4.2 AI Daily The AI Computing Power Crisis May Delay the Release of GPT-5, Frequent Encryption Policies Trigger Industry Follow-up

1. Headlines

1. OpenAI founder Sam Altman warns: GPU computing power crisis may delay the release of GPT-5

OpenAI founder Sam Altman posted on social media that due to the overwhelming popularity of GPT-4's image generation capabilities, OpenAI's GPU computing power is under severe strain, facing a computing crisis. He warned that this could delay the launch of new versions like GPT-5, which were originally scheduled to be released in the coming months.

Altman explained that the image generation capabilities built into GPT-4, especially the generation of images in a style similar to Studio Ghibli, have amazed users and led to a surge in demand. However, OpenAI's existing GPU computing power has become overwhelmed, resulting in frequent service delays. To alleviate the pressure, OpenAI has had to temporarily restrict the use of the image generation feature.

Analysts point out that this reflects the rapidly growing demand for computing power from large AI models, which has already exceeded the limits of the existing supply of computing power. In the future, AI companies will need to significantly expand their computing resources; otherwise, it will be difficult to launch more advanced models. At the same time, the rising cost of computing power may also drive up the prices of AI services, affecting their level of adoption.

2. Founder CZ urges AI agent developers to create excellent products before considering the issuance of tokens.

The founder ( CZ ) stated in a social media post that too many AI agent developers focus excessively on token issuance, neglecting the practicality of the agents themselves. He suggested that developers should first create a truly outstanding AI agent product, and only consider issuing tokens when the product aligns with the market.

CZ's remarks have sparked widespread discussion within the crypto community. Supporters believe that excessive adoration of tokens can lead projects to become speculative, deviating from the original intent of blockchain technology. Critics, on the other hand, argue that token issuance is a necessary means to attract early users and funding, and developers should not be constrained.

Analysis points out that CZ's views reflect a cautious attitude towards the AI + blockchain sector. He hopes to see truly valuable products emerge, rather than mere speculation and token games. At the same time, this also reflects his dominant position in the AI sector, and his statements will have a certain impact on the industry.

3. The Chairman of the U.S. House Financial Services Committee rejected the interest-bearing stablecoin proposal.

The chairman of the U.S. House Financial Services Committee, French Hill ( French Hill ), rejected the proposal to allow interest payments on stablecoins, despite Coinbase CEO Brian Armstrong ( Brian Armstrong ) recently publicly calling for support for the policy.

Hill stated that allowing stablecoins to pay interest would make them more like bank deposits rather than just a payment tool. This could bring regulatory risks and disrupt the stability of the financial system. He emphasized that stablecoin issuers should be treated like banks and be subject to appropriate regulation.

Analysts point out that this decision reflects the regulators' cautious attitude towards stablecoins. They are concerned that the rapid development of stablecoins may pose systemic risks, and therefore hope to implement strict regulations on them. At the same time, this also highlights the tension between cryptocurrencies and the traditional financial system, with both sides having differences on regulatory issues.

4. Circle listed the run on USDT as a risk factor in the S-1 filing.

The stablecoin issuer Circle listed the risk of a run on USDT as a business risk in its initial public offering ( IPO ) application document S-1.

Circle stated in the document: "Negative developments related to USDT, or the actual or perceived instability of USDT, may lead to a loss of confidence in other stablecoins (, including the stablecoin issued by Circle ). Temporary price dislocations in the secondary market or a full-blown run on USDT may lead to sustained redemption demand, runs, or similar price dislocations for Circle's stablecoin in the secondary market."

Analysis indicates that this reflects Circle's certain concerns about the uncertainty regarding USDT. As the largest stablecoin issuer, Tether's situation will directly affect the confidence in the entire stablecoin market. Circle needs to consider countermeasures in advance. At the same time, this also highlights the competitive relationship among stablecoin issuers, as each hopes their own product gains higher market trust.

5. Director of the People's Bank of China Credit Management Bureau: Will deepen the application of big data, AI, etc. in the credit field.

On April 2, Ren Yongmei, director of the Credit Management Bureau of the People's Bank of China, stated at a press conference held by the State Council Information Office that in recent years, the People's Bank has continuously optimized the layout of the credit market, vigorously developed a multi-level credit market, and broadly covered the credit needs of the entire society. In the future, it will further deepen the application of emerging technologies such as big data, artificial intelligence, and blockchain in the field of credit.

