Daily Summary, April 7

# Results of the Day, April 7

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🗽 SEC ADVANCES “SAFE HARBOR” INITIATIVE FOR CRYPTO PROJECTS — THE PROPOSAL HAS BEEN SENT TO THE WHITE HOUSE FOR FINAL REVIEW.

*Analysis: The “Safe Harbor” is a three-year moratorium on registration and lawsuits for crypto projects that are developing a decentralized network but have not yet reached sufficient maturity. The idea belongs to SEC Commissioner Hester Peirce (“Crypto Mom”). If adopted, startups will be able to issue tokens without fear of being sued by the SEC for violating securities laws. Conditions: the project must publicly disclose key information, and tokens must become genuinely decentralized within three years. Sending to the White House means the Trump administration (generally crypto-friendly) could approve the initiative in the coming weeks. This would be the biggest crypto deregulation in the US since the launch of Bitcoin ETFs. For the market — explosive growth of new projects and ICO 2.0.*

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🇷🇺 THE RUSSIAN GOVERNMENT INTRODUCED A BILL THAT EQUATES CRYPTOCURRENCY TO CURRENCY ASSETS AND INTRODUCES CURRENCY CONTROL RULES FOR IT.

*Analysis: This follows yesterday’s law on inheritance. If the previous step recognized crypto as “property”, the new one equates it to currency (dollars, euros). What this means: all crypto transactions (buying, selling, cross-border transfers) fall under currency regulation. Residents are required to declare foreign crypto accounts, and the Central Bank gets the right to restrict or prohibit operations. On one hand — legalization and the ability to pay taxes. On the other — total control, analogous to foreign currency control. Russia is finally choosing the “crypto as currency” model, not “crypto as commodity” (like the US). This will create a huge shadow sector: many will prefer not to declare to avoid paying and undergoing checks.*

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🪙 THE VOLUME OF STABLECOINS ON THE ETHEREUM NETWORK GREW BY $10.3 BILLION OVER THE PAST MONTH.

*Analysis: A $10.3 billion increase in a month is a massive inflow of liquidity. Main drivers: the launch of USDPT by Western Union (yesterday’s news), preparation for the Polymarket token launch, and a general shift away from USDC following ZachXBT’s criticism toward USDT and DAI. Ethereum remains the dominant network for stablecoins despite high gas fees. Why not Solana? Because institutions (Western Union is an exception) trust Ethereum due to its track record. $10.3 billion in new stablecoins represents $10.3 billion in purchasing power that could flow into Bitcoin and altcoins at any moment. The market is being primed with liquidity ahead of a possible rally.*

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📊 TOP 10 CRYPTO PROJECTS BY NUMBER OF TOKEN HOLDERS: BNB CHAIN LEADS WITH 322.2 MILLION ADDRESSES, FOLLOWED BY ETHEREUM WITH 305.4 MILLION.

*Analysis: BNB Chain overtakes Ethereum in unique addresses, but it’s important to understand: one person can have dozens of addresses, and BNB Chain has many spam addresses due to low fees. Still, this statistic shows that the BNB ecosystem (Binance exchange + its blockchain) remains a giant in user base. Third place likely goes to Solana (~150 million), fourth to Tron (stablecoins). For investors, this signals: projects on BNB Chain have the widest audience but also the highest competition. For developers — choosing the network with the greatest reach, but with centralization risks (BNB Chain is controlled by Binance).*

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🇮🇷 DONALD TRUMP STATED THAT THE COMING NIGHT COULD BE A TURNING POINT FOR IRAN — ACCORDING TO HIM, THE CURRENT REGIME HAS EFFECTIVELY FALLEN, AND “LESS RADICAL” FORCES COULD TAKE OVER THE COUNTRY.
*Analysis: This is geopolitical news that indirectly affects the crypto market. Iran is one of the few countries where Bitcoin mining is permitted at the state level (albeit with interruptions due to grid strain). The fall of the regime and the arrival of less radical forces could lead to the legalization of crypto payments in Iran, which is currently under harsh US sanctions. If Iran opens up, it would add another major market for stablecoins and Bitcoin as a sanctions-bypass tool. However, in the short term, instability in the Middle East pushes Bitcoin’s price down (flight to cash). Trump is making a loud statement, but there is no real confirmation of the regime’s fall yet — this could be PR ahead of his next political moves.*

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🚓 IN MOSCOW, THE FORMER DEPUTY HEAD OF THE BUTYRKA PRETRIAL DETENTION CENTER WAS SENTENCED TO NEARLY 3 YEARS OF COMPULSORY LABOR FOR ORGANIZING MINING DIRECTLY IN THE PSYCHIATRIC HOSPITAL ATTACHED TO THE DETENTION CENTER.

