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On April 9, Michael Saylor, founder of Strategy, stated that Bitcoin likely bottomed out around $60,000 in early February, when forced sellers were cleared from the market. He believes that the bottom is more determined by seller exhaustion rather than valuation. Currently, he sees limited selling pressure, with ETF inflows absorbing daily supply, and corporate allocations of financial assets to Bitcoin creating sustained demand. Saylor predicts that the catalyst for the next bull market will be the establishment of a banking credit and digital credit system built on Bitcoin, which will transform Bitcoin from a non-yielding asset into an engine of the capital markets. Regarding the recently discussed threat of quantum computing, he believes the risks are exaggerated, as the quantum threat remains theoretical and is likely decades away from realization, by which time solutions will also be available. Mizuho maintains an outperform rating on Strategy with a target price of $320, indicating approximately 150% upside from the current stock price of $127.

[Michael Saylor: Bitcoin May Have Bottomed Out, Quantum Risks Overstated]On April 9, Michael Saylor, founder of Strategy, stated that Bitcoin likely bottomed out around $60,000 in early February, when forced sellers were cleared from the market. He believes that the bottom is more determined by seller exhaustion rather than valuation. Currently, he sees limited selling pressure, with ETF inflows absorbing daily supply, and corporate allocations of financial assets to Bitcoin creating sustained demand. Saylor predicts that the catalyst for the next bull market will be the establishment of a banking credit and digital credit system built on Bitcoin, which will transform Bitcoin from a non-yielding asset into an engine of the capital markets. Regarding the recently discussed threat of quantum computing, he believes the risks are exaggerated, as the quantum threat remains theoretical and is likely decades away from realization, by which time solutions will also be available. Mizuho maintains an outperform rating on Strategy with a target price of $320, indicating approximately 150% upside from the current stock price of $127.

Michael Saylor: Bitcoin May Have Bottomed Out, Quantum Risks Overstated

On April 9, according to Alternative data, the cryptocurrency Fear and Greed Index today stands at 14 (down from 17 yesterday), indicating that the market remains in 'extreme fear'. Note: The fear index ranges from 0 to 100 and includes the following indicators: volatility (25%), market trading volume (25%), social media activity (15%), market surveys (15%), Bitcoin's dominance in the overall market (10%), and Google Trends analysis (10%).

[Crypto Fear Index Drops to 14, Market Remains in 'Extreme Fear']On April 9, according to Alternative data, the cryptocurrency Fear and Greed Index today stands at 14 (down from 17 yesterday), indicating that the market remains in 'extreme fear'. Note: The fear index ranges from 0 to 100 and includes the following indicators: volatility (25%), market trading volume (25%), social media activity (15%), market surveys (15%), Bitcoin's dominance in the overall market (10%), and Google Trends analysis (10%).

Crypto Fear Index Drops to 14, Market Remains in 'Extreme Fear'

On April 9, Wednesday, a federal appeals court in Washington, D.C. rejected Anthropic's request to temporarily block the Department of Defense from blacklisting the company, which is currently suing over the sanctions. Previously, a judge in a San Francisco federal court issued a preliminary injunction at the end of last month in a related case, prohibiting the Trump administration from enforcing a ban on the use of the company's Claude AI model. The appeals court stated in its ruling: "We believe that the balance of fairness in this case favors the government. On one hand, the risk of economic loss to a private company is relatively small; on the other hand, during military conflicts, how and by whom the Department of War acquires critical AI technology requires oversight from the judicial branch. Therefore, we deny Anthropic's motion for a stay pending review of the substantive issues in the case." (CNBC)

[Anthropic Fails to Temporarily Block Pentagon from Blacklisting It]On April 9, Wednesday, a federal appeals court in Washington, D.C. rejected Anthropic's request to temporarily block the Department of Defense from blacklisting the company, which is currently suing over the sanctions. Previously, a judge in a San Francisco federal court issued a preliminary injunction at the end of last month in a related case, prohibiting the Trump administration from enforcing a ban on the use of the company's Claude AI model. The appeals court stated in its ruling: "We believe that the balance of fairness in this case favors the government. On one hand, the risk of economic loss to a private company is relatively small; on the other hand, during military conflicts, how and by whom the Department of War acquires critical AI technology requires oversight from the judicial branch. Therefore, we deny Anthropic's motion for a stay pending review of the substantive issues in the case." (CNBC)

Anthropic Fails to Temporarily Block Pentagon from Blacklisting It

On April 9, BAYC developer Yuga Labs reached a settlement with conceptual artist Ryder Ripps and his business partner Jeremy Cahen regarding a long-standing trademark dispute. According to court documents, both parties have agreed on claims related to the case, although the details of the settlement have not been made public. Ripps is formally prohibited from using Yuga Labs' brand visual elements and trademarks in the future. Yuga filed a lawsuit against Ripps and Cahen in 2022, accusing them of creating a so-called satirical knockoff project using images and ape characters identical to those in the original NFT series. Ripps argued that his RR/BAYC project constituted 'expressive appropriation art' protected by the First Amendment, but in 2023, a federal court ruled that the knockoff tokens could cause confusion in the NFT market, infringing on Yuga's trademark rights, and ordered the two to pay nearly $9 million. The Ninth Circuit Court of Appeals later dismissed most of Ripps' fair use arguments, overturned the fine but confirmed that NFTs are protected under trademark law.

