The crypto market continues to evolve rapidly, and April 2, 2025, brought a whirlwind of major developments. From IPO filings and regulatory shakeups to influential moves in the Bitcoin and Ethereum ETF markets, the day showcased the fast-paced, interconnected nature of crypto and global finance. Let’s dive into the top 10 updates that shaped the crypto world on April 2.
1. Galaxy Digital Secures UK Derivatives Trading Licence
Mike Novogratz’s Galaxy Digital scored a significant win by obtaining a derivatives trading license from the UK’s Financial Conduct Authority (FCA). This move allows Galaxy Digital to expand its operations in London and offer sophisticated trading instruments to institutional clients.
The licence opens doors for advanced derivatives, swaps, and other financial products tailored for large investors. Galaxy Digital now positions itself as a major player in the European crypto scene, showing its ambition to build a global footprint as regulatory clarity improves across borders.
2. Circle Files for IPO Amid Revenue Boom
Circle, the company behind the USDC stablecoin, filed for an Initial Public Offering (IPO) on the New York Stock Exchange. With annual revenue hitting $1.66 billion in 2024, Circle decided to capitalize on its growth trajectory and market dominance.
The IPO filing marks a pivotal moment in the crypto-to-Wall-Street pipeline. Investors view Circle as a financial powerhouse, and the IPO reflects growing demand for stable, transparent digital financial infrastructure. Circle aims to use the funding to enhance USDC’s adoption globally, especially in emerging markets.
3. Bitcoin Price Stalls Ahead of Tariff Announcement
As anticipation builds around U.S. President Donald Trump’s “Liberation Day” tariffs, Bitcoin prices remain trapped in a narrow range. Investors brace for market turbulence, unsure how severe tariffs might affect macroeconomic conditions.
Bitcoin’s resilience in this moment speaks volumes. Despite geopolitical uncertainty, Bitcoin trades steadily near the $85,000 mark. Traders expect sharp moves once the White House clarifies its policy, with both bullish and bearish possibilities on the table.
4. Hailey Welch Relaunches Podcast After Meme Coin Controversy
Social media influencer Hailey Welch announced the return of her podcast “Talk Tuah,” set for April 8. She took a brief hiatus following controversy over her meme coin, $HAWK, which faced criticism after a massive pump-and-dump event.
Hailey uses her comeback to shift focus to accountability, transparency, and public engagement. She plans to feature financial experts and crypto professionals on her show. The incident with $HAWK sheds light on the risks of influencer-backed coins and the need for informed investing.
5. Gemini and SEC Move Toward Settlement Over Earn Program
Gemini Trust and the U.S. Securities and Exchange Commission took steps toward settling their long-standing legal dispute over the now-defunct Gemini Earn program. Both parties agreed to suspend legal deadlines for 60 days while they explore a resolution.
This development hints at a possible de-escalation in one of the SEC’s major battles against crypto firms. Gemini faced accusations of offering unregistered securities through the Earn product. A settlement could create a precedent for similar interest-yielding products in the crypto space.
6. Stock and Crypto Markets Brace for Tariff Shock
U.S. stock futures declined ahead of President Trump’s anticipated tariff announcement, and crypto markets felt the ripple effects. Traders watched both markets closely, fearing heightened inflation or disrupted trade flows.
Bitcoin and Ethereum saw mild selloffs during the day, reflecting cautious investor sentiment. The crypto market, often treated as a hedge, could swing in either direction depending on how the tariffs affect dollar strength and risk appetite.
7. Democrats Call Out Trump’s Crypto Involvement
Senator Elizabeth Warren and fellow Democrats raised red flags over President Trump’s alleged ties to World Liberty Financial, a crypto firm launching a new stablecoin named USD1. Lawmakers warned that the connection may present conflicts of interest if Trump returns to office.
They questioned whether regulatory bodies can maintain objectivity if the President has financial ties to the assets they regulate. The controversy adds to ongoing debates around transparency, regulatory capture, and political involvement in the digital currency space.
8. San Francisco’s Toronado Bar to Get Crypto Makeover
The iconic Toronado beer bar in San Francisco plans a tech-infused revival. Orion Parrott, a crypto startup fund manager, confirmed his intent to acquire the bar and introduce a dedicated cryptocurrency tied to its operations.
Parrott believes the new token can drive community engagement and offer discounts, rewards, and membership perks. This fusion of physical locations with digital currency highlights how blockchain can reshape business models in traditional industries.
9. Bitcoin Shows Strength Despite Market Volatility
Bitcoin displayed remarkable stability during a tense trading day. While global markets reacted nervously to tariff rumors, BTC hovered confidently around the $85,700 mark early Wednesday.
This resilience signals Bitcoin’s maturation as a macro asset. Investors didn’t rush to liquidate, showing growing faith in Bitcoin’s long-term fundamentals. Institutional traders also appear to treat BTC as a geopolitical hedge during uncertain times.
10. Bitcoin and Ethereum ETFs Report Heavy Outflows
On April 2, Bitcoin and Ethereum ETFs witnessed significant capital outflows. Bitcoin ETFs lost 1,705 BTC (approximately $145.58 million), while Ethereum ETFs saw 1,535 ETH (around $2.87 million) flow out.
Analysts believe this signals short-term bearish sentiment among institutional investors. These outflows could reflect profit-taking, rebalancing ahead of the U.S. tariff news, or general market caution. However, ETF flows remain just one of many indicators of crypto sentiment and often reverse swiftly.
Final Thoughts
April 2 delivered a mix of regulatory movement, market anticipation, and influencer drama in the crypto landscape. Circle’s IPO filing, Galaxy’s UK licence, and Gemini’s legal pivot highlight growing institutional interest and legal clarity. Meanwhile, market players kept their eyes on global politics, with Bitcoin proving its resilience yet again.
Whether you’re a trader, investor, builder, or just a curious observer, April’s developments show that the crypto world remains deeply tied to broader financial and political currents. As April progresses, the aftershocks of today’s news will likely ripple across charts, headlines, and portfolios.
