KEYTAKEAWAYS
- Algorithmic trading error causes 20% surge in BTCDOM after OM flash crash, as Trump plans new semiconductor-specific tariffs within two months despite technology exemptions.
- Japanese firm Metaplanet continues Bitcoin accumulation with 319 BTC purchase worth $26.3M, bringing total to 4,525 BTC as Strategy hints at additional Bitcoin purchases.
- Security concerns affect multiple projects with Odin.fun reportedly compromised and Bybit CEO denying allegations of promoting contract trading to students.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. Algorithm Error Causes 20% Surge in BTCDOM After OM Flash Crash
An unidentified liquidity provider encountered an algorithm error following the om (Mantra) flash crash, resulting in a 20% surge in the BTCDOM perpetual contract on Binance.
The error occurred when the liquidity provider mistakenly interpreted OM’s drastic price movement as a change in market structure, triggering a strategy-driven buy order despite OM accounting for only about 5% of the index weight.
The incident highlights risks associated with algorithmic trading and the importance of robust risk management systems.
2. CZ Weighs In on OM Crash, Questions Exchange Listing Processes
Binance Founder Changpeng Zhao (CZ) commented on the recent $OM crash, stating that centralized and decentralized exchanges should not have listing processes but instead “provide access to all tokens in the universe” and let traders decide what to trade.
MANTRA’s OM token plummeted from above $6 to $0.37 in under 24 hours, with reports suggesting the team or an associated market maker sold 87% of circulating tokens, though MANTRA denies involvement.
3. Commerce Secretary Not Worried About Dollar Strength Amid Trade Tensions
U.S. Commerce Secretary Howard Lutnick stated he is not worried about the strength of the U.S. dollar, despite escalating trade tensions causing uncertainty in the global trade landscape.
The trade war between the U.S. and China has intensified with both sides imposing retaliatory duties, though China has signaled its latest round of tariff increases may be its last for now.
Lutnick’s reassurance comes despite broader concerns about potential de-dollarization due to the tariff shock and resulting market volatility.
4. Strategy Hints at Additional Bitcoin Purchase
Bitcoin proponent Michael Saylor has hinted that Strategy (MSTR) may announce an additional BTC purchase this week, posting a BTC holdings tracker to X with the comment “no tariffs on orange dots.”
The company has added 80,785 BTC to its balance sheet since the beginning of the year after raising $7.69 billion in Q1, though it paused buying during the week ending April 6.
Strategy currently holds 528,185 BTC (2.515% of total supply) bought at an average price of $67,458, with holdings worth approximately $44.59 billion.
5. Trump’s Electronics Tariff Exemptions Only Temporary
U.S. Commerce Secretary Howard Lutnick clarified that tariff exemptions announced on electronics like smartphones and laptops are only temporary until the administration develops a new semiconductor-specific tariff approach.
President Trump downplayed the significance of the exemptions, stating on social media that the goods are “just moving to a different bucket” and will still face a 20% tariff.
Trump is expected to announce specific semiconductor tariff rates within the next week.
NOON NEWS
1. Metaplanet Purchases Additional $26.3M in Bitcoin
Japanese investment firm Metaplanet has purchased an additional 319 BTC worth $26.3 million at an average price of $82,549, bringing its total holdings to 4,525 BTC acquired for about $386.3 million.
The Tokyo-listed firm is now the ninth-largest publicly listed corporate Bitcoin holder globally and the largest in Asia, aiming to grow holdings to 10,000 BTC by the end of 2025.
Metaplanet’s stock closed up 3.71% in Japan on Monday, having risen 4.31% year-to-date and 967% in the past year.
2. Trump to Announce Semiconductor Tariff Rates This Week
President Donald Trump said he would announce the tariff rate on imported semiconductors over the next week, indicating the exclusion of smartphones and computers from reciprocal tariffs will be short-lived.
Trump stated, “We wanted to uncomplicate it from a lot of other companies, because we want to make our chips and semiconductors and other things in our country,” while suggesting “a certain flexibility” for some companies.
The administration’s back-and-forth on tariffs triggered the wildest market swings since the 2020 pandemic, with the S&P 500 down more than 10% since Trump took office on January 20.
3. ai16z Founder Announces Auto.fun Launchpad Platform
ai16z founder Shaw posted on X that the Launchpad platform auto.fun may go live this week, allowing creators to autonomously claim fees from content creation and token issuance.
The platform emphasizes “anti-hype” and “pure fun,” aiming to create a decentralized, transparent space for content and token publishing that truly belongs to creators and the community.
4. Ethereum Foundation Director Outlines Development Priorities
Ethereum Foundation Executive Director Tomasz K. Stańczak stated that Ethereum’s development is based on existing culture and values, with secondary goals including always minting assets on L1, winning RWA and stablecoin markets, and enhancing security.
Expanding blobs, L1, and improving user experience are the main roadmap, while the long-term vision includes building AI agent protocols, adding autonomous machines, creating an open-source society, and attracting future thinkers.
5. Janover Acquires Additional Solana Tokens
U.S. listed company Janover Inc. announced on April 11 that it has acquired an additional 44,158 Solana (SOL) tokens, valued at approximately $5 million.
EVENING NEWS
1. Matrixport: Bitcoin Implied Volatility Remains High Despite Tariff Resolution
According to Matrixport analysis, although the major tariff incident has passed, Trump’s confusing information has caused market uncertainty, with Bitcoin’s implied volatility remaining nearly 20 points higher than recent lows.
This indicates the market is pricing in continued uncertainty, suggesting Bitcoin traders should remain cautious in this high-risk environment.
2. Bybit CEO Denies Student-Targeted Trading Program Allegations
Bybit CEO Ben Zhou has strongly denied allegations that the exchange’s campus ambassador program encouraged students to download the app and participate in contract trading, challenging accusers to provide evidence.
The controversy began after BlockBeats, a Chinese crypto news platform, called on trading platforms to stop promoting contract experience bonuses to college students, claiming such programs induce gambling behavior among those with weak risk awareness.
Amid the controversy, Bitget issued a statement distancing itself from such practices, stating its campus program focuses on blockchain education and internship opportunities rather than trading incentives.
3. Mint Club Announces Phase 2 of MINT Airdrop
Mint Club announces Phase 2 of the $MINT airdrop will begin tomorrow.
4. Metaplanet Adds 319 Bitcoin to Treasury
Metaplanet Inc. added 319 bitcoin to its treasury at an average price of $83,147 per coin, bringing its total holdings to 4,525 BTC with an aggregate cost basis of $408.1 million.
The company evaluates performance through BTC Yield, which measures bitcoin holding growth relative to outstanding shares. For Q1 2025, its BTC yield reached 95.6%, with a year-to-date figure of 6.5% as of April 14.
Approximately 41.7% of the company’s “210 million plan” has been executed, supported by bond issuances and stock acquisition rights.
5. Odin.fun Platform Reportedly Compromised
On April 14, users on X reported unusual transactions on the Odin.fun platform, with founder Bob Bodily confirming his account was compromised, leading to unauthorized clearing of assets.
The platform’s flagship token, $ODINDOG, saw a sharp decline in value, reportedly dropping by almost 40% within hours, and is currently down nearly 90% from its all-time high of $1.78.
Odin has paused trading and withdrawals platform-wide while investigating whether the breach was an isolated incident or indicates a broader vulnerability, though some community members have questioned this decision and raised skepticism about the nature of the attack.
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