[Yuga Labs Settles Trademark Dispute with Artist Ryder Ripps]On April 9, BAYC developer Yuga Labs reached a settlement with conceptual artist Ryder Ripps and his business partner Jeremy Cahen regarding a long-standing trademark dispute. According to court documents, both parties have agreed on claims related to the case, although the details of the settlement have not been made public. Ripps is formally prohibited from using Yuga Labs' brand visual elements and trademarks in the future. Yuga filed a lawsuit against Ripps and Cahen in 2022, accusing them of creating a so-called satirical knockoff project using images and ape characters identical to those in the original NFT series. Ripps argued that his RR/BAYC project constituted 'expressive appropriation art' protected by the First Amendment, but in 2023, a federal court ruled that the knockoff tokens could cause confusion in the NFT market, infringing on Yuga's trademark rights, and ordered the two to pay nearly $9 million. The Ninth Circuit Court of Appeals later dismissed most of Ripps' fair use arguments, overturned the fine but confirmed that NFTs are protected under trademark law.

Yuga Labs Settles Trademark Dispute with Artist Ryder Ripps

On April 9, on-chain analyst Yu Jin reported that the Ethereum Foundation has sold 3,750 ETH out of its planned sale of 5,000 ETH, amounting to $8.3 million, with an average selling price of $2,214.

[Ethereum Foundation Sells 3,750 ETH of Planned 5,000 ETH, Worth $8.3 Million]On April 9, on-chain analyst Yu Jin reported that the Ethereum Foundation has sold 3,750 ETH out of its planned sale of 5,000 ETH, amounting to $8.3 million, with an average selling price of $2,214.

Ethereum Foundation Sells 3,750 ETH of Planned 5,000 ETH, Worth $8.3 Million

On April 9, The Block reported that BAYC developer Yuga Labs has reached a settlement with conceptual artist Ryder Ripps and his business partner Jeremy Cahen regarding a long-standing trademark dispute. According to court documents, both parties have agreed on claims related to the case, although the details of the settlement have not been disclosed. Ripps is formally prohibited from using Yuga Labs' brand visual elements and trademarks in the future. Yuga filed a lawsuit against Ripps and Cahen in 2022, accusing them of creating a so-called satirical knockoff project using images and ape characters identical to those in the original NFT series. Ripps had argued that his RR/BAYC project constituted 'expressive appropriation art' protected by the First Amendment, but a federal court ruled in 2023 that the knockoff tokens could cause confusion in the NFT market, infringing on Yuga's trademark rights, and ordered the two to pay nearly $9 million. The Ninth Circuit Court of Appeals later dismissed most of Ripps' fair use arguments, overturned the fine ruling but confirmed that NFTs are protected under trademark law.

[Yuga Labs Settles Trademark Dispute with Artist Ryder Ripps]On April 9, The Block reported that BAYC developer Yuga Labs has reached a settlement with conceptual artist Ryder Ripps and his business partner Jeremy Cahen regarding a long-standing trademark dispute. According to court documents, both parties have agreed on claims related to the case, although the details of the settlement have not been disclosed. Ripps is formally prohibited from using Yuga Labs' brand visual elements and trademarks in the future. Yuga filed a lawsuit against Ripps and Cahen in 2022, accusing them of creating a so-called satirical knockoff project using images and ape characters identical to those in the original NFT series. Ripps had argued that his RR/BAYC project constituted 'expressive appropriation art' protected by the First Amendment, but a federal court ruled in 2023 that the knockoff tokens could cause confusion in the NFT market, infringing on Yuga's trademark rights, and ordered the two to pay nearly $9 million. The Ninth Circuit Court of Appeals later dismissed most of Ripps' fair use arguments, overturned the fine ruling but confirmed that NFTs are protected under trademark law.