Ren Yongmei explained that with the development of the digital economy, the demand for credit reporting is becoming increasingly diversified, and traditional credit reporting models are struggling to meet these needs. By leveraging new technologies such as big data and AI, it is possible to more accurately assess the credit status of individuals and enterprises, providing better decision support for financial institutions and other relevant parties.

Analysts believe that this initiative is conducive to improving the modernization level of our social credit system and creating a better credit environment for economic and social development. At the same time, it will also promote the innovative application of relevant emerging technologies in the credit investigation field, bringing new development opportunities for technology companies. However, attention must also be paid to issues such as data privacy and security during the application process.

2. Industry Data

1. BTC

Recent transaction price 83475.1000 USDT, daily increase +1.90%.

2. ETH

Recent transaction price 1854.6600 USDT, intraday increase +3.10%.

3. ACT

Recent transaction price 0.1891 USDT, daily increase +0.20%.

4. PI

Recent transaction price 0.7108 USDT, daily increase +1.50%.

5. GT

Recent transaction price 22.5730 USDT, intraday increase +1.40%.

3. Industry News

1. Bitcoin briefly broke above $85,000 before retreating, market sentiment is low.

The price of Bitcoin briefly broke through $85,000 on April 2, before falling back to $84,943, with a 24-hour increase of 0.89%. Despite the brief price rebound, overall market sentiment remains bleak.

Analysts point out that Bitcoin has recently seen increased volatility, with active short-term trading, but lacks sustained upward momentum. Investors are concerned about the upcoming Trump tariff policy, and it is expected that the implementation of the policy could trigger significant market fluctuations. Additionally, the continuous outflow of institutional funds has also undermined market confidence.

The trading data shows that the funding rates on mainstream exchanges are negative, reflecting a bearish market sentiment. Analysts believe that whether Bitcoin can achieve an effective breakout above $85,000 will determine the future market trend. If it fails to hold this position, it may further test the key support level at $80,000.

Overall, Bitcoin still faces significant uncertainty in the short term. Investors need to closely monitor policy risks while cautiously seizing trading opportunities and strictly controlling risk exposure.

2. Ethereum rebounds in the short term, but faces challenges in the long-term outlook.

Ethereum's price rebounded briefly on April 2, rising 3.63% in 24 hours and briefly crossing the $1900 mark. However, analysts warn that Ethereum's long-term outlook faces multiple challenges.

First, the Ethereum mainnet faces diversion pressure from L2 and Alt DA, which may lead to a sharp decrease in Gas fees and ETH burn, weakening the mainnet's profitability. Secondly, the Blob introduced by EIP-4844 reduces the cost of data availability, which may also impact the mainnet's revenue.

In addition, Ethereum's bullish trend is being blocked by the "little black room." The defensive strength below the key support level of $1900 is weak, and if this position fails to hold, it may further drop to $1550.

However, analysts also pointed out that Ethereum's Wyckoff accumulation phase suggests a turning point. If it can effectively break through the resistance zone of $4650-6000, it will be ready for the next cycle target of $7000-10000.

Overall, there is still uncertainty regarding Ethereum in the short term. Investors need to closely monitor changes in technical and fundamental aspects and cautiously grasp trading opportunities.

3. The AI sector tokens continue to decline, with a total market value dropping below $21.5 billion.

On April 2nd, AI sector tokens continued to decline, with a total market value dropping to $21.48 billion, a 24-hour decrease of 1.4%. Among them, KAITO, ai16z, and VANA fell by 13.3%, 3.6%, and 8.3%, respectively.

Analysts say that the tokens in the AI sector have shown weak performance recently, mainly affected by market concerns over an AI bubble. Despite the ongoing hype around AI concepts, investors still have doubts about the business models and real use cases of AI projects.

In addition, the uncertainty of regulatory policies has put pressure on AI sector tokens. Some countries and regions have adopted stricter regulatory attitudes towards AI technology, which may limit the development space for related projects.

However, some analysts are optimistic about the long-term prospects of AI sector tokens. They believe that as AI technology continues to mature and application scenarios expand, quality AI projects will receive more attention and funding support.

Overall, tokens in the AI sector still face considerable uncertainty in the short term. Investors need to remain cautious and closely monitor regulatory policies and technological advancements, while prudently seizing trading opportunities.

4. CZ:AI developers should first create excellent products before considering issuing tokens.

Founder CZ stated in a social media post that too many AI agent developers focus too much on tokens while neglecting the practicality of the agents themselves. He suggested that developers should first create a truly excellent agent product, and only consider issuing tokens when the product aligns with the market.

