【4/11(Fri)Top 10 Major web3 News】 Gate.io celebrates its 12th anniversary / Babylon deploys Genesis mainnet / President Trump repealing anti-DeFi IRS regulations etc...
A 5-minute commentary on today's major news stories!
Hello.
Mitsui from web3 researcher.
This is a summary of the major news stories of the last 24 hours.Please use it to stay informed.
Gate.io Celebrates 12th Anniversary with Rebranding and Upgrades
North Carolina Bill Proposes Allowing Taxes to Be Paid Using Cryptocurrency
US Senate Democrats Call DOJ Crypto Division Abolition "Nonsense"
Interchain Labs Releases IBC Eureka to Connect Ethereum to the Cosmos Ecosystem
Bitcoin Staking Protocol Babylon Deploys Genesis Mainnet in Second Phase of Phased Launch
🟦Gate.io Celebrates 12th Anniversary with Rebrand and Upgrade
Gate.io, the world's leading cryptocurrency trading platform, celebrated a significant milestone with its 12th anniversary by officially announcing a brand renewal and upgrade and launching a new Chinese name: Damen
Gate.io was founded in 2013 and has grown to become the world's leading trading platform with 22 million users
To mark this important milestone, Gate.io will host a series of events in Dubai on April 29-30 to celebrate with users and industry partners worldwide
🇺🇸President Trump signs virtual currency bill, becomes first president to repeal anti-DeFi IRS regulations
President Donald Trump signed his first virtual currency bill Thursday, formally repealing a Biden-era IRS rule that required decentralized financial platforms to collect and report the same taxpayer information as traditional brokers
The bill is not only the first virtual currency bill enacted by President Trump, but also the first virtual currency bill signed by a U.S. president
The resolution would repeal the IRS's so-called DeFi broker rule, first proposed by the Biden administration in 2023
🟥Nasdaq Files Rule Change to List VanEck Avalanche ETF
Nasdaq has filed a rule change with the SEC that would allow the exchange to list shares of exchange-traded funds (ETFs) linked to the Avalanche's spot price, a filing on Thursday showed
Encouraged by the Trump administration's improved virtual currency regulatory environment, asset managers have begun offering altcoin-focused funds in recent months
On Thursday, 21Shares filed for a doji coin ETF, joining Grayscale and Bitwise in seeking to list funds based on the popular meme coin
🟦Trump's World Liberty Financial denies selling Ethereum
World Liberty Financial denies that the project sold millions of dollars worth of Ethereum at a huge loss earlier this week, dismissing reports to that effect as "completely inaccurate"
Yesterday, in the midst of market turmoil caused by President Donald Trump's tariff policy changes, reports were circulating that the project had sold $8 million worth of ETH at a significant loss
🟧Bitcoin lags stocks and gold in Q1: Kaiko
Bitcoin still outperformed all other major altcoins in the first quarter, despite falling about 25% from its January high
But according to the latest quarterly report from Silkworm Research, it is lagging behind real assets such as stocks and gold
But not all is doom and gloom
Kaiko researchers have identified four key areas to watch in the second quarter.They are trade policy, stable coin usage, ETF expiration, and digital gold!
💴North Carolina Bill Proposes Allowing Tax Payments Using Cryptocurrency
North Carolina lawmakers have proposed a bill that would allow the use of cryptocurrencies for economic transactions, including tax payments
The state has previously proposed legislation to allow state investment in cryptocurrencies
⚠️US Senate Democrats Call Justice Department's Elimination of Crypto Division "Pointless"
Six Democratic senators have criticized the Justice Department's decision to scale back oversight of virtual currency crimes, saying it gives "immunity" to criminals
Six Democratic senators, including Senator Elizabeth Warren (D-Mass.), said in a letter that the decision to grant "immunity" to virtual currency money launderers is a "grave mistake" that will allow them to evade sanctions, drug trafficking, fraud and child sexual exploitation
🧟Some people lost $10 million selling CryptoPunk NFT
CryptoPunk's NFT sold for about $6 million on Thursday, a $10 million discount from when it was purchased about a year ago!
