Global

4E: "Black Monday" strikes, global risk assets plummet

ChainCatcher news reports that, according to 4E monitoring, a tariff storm is sweeping the globe, and market panic is spreading, intensifying the sell-off of risk assets. Following a nearly 10% drop last week, U.S. stock futures opened sharply lower on Monday, with S&P 500 and Nasdaq futures at one point falling over 5%. As of the time of writing, the declines have narrowed to 2.39% and 3.17%, respectively, while Dow futures fell 2.42%. The Asia-Pacific stock markets also opened with significant losses, with the Nikkei index plummeting 8.1%, the South Korean KOSPI index dropping 5.14%, and all three major A-share indices falling over 4%. The Hong Kong Hang Seng index opened down 9.28%.The cryptocurrency market also experienced a significant downturn, closely mirroring the performance of U.S. stocks. Bitcoin fluctuated narrowly around $83,000 over the weekend, but began to break through key support levels early Monday morning, hitting a low of $77,100, marking a nearly one-month low. Other major cryptocurrencies also saw sharp declines, with Ethereum dropping 13.5% to $1,580. The total global cryptocurrency market capitalization shrank from $2.4 trillion to $2.16 trillion, a decrease of 10%. The total liquidation amount across the network in the past 24 hours was $886 million. The market is in a state of extreme panic.The commodities market also did not escape unscathed. Spot gold fell below the psychological level of $3,000, hitting a low of $2,971. U.S. oil dropped to $59.80 per barrel, down 12% from last week's high, marking a new low since April 2021.

Arthur Hayes: Bitcoin will benefit from the retreat of the dollar reserve system and the global trend of de-dollarization

ChainCatcher news, BitMEX co-founder Arthur Hayes stated: "The era of U.S. Treasury bonds (and to a lesser extent, U.S. stocks) as global reserve assets is coming to an end. Since Nixon decoupled the dollar from gold in 1971, the total amount of U.S. Treasury bonds has increased by 85 times. The U.S. has had to create credit currency that matches global economic growth. This is a boon for some Americans and a bane for others. Trump's election was driven by those who felt they had not shared in the 'fruits of prosperity' over the past 50 years.Once the U.S. current account deficit is eliminated, foreigners will not have dollars to purchase U.S. bonds and stocks. If countries begin to shift towards 'national priority' policies to boost their own economies, they will sell off their holdings of U.S. Treasuries and stocks to gain liquidity in their own currencies. Even if Trump later softened his stance on tariffs, no Treasury Secretary or head of state would dare to bet that he wouldn't flip-flop again. Therefore, the world cannot return to the way it was before. Every country must fight for itself.Gold will return as a neutral reserve asset. The dollar will still be the global reserve currency, but countries will settle global trade by holding gold. Trump has hinted at this, as gold is tariff-free! In the new monetary system, gold must circulate freely and at low cost.Today, those who have benefited immensely from the old system are mostly still in denial, immersed in a fantasy: that everything will eventually return to 'normal.' Absurd to the extreme.Those who wish to adapt to a return to the global trade order before 1971 should buy gold, gold mining companies, and Bitcoin (BTC)."

MEET48 completed its token round financing, led by Liang Xinjun, Hash Global, and Hashkey Capital

ChainCatcher news, focusing on the entertainment sector's AI-Agent and AIUGC creators and fan economy ecosystem MEET48 has announced the completion of its token round financing, with a fully diluted valuation (FDV) of $100 million. Co-founder of Fosun Group, Liang Xinjun, along with Hash Global and HashKey Capital, led the investment, with participation from Animoca Brands, Infinity Labs, Promontory, Oak Grove, and several Web3 individuals. The new funds will be used to support the development of its team and the creation of related AI products. The MEET48 ecosystem community will provide users with a one-click customization feature for virtual idol AI Idol-Agent, enabling various functions such as chatting, live streaming, and virtual performances, while efficiently generating AI images, texts, songs, and dance content using AIGC technology in the virtual music and dance vertical. Additionally, the community will offer an AI-exclusive creation tool, AIShowBOX, supporting 3D character customization, intelligent choreography, and other in-depth creations, assisting users in automated operations and global dissemination of Idol-Agent.The MEET48 community's supporting MEME cultivation and launch platform, MarsProtocol, will be launched on the BNB Chain, providing a tokenized trading platform for Meme creators and serving as a source of AI creators for the entire ecosystem community. Furthermore, the AI-AGENT social foundation of the MEET48 ecosystem, the AI-AGENT large-scale music and dance simulation game, and the AI-AGENT large-scale casual game will also be launched successively, all utilizing the same governance token for community incentives.

4E: Radical tariff policies severely impact US stocks and the cryptocurrency market, intensifying concerns about a global economic recession

ChainCatcher news reports that, according to 4E monitoring, Trump's tariff plan is much more aggressive than the market expected, triggering strong investor concerns about a full-blown trade war leading to an economic recession. On Thursday, all three major U.S. stock indices fell sharply, with the Nasdaq dropping 5.97%, marking the largest single-day decline since March 2020; the S&P 500 fell 4.84%, and the Dow Jones dropped 3.98%, both the largest single-day declines since June 2020. Major tech stocks plummeted, as tariffs are expected to impact the supply chain, with Apple falling over 9%. The market capitalization of the "Magnificent 7" evaporated by about $1 trillion in a single day, reaching its lowest point since early August last year.The cryptocurrency market also saw a widespread decline. Bitcoin fell from a high of $88,000 before the tariff announcement to nearly $81,000, a significant drop, but still relatively strong compared to tech stocks. Various sectors of the market experienced widespread losses, with the overall cryptocurrency market capitalization dropping nearly 8%. The crypto fear and greed index, which had recovered in March, fell back into the "extreme fear" range.The foreign exchange and commodity markets were also affected, with the dollar index falling 1.61% to its lowest level since October 2024, erasing all gains since Trump's election; the outlook for slowing global economic growth caused oil prices to plummet nearly 7%, marking the largest single-day decline since July 2022. Spot gold prices fluctuated narrowly, remaining basically flat compared to the previous trading day.Trump's tariffs have caused a bloodbath in the financial markets, and the non-farm payroll report for March is set to be released tonight. Before the potential impact of import tariffs on the data, the labor market is expected to remain stable. The market is closely watching Powell's speech, and according to the CME FedWatch tool, traders' pessimism about the U.S. economic outlook has significantly increased the likelihood of an emergency rate cut by the Federal Reserve, with the number of expected rate cuts this year rising from two a month ago to four.
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