Key points for today:

1. The U.S. market is once again speculating about a recession, with statements from White House economic advisors and Trump directly causing panic selling in the market.

White House economic advisors: Expect Q1 to barely achieve positive growth, uncertainty in trade policy will be resolved by early April.

Trump bluntly stated that the transitional recession is temporary, and in the future, Americans won't know how to spend their money. Trump's comments have exacerbated panic on Wall Street, leading to a sharp decline in U.S. stocks last night.

2. Citigroup: Downgrades the rating of the U.S. stock market.

3. Last night, the Dow Jones fell by 2.08%, the S&P 500 dropped by 2.7%, and the Nasdaq fell by 4%. Tesla (TSLA.O) plummeted by 15.4%, Apple (AAPL.O) fell nearly 5%, and Nvidia (NVDA.O) dropped by 5%. The benchmark 10-year U.S. Treasury yield closed at 4.216%; the more interest-rate-sensitive 2-year Treasury yield closed at 4.894%.

4. All market trends are intensifying the panic brought on by the recession; currently, panic sentiment is spreading globally across markets, including cryptocurrencies, with Bitcoin continuing to drag down