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Quick Take A16z-backed Story Protocol, a Layer 1 network built for IP management, has unveiled details of the tokenomics for its native token ahead of a mainnet launch. Of an initial supply of 1 billion IP tokens, 58.4% will be “allocated to the community across initial incentives, ecosystem, and foundation, ensuring broad participation and decentralized ownership.”
Quick Take Despite the volatility, we can’t help but stay bullish on crypto’s future. This column is adapted from The Scoop newsletter.
Quick Take Florida Republican Senator Joe Gruters filed a bill on Friday proposing that the state be allowed to invest in bitcoin and other cryptocurrencies. Gruters’s bill outlines that Florida’s CFO’s investments “in Bitcoin may not exceed 10% of the total funds in any account.”
Quick Take The SEC said it will decide on April 9, 2025 whether to approve or disapprove allowing options trading on BlackRock’s iShares Ethereum Trust. Also on Friday, the SEC asked for public comments on a proposal to list and trade options on Fidelity’s spot Ethereum ETF.
Quick Take Telegram game user retention rates “hovered at 5–20%, far below traditional gaming benchmarks” of 20% to 30%, according to a report from Helika. Disappointing airdrops, in particular the one launched by “Hamster Kombat,” caused the “euphoria” around Telegram tap-to-earn games to dissipate, the analytics firm also said.
- 18:30U.S. stocks continued to move lower, with all three major indexes down more than 1 per centU.S. stocks continued to move lower, with all three major indexes down more than 1 per cent. So far, the Nasdaq is down 1.35%, the Dow is down 1.28%, and the S&P 500 is down 1.06%. Tesla fell more than 4%, Google, Amazon fell more than 2%.
- 18:29US 10-year Treasury yield falls to 4.435 per centThe yield on the US 10-year Treasury note fell to 4.435 per cent, its lowest level since 7 February.
- 17:09Final US one-year inflation estimate for February recorded 4.3%, the highest since November 2023On 21 February, the final expected one-year US inflation rate for February was 4.3%, compared with 4.30% expected and 4.30% previous. US final one-year inflation estimate for February was recorded at 4.3%, the highest since November 2023.