Spencer Ventures Daily Newsletter Friday, April 4th

📰 News & Current Events 📰

• Crypto Goes Green While Stocks Continue To Fall

  Bitcoin reclaims $84K as the S&P 500 gives back all gains since April 2024

• U.S. Stock Market Sees Worst Day Since March 2020

  S&P drops -9.1% on the week as Nasdaq 100 officially hits bear market territory

• China Responds To U.S. With 34% Tariffs & Rejects TikTok Deal

  China rejects the sale of TikTok to the U.S. & retaliates with tariffs of their own

• U.S. Unemployment Numbers Come in Higher Than Expected

  Unemployment in America increases to 4.2% as U.S. jobs data gets revealed

• IPO Season Gets Delayed As Multiple Companies Step Back

  IPOs are seemingly put on hold as Circle, Chime, Klarna, & Stubhub face delays

• Grayscale Files For Spot Solana ETF

  Grayscale joins Fidelity & more as major ETF providers begin to file for Solana

• Bitcoin Prints All-Time High Price Relative To Mag 7 Stocks

  Bitcoin reaches peak-outperformance against top stocks as ratio hits ATH

• Tether Plans To Launch Additional Stablecoin For U.S. Markets

  Tether will look to create another stablecoin if USDT isn’t accepted in the U.S.

• Negotiations Begins To Take Place Around Global Tariffs

  Places like Vietnam, the U.K., & Cambodia have all started to seek trade deals

• Trump Calls on Fed Chair To Cut Interest Rates

  Trump says it’s the perfect time to cut rates & blames Powell for playing politics

• Retail Investors Buy The Blood With Most Stock Purchases in Ten Years

  $4.7B of stocks were bought yesterday, marking highest inflow in a decade

• Federal Reserve Says Tariffs Will Lead To Rising Inflation

  Jerome Powell says tariffs are worse then expected & will lead to more inflation

• SEC Declares Dollar-Backed Stablecoins Aren’t Securities

  SEC clarifies minting or redeeming stablecoins doesn’t fall under Securities Act

• JPMorgan Predict U.S. To Enter Recession in 2025

  U.S. markets continue to produce fear as institutions prepare for a recession

• Germany Considers Withdrawing $124B Gold From U.S. Reserves

  Germany may look to take 1,200 tons of gold stored at New York Fed out of U.S.

• Treasury Secretary Says Bitcoin Is Becoming A Store of Value

  Scott Bessent takes notice of Bitcoin’s strength amid current market plunge

• Ethereum Transaction Fees Hit Historic Lows With Stable Activity

  Gas fees on ETH are slowly improving as chain sees steady use with lower costs

• Memecoins Outperform While Rest of Market Goes The Other Way

  Memes find strength today led by big jumps in Fartcoin, SPX, PUPS, GME, & AIC

• Rumors Spread of Major Crypto Game Running Out of Money

  The team behind Shrapnel has reportedly began layoffs as game launch stalls

• Pump Fun Relaunches Livestreams With More Restrictions

  Memecoin livestreams are back after being remove for inappropriate content

• Jack Dorsey Says Square Is Looking To Integrate Bitcoin Payments

  Crypto payments find more adoption as Square works on Bitcoin integration

‼️ Airdrops, Events, & More ‼️

• Vibes Pack Bonanza Returns With Free Online Packs

  Users can now earn one free pack for every win in Vibes Online

• Mintify Launches Season 1 With 40M $MINT in Rewards

  Mintify users can trade eligible NFTs & tokens to earn XP for future $MINT

• Pudgy Penguin Holds Required To Re-Verify Assets in Abstract Discord

  Pudgy holders have until the end of the week to reverify and maintain roles

• YEET Casino Teases Plinko Game Coming Next Week

  New crypto casino prepares for launch with own version of Plinko game

• Sophon Adds More Communities To Discord Friends List

  MadLads, GVC, Milady, & Courtyard collectors can all claim roles in discord

• Lens Protocol Launches Mainnet After Leaving Polygon

  Lens Chain is now live on mainnet as protocol joins zkSync’s L2 network

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