The drop in the selling price was mainly due to the decline in the value of Ethereum compared to the U.S. dollar
🪐Interchain Labs Releases IBC Eureka to Connect Ethereum to Cosmos Ecosystem
Interchain Labs Announces New Bridge Product, IBC Eureka, to Connect Ethereum to the Cosmos Blockchain System
IBC Eureka, the Inter Blockchain Communication (IBC) protocol, enables quick and affordable connections between Ethereum and Cosmos using the Cosmos Hub
Recommended Articles *Only available for free for a weekFoil] Establishes futures market to stabilize prices of gas and blob space
Foil is a futures market protocol for reducing price volatility of gas and blob space on Ethereum, providing transaction cost stabilization.
The system utilizes oracles and AMMs to forecast and trade "average future gas prices," allowing users to lock in costs in advance and helping operators manage their budgets.
Many web3 players are key targets, including oracle nodes, DeFi traders, DApp developers, roll-up operators, and large users.
Although currently in the testing phase, the possibility of DAO and token issuance has been suggested in the future, and it is expected to grow as a web3 infrastructure.
🧵Pickup:Bitcoin Staking Protocol Babylon Deploys Genesis MainNet in Second Phase of Phased Launch.
🌱 News Overview
On April 10, 2025, the bitcoin staking protocol Babylon officially released Babylon Genesis, a layer 1 blockchain based on the Cosmos SDK, as the second step in a phased launch.
This allows bitcoin holders to staking BTC while remaining self-managed, a new mechanism for earning rewards while contributing to the enhanced security of the PoS chain.
📗 Assumptions
What is Babylon?
Babylon is a protocol that allows bitcoin holders to staking BTC in a self-directed manner to enhance the security of other PoS chains.This will expand the use of BTC and improve the security of the PoS chain.
Overview of the phased launch
The Babylon launch is divided into three phases.Phase 1: Establish a test environment for bitcoin staking.
Phase 2: Launch of the Babylon Genesis chain.
Phase 3: Allow other networks to access bitcoin staking security and liquidity through Babylon Genesisaccess to the security and liquidity of bitcoin staking through Babylon Genesis.
👀 Noteworthy, detailed explanation
Characteristics of the Babylon Genesis chain
Babylon Genesis leverages the security of bitcoin and is achain and serves as a foundation for other PoS chains to enhance their security.This will allow bitcoin holders to perform staking and earn rewards while remaining self-managed.Introduction of a thrashing mechanism
In the second phase, a thrashingmechanism will be introduced to improve network security and reliability.Airdrop Implementation
With the launch of Babylon Genesis, qualified airdrop recipients will receive a registeredBABY tokens to their existing wallets, allowing them to transfer and stake their tokens from day one.
📈 Future forecast
Moving to Phase 3
In the future, Babylon will be moving to Phase 3 where other networks will be able to access BabylonGenesis to access the security and liquidity of bitcoin staking through Genesis.Expanding the Ecosystem
Wide adoption of Babylon's technology will further the use of bitcoin and contribute to PoSchain, which will also contribute to strengthening the security of the chain.
Disclaimer：I carefully examine and write the information that I research, but since it is personally operated and there are many parts with English sources, there may be some paraphrasing or incorrect information. Please understand. Also, there may be introductions of Dapps, NFTs, and tokens in the articles, but there is absolutely no solicitation purpose. Please purchase and use them at your own risk.
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mitsui
A web3 researcher. Operating the newsletter "web3 Research" delivered in five languages around the world.
Contact
The author is a web3 researcher based in Japan. If you have a project that is interested in expanding to Japan, please contact the following:
Telegram：@mitsui0x
*Please note that this newsletter translates articles that are originally in Japanese. There may be translation mistakes such as mistranslations or paraphrasing, so please understand in advance.