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On April 3, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated that PMI survey data indicates the U.S. economy is under pressure from rising prices and increasing uncertainty, exacerbated by the Middle East conflict, which has heightened concerns over recent policy decisions. The services sector has contracted for the first time since January 2023, dragging the overall economy down to an annualized growth rate of only 0.5% in March, a near-stagnation level. The consumer-facing services industry has been the most severely affected, with the decline in March being one of the largest since data collection began in 2009, aside from the pandemic lockdown period. The financial services and technology sectors, which performed strongly last year, are showing signs of weakening due to volatility in financial markets and concerns over rising interest rates. The key factor behind the deteriorating economic growth is a decline in spending, attributed to decreasing purchasing power, while soaring energy prices in March have significantly increased costs and sales prices. Survey data shows that businesses are increasingly willing to pass costs onto customers in the coming months, which could accelerate consumer price inflation to nearly 4%.

[U.S. Services Sector Contracts for the First Time in Three Years]On April 3, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated that PMI survey data indicates the U.S. economy is under pressure from rising prices and increasing uncertainty, exacerbated by the Middle East conflict, which has heightened concerns over recent policy decisions. The services sector has contracted for the first time since January 2023, dragging the overall economy down to an annualized growth rate of only 0.5% in March, a near-stagnation level. The consumer-facing services industry has been the most severely affected, with the decline in March being one of the largest since data collection began in 2009, aside from the pandemic lockdown period. The financial services and technology sectors, which performed strongly last year, are showing signs of weakening due to volatility in financial markets and concerns over rising interest rates. The key factor behind the deteriorating economic growth is a decline in spending, attributed to decreasing purchasing power, while soaring energy prices in March have significantly increased costs and sales prices. Survey data shows that businesses are increasingly willing to pass costs onto customers in the coming months, which could accelerate consumer price inflation to nearly 4%.

U.S. Services Sector Contracts for the First Time in Three Years

On April 3, Agora announced that it will gradually cease the issuance and support of AUSD on the Injective network starting April 3, 2026. According to the latest adjustments, no new AUSD will be minted on Injective from this date, and holders of AUSD on this network will no longer receive any rewards. However, users can still redeem AUSD at a 1:1 value, with the redemption window lasting until September 28, 2026. This adjustment only applies to the Injective network and does not affect AUSD operations on other chains. Regarding the redemption process, Agora stated that its clients can complete the operation through their account contacts. Users simply need to send their AUSD on Injective to the official channel, and the platform will assist in converting it to AUSD on the user-specified chain or exchanging it for USD and other supported stablecoins. The official emphasized that September 28, 2026, is the standard redemption deadline, and while remaining assets can still be processed afterward, additional KYC verification processes may be required, along with related fees. Agora pointed out that this decision stems from its regular assessment mechanism for multi-chain deployment, with key considerations including actual usage, ecosystem health, and infrastructure costs. After a comprehensive evaluation, Agora decided to strategically scale down AUSD operations on the Injective network to optimize resource allocation and enhance overall operational efficiency.

[Agora Announces Cessation of AUSD Stablecoin Issuance on Injective, Redemption Window Until September 28]On April 3, Agora announced that it will gradually cease the issuance and support of AUSD on the Injective network starting April 3, 2026. According to the latest adjustments, no new AUSD will be minted on Injective from this date, and holders of AUSD on this network will no longer receive any rewards. However, users can still redeem AUSD at a 1:1 value, with the redemption window lasting until September 28, 2026. This adjustment only applies to the Injective network and does not affect AUSD operations on other chains. Regarding the redemption process, Agora stated that its clients can complete the operation through their account contacts. Users simply need to send their AUSD on Injective to the official channel, and the platform will assist in converting it to AUSD on the user-specified chain or exchanging it for USD and other supported stablecoins. The official emphasized that September 28, 2026, is the standard redemption deadline, and while remaining assets can still be processed afterward, additional KYC verification processes may be required, along with related fees. Agora pointed out that this decision stems from its regular assessment mechanism for multi-chain deployment, with key considerations including actual usage, ecosystem health, and infrastructure costs. After a comprehensive evaluation, Agora decided to strategically scale down AUSD operations on the Injective network to optimize resource allocation and enhance overall operational efficiency.