CZ's观点 has been widely recognized by industry insiders. They pointed out that over-hyping tokens while neglecting the products themselves is a major ailment in the current cryptocurrency industry. Many projects lack continuous product iteration and user operations after issuing tokens, ultimately leading to a significant devaluation of the tokens.

Analysts say that CZ's suggestion hits the nail on the head, reflecting a consistent "product is king" philosophy. Excellent products are the foundation for the continuous appreciation of tokens, and token issuance should serve product development rather than become the sole goal of the project.

Overall, CZ's perspective points to the correct development direction for AI agent projects. Developers should focus on the product itself, and only consider other commercialization paths, such as token issuance, after the product has received market recognition.

4. Project News

1. Initial airdrop of 50 million tokens to reward early supporters.

Initia is a decentralized protocol aimed at the Web3 ecosystem. The protocol announced a large-scale airdrop activity before the mainnet launch, distributing 50 million INIT tokens to users. This initiative aims to reward early supporters and reward those who participated in testing activities and ecosystem partners.

The Initia Protocol was born in 2023, aiming to provide infrastructure support for the Web3 ecosystem. The protocol adopts a decentralized architecture and achieves automated execution through smart contracts. Key features include support for cross-chain interoperability, programmable finance, and other innovative functions. INIT is the native token of the protocol, used for paying transaction fees, participating in governance, and more.

This airdrop event is an important milestone in the development of Initia. The large-scale token distribution not only rewards early supporters but also lays the foundation for the long-term development of the protocol. According to official news, the airdrop targets primarily include users who participated in testing activities, ecological partners, and others. This move is expected to further expand Initia's user base and promote the prosperous development of the protocol's ecosystem.

Industry insiders responded enthusiastically to the airdrop event. Analysts believe that Initia has won community support through a token airdrop, injecting momentum into the long-term development of the protocol. At the same time, this initiative also reflects Initia's emphasis on and support for the development of the Web3 ecosystem. In the future, Initia is expected to become an important force in Web3 infrastructure and contribute new momentum to the development of the industry.

2. Sui ecosystem projects continue to emerge, and the Move system leads innovation.

The Move system is an emerging blockchain programming language and execution environment developed by Meta. The Sui network, based on Move, has recently been attracting attention, with a continuous influx of ecological projects showcasing the immense potential of the Move system in innovation.

The Sui network was launched in 2022 and is the first public chain project based on the Move system. This network adopts a brand-new blockchain architecture, with groundbreaking innovations in scalability and security. The Sui ecosystem has currently seen the emergence of several popular projects, including Cetus, Navi, Scallop, and others. These projects are dedicated to building DeFi, NFT, gaming, and other applications on the Sui network.

The Move system was originally developed by Meta to provide a secure and reliable blockchain programming environment. Compared to languages like Solidity on Ethereum, Move offers stronger security and composability. Developers can easily build complex smart contract applications without worrying about common vulnerability issues.

The rapid development of the Sui ecosystem has garnered widespread attention in the industry. Analysts believe that the Move system brings new possibilities for blockchain innovation. Projects like Sui demonstrate the advantages of Move in terms of scalability and security. In the future, the Move system is expected to become an important force for blockchain innovation, driving the industry forward.

3. Web3 social remains an unsolved mystery, with innovators constantly trying.

Web3 social is seen as an important application scenario of blockchain technology, but there has yet to be a true killer application. At the TOKEN2049 conference, several innovators engaged in in-depth discussions about the development prospects of Web3 social.

Web3 social aims to leverage blockchain technology to build decentralized social platforms, allowing users to own their data and capture value through innovative incentive mechanisms. However, the development path in this field is not smooth. Projects like Lens Protocol and Farcaster have made some progress, but large-scale adoption has not yet been achieved.

At the TOKEN2049 conference, founder Yawn shared his insights on the development of Web3 social interactions. He believes that designing an engaging social experience through the "Connect to Earn" model, while avoiding the collapse of the economic model, is an ongoing topic that requires continuous exploration.

Another Korean entrepreneur from the Warpcast ecosystem, Taki, has his own views on this. He believes that Web3 social needs to incorporate innovative features like prediction markets in order to attract more user participation. Currently, there are several projects within the Warpcast ecosystem attempting to introduce prediction markets into social applications.

Industry insiders point out that while Web3 social remains an unsolved mystery, innovative attempts have never ceased. As long as innovation continues, there will surely be a truly killer application in the future, driving Web3 social to achieve large-scale adoption.

4. AI+Web3 has become a new hotspot, entrepreneurs are seeking breakthroughs.

At the TOKEN2049 conference, the combination of AI and Web3 has become a hot topic. More and more entrepreneurs are starting to pay attention to this emerging field, hoping to achieve breakthroughs through innovation.

