Daily News: Fed Official Says No Immediate Need to Adjust Rates, Binance Launchpool Lists Initia (INIT)

From Fed's Williams stating no immediate need to adjust rates to Binance Launchpool's listing of Initia (INIT), here are the latest updates shaping the crypto landscape.

SEC Officially Announces Agenda and Participants for Cryptocurrency Custody Roundtable

According to an official announcement from the U.S. Securities and Exchange Commission (SEC), the SEC's Cryptocurrency Working Group will host a roundtable titled "Know Your Custodian: Key Considerations for Cryptocurrency Custody" on April 25. The event will take place at the SEC headquarters in Washington, D.C., from 1 PM to 5 PM. Topics include "Custody through Broker-Dealers and Other Means" and "Custody by Investment Advisers and Investment Companies."

Participants from the SEC include Acting Chairman Mark Uyeda, Commissioner Caroline Crenshaw, and Commissioner Hester Peirce. Other attendees include Jason Allegrante (Fireblocks), Rachel Anderika (Anchorage Digital Bank), Terrence Dempsey (Fidelity Digital Assets), Mark Greenberg (Kraken), Tammy Weinrib (Copper), Larry Florio (1kx), Ryan Louvar (WisdomTree), and others.

Fed's Williams: No Immediate Need to Adjust Rates

According to Jin10.com, Fed's Williams stated that monetary policy is well-positioned and there is no immediate need to adjust interest rates.

Trump: Powell Should Have Cut Rates Long Ago, End His Term Quickly

U.S. President Trump posted on social media: The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!

China Drafting Rules on Handling Seized Cryptocurrency Assets

According to Reuters, despite China's ban on cryptocurrency trading, local governments are currently selling these digital assets in overseas markets through private companies to supplement fiscal revenue, raising regulatory and compliance concerns. In 2023, the amount involved in crypto-related crimes in China surged to 430.7 billion yuan, with local government forfeiture income reaching a record 378 billion yuan. Due to the lack of unified regulations, local governments mainly dispose of seized cryptocurrencies through private companies in overseas markets. Lawyers are reportedly discussing rule changes with senior judges and police, which could soon alter how confiscated virtual currencies are handled.

Market News: Binance Engages with Sovereign Wealth Funds to Establish Cryptocurrency Reserves

According to Solid Intel, market news suggests that Binance has been approached by several governments and sovereign wealth funds interested in establishing cryptocurrency reserves.

a16z Announces $55 Million Follow-On Investment in LayerZero to Purchase ZRO, with a 3-Year Lock-Up

According to a16z General Partner Ali Yahya, a16z has made an additional $55 million investment to purchase tokens of the cross-chain protocol LayerZero (ZRO), with a lock-up period of 3 years.

Binance Launchpool Lists Initia (INIT)

According to an official announcement, Binance Launchpool has launched its 68th project—Initia (INIT). Starting from 8:00 AM on April 18, 2025 (UTC+8), users can stake BNB, FDUSD, and USDC into the INIT reward pool to earn INIT over a 6-day period. Binance will list Initia (INIT) on April 24, 2025, at 7:00 PM (UTC+8), opening trading pairs INIT/USDT, INIT/USDC, INIT/BNB, INIT/FDUSD, and INIT/TRY under seed label trading rules.

• Total Token Supply: 1,000,000,000 INIT

• Maximum Token Supply: 1,000,000,000 INIT

• Initial Circulation: 148,750,000 INIT (14.88% of total token supply)

• Launchpool Total: 30,000,000 INIT (3.0% of maximum token supply)

• An additional 10,000,000 INIT will be allocated in batches for marketing activities post-spot listing. Detailed rules will be announced separately.

• An additional 20,000,000 INIT will be allocated in batches for marketing activities 6 months after the spot listing. Detailed rules will be announced separately.

Eliza Labs Launches No-Code AI Agent Platform auto.fun

According to The Block, Eliza Labs has officially launched a no-code AI agent launchpad platform called auto.fun, similar to pump.fun. The platform allows users to deploy complex AI agents without a technical background and features a fairer token issuance mechanism aimed at promoting sustainable token economic development. Over 15 projects have already integrated, including FightFi, Kryptonite, and Sigma Music.

Analyst: GSR Likely Market Maker for WCT, Transfers 4 Million WCT Tokens to Binance

According to analyst The Data Nerd, market maker GSR has transferred a large amount of WCT tokens to Binance in the past 24 hours. The analyst suggests that GSR may be the market maker for WCT. Specifically, GSR transferred approximately 4 million WCT (about $1.61 million) to Binance 6 hours ago. The total WCT transferred to Binance that day reached 7 million tokens (about $3.46 million).

Jihan Wu Responds to BTDR Short Report: Illogical, Reserves Legal Rights

Jihan Wu, Chairman and CEO of Bitdeer (BTDR), issued a statement on X, seemingly responding to a short report on BTDR. He stated that the report is based on preconceived notions, piecing together complex but unrelated facts using absurd and misleading logic to create a narrative aimed at manipulating market sentiment for the benefit of short sellers. He emphasized that the company will continue to focus on its core business fundamentals and long-term value creation while reserving the right to take legal action to protect its reputation and shareholder interests.

On April 16, an institution named Callisto Research released a short report on Bitdeer (BTDR), stating, "We are shorting Bitdeer $BTDR, a Nasdaq-listed Bitcoin mining company. We found red flags in Bitdeer's disclosures, governance, and related-party transactions. We believe BTDR is not worth investing in without thorough transparency reforms."

VanEck to Launch New Crypto-Related ETF "NODE" on May 14

According to Cointelegraph, VanEck plans to launch a new crypto-related ETF named "NODE" on May 14. This ETF will invest in 30 to 60 stocks related to the digital asset economy, including investments in crypto exchanges, Bitcoin mining companies, and data centers.