*Analysis: This is a vivid example of “gray” mining in Russia. The official used budget electricity and psychiatric hospital premises to mine cryptocurrency. The sentence — nearly 3 years of compulsory labor — is relatively lenient (could have been up to 7 years in prison). This is a signal: the state is beginning to punish illegal mining, but not too harshly yet. Importantly, the punishment is not for mining itself, but for theft of electricity and abuse of office. For legal miners — a relief: the authorities are fighting thieves, not the business. For illegal miners — a warning: they’ll come for you soon.*

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🇮🇳 INDIA TIGHTENS CONTROL OVER CRYPTO TRADERS — THE TAX AUTHORITY IS SENDING NOTICES FOR UNDECLARED INCOME FROM PAST YEARS.

*Analysis: India is one of the most difficult jurisdictions for crypto: 30% tax on income, 1% TDS on every transaction, no loss offset. Now the tax authority is conducting retrospective checks. Notices are going to traders who actively traded in 2022-2025 but did not file declarations. This is causing panic in the Indian crypto community: many could face huge fines (up to 200% of unpaid tax). Some traders will move to decentralized exchanges (DEXs), where tracking income is harder. For the market, India is ceasing to be a promising direction for retail exchanges. For the state — an attempt to extract billions of dollars from the shadow economy.*

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🪙 STRATEGY CONTINUES BUYING BITCOIN, BUT THE COMPANY HAS ACCUMULATED A PAPER LOSS OF OVER $14.5 BILLION FOR THE QUARTER — DESPITE CONSTANT PURCHASES, BTC TRADES BELOW THEIR AVERAGE ENTRY PRICE, LEAVING THE METRICS WEAK.

*Analysis: Yesterday we reported that Strategy bought another 4,871 BTC. Today — details of the losses. A $14.5 billion paper loss in a quarter is enormous, even for a company with a market cap of about $30 billion. Their average entry price is around $67,000-68,000, and Bitcoin is currently trading below that. This does not mean Strategy is going bankrupt — they are not selling, just holding. But the financials put the “infinite debt-fueled buying” model into question. If Bitcoin falls to $50,000, the loss would exceed $20 billion, and creditors might demand additional collateral. So far, Strategy is sustained by shareholder belief in long-term growth. But if that belief collapses — the stock will fall, and they may have to sell BTC to cover margin.*

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⛽️ BITCOIN NETWORK FEES ARE NOW AT ALL-TIME LOWS — SUCH VALUES HAVE NOT BEEN SEEN FOR ALMOST 15 YEARS.
*Analysis: The median transaction fee has dropped to 2-3 satoshis per byte — literally $0.05-0.10. Such low fees were last seen in 2011-2012, when Bitcoin was worth less than $10. Reasons: drop in on-chain activity (people are holding BTC, not moving it), Lightning transactions moving to closed channels, and reduced spam (dusting attacks have become more expensive due to the price drop?). For users — an excellent time to move Bitcoin from exchanges to cold wallets. For miners — a disaster: fees now make up only 1-2% of their income (down from 10-20%). If Bitcoin’s price does not rise, small miners will start shutting down, and difficulty will drop.*

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🪙 TETHER IS DEVELOPING A DECENTRALIZED SEARCH ENGINE CALLED HYPERSEARCH.

*Analysis: Tether (the issuer of USDT) is expanding beyond stablecoins. Hypersearch is a blockchain- and P2P-based search engine without a central server, offering censorship resistance. The idea: compete with Google, which collects user data and is subject to government pressure. If Hypersearch works, it would be the first major decentralized search engine (attempts like Presearch haven’t taken off). Tether has resources ($5-7 billion annual profit) and a user base (hundreds of millions of wallets). But the challenge is enormous: search requires massive computational power and ranking algorithms. Most likely, Hypersearch will be a niche product for the crypto community, not a Google killer. But the attempt itself is important: Tether sees the future in decentralized services, not just dollar issuance.*

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🇰🇿 KAZAKHSTAN AUTHORITIES UNCOVERED THE NBC TV CRYPTO PYRAMID PROMISING UP TO 10% PER DAY AND SEIZED OVER $1 MILLION IN USDT THAT THE ORGANIZERS HAD MANAGED TO WITHDRAW VIA P2P PLATFORMS.

*Analysis: NBC TV is a classic financial pyramid disguised as an “investment platform” with daily returns of 10% (3650% annually — impossible). The organizers managed to withdraw $1 million in USDT via P2P (likely through BestChange or local exchangers). Kazakh authorities seized these funds — meaning they were able to work with P2P platforms or exchanges that froze the USDT upon request. This is an important precedent: even “anonymous” P2P transactions can be traced if the stablecoin is issued centrally (Circle or Tether can freeze USDC/USDT at a regulator’s request). For investors, the lesson: 10% per day is always a pyramid. For regulators, a method: pressure stablecoin issuers to freeze fraudsters’ funds.*

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🪙 CIRCLE PRINTED $1,000,000,000 USDC TODAY.

*Analysis: A full $1 billion in new USDC in a single day — a massive issuance. Is Circle responding to increased demand after yesterday’s criticism? Or trying to show that everything is fine? $1 billion is about 2% of total USDC supply ($50+ billion). Such volumes are usually printed when large institutions enter crypto via Coinbase (the primary channel for USDC). This may be related to the Charles Schwab announcement (spot trading) or Western Union (USDPT doesn’t affect USDC). Or Circle is simply replenishing reserves amid panic following ZachXBT’s criticism to prevent a shortage. For the market, this is a bearish signal: large stablecoin issuance often precedes purchases, but if issuance is not accompanied by price increases, the money is just sitting in accounts, not flowing into assets.*

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🇺🇸 ACCORDING TO THE FBI, AMERICANS LOST $11.36 BILLION TO CRYPTO FRAUD IN 2025 — 22% MORE THAN THE PREVIOUS YEAR.
*Analysis: A 22% year-over-year increase in losses — despite all the efforts of the SEC, DOJ, and educational campaigns. Main schemes: fake investment platforms (pyramids), romance scams, phishing, and fake wallet apps. $11.36 billion is more than the GDP of some countries. The FBI admits that the resolution rate for such crimes is below 10%, because crypto allows rapid laundering via mixers and bridges. For regulators, this signals a need to tighten KYC on exchanges and require blockchains to have built-in freeze mechanisms (which contradicts the spirit of decentralization). For users, a reminder: “not your keys, not your coins” — but even with your own keys, you can fall for phishing. The best defense is a cold wallet and absolute distrust of strangers online.*

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## SYSTEMIC TRENDS OF THE DAY

– The US and Russia are moving toward crypto legalization, but by different paths. The US, via the SEC’s Safe Harbor, encourages decentralization and innovation. Russia, through currency controls, tightens the screws, turning crypto into a controlled analog of the dollar. The result: capital will flow where regulatory barriers are lower — meaning the US.

– Stablecoins are accumulating, but not being spent. $10.3 billion in new USDC/USDT on Ethereum + $1 billion from Circle today. Yet Bitcoin is not rising. This means institutions and large holders are waiting for a signal (e.g., approval of Safe Harbor or the launch of Schwab’s spot trading), and in the meantime are holding cash in stablecoins. Once the signal comes — a sharp move into assets is possible.

– Miners and Bitcoin infrastructure are under pressure. Fees have dropped to historic lows, Strategy is paper-unprofitable, MARA is cutting staff (from yesterday’s news). Bitcoin is undergoing a “cleanse”: weak miners shut down, strong ones consolidate capacity. If the price does not rise in the next 2-3 months, we will see several more bankruptcies among public mining companies.

– Geopolitics directly affects crypto. Iran (possible regime change), Kazakhstan (fighting pyramids), India (tax audits), Russia (currency controls). Crypto no longer exists in a vacuum. Every political decision changes capital flows.

– Users continue to suffer from fraudsters. $11.36 billion in losses in the US — an epidemic. The FBI is overwhelmed. This means the market needs decentralized reputation systems and counterparty verification (e.g., based on ERC-8004). This direction will become one of the main themes in 2026-2027.

## ARCHITECTURAL CONCLUSION

April 7, 2026 showed two opposing trends. On one hand — institutional maturation: the SEC is ready to grant Safe Harbor, Circle is printing billions, stablecoins are accumulating, Tether is building a search engine. On the other hand — systemic problems: Strategy is drowning in paper losses, Bitcoin fees have dropped to zero, fraudsters have extracted $11 billion from Americans, and Russia and India are strangling crypto with controls.

The market is frozen in anticipation. Key dates:
— White House decision on the SEC Safe Harbor (coming weeks).
— Launch of Charles Schwab’s spot trading (first half of 2026).
— Strategy’s quarterly report (if auditors require write-downs, a sell-off could begin).

Until then, liquidity will accumulate in stablecoins, and assets will drift sideways. Once regulatory clarity in the US emerges — expect a sharp $10-20% move up or down. For now, bets are on the upside.

*”The SEC gives the green light, Circle prints money, and Strategy holds bags of losses. But Bitcoin isn’t rising — because everyone is waiting. Meanwhile, fraudsters have collected $11 billion from trusting Americans. 2026 is not the year of bulls or bears. It’s the year of waiting and cleansing. Those who survive will get everything. The rest will lose.”*