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On April 1, during a speech at the White House, U.S. President Trump stated that after intense strikes from the U.S. and Israel, Iran will need '15 to 20 years' to complete its reconstruction. He told reporters, 'We want to destroy everything they have. We have set them back. They need 15 to 20 years to rebuild everything we have done to them.' He added, 'They have no navy. They have no army. They have no air force. They have no telecommunications facilities. They have no air defense systems. They have no leaders.' Trump further remarked, 'It would be great if they come to the negotiating table, but whether they do or not is not important.'

[Trump: Iran Needs 15 to 20 Years for Reconstruction]On April 1, during a speech at the White House, U.S. President Trump stated that after intense strikes from the U.S. and Israel, Iran will need '15 to 20 years' to complete its reconstruction. He told reporters, 'We want to destroy everything they have. We have set them back. They need 15 to 20 years to rebuild everything we have done to them.' He added, 'They have no navy. They have no army. They have no air force. They have no telecommunications facilities. They have no air defense systems. They have no leaders.' Trump further remarked, 'It would be great if they come to the negotiating table, but whether they do or not is not important.'

Trump: Iran Needs 15 to 20 Years for Reconstruction

On April 1, the National Intellectual Property Administration issued a risk alert today, stating that AI tools such as OpenClaw (formerly known as Clawdbot and Moltbot) have been exposed to have weak default security configurations, which can lead to serious security risks. Additionally, using such AI tools to draft patent application documents may also induce multiple risks. (CCTV)

[National Intellectual Property Administration: Using AI Tools like OpenClaw for Patent Applications May Induce Multiple Risks]On April 1, the National Intellectual Property Administration issued a risk alert today, stating that AI tools such as OpenClaw (formerly known as Clawdbot and Moltbot) have been exposed to have weak default security configurations, which can lead to serious security risks. Additionally, using such AI tools to draft patent application documents may also induce multiple risks. (CCTV)

National Intellectual Property Administration: Using AI Tools like OpenClaw for Patent Applications May Induce Multiple Risks

On April 1, U.S. officials expressed concerns about indirect negotiations with Iran through third parties, stating that direct talks would be more effective. The official noted that while Pakistan is willing to assist in mediating the conflict, the U.S. has reservations about using Islamabad as a negotiation venue, primarily due to security risks. Additionally, the official pointed out that previous mediation efforts through Oman had not yielded satisfactory results. (CCTV)

[U.S. Officials: Third-Party Mediation Ineffective, Direct Talks with Iran Preferred]On April 1, U.S. officials expressed concerns about indirect negotiations with Iran through third parties, stating that direct talks would be more effective. The official noted that while Pakistan is willing to assist in mediating the conflict, the U.S. has reservations about using Islamabad as a negotiation venue, primarily due to security risks. Additionally, the official pointed out that previous mediation efforts through Oman had not yielded satisfactory results. (CCTV)

U.S. Officials: Third-Party Mediation Ineffective, Direct Talks with Iran Preferred

On April 1, Jeff Schmid, president of the Federal Reserve Bank of Kansas City, stated that inflation in the United States could remain elevated, close to 3%, due to rising energy prices triggered by the US-Israel-Iran conflict. Schmid pointed out that this increase in oil prices occurs against a backdrop of inflation that is 'already too high and has persisted for too long.' He emphasized that the Federal Reserve should not simply assume that inflation caused by rising energy prices is temporary. He stressed that, given the current high levels of inflation, the ongoing impact of rising energy prices on overall inflation should not be overlooked.

[Federal Reserve Official: US-Israel-Iran Conflict May Lead to Sustained High Inflation in the US]On April 1, Jeff Schmid, president of the Federal Reserve Bank of Kansas City, stated that inflation in the United States could remain elevated, close to 3%, due to rising energy prices triggered by the US-Israel-Iran conflict. Schmid pointed out that this increase in oil prices occurs against a backdrop of inflation that is 'already too high and has persisted for too long.' He emphasized that the Federal Reserve should not simply assume that inflation caused by rising energy prices is temporary. He stressed that, given the current high levels of inflation, the ongoing impact of rising energy prices on overall inflation should not be overlooked.

Federal Reserve Official: US-Israel-Iran Conflict May Lead to Sustained High Inflation in the US

On April 1, Russian Ambassador to Iran Alexey Dedov stated in an interview with Russian media on March 31 that Iran's Supreme Leader Mujtaba Khamenei is currently in Iran but is avoiding public appearances. According to TASS, Dedov reported that, as repeatedly stated by the Iranian leadership, Mujtaba is avoiding public appearances 'for obvious reasons.' Dedov mentioned that he has not yet been in contact with Mujtaba. However, he emphasized that Russian President Putin was one of the first foreign leaders to send congratulations to Mujtaba.

