💵 Bitcoin could destabilize the dollar: BlackRock CEO

Hi! In today’s edition:

• 🗣 BTC could destabilize USD: BlackRock CEO

• 💰 Trump family holds 60% of WLFI

• 🤝 Circle chooses JPM and Citi for IPO

• 📉 ETH/BTC ratio at 5-year low

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Bitcoin Could Destabilize US Dollar, Says BlackRock CEO Larry Fink

BlackRock CEO Larry Fink issued a stark warning about the potential decline of the U.S. dollar's status as the world's reserve currency, highlighting the growing threat posed by digital assets like bitcoin.

In his 2025 annual letter to investors, Fink emphasized that America's rising national debt and fiscal deficits are eroding confidence in the dollar. The dollar's share of global reserves has declined to 57.8%, its lowest level since 1994.

“If the U.S. doesn’t get its debt under control, if deficits keep ballooning, America risks losing that position to digital assets like Bitcoin,” he said.

Fink also called decentralized finance an “extraordinary innovation” and commented on the potential for tokenized assets to democratize access to markets.

Trump Family Controls 60% Stake in World Liberty Financial: Report

The Trump family has solidified its control over World Liberty Financial (WLF), a decentralized finance (DeFi) platform, through a newly established holding company.

Reuters reported that DT Marks DeFi LLC, an entity linked to Donald Trump and his family, now holds a 60% equity stake in WLF Holdco LLC, which oversees the development and governance of WLF. This replaces WLF co-founders, Zak Folkman and Chase Herro, as controlling parties.

It also means that the Trump family is entitled to 75% of net revenues from WLFI token sales and 60% of operational profits once the platform becomes fully functional. At this point in time, they are entitled to at least $400 million in fees.

Mantle is building the largest sustainable hub for on-chain finance. Launching three new core innovation pillars: Enhanced Index Fund, Mantle Banking and MantleX. 

Circle Hires JPMorgan and Citi for IPO: Report

USDC issuer Circle has tapped Wall Street banking giants JPMorgan Chase and Citi as underwriters for its long-awaited initial public offering (IPO), according to a report from Fortune.

Sources told Fortune that Circle plans to publicly file its prospectus by late April 2025, with a potential stock market debut before June, although the timeline could extend depending on regulatory processes.

This marks Circle's second attempt to go public after a failed SPAC merger in 2021. The previous effort was derailed by regulatory hurdles and the crypto market downturn in 2022.

The company is targeting a valuation between $4 billion and $5 billion, according to the report, reflecting its estimated worth in private secondary markets last year. It would be one of the largest crypto-related listings since Coinbase in 2021.

ETH/BTC Ratio Hits 5-Year Low

The ETH/BTC ratio has dropped to a five-year low of 0.02193, showcasing just how significant ether’s underperformance to bitcoin has been of late.

The ratio also reflects a 39% drop in ether’s relative value compared to bitcoin in 2025 alone, reversing historical trends where ether typically outperforms bitcoin in the year that follows Bitcoin halving events.

Ether’s struggle this year has been further emphasized with a higher circulating supply of ether as its burn rate tracked lower.

In March, the monthly burn value fell to $7.55 million, according to data from DefiLlama, with daily burns dropping below $100,000 on March 30 — the lowest since EIP-1559's implementation in August 2021.

Ethereum's supply is now projected to grow by 0.74% annually due to the reduced burn rate and lower network activity.

“Network activity is shrinking, daily burn rates are at historic lows, and active addresses continue to decline. Yet, exchange balances are also falling — a possible sign of long-term accumulation,” said Mike Romanenko, co-founder of crypto exchange Kyrrex, on X. 

🎥 Watch LIVE: Bits+Bips Tomorrow 👀

• 😅 Crypto-related losses dropped significantly to $28.8 million in March — down from $1.5 billion in February — primarily due to fewer large-scale hacks, with the biggest incident being a $13 million exploit of Abracadabra.money.

• 🤝 Several members of Donald Trump's family, including his sons Donald Jr. and Eric, are backing a new venture controlled by Hut 8 to create the world’s largest and most efficient Bitcoin mining firm, marking a significant expansion of the Trump family's involvement in crypto.

• 🌪 The hacker who stole $9.6 million from zkLend now claims to have lost most of the stolen funds — 2,930 ETH ($5.5 million) — to a phishing site impersonating Tornado Cash, calling the mistake "devastating" and asking zkLend to pursue the scammers instead.

• 🙏 The founder of SIR.trading, a DeFi protocol recently hacked for $355,000 due to a vulnerability tied to Ethereum’s Dencun upgrade, has pleaded with the attacker to return 70% of the stolen funds to help save the project, offering $100,000 as a reward.

• 💰 Coinbase CEO Brian Armstrong is urging U.S. lawmakers to enable stablecoin holders to earn onchain interest, arguing it would benefit consumers and the economy; current federal legislation prohibits such interest-bearing features.

• 🔐 Venture firm Paradigm warns that DPRK cyberattacks on the crypto industry are becoming increasingly sophisticated and widespread, involving multiple hacking groups and tactics that have netted billions of dollars, with the Lazarus Group leading high-profile heists.

• ⚠️ Top House Democrat Maxine Waters cautions that giving Elon Musk’s “government efficiency” team access to SEC systems could lead to data breaches, conflicts of interest, and investor harm, citing Musk’s past SEC violations.

• 👨‍💻 Privacy Pools, a new semi-permissionless privacy protocol launched by 0xbow.io on Ethereum with support from Vitalik Buterin, enables private transactions while ensuring regulatory compliance by screening for illicit activity using dynamic "Association Sets."

• 👩‍⚖️ Vanuatu, a country in the southwestern Pacific Ocean with a population of around 300,000, has enacted stringent new laws regulating digital assets, granting its financial regulator broad powers to license and oversee crypto firms in an effort to prevent fraud and bolster financial inclusion.

• 🤑 Michael Saylor’s company, Strategy (formerly MicroStrategy), bought $1.92 billion worth of bitcoin during a market dip — bringing its total holdings to over 528,000 BTC ($44 billion) — despite investor concerns over upcoming U.S. tariffs and potential tax implications.

• 🇯🇵 Japanese firm Metaplanet, often dubbed “Asia’s MicroStrategy,” issued $13.3 million in zero-interest bonds to buy more bitcoin, continuing its aggressive accumulation strategy amid a market dip.

1. Cointelegraph: Trump’s focus on cartels highlights new risks for digital assets

2. Bloomberg: SpaceX Launches Polar Spaceflight Funded by Crypto Investor

3. CNBC: Bitcoin faces more volatility in April as traders weigh trade policy, await growth drivers