Gate News message, April 12, the second batch of Hong Kong compliant stablecoin license applications is underway. According to reliable sources, Futu Securities and OSL Group are both applicants for the second batch of licenses. Previously, in November 2025, 13 ministries including the People’s Bank of China issued a statement, reaffirming China’s crackdown on virtual currency trading and classifying stablecoins as virtual currency, which means stablecoins will be impossible to trade in mainland China.

WLFI CEO Zach Witkoff responded to a critical article, pointing out that the article’s author is not affiliated with WLFI and that multiple pieces of information in the piece are incorrect, including confusing WLFI with the Trump meme coin and having no connection to CIC digital. He emphasized that WLFI’s main product is stablecoins and urged people to do thorough research before publishing.

Gate News message: On April 12, RAVE briefly surged more than 40%, reaching a high of $2.97 and currently trading at $2.4.

Bittensor co-founder Jacob Steeves responds to the Covenant AI incident, accusing its founder of betraying trust and issuing an apology. Steeves says he will move forward with a locked staking mechanism, enhance protocol transparency and resilience to risk, and continue to push for open AI development.

Gate News message, April 12, Musk’s social app XChat will officially launch on the App Store on April 17. Musk previously said that XChat’s goal is to replace the old Twitter direct message system and build a fully encrypted platform supporting text, file transfers, and audio and video calling.

Macro investor Jordi Visser believes that if Bitcoin and Ethereum break through $76,000 and $2,400 respectively, it will kick off a sustainable uptrend. He expects high inflation to push investors to seek profitable assets, and notes that the probability of an economic recession has fallen to 24%. This view contrasts with the current bearish expectations in the crypto industry.

Gate News message. On April 12, data from a certain CEX market shows that ETH is currently trading at $2,212, down 55% from its all-time high. ETH’s all-time high was $4,957 on August 25, 2025.

Argentina’s National Securities Commission revises the definition of eligible investors, bringing virtual assets within the scope of recognition. In addition, investors must hold at least 350k UVA. Furthermore, new crowdfunding financing provisions have been added, allowing non-eligible investors to participate in certain offerings. The maximum investment per transaction is 3,000 UVA, with a total cumulative limit not exceeding 10k UVA.

Gate News message. On April 12, according to on-chain data monitoring, Sky (formerly MakerDAO) co-founder Rune’s 7x leveraged Nasdaq 100 short positions have all been closed. He currently still holds 20x leveraged WTI crude oil futures long positions, 7x leveraged Brent crude oil long positions, and 20x leveraged S&P 500 short positions, and all of them are in a loss position. His overall position value has now fallen to about $680k, with an unrealized loss of about $60k, and the return on investment is -21.78%.