[Russian Ambassador: Iran's Supreme Leader Currently in Iran]On April 1, Russian Ambassador to Iran Alexey Dedov stated in an interview with Russian media on March 31 that Iran's Supreme Leader Mujtaba Khamenei is currently in Iran but is avoiding public appearances. According to TASS, Dedov reported that, as repeatedly stated by the Iranian leadership, Mujtaba is avoiding public appearances 'for obvious reasons.' Dedov mentioned that he has not yet been in contact with Mujtaba. However, he emphasized that Russian President Putin was one of the first foreign leaders to send congratulations to Mujtaba.

Russian Ambassador: Iran's Supreme Leader Currently in Iran

On April 1, Bitcoin mining company Bitfarms (BITF) confirmed during its fourth-quarter earnings call that it has begun selling its Bitcoin holdings and plans to continue selling until its Bitcoin balance sheet reaches zero. CEO Ben Gagnon stated that the company will "timely sell" Bitcoin when the market strengthens, while continuing its mining operations to "maximize free cash flow before selling mining rigs." According to data from BitcoinTreasuries.net, Bitfarms currently holds 1,827 BTC and generated $28.2 million in revenue from Bitcoin sales in 2025. Bitfarms is advancing its pipeline for a 2.2 GW AI and high-performance computing data center, aiming to start generating AI-driven revenue by 2027. Shareholders have approved the relocation of the company's registered office to the United States and a name change to Keel Infrastructure (KEEL), expected to be completed around April 1, 2026, at which point the stock will trade under the KEEL ticker. On Tuesday, BITF's stock price rose by 4.6%.

[Bitfarms Plans to Liquidate All Bitcoin on Balance Sheet, Shifts Focus to AI Infrastructure]On April 1, Bitcoin mining company Bitfarms (BITF) confirmed during its fourth-quarter earnings call that it has begun selling its Bitcoin holdings and plans to continue selling until its Bitcoin balance sheet reaches zero. CEO Ben Gagnon stated that the company will "timely sell" Bitcoin when the market strengthens, while continuing its mining operations to "maximize free cash flow before selling mining rigs." According to data from BitcoinTreasuries.net, Bitfarms currently holds 1,827 BTC and generated $28.2 million in revenue from Bitcoin sales in 2025. Bitfarms is advancing its pipeline for a 2.2 GW AI and high-performance computing data center, aiming to start generating AI-driven revenue by 2027. Shareholders have approved the relocation of the company's registered office to the United States and a name change to Keel Infrastructure (KEEL), expected to be completed around April 1, 2026, at which point the stock will trade under the KEEL ticker. On Tuesday, BITF's stock price rose by 4.6%.

Bitfarms Plans to Liquidate All Bitcoin on Balance Sheet, Shifts Focus to AI Infrastructure

On April 1, asset management company WisdomTree stated that the Clarity Act currently being discussed in the U.S. Congress is not a necessary prerequisite for advancing its crypto and tokenization business, as industry innovation can continue under the existing regulatory framework. Will Peck, the company's head of digital assets, pointed out that the SEC's existing tools are sufficient to support the development of tokenized securities and funds, stating, 'We do not see this bill as a barrier.' WisdomTree has been actively investing in the crypto and tokenization space in recent years, having launched a spot Bitcoin ETF in the U.S. and offering various crypto exchange-traded products in Europe. Recently, the company has focused on tokenizing real-world assets (RWA), particularly money market funds, and has achieved a certain market fit. Peck revealed that the fund has achieved near 'real-time settlement' through regulatory exemptions, allowing investors to switch between dollars, stablecoins (such as USDC), and the fund at any time, showcasing a new model for traditional financial products on the blockchain. The company plans to further expand into more tokenized products, including ETFs and income-generating assets, enabling investors to access traditional financial assets directly through digital wallets. Although Peck believes the Clarity Act has positive implications for the industry, he emphasized that industry development has not stalled, stating, 'Even amidst market fluctuations, we are still moving full speed ahead (all systems go).'

[WisdomTree: Clarity Act is Not a Barrier to Crypto Innovation, Existing Regulations are Sufficient]On April 1, asset management company WisdomTree stated that the Clarity Act currently being discussed in the U.S. Congress is not a necessary prerequisite for advancing its crypto and tokenization business, as industry innovation can continue under the existing regulatory framework. Will Peck, the company's head of digital assets, pointed out that the SEC's existing tools are sufficient to support the development of tokenized securities and funds, stating, 'We do not see this bill as a barrier.' WisdomTree has been actively investing in the crypto and tokenization space in recent years, having launched a spot Bitcoin ETF in the U.S. and offering various crypto exchange-traded products in Europe. Recently, the company has focused on tokenizing real-world assets (RWA), particularly money market funds, and has achieved a certain market fit. Peck revealed that the fund has achieved near 'real-time settlement' through regulatory exemptions, allowing investors to switch between dollars, stablecoins (such as USDC), and the fund at any time, showcasing a new model for traditional financial products on the blockchain. The company plans to further expand into more tokenized products, including ETFs and income-generating assets, enabling investors to access traditional financial assets directly through digital wallets. Although Peck believes the Clarity Act has positive implications for the industry, he emphasized that industry development has not stalled, stating, 'Even amidst market fluctuations, we are still moving full speed ahead (all systems go).'

