to support developers, including a compatibility matrix and a release overview page. As the crypto world watches closely, the Midnight airdrop could either set a new standard for privacy-focused blockchain solutions or ignite debates over the balance between decentralization and compliance.

WEB3 GAMING BOOM: INNOVATION OR UNSUSTAINABLE HYPE?

The Web3 gaming sector has seen remarkable growth in recent months, with blockchain-based games attracting millions of users and substantial investments. Despite a slight decline in daily active users in February, engagement remains strong, demonstrating the resilience of the industry. The sector raised an impressive $55 million in funding last month, marking a 243% increase compared to January. This surge in investment highlights the growing confidence in blockchain gaming, as developers continue to push the boundaries of decentralized entertainment.

Artificial intelligence is playing a crucial role in shaping the future of Web3 gaming, with projects integrating AI-driven features to enhance gameplay and user interactions. Platforms like Ruyui and InZOI are leveraging AI to create more immersive experiences, while Fetch.ai’s collaboration with The Game Company is introducing intelligent real-time interactions. These advancements suggest that AI-powered gaming could become a dominant force in the industry, offering players unprecedented levels of personalization and engagement.

Leading blockchain networks are competing for dominance in the gaming space, with opBNB maintaining its position as the most active platform. Aptos has quickly gained popularity, while emerging networks like Abstract and Soneium are making significant strides. Sony Block Solutions Labs’ recent launch of Soneium has been particularly noteworthy, with games like Evermoon driving adoption. The competition among blockchain networks is fueling innovation, as developers seek to create more efficient and scalable gaming ecosystems.

Despite the sector’s rapid expansion, concerns remain about sustainability and long-term viability. Some analysts warn that the hype surrounding Web3 gaming could lead to inflated expectations, with many projects struggling to deliver on their promises. Additionally, the disconnect between rising user engagement and falling token prices raises questions about the industry’s economic model. As blockchain gaming continues to evolve, the challenge will be balancing innovation with realistic growth expectations to ensure a stable and thriving ecosystem.

AI SCANDAL EXPOSED: HUMAN WORKERS BEHIND ‘AUTOMATED’ APP

The U.S. Department of Justice and the Securities and Exchange Commission have charged Albert Saniger, the founder of the Nate app, with fraud. Marketed as an AI-powered e-commerce platform, Nate claimed to automate online shopping by filling in shipping details and completing transactions without human input. However, investigations revealed that the app relied on hundreds of human workers in the Philippines to manually process transactions. This revelation has sparked outrage, as Saniger allegedly raised over $40 million from investors based on false claims about the app’s capabilities.

Court documents allege that Saniger instructed employees to conceal the app’s reliance on human labor, perpetuating the illusion of advanced AI technology. During a busy holiday season in 2021, the company even attempted to develop bots to automate some tasks, but the app’s automation rate remained effectively zero. The SEC has filed a parallel civil action, seeking to ban Saniger from holding office in similar companies and to recover funds for defrauded investors. The charges include securities fraud and wire fraud, each carrying a maximum sentence of 20 years in prison.

The scandal has raised broader concerns about the transparency of AI claims in the tech industry. Critics argue that deceptive practices like this undermine trust in genuine AI innovations and divert capital from legitimate startups. The case has also highlighted the need for stricter regulations to ensure that companies accurately represent their technological capabilities. As AI continues to evolve, the industry faces mounting pressure to maintain ethical standards and avoid misleading consumers and investors.

This incident serves as a cautionary tale for both tech companies and investors. While the allure of AI can drive significant funding and market interest, false claims can lead to severe legal and reputational consequences. The Nate app’s downfall underscores the importance of due diligence and regulatory oversight in an industry where innovation often outpaces accountability. The question remains: will this case prompt meaningful change, or will similar scandals continue to emerge?

TRUMP’S METAVERSE: INNOVATION OR POLITICAL PROPAGANDA?

DTTM Operations, a company owned by Donald Trump, has filed trademark applications for the word “TRUMP” to establish a branded metaverse and NFT marketplace. The proposed virtual world would allow users to shop for both physical and digital goods, dine in Trump-themed restaurants, and experience simulated luxury transport options like limousines and private jets. The platform also plans to offer virtual training services and guided tours of Trump hotels and government buildings, creating a unique blend of entertainment and education.

The NFT marketplace within the metaverse is designed to host digital assets authenticated by non-fungible tokens, but only content approved by Trump himself will be permitted. This raises questions about the level of control and censorship within the ecosystem. Critics argue that such restrictions could limit creativity and user engagement, while supporters believe it ensures quality and brand consistency. The trademark filing signals a significant expansion into the digital economy, aligning with Trump’s previous ventures into cryptocurrency and blockchain technologies.

The timing of this move is particularly noteworthy, as interest in the metaverse has waned since its peak in 2021. Some analysts view Trump’s entry into the space as an attempt to revive enthusiasm for virtual worlds and NFTs, while others see it as a strategic effort to consolidate his brand in the digital realm. The filing also highlights the growing intersection between politics and technology, with Trump’s metaverse potentially serving as a platform for political messaging and fundraising.

Despite the mixed reactions, the project has sparked curiosity among both crypto enthusiasts and political observers. Whether this venture will succeed in revitalizing the metaverse or face challenges due to its controversial nature remains to be seen. The initiative underscores the evolving role of blockchain technology in shaping new forms of interaction and commerce, but its long-term impact on the industry and public perception is yet to unfold.

That’s a wrap on another action-packed week in the world of crypto! The pace of innovation and change is truly something else. A big shoutout to you for being part of the MNO community and sticking with us through it all.

As Sunday rolls around, take some time to relax and recharge—you’ve earned it. Don’t forget to check out my MNO TalkBack poll – your input is what keeps our content sharp and relevant.

I’m excited to bring you the next edition of the Weekly CryptoNews Digest this coming Sunday. Keep stacking those sats (or whichever digital assets you prefer), and remember, we’re here to support you on your financial journey. You’re the heart of MNO – For Money Lovers!

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