BlockBeats News: On April 1st, according to on-chain data, Wintermute executed a high-frequency sell of approximately $250,000 worth of ACT token through Raydium in a span of half an hour. This aligns with its founder's arbitrage trading speculation and the narrative that "Wintermute reacted after the price experienced significant fluctuations, arbitraging the AMM pool."

BlockBeats News, April 1st, PumpBTC announced the PUMP Tokenomics, with a total supply of 1 billion tokens, as follows:

Community Ecosystem: 38% (380,000,000 PUMP)

6% (60,000,000 PUMP) unlocked at TGE (Token Generation Event)

32% (320,000,000 PUMP) linearly unlocked over 4 years for user incentives, partnership relations, and developer grants

Initial PUMP Allocation: 9% (90,000,000 PUMP)

Unlocked at TGE

Marketing: 5% (50,000,000 PUMP)

Supports marketing and growth, unlocked at TGE

Liquidity: 3.5% (35,000,000 PUMP)

Supports trading liquidity, unlocked at TGE

Contributors: 19.5% (195,000,000 PUMP)

Locked for one year, then unlocked monthly over 3 years

Investors: 20% (200,000,000 PUMP)

Locked for one year, then unlocked monthly over 3 years

IDO: 5% (50,000,000 PUMP)

Unlocked at TGE

Airdrop Details: PumpBTC will distribute 9% (90,000,000 PUMP) of the total supply through an airdrop to loyal supporters.

BlockBeats News, April 1st, the U.S.-based cryptocurrency exchange Coinbase experienced its worst quarterly performance since the 2022 FTX exchange crash, despite strong revenue expectations, with a 33% decline in its Q1 2025 stock price.

Coinbase is expected to release its 2025 financial data in early May. The company's recent shareholder letter shows that as of February 11th, the company has generated approximately $7.5 billion in transaction revenue and expects subscription revenue to be between $6.85 billion and $7.65 billion. Although Coinbase has not disclosed Q1 profit data yet, MarketBeat analysis estimates its profit to be around $1.87 billion.

Coinbase is not alone, as most publicly listed crypto companies also reported similar results in Q1 2025. Major crypto mining company Marathon Digital Holdings saw its stock price near $17.5 at the beginning of the first quarter, dropping to $11 at close, a loss of over 37%.

Not just the crypto industry, the entire stock market has also faced significant impacts, largely attributed to recent geopolitical changes. The U.S. stock market index S&P 500 was at 5890 points at the start of this quarter, closing at 5610 points, a loss of over 4.75%. Market participants feel uncertain as U.S. President Donald Trump continues to wage trade wars on multiple fronts. Reports this week indicate that concerns over a global trade war persistently weigh on traditional and crypto markets, with investors preparing for the U.S. tariff policy expected to be announced on April 2nd.

BlockBeats News, April 1st, Binance co-founder He Yi responded to today's "Meme Coin Crash, such as ACT" event, stating, "The corresponding team is preparing a detailed response."

BlockBeats News, April 1st, the total open interest value of ACT contracts on the Binance platform experienced a 76.53% flash crash in 5 minutes: the data observed at 18:30 today was $94.1286 million, while the data observed at 18:35 was $22.0932 million.

As of the data as of 19:55, the current total open interest value of ACT contracts on the platform has rebounded to $25.7079 million.

BlockBeats News, April 1st: Crypto KOL and former FTX community partner Benson Sun posted on social media today, analyzing that "At 18:30 today, ACT suddenly experienced a flash crash of 50%. The cause was Binance adjusting the leverage position limit for ACT, where a single leverage can only open a position of up to $4.5 million. Some market maker positions exceeded the limit and were directly liquidated at market price. After the contract price collapsed, a huge price difference appeared between the contract and spot, causing the spot market to also crash."

This time Binance announced the change on April 1st at 15:32, with the change taking effect at 18:30 on April 1st, giving users less than 3 hours to react. What's even more absurd is that on March 31st, Binance had already announced a modification to ACT's position limit, and on April 1st, they further reduced the position limit for low leverage by 50%.

Before modifying the rules, Binance should assess how many positions would be liquidated. If a market maker's position is significant, they should also provide prior notice. As a leading company in the industry, we hope Binance can handle this incident properly."

BlockBeats News, April 1st, Wintermute's founder and CEO Evgeny Gaevoy further responded to the "Meme Coin Crash" event, stating, "If I had to guess, we were reacting to the price swing and arb'ed the AMM pool."