WisdomTree: Clarity Act is Not a Barrier to Crypto Innovation, Existing Regulations are Sufficient

On April 1, according to CME's 'FedWatch': The probability of the Federal Reserve raising interest rates by 25 basis points in April is 1.6%, while the probability of keeping rates unchanged is 98.4%. The probability of the Fed cumulatively lowering rates by 25 basis points by June is 3.9%, the probability of maintaining rates is 94.6%, and the probability of a cumulative increase of 25 basis points is 1.5%.

[Fed's Probability of Keeping Rates Unchanged in April at 98.4%]On April 1, according to CME's 'FedWatch': The probability of the Federal Reserve raising interest rates by 25 basis points in April is 1.6%, while the probability of keeping rates unchanged is 98.4%. The probability of the Fed cumulatively lowering rates by 25 basis points by June is 3.9%, the probability of maintaining rates is 94.6%, and the probability of a cumulative increase of 25 basis points is 1.5%.

Fed's Probability of Keeping Rates Unchanged in April at 98.4%

On April 1, OSL Group, a global stablecoin payment and trading platform, announced its annual performance for the year ending December 31, 2025. The company's core operating revenue reached HKD 534 million, a year-on-year increase of 150.1%. Total revenue amounted to HKD 489 million, marking a historic high with a year-on-year growth of 30.4%. The platform's total trading volume was HKD 201.22 billion, up 200.7% compared to the previous year. By region, Hong Kong accounted for 33% of revenue, while overseas contributed 67%.

[OSL Reports Record 2025 Annual Performance: Total Revenue Up 30.4% to HKD 489 Million]On April 1, OSL Group, a global stablecoin payment and trading platform, announced its annual performance for the year ending December 31, 2025. The company's core operating revenue reached HKD 534 million, a year-on-year increase of 150.1%. Total revenue amounted to HKD 489 million, marking a historic high with a year-on-year growth of 30.4%. The platform's total trading volume was HKD 201.22 billion, up 200.7% compared to the previous year. By region, Hong Kong accounted for 33% of revenue, while overseas contributed 67%.

OSL Reports Record 2025 Annual Performance: Total Revenue Up 30.4% to HKD 489 Million

Francine McKenna is a lecturer in financial accounting at The Wharton School at the University of Pennsylvania. She currently produces a newsletter, The Dig, about public and pre-IPO companies.
The first red flag anyone receiving these reports should have seen is that there were two different audit firms producing them. The choice of firms itself is questionable. These are two small outfits, not even on the next tier to the Big Four global audit firms – Deloitte, Ernst &Young, KPMG and PricewaterhouseCoopers. Armanino and Prager Metis do audit a few public companies but none of the size or complexity of FTX. Because the firms are so small, the audit regulator, the Public Company Accounting Oversight Board (PCAOB), inspects them only once every three years.
The second red flag for any reader of the 2021 audit reports is that neither the Armanino nor the Prager Metis audit reports for 2021 provides an opinion on the FTX US or FTX Trading internal controls over accounting and financial reporting.
The third red flag is, despite a combination of enormous siphoning off of firm assets by related parties and favorable tax planning, neither FTX Trading nor FTX US paid any federal income taxes, although they both appeared to be profitable. 
The biggest red flag for preparers and readers of the audited financial statements should have been the number of complex, roundtrip and utterly confounding related-party transactions documented in just these two years.

Detail

【Penn Wharton accountant lists multiple red flags for FTX before collapse】Francine McKenna is a lecturer in financial accounting at The Wharton School at the University of Pennsylvania. She currently produces a newsletter, The Dig, about public and pre-IPO companies.
The first red flag anyone receiving these reports should have seen is that there were two different audit firms producing them. The choice of firms itself is questionable. These are two small outfits, not even on the next tier to the Big Four global audit firms – Deloitte, Ernst &Young, KPMG and PricewaterhouseCoopers. Armanino and Prager Metis do audit a few public companies but none of the size or complexity of FTX. Because the firms are so small, the audit regulator, the Public Company Accounting Oversight Board (PCAOB), inspects them only once every three years.
The second red flag for any reader of the 2021 audit reports is that neither the Armanino nor the Prager Metis audit reports for 2021 provides an opinion on the FTX US or FTX Trading internal controls over accounting and financial reporting.
The third red flag is, despite a combination of enormous siphoning off of firm assets by related parties and favorable tax planning, neither FTX Trading nor FTX US paid any federal income taxes, although they both appeared to be profitable. 
The biggest red flag for preparers and readers of the audited financial statements should have been the number of complex, roundtrip and utterly confounding related-party transactions documented in just these two years.

Penn Wharton accountant lists multiple red flags for FTX before collapse

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Penn Wharton accountant lists multiple red flags for FTX before collapse

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