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JPMorgan issued a stark warning about growing economic risks on April 4, as Richard Madigan, chief investment officer of its private bank, outlined the potential consequences of escalating tariffs. In a note titled “High Anxiety: Market Implications of Tariffs,” Madigan described a dramatic shift in the market narrative, from optimism to fear, as trade tensions deepen. “Liberation to isolation,” he wrote, following China’s decision to impose a 34% counter tariff on all imported U.S. goods. He warned that the current policy path may drive the U.S. and global economies closer to recession. The JPMorgan executive projected that tariffs, if left in place, could push inflation up by “+1-2%” and take a comparable toll on economic growth. He warned: If the U.S. tariffs announced stick and we don’t see further tit-for-tat escalation, rising concern of slower growth and higher inflation may become something worse, a race to recession. Self-inflicted pain. He advised investors to monitor 10-year bond yields closely, as a drop would suggest markets are increasingly pricing in recession risk. Madigan also flagged corporate earnings expectations as overly optimistic: “I expect the 10% earnings forecast this year will quickly ratchet lower. The same for next year.” Madigan likened the U.S. trade stance to an overly aggressive opening in a negotiation: “We’re watching in real time a ‘101-class’ on negotiation. It begins with anchoring.” But when starting points are “absurdly high,” he cautioned, credibility suffers. “No one’s happy with the tariffs announced except the President,” Madigan wrote, suggesting the current approach risks alienating trading partners and dragging the global economy down. On monetary policy, he pushed back against expectations for four Federal Reserve rate cuts, stating: That strikes me unlikely. I’m anchoring on one, the second half of this year. If growth abruptly turns lower, perhaps two. Time will tell. With consumer spending faltering and companies potentially scaling back hiring, the JPMorgan executive concluded: “Tail risk is higher, markets aren’t inexpensive, the outlook’s uncertain.” 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

Charles Hoskinson ’s announcement that Bitcoin will be integrated into Cardano’s DeFi ecosystem adds even more bullish momentum to the ADA forecast . The news broke ahead of the Bitcoin 2025 Conference in Las Vegas, where a live demo of this integration is set to be showcased. The integration aims to connect Cardano’s Hydra Layer 2 scaling solution with Bitcoin’s Lightning Network, enabling a trustless and recursive bridge between the two networks. This would allow Bitcoin holders to access DeFi tools directly on Cardano price , without needing to convert their BTC into another token. Additionally, the Aiken programming language will allow developers to create smart contracts compatible with both chains, simplifying the process of building cross-chain dApps and attracting developers from both ecosystems. This push to onboard Bitcoin into Cardano’s DeFi is not just a technical upgrade—it’s a strategic move that could trigger major liquidity flow into the Cardano ecosystem. Hoskinson stated that the integration has the potential to position Cardano as a DeFi leader , possibly surpassing Ethereum and Solana in terms of total ecosystem value if successful. Moreover, if institutional Bitcoin holders begin seeking DeFi yields through Cardano-based products , ADA’s price could see exponential demand growth. While there’s no fixed date for full implementation, the 2025 target demo builds a solid narrative for ADA’s long-term upside. Cardano is once again under the spotlight, as several market analysts have forecasted a significant price surge by 2025. With ADA currently trading around $0.65, bullish projections suggest the token could rally to $3 or even $5, fueled by growing network developments and a major interoperability update on the horizon. Crypto influencer Alex Becker recently shared his enthusiasm for Cardano, stating it's "fast as hell" and "the most decentralized, reasonable blockchain next to Ethereum." He emphasized that at its current price, ADA is still an easy entry for investors anticipating a breakout. Other analysts echo this sentiment, noting that a price above $3 is “long overdue", considering Cardano’s current undervaluation and upcoming roadmap milestones. With ADA’s bullish price predictions ranging between $3 and $5, and the integration of Bitcoin into its DeFi architecture, Cardano is making bold moves that could reshape its standing in the crypto space. As we approach the 2025 Bitcoin Conference , all eyes will be on whether Cardano can deliver on its promise and usher in a new era of BTC-powered DeFi. Charles Hoskinson ’s announcement that Bitcoin will be integrated into Cardano’s DeFi ecosystem adds even more bullish momentum to the ADA forecast . The news broke ahead of the Bitcoin 2025 Conference in Las Vegas, where a live demo of this integration is set to be showcased. The integration aims to connect Cardano’s Hydra Layer 2 scaling solution with Bitcoin’s Lightning Network, enabling a trustless and recursive bridge between the two networks. This would allow Bitcoin holders to access DeFi tools directly on Cardano price , without needing to convert their BTC into another token. Additionally, the Aiken programming language will allow developers to create smart contracts compatible with both chains, simplifying the process of building cross-chain dApps and attracting developers from both ecosystems. This push to onboard Bitcoin into Cardano’s DeFi is not just a technical upgrade—it’s a strategic move that could trigger major liquidity flow into the Cardano ecosystem. Hoskinson stated that the integration has the potential to position Cardano as a DeFi leader , possibly surpassing Ethereum and Solana in terms of total ecosystem value if successful. Moreover, if institutional Bitcoin holders begin seeking DeFi yields through Cardano-based products , ADA’s price could see exponential demand growth. While there’s no fixed date for full implementation, the 2025 target demo builds a solid narrative for ADA’s long-term upside. Cardano is once again under the spotlight, as several market analysts have forecasted a significant price surge by 2025. With ADA currently trading around $0.65, bullish projections suggest the token could rally to $3 or even $5, fueled by growing network developments and a major interoperability update on the horizon. Crypto influencer Alex Becker recently shared his enthusiasm for Cardano, stating it's "fast as hell" and "the most decentralized, reasonable blockchain next to Ethereum." He emphasized that at its current price, ADA is still an easy entry for investors anticipating a breakout. Other analysts echo this sentiment, noting that a price above $3 is “long overdue", considering Cardano’s current undervaluation and upcoming roadmap milestones. With ADA’s bullish price predictions ranging between $3 and $5, and the integration of Bitcoin into its DeFi architecture, Cardano is making bold moves that could reshape its standing in the crypto space. As we approach the 2025 Bitcoin Conference , all eyes will be on whether Cardano can deliver on its promise and usher in a new era of BTC-powered DeFi.