Agora Announces Cessation of AUSD Stablecoin Issuance on Injective, Redemption Window Until September 28

On April 3, according to Iran's Tasnim News Agency, the U.S. military deployed a Black Hawk helicopter and a C-130 Hercules transport aircraft on April 3 in an attempt to rescue a U.S. fighter pilot shot down by Iran, but was unsuccessful.

[Iranian Media Reports Failed U.S. Rescue of Pilot]On April 3, according to Iran's Tasnim News Agency, the U.S. military deployed a Black Hawk helicopter and a C-130 Hercules transport aircraft on April 3 in an attempt to rescue a U.S. fighter pilot shot down by Iran, but was unsuccessful.

Iranian Media Reports Failed U.S. Rescue of Pilot

On-chain investigator ZachXBT released a "Circle Inaction File" on the X platform, alleging that the stablecoin issuer Circle failed to freeze illicit funds in a timely manner during multiple major security incidents. These incidents include Drift Protocol (April 2026, $280 million lost), SwapNet (January 2026, $16 million lost), and Cetus Protocol (May 2025, $223 million lost), among others. Furthermore, similar delays or failures to execute freezes were observed in incidents involving Mango Markets, Nomad Bridge, the Ledger supply chain attack, and GMX.

In contrast, peers like Tether and Paxos responded more quickly in some of these cases. ZachXBT pointed out that despite Circle possessing freeze and blacklist capabilities and being subject to US regulation, it reacted slowly to numerous law enforcement and industry requests, leading to significant fund outflows. He emphasized that the statistics presented only cover major public events, and the actual scale of losses could be higher, raising questions about Circle's actual beneficiaries in its compliance execution.

[On-Chain Investigator ZachXBT Alleges Over $420 Million in Potential Losses Due to Circle's Inaction Since 2022]On-chain investigator ZachXBT released a "Circle Inaction File" on the X platform, alleging that the stablecoin issuer Circle failed to freeze illicit funds in a timely manner during multiple major security incidents. These incidents include Drift Protocol (April 2026, $280 million lost), SwapNet (January 2026, $16 million lost), and Cetus Protocol (May 2025, $223 million lost), among others. Furthermore, similar delays or failures to execute freezes were observed in incidents involving Mango Markets, Nomad Bridge, the Ledger supply chain attack, and GMX.

In contrast, peers like Tether and Paxos responded more quickly in some of these cases. ZachXBT pointed out that despite Circle possessing freeze and blacklist capabilities and being subject to US regulation, it reacted slowly to numerous law enforcement and industry requests, leading to significant fund outflows. He emphasized that the statistics presented only cover major public events, and the actual scale of losses could be higher, raising questions about Circle's actual beneficiaries in its compliance execution.

On-Chain Investigator ZachXBT Alleges Over $420 Million in Potential Losses Due to Circle's Inaction Since 2022

Decentralized email platform Dmail Network has announced its closure after five years of operation, citing high infrastructure costs, insufficient profitability, failed fundraising, and limited token utility as reasons. The platform stated that it will gradually cease all services starting May 15 and urged users to export their data before this date. The platform indicated that all nodes will be shut down after May 15, at which point users will no longer be able to access their emails and accounts.

[Decentralized Email Platform Dmail to Cease Operations on May 15]Decentralized email platform Dmail Network has announced its closure after five years of operation, citing high infrastructure costs, insufficient profitability, failed fundraising, and limited token utility as reasons. The platform stated that it will gradually cease all services starting May 15 and urged users to export their data before this date. The platform indicated that all nodes will be shut down after May 15, at which point users will no longer be able to access their emails and accounts.

Decentralized Email Platform Dmail to Cease Operations on May 15

As of April 3rd, market pricing indicates a decrease in expectations for Federal Reserve interest rate cuts in 2026. (Jinshi)

[Market Pricing Shows Reduced Bets on Fed Rate Cuts in 2026]As of April 3rd, market pricing indicates a decrease in expectations for Federal Reserve interest rate cuts in 2026. (Jinshi)

Market Pricing Shows Reduced Bets on Fed Rate Cuts in 2026

On April 3rd, White House National Economic Council Director Hassett stated that the United States is ready to export more products to Eastern markets. (Jinshe)

[White House NEC Director: US Ready to Export More to Eastern Markets]On April 3rd, White House National Economic Council Director Hassett stated that the United States is ready to export more products to Eastern markets. (Jinshe)

White House NEC Director: US Ready to Export More to Eastern Markets

On April 3, according to CME's "FedWatch": The probability of the Federal Reserve raising rates by 25 basis points in April is 0.5%, while the probability of keeping rates unchanged is 99.5%, both unchanged from before the announcement. The probability of the Fed cumulatively cutting rates by 25 basis points by June is 2.0% (down from 7.8% before the announcement), while the probability of maintaining rates is 97.5% (up from 91.7% before the announcement), and the probability of a cumulative rate hike of 25 basis points remains at 0.5% (unchanged from before the announcement).

[Probability of Fed Keeping Rates Unchanged in June Increases After Non-Farm Payrolls Released]On April 3, according to CME's "FedWatch": The probability of the Federal Reserve raising rates by 25 basis points in April is 0.5%, while the probability of keeping rates unchanged is 99.5%, both unchanged from before the announcement. The probability of the Fed cumulatively cutting rates by 25 basis points by June is 2.0% (down from 7.8% before the announcement), while the probability of maintaining rates is 97.5% (up from 91.7% before the announcement), and the probability of a cumulative rate hike of 25 basis points remains at 0.5% (unchanged from before the announcement).

Probability of Fed Keeping Rates Unchanged in June Increases After Non-Farm Payrolls Released

On April 3rd, the United States reported that the seasonally adjusted nonfarm payroll employment increased by 178,000 in March, surpassing the forecast of 60,000. (JIN10)

[US Nonfarm Payrolls Rise to 178,000 in March, Exceeding Expectations]On April 3rd, the United States reported that the seasonally adjusted nonfarm payroll employment increased by 178,000 in March, surpassing the forecast of 60,000. (JIN10)

US Nonfarm Payrolls Rise to 178,000 in March, Exceeding Expectations

The official website of the White House recently released the "G20 Bali Leaders’ Declaration", in which US President Biden and the G20 leaders said, "We welcome ongoing work by the FSB and international standard setters to ensure that the crypto-assets ecosystem, including so-called stablecoins, is closely monitored and subject to robust regulation, supervision, and oversight to mitigate potential risks to financial stability. We welcome the FSB’s proposed approach for establishing a comprehensive international framework for the regulation of crypto-asset activities based on the principle of ‘same activity, same risk, same regulation’. "

Detail

【The White House issued "G20 Bali Leaders’ Declaration"】The official website of the White House recently released the "G20 Bali Leaders’ Declaration", in which US President Biden and the G20 leaders said, "We welcome ongoing work by the FSB and international standard setters to ensure that the crypto-assets ecosystem, including so-called stablecoins, is closely monitored and subject to robust regulation, supervision, and oversight to mitigate potential risks to financial stability. We welcome the FSB’s proposed approach for establishing a comprehensive international framework for the regulation of crypto-asset activities based on the principle of ‘same activity, same risk, same regulation’. "

The White House issued "G20 Bali Leaders’ Declaration"

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The White House issued "G20 Bali Leaders’ Declaration"

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