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Dogecoin Slumps 3%, Bitcoin Steady Around $85K as Traders Fear U.S. Recession

Dogecoin shed 3% while bitcoin (BTC) and ether (ETH) remained flat in the past 24 hours as tariff concerns gradually subsided among traders, though fears of a U.S. recession increased in betting markets. “Prominent financial figures have started to warn that the US is heading into an imminent recession, with betting markets placing 40% to 60% odds of one happening in 2025,” Augustine Fan, head of insights at SignalPlus, told CoinDesk in a Telegram message. “Our view is that it probably doesn`t matter, as sentiment often frames reality, not the other way around.” “As such, crypto has benefited from the recent shake-out, as equities have been realizing higher volatility than Bitcoin through the risk-off move. A beggar-thy-neighbour policy with tariffs has pushed spot gold to ATHs, with BTC finally regaining some of its long-lost `store of value` narrative,” Fan added. Crypto majors tracked by the broad-based CoinDesk 20 (CD20) slid nearly 2%, data shows, with DOGE leading losses. Solana’s SOL, tron (TRX) and Cardano’s ADA lost as much as 2.5%, BNB Chain’s BNB and xrp (XRP) were little changed as bitcoin clung to the $85,000 level. Mantra’s OM token showed a 20% rise over the past 24 hours to trade at 63 cents in Asian morning hours Tuesday, following a bizarre sell-off that saw it lose 90% within an hour late Sunday. A recovery plan is in the works, its CEO said in an interview following the plunge, though market watchers remain sceptical of any promises. Elsewhere, Story Protocol’s IP dumped 20%, then jumped more than 30% within hours late Monday, with early fears of an OM-like sell-off among crypto circles. Meanwhile, VeThor’s VTHO zoomed 37% as UFC CEO Dana White joined the protocol as a strategic advisor, boosting hopes for mainstream adoption — and recognition — of the RWA-focused token.- https://x.com/vechainofficial/status/1911817066887197012 Meanwhile, Singapore-based QCP Capital said in a Telegram broadcast that BTC risk reversals remained skewed in favour of puts until June, suggesting that markets are still mildly cautious in the near term. “That said, the tone further out is turning more constructive. On Saturday, we observed aggressive buying of 800x BTC-27MAR26-100k-C. BTC continues to consolidate within the $80k-$90k range and could continue trading sideways, adopting a "wait and see" approach to the tariff situation,” QCP said. However, the $100,000 call option has become the most favored bet among traders in the mid-term, as CoinDesk noted Monday, with a notional open interest of nearly $1.2 billion. Meanwhile, some traders say that sell-offs related to tariffs may be well behind and hope for improved sentiment in the days ahead. “The current upward trend was further bolstered by the Federal Reserve`s assurance that it stands ready to intervene and stabilize markets in the event of a crisis triggered by the tariffs,” Jupiter Zheng, partner of liquid fund and research at HashKey Capital, told CoinDesk. “As the US engages in trade negotiations with other nations, we remain hopeful that the most turbulent period may be behind us,” Zheng ended. CoinOtag

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IDA and AUDC Partner on HK-AU Stablecoin-Based Cross-Border Trade Initiative

HONG KONG, April 15, 2025 /PRNewswire/ — IDA, a Hong Kong-based fintech company, and AUDC Pty Ltd have announced a strategic collaboration to launch a Hong Kong-Australia stablecoin-based cross-border trade initiative. This initiative aims to transform trade between Hong Kong and Australia by introducing faster, more transparent, cost-effective cross-border payment systems. Building on the strong trade relationship established under the Australia-Hong Kong Free Trade Agreement (A-HKFTA), this collaboration leverages Hong Kong’s role as a vital gateway connecting mainland China with the world. The agreement, A-HKFTA, which underscores Hong Kong’s high degree of autonomy under the ‘One Country, Two Systems’ framework, provides a solid foundation for this innovative initiative. In 2023, Australia and Hong Kong had a total trade value of US$5.3 billion[1]. Total exports from Hong Kong to Australia amounted to US$3.4 billion, with the bulk of re‑exported goods originating from mainland China. Hong Kong’s imports from Australia in 2023 amounted to US$1.9 billion worth of Australian merchandise, including agricultural produce, seafood, and beverages. Looking ahead, Hong Kong aims to drive growth in emerging industries such as biomedical technology, green energy, and financial technology. Sean Lee , Co-Founder of IDA , emphasized the significance of this partnership: “This collaboration builds on the progress made in bilateral trade relationships. Recent diplomatic efforts between Hong Kong, China, and Australia have reduced trade barriers, creating an ideal environment for innovative solutions like stablecoins to modernize trade systems. The potential for stablecoin technology to enhance efficiency and unlock opportunities across industries is enormous.” Effie Dimitropoulos , CEO of AUDC Pty Ltd , expressed her enthusiasm for the initiative: “At AUDC Pty Ltd, our mission is to deliver secure and compliant digital payment solutions to support global trade. Our Australian Dollar-backed stablecoin, AUDD, addresses inefficiencies in cross-border trade, offering businesses in Australia, Hong Kong, and beyond a faster and more transparent settlement mechanism. This collaboration is a pivotal step toward modernizing trade settlements and unlocking new growth opportunities for industries on both sides.” HKTDC Research: https://research.hktdc.com/en/article/MzM0NDE0OTM3 About IDA Finance Hong Kong Limited (IDA) IDA is the premier digital asset technology company to spearhead the widespread adoption of blockchain finance and to empower businesses to seamlessly integrate between Web2 and Web3. IDA will launch a stablecoin product that is designed to drive enhanced connectivity of digital currency for seamless commerce and payments between Hong Kong and global markets, 24/7/365. To maintain the highest level of security and stability, all circulating stablecoins will always be fully backed by at least 100% reserve assets in regulated Hong Kong-based authorized institutions. To maximize the network effect of the stablecoin project for domestic and cross-border usage, IDA is partnering with key industry players to facilitate the minting, redemption, and widespread acceptance of stablecoins as a payment and settlement digital currency. More information can be found at idafi.xyz / LinkedIn / X About AUDC Pty Ltd AUDC Pty Ltd is a pioneering fintech company dedicated to transforming the future of money through blockchain technology. The company powers the Australian Digital Dollar (AUDD), a stablecoin backed 1:1 by the Australian Dollar, designed to provide businesses and consumers with a stable, reliable, and globally accessible digital asset. With a strong focus on innovation and digital finance solutions, AUDC is committed to driving the next generation of financial technology. For more information about AUDD, please visit: https://audd.digital https://www.linkedin.com/company/audd-digital CoinOtag