Co-founder of BitMEX Arthur Hayes warns that U.S. Treasuries may no longer hold their position as the world’s top reserve asset. In a post on X, he says America’s expanding debt, coupled with changing trade policies and rising global tension, could push investors toward gold and Bitcoin. Hayes points to the sharp rise in U.S. federal debt since the gold standard ended in 1971, using a St. Louis Fed chart showing an 85-fold increase. Hayes says this expansion reflects the credit needed to support the global economy as the U.S. dollar took center stage in trade and finance. Related: The Unexpected Upside: Tariffs Depress Treasury Yields, Shine Light on Crypto He noted that this debt-driven growth has produced uneven results. Some Americans gained wealth, while others saw few benefits. Hayes argues that this divide fueled political discontent, leading to the election of Donald Trump by those who felt excluded from decades of economic expansion. Trump’s push to reduce the U.S. current account deficit via tariffs could backfire, Hayes stated. If foreign nations earn fewer dollars through trade, they might be forced to sell existing U.S. Treasury and equity holdings to support their own economies, rather than recycling dollars into buying more U.S. assets. Hayes added that even if tariffs ease later, policy uncertainty might deter foreign reliance on the U.S. financial system long-term. Given this potential instability, Hayes believes gold will re-emerge as a preferred neutral reserve asset, as it’s untethered to national policies like tariffs and tradable globally. He anticipates central banks increasingly using gold for international trade settlement. He also highlighted Bitcoin as a digital alternative store of value, likely gaining appeal as trust in traditional financial systems weakens. Related: Bitcoin Not Suitable for Reserves, Says South Korea’s Central Bank Hayes predicts these macroeconomic shifts, particularly potential currency turmoil between the U.S. and China, could ultimately launch Bitcoin’s price to $1 million. He specifically forecasts the USD/CNY exchange rate reaching 10.00, driven by political pressures and Beijing’s policy resistance, calling this currency shift a potential “super bazooka” for Bitcoin. Hayes plans to elaborate on the USDCNY dynamic in a future essay. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The U.S. Treasury Department and other federal agencies are expected to disclose their Bitcoin and cryptocurrency holdings later today, April 5th. Anticipation centers on whether major altcoins like XRP, Solana (SOL), and Cardano (ADA) are included, validating President Trump’s previously announced plan for a “digital asset stockpile.” Arkham Intelligence data indicates the US Government already holds approximately 198,012 Bitcoin (~$16 billion). President Trump’s earlier directive outlined a reserve including Bitcoin, Ethereum, XRP, Solana, and Cardano. That initial announcement significantly helped the market, fueling a 33% surge in XRP’s price. While XRP has since pulled back, dipping below $3 in February and now testing around $2 most recently, analysts suggest today’s confirmation could serve as another major catalyst. Related: Top Trader Maps XRP Dip to $1.80, Then $5 Rally According to analysis, XRP price is at a critical juncture. XRP is currently trading sideways, forming a potential triangle pattern on the daily chart. It’s still unclear whether this is part of a triangle or a larger wave structure and the key support level to watch is around $1.21. As long as XRP holds above this level, the bullish trend remains valid. If the price drops below $1.77, it could confirm a move lower toward the $1.20–$1.50 range. Related: XRP Price Prediction: Can Bulls Push Past $2.10 for Rally to $2.68? On the upside, the immediate resistance is at $2.23. A break above this level could lead to a move toward $2.56–$2.83. For bullish momentum to strengthen, XRP would need to break above $2.57 or even $3.40. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

According to data available on DeFiLlama’s fees page, which tracks fees across various DeFi protocols, there was a huge spike in fees on the Polymarket platform. The surge in fee generation could be attributed to a rise in user activity or transaction volume on the platform. Historically, the Polymarket prediction market platform records increased engagement during high-profile events, such as elections, major sports outcomes, or significant global developments, as punters scramble to place bets or speculate on outcomes. On a monthly scale, the DefiLlama data shows that April has been Polymarket’s most profitable month in terms of fees. This is just the fifth day in the month, but the platform appears to have already amassed more than half of its all-time fees. It sounds ridiculous, but it’s true. The data appears even more interesting on the weekly and daily fee charts. The weekly data shows that there was only average activity on the platform