On April 9, Wednesday, a federal appeals court in Washington, D.C. rejected Anthropic's request for a temporary injunction to prevent the Department of Defense from blacklisting the company, which is currently suing over the sanctions. Previously, a judge in a San Francisco federal court issued a preliminary injunction against the Trump administration's enforcement of a ban on the use of the company's Claude AI model in a related case. The appeals court stated in its ruling: "We believe that the fair balance in this case favors the government. On one hand, the risk of economic loss to a private company is relatively small; on the other hand, during military conflicts, how and by whom the Department of Defense acquires critical AI technology requires judicial oversight. Therefore, we deny Anthropic's motion for a stay pending review of the substantive issues in the case." (CNBC)

[Anthropic Fails to Temporarily Block Pentagon from Blacklisting]On April 9, Wednesday, a federal appeals court in Washington, D.C. rejected Anthropic's request for a temporary injunction to prevent the Department of Defense from blacklisting the company, which is currently suing over the sanctions. Previously, a judge in a San Francisco federal court issued a preliminary injunction against the Trump administration's enforcement of a ban on the use of the company's Claude AI model in a related case. The appeals court stated in its ruling: "We believe that the fair balance in this case favors the government. On one hand, the risk of economic loss to a private company is relatively small; on the other hand, during military conflicts, how and by whom the Department of Defense acquires critical AI technology requires judicial oversight. Therefore, we deny Anthropic's motion for a stay pending review of the substantive issues in the case." (CNBC)

Anthropic Fails to Temporarily Block Pentagon from Blacklisting

On April 9, CoinDesk reported that Morgan Stanley's Bitcoin spot ETF experienced active trading on its first day, with over 1.6 million shares traded and inflows of approximately $34 million. The fee rate is only 0.14%, the lowest among similar products, emphasizing price competitiveness in the market. In addition to the low fee, supported by Morgan Stanley's extensive wealth management network, the MSBT is expected to gain traction as more investors are introduced to Bitcoin through financial advisors. However, there remains uncertainty about whether it can maintain its early momentum in a market dominated by a few large players.

[Morgan Stanley Bitcoin Spot ETF Sees $34 Million in Inflows on First Day]On April 9, CoinDesk reported that Morgan Stanley's Bitcoin spot ETF experienced active trading on its first day, with over 1.6 million shares traded and inflows of approximately $34 million. The fee rate is only 0.14%, the lowest among similar products, emphasizing price competitiveness in the market. In addition to the low fee, supported by Morgan Stanley's extensive wealth management network, the MSBT is expected to gain traction as more investors are introduced to Bitcoin through financial advisors. However, there remains uncertainty about whether it can maintain its early momentum in a market dominated by a few large players.

Morgan Stanley Bitcoin Spot ETF Sees $34 Million in Inflows on First Day

On April 9, the ruling Democratic Party of South Korea proposed the 'Digital Asset Basic Law' this Wednesday, aiming to establish a comprehensive legal framework for the issuance, trading, custody, and supervision of digital assets. The bill categorizes value-associated digital assets, such as stablecoins linked to fiat currency or real assets, as a special category, requiring issuers to obtain authorization and meet strict standards including capital thresholds, reserve plans, and redemption obligations. Additionally, the bill will introduce licensing, registration, and information disclosure systems for digital asset businesses, prohibit market manipulation and insider trading, and propose the establishment of a Digital Asset Committee to coordinate policy.

[South Korea's Ruling Party Proposes 'Digital Asset Basic Law' to Establish Banking-Level Stablecoin Regulatory Framework]On April 9, the ruling Democratic Party of South Korea proposed the 'Digital Asset Basic Law' this Wednesday, aiming to establish a comprehensive legal framework for the issuance, trading, custody, and supervision of digital assets. The bill categorizes value-associated digital assets, such as stablecoins linked to fiat currency or real assets, as a special category, requiring issuers to obtain authorization and meet strict standards including capital thresholds, reserve plans, and redemption obligations. Additionally, the bill will introduce licensing, registration, and information disclosure systems for digital asset businesses, prohibit market manipulation and insider trading, and propose the establishment of a Digital Asset Committee to coordinate policy.

South Korea's Ruling Party Proposes 'Digital Asset Basic Law' to Establish Banking-Level Stablecoin Regulatory Framework

Sources told Axios that after laying off most of Twitter's senior management team, Musk plans to cut up to 30% of staff in select divisions starting this weekend, including more than 15-30% in product. The layoffs are expected to take place by Nov. 1, when most employees' quarterly stock options are due on Nov. 1.

Detail

【Sources: Musk plans to lay off up to 30% of Twitter in some departments】Sources told Axios that after laying off most of Twitter's senior management team, Musk plans to cut up to 30% of staff in select divisions starting this weekend, including more than 15-30% in product. The layoffs are expected to take place by Nov. 1, when most employees' quarterly stock options are due on Nov. 1.

Sources: Musk plans to lay off up to 30% of Twitter in some departments

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Sources: Musk plans to lay off up to 30% of Twitter in some departments

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