The combination of AI technology and blockchain is seen as the next opportunity. AI-based applications such as intelligent agents and trading assistants are expected to bring a new experience to Web3. However, the development in this field is still in its early stages, and most projects are "Meme" concepts.

An investor stated at the conference that while the prospects of AI + Web3 are worth looking forward to, 98% of the projects have already been debunked. He believes that in the future, there will surely be an AI project that can compete with Ethereum, but most existing projects lack true innovation.

The entrepreneurs attending the meeting also have different views on the development prospects of AI + Web3. Some believe that AI technology can bring a whole new user experience to Web3, such as smart agents, automated trading, etc. However, others are concerned that the introduction of AI may bring new security risks and regulatory challenges.

Overall, AI+Web3 is seen as an imaginative new track. Although development is still in its early stages, this field is attracting more and more innovators and capital attention. In the future, the deep integration of AI and Web3 is expected to give birth to more innovative applications, injecting new momentum into industry development.

5. Economic Dynamics

1. Trump's tariff policy causes market turmoil

Economic Background: The US economy has maintained moderate growth over the past year, but inflationary pressures continue to rise. The latest data shows that the annualized GDP growth rate for the first quarter of 2025 is 2.6%, slightly lower than the previous quarter's 2.9%. The core inflation rate in March is 5.1%, above the target level of 2%. The job market remains strong, with the unemployment rate holding steady at a low of 3.5% in March.

Important Event: The Trump administration will announce high tariffs on other countries on April 2 to address what it calls "unfair trade practices." The specific details of the tariff policy have not yet been disclosed, but it is expected to cover a wide range of imported products, including automobiles, steel, electronics, and more. This move is aimed at protecting American industries, but it may also provoke retaliatory tariffs from other countries.

Market Reaction: The uncertainty of tariff policies has intensified market concerns. The US stock market experienced a significant decline on April 1, with the Dow Jones dropping over 600 points. The dollar index slightly rose, reflecting an increased demand for safe-haven assets among investors. Commodity prices generally fell, indicating worries over global trade tensions. Bond yields decreased, showing that investors are seeking safe assets.

Expert Opinion: Former Goldman Sachs macroeconomist Pandl stated that tariff policies could undermine the dollar's dominance, creating space for competitors, including Bitcoin. He believes that although prices may decline in the short term, the Trump administration's approach has strengthened Bitcoin's long-term prospects as a global monetary asset.

Deutsche Bank analyst Jim Reid warned that if tariff policies are implemented, the global economy may face the risk of "stagflation," where costs rise while economic growth is constrained. He pointed out that other countries may respond with retaliatory tariffs, and this prospect has heightened concerns about inflation.

2. The European Central Bank may keep interest rates unchanged.

Economic Background: The Eurozone economy experienced a moderate recovery in 2024, but the growth momentum remains insufficient. The latest data shows that the annualized GDP growth rate for the Eurozone in the first quarter of 2025 is 1.1%, down from 1.5% in the previous quarter. The inflation rate in March is 2.6%, slightly above the European Central Bank's target of 2%. The labor market remains stable, with an unemployment rate of 6.5% in March.

Key Events: The European Central Bank will hold an interest rate decision meeting on April 6. Amid increasing economic uncertainty, the market expects that the European Central Bank may pause its rate hike and maintain the current interest rates.

Market reaction: The euro to US dollar exchange rate fell slightly on April 1, reflecting market expectations that the European Central Bank may pause interest rate hikes. European stock markets showed a lackluster performance as investors awaited policy signals from the European Central Bank.

Expert Opinion: Panasonic macro analyst Claus Vistesen and Melanie Debono believe that in the context of increasing economic uncertainty, the European Central Bank may choose to remain cautious and keep interest rates unchanged at this month's meeting. They point out that although the inflation rate is close to the target, energy prices and other risks still exist in the coming months.

At the same time, Europe is facing turmoil and the pressure of trade tariffs on economic growth, while also having to grapple with the ambiguous effects of domestic stimulus plans on infrastructure and defense.

3. U.S. employment data may trigger market fluctuations

Economic Background: The U.S. labor market has maintained strong performance over the past year, driving economic growth and an increase in household income. The latest data shows that non-farm payrolls increased by 311,000 in February 2025, far exceeding expectations. The unemployment rate remains low at 3.5%.

Important events: The U.S. Department of Labor will release the non-farm payroll data for March on the evening of April 2. This is an important indicator of the labor market conditions and often triggers market volatility.

Market reaction: Before the employment data was released, market participants generally maintained a cautious attitude. The US stock market performed poorly on April 1, with investors waiting for guidance from the employment data. Bond yields fell slightly, reflecting concerns about an economic slowdown.

Expert Opinion: Mark Spindel, Chief Investment Officer of Potomac River Capital, expects that if employment data is weak, the panic index VIX may rise to the 30 level, indicating that the market is entering a high-risk aversion mode.

Goldman Sachs analysts believe that even if employment data is strong, it is unlikely to change the Federal Reserve's policy path. They expect that the Federal Reserve will begin a rate-cutting cycle within the next 12 to 18 months.

Overall, the employment data released on April 2 will provide important signals for the market, possibly causing short-term fluctuations, but the long-term trend will still depend on the performance of inflation and economic growth.

6. Regulation & Policy

1. The U.S. Securities and Exchange Commission will hold four roundtable discussions on the regulation of crypto assets.

The U.S. Securities and Exchange Commission (SEC) announced that it will hold four roundtable discussions on cryptocurrency asset regulation from April 11 to June 6. As the regulatory agency, the SEC is responsible for formulating and enforcing securities regulations to maintain fair and orderly capital markets. With the growing popularity of cryptocurrency assets, the SEC hopes to gather expert opinions through these roundtable discussions to clarify regulatory challenges and explore solutions.

The four sessions will be held on April 11 on "Between Blocks and Regulation: Tailoring Rules for Crypto Trading", on April 25 on "Know Your Custodian: Key Considerations for Crypto Asset Custody", on May 12 on "On-Chain Assets: Where Traditional Finance Meets DeFi", and on June 6 on "DeFi and the American Spirit". Commissioner Hester M. Peirce, head of the SEC's task force, said, "These roundtables allow us to hear from experts, identify regulatory challenges, and discuss the SEC's response." All roundtables will be broadcast live to the public.

This move reflects that the SEC is actively addressing the regulatory issues surrounding crypto assets. Industry insiders generally believe that the SEC needs to keep pace with the times and establish a clear regulatory framework that protects investors' rights without stifling innovation. The roundtable is expected to provide the SEC with valuable firsthand information, helping to formulate more scientifically sound and reasonable regulatory policies.

2. Six industry associations in the UK call on the government to classify cryptocurrency as a "strategic priority".

Six digital economy industry associations in the UK recently jointly sent a letter to the Prime Minister's office, urging the government to appoint a cryptocurrency envoy and develop a special development plan for digital assets. The letter was directly submitted to the Prime Minister's special advisor on business and investment, Varun Chandra, emphasizing the urgent need for the UK to "strengthen strategic focus" to drive investment, employment, and economic growth in the cryptocurrency sector.

The alliance includes the UK Cryptoasset Business Council, Global Digital Finance, Payment Association, and others. They recommend following the example of the United States and appointing a blockchain envoy to coordinate policy and promote innovation. The letter also pointed out that the United States has set up a head of crypto affairs under the Trump administration and has increased investment in crypto policy. The coalition calls on the UK to take advantage of the economic and trade agreement with the US on technology cooperation to seize the opportunity of global competition and establish a leading position in the field of digital assets and fintech.

This call has received widespread support from industry insiders. Tom Griffiths, co-founder of Compli, stated that although the UK's Financial Conduct Authority has the talent and planning, the UK is falling behind places like Dubai and Singapore. Now is a critical moment for regulators to act, to avoid missing out on the long-term development opportunities presented by digital assets.

3. Mauritius releases a consultation document on the metaverse financial services industry

The Financial Services Commission of Mauritius ( FSC ) recently issued a consultation document on the metaverse, aiming to explore the regulatory needs of the metaverse in the financial services sector. As the regulatory, supervisory, and inspection body for financial services in the country, the FSC hopes to understand the current state of the industry through this document and prepare for the development of relevant policies in the future.

According to the consultation document, the metaverse describes the next stage of internet development that many people expect, merging the virtual world with the real world. With the rise of the metaverse concept, related financial services are also developing rapidly, including virtual asset trading, digital identity verification, non-fungible tokens (NFT), and so on. The FSC believes that these emerging services may pose regulatory challenges, requiring the establishment of corresponding regulatory frameworks.

The consultation document will continue to solicit public opinions until May 31. The FSC stated that the collected feedback will help determine the regulatory focus of financial services in the metaverse and prepare for future legislative work. Industry insiders welcome this, believing that timely regulatory policies will create a favorable environment for the healthy development of the industry.