between January and March, but that changed in April, which is still in its first week at the time of this publication. The daily fee data revealed even more. It showed that Polymarket fees did not really spike until April 3, when it recorded $7.33M. It has since maintained a value above $7M on a daily basis, reinforcing the platform’s recent spike. Polymaket may be one of the rare winners of the “Liberation Day” tariff announcements by Donald Trump on April 2, 2025. The announcement saw him unveil a sweeping tariff plan targeting goods from nearly all countries, and it sent shockwaves through the traditional financial markets. The Dow reflected this, reportedly dropping 3,700 points between April 2 and 3, while Polymarket’s recession odds jumped from 51% to 60% by April 4. This reflects a frenzy of activity from punters who scrambled to wager on the economic outcomes directly tied to the tariff news. Public sentiments on X from April 3 align with this, showing Polymarket’s recession odds rose from 33% to 47% and inflation bets above 4% jumped from 17% to 48% within 48 hours, alongside a $2 trillion wipeout in US stock market value. The spike in activity and fees aligns with Polymarket’s historical pattern of fee spikes during high-stakes events—like the 2024 US presidential election, which saw election bets push fees to notable heights. The tariff announcement is expected to drive economic chaos with traders flooding markets like “US recession in 2025?” or “Will the NYSE hit a circuit-breaker?”—both of which saw sharp probability shifts on Polymarket. An increased amount of trades equates to more USDC flowing into the platform, pumping the fee totals tracked by DeFiLlama, even if Polymarket has stated that it doesn’t pocket them directly. Another rationale for the spike is a change in Polymarket’s operations—for example, a change in its fee structure. However, the platform claims it has not changed its fee structure in a significant way that introduces trading, deposit, or withdrawal fees as a primary revenue model. Polymarket has always operated with a no-fee model. Its official documentation and statements from CEO Shayne Coplan highlight the platform’s focus on growth over monetization, so while it may charge fees in the future, there is no timeline of when they may be implemented yet. The platform has, in the past, generated revenue indirectly through spreads on trading and liquidity provision rather than directly imposing fees on users. Even though Polymarket saw a huge spike in income, according to DefiLlama, it still falls behind Tether with its cumulative revenue. Tether’s rival, Circle took the final top-three spot in terms of cumulative fees and revenue. Tether (USDT) and Circle (USDC) are stablecoin issuers whose incomes are linked mainly to the interest earned on the reserves backing their stablecoins, even though some additional revenue comes from redemption or issuance fees. Both companies operate identical business models, and their primary revenue comes from investing their reserves in interest-bearing instruments, such as US Treasury bills, which have yielded 3.5%-5% annually in recent years thanks to elevated interest rates. Nevertheless, data shows that Tether makes more profit than Circle, with recent estimates suggesting the USDT issuer earned over $18 million in revenue in the last 24 hours, while Circle reported $6.35 million. This is even though USDT’s circulating supply is only about 2.3 times greater than USDC’s. In fact, on a per-unit basis, Tether reportedly generates roughly 20 times more profit per stablecoin than Circle. Another reason for this huge difference could be Tether’s affinity for taking on riskier or higher-yield investments. Meanwhile, Circle, regulated as it is, has said its reserves are held in safe assets like Treasuries and cash, which yield a predictable but modest return. Tether is less transparent about its reserves only listing “secured loans” and other non-transparent assets which suggests it could be chasing higher returns not minding the added risk. There is also the fact that Circle is at a structural disadvantage because of its inability to keep more of its revenue in-house. This is because of its deal with Coinbase, which gives it a cut of USDC’s economics, diluting Circle’s per-unit profit. Tether has no such major partner and retains full control over its issuance and redemption process, which allows it to keep more of its revenue in-house. It also charges a 0.1% redemption fee for converting USDT back to fiat, providing a small but steady revenue stream, especially with high-volume users. Circle, on the other hand, offers users fee-free redemptions, leading to what has been tagged “vampire attacks,” an arbitrage process where users swap USDT for USDC to cash out cheaper. Overall, Tether has more market dominance than Circle, which allows its reserves to grow faster, thereby compounding interest earnings. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot