Global TradFi & Macroeconomics

Central bankers warn that stablecoins may accelerate dollarization in emerging markets and pose financial crime risks due to weak regulatory oversight. They urge for international coordination on stablecoin standards to balance innovation with financial stability.

As the 2D NAND supply shortage worsens, United Microelectronics (UMC) is expected to take over SLC and MLC Flash foundry orders, and the stock price surged 27%. However, industry insiders point out that UMC faces three major challenges: talent, technology, and equipment shortages, making it difficult to achieve its outsourcing manufacturing goals in the short term, which reflects market enthusiasm rather than an improvement in fundamentals. The company will also raise its wafer-fab foundry quotes to respond to rising costs. Investors need to carefully assess market risks.

Aomori Prefecture in Japan issued a tsunami warning following an earthquake, impacting Tohoku Shinkansen train services. Tsunami warnings and advisories were also given for other coastal areas, while checks were initiated at Onagawa Nuclear Power Station.

OCBC and Lion Global Investors are launching a physical gold fund token, GOLDX Token, on Ethereum and Solana blockchains, with OCBC handling design and Lion Global managing investment and governance.

Strategy proposes a shift from monthly to semi-monthly STRC dividends to enhance liquidity and reduce volatility, maintaining an 11.5% yield. Shareholder approval is required for this change, amid criticisms regarding Bitcoin exposure and potential risks.

Investment firm Galaxy analyst Alex Thorn noted that Bitcoin’s advance during this halving cycle has been lower than historical records, with volatility declining, and the market may be entering a new normal. Compared with the past three halvings, the fourth time’s price change is no longer significant. While the passage of U.S. spot ETFs has catalyzed the rally, the market’s ongoing conditions still need to be watched closely.

Iran's Foreign Ministry spokesperson Baghaei affirmed that the country won't accept ultimatums in defending its sovereignty, insisting that military actions are for self-defense and warning of a strong response to any new aggression from the U.S. or Israel.

Gate News message, April 20 — Qunhe Technology, a company listed on the Hong Kong stock exchange, surged 106.99% in today's trading session.

Samsung SDI has signed a multiyear deal to supply high-nickel EV batteries to Mercedes-Benz, valued at around $6.7 billion. The partnership focuses on future mobility solutions and battery technology, with production based in Hungary.

Singapore is increasing liquefied natural gas purchases from alternative sources due to Middle East conflict disrupting shipments. The Energy Market Authority is ensuring sufficient fuel supply as electricity tariffs rise, while pursuing diverse energy alternatives.

iQiyi is revamping its platform to focus on AI-generated content, launching the Nadou Pro tool to support production. Despite financial struggles and regulatory challenges, the company aims to release a successful AI film by 2026 while managing a significant liquidity crisis.

The cloud development platform Vercel was breached by hackers on April 19. The attackers gained access through a third-party AI tool used by employees and threatened to extort $2 million. Although sensitive data was not accessed, other data may have been used. The incident has raised security concerns in the crypto community, and Vercel is currently investigating while advising users to rotate their keys.

Vietnam plans to extend reduced special consumption tax rates for electric vehicles until the end of 2030, following significant sales growth. The proposal will be submitted for parliamentary approval, along with a continued registration fee exemption.

Citrini Research analyst Jukan put forward the view that outsourcing HBM4 mask manufacturing creates a new market, and gained industry confirmation in a short period of time. Revenue from mask outsourcing at Samsung and SK hynix doubled, signaling a major shift in the internal versus external manufacturing mix. DNP and TOPPAN could become the main beneficiaries. Next, relevant earnings reports and data should be monitored to determine whether the trend will persist; investors should carefully consider when to enter and exit the related stocks.

Musk’s social platform X rolled out a brand-new “Smart Cashtags” feature on the evening of April 15 (last Tuesday). On April 17, Nikita Bier, X’s product lead, announced that in just 3 days the feature drove about $1 billion in trading volume across global markets, based on aggregated data from X’s trading pilot program.

China is poised to import a record 800,000 tons of US ethane in April due to supply disruptions from the Middle East. The shift to ethane stems from the closure of the Strait of Hormuz, affecting naphtha and LPG imports. This surge aligns with new production capacities and upcoming US-China talks.

LayerZero issued a statement regarding the $292 million hack suffered by Kelp DAO, accusing Kelp’s self-selected 1-of-1 DVN configuration of making the incident possible. The attacker was the North Korean Lazarus Group. LayerZero emphasized that this incident stems from configuration choices and that it will no longer support this kind of vulnerable setup. In addition, responsibility is still disputed, and no compensation plan has been provided.

Germany's producer price index rose 2.5% month-on-month in March, surpassing expectations of 1.3% and reversing February's 0.5% decline, signaling a rise in producer-level inflation.

Japan's 40-year government bond yield dropped to 3.775%, down 7 basis points, while the 20-year bond yield decreased to 3.230%, falling by 3.5 basis points.

Charles Schwab is considering introducing prediction markets for financial events amid growing Wall Street interest, while maintaining a focus on wealth management. Regulatory scrutiny is increasing, especially regarding sports and entertainment wagers, highlighted by recent legislation and concerns over insider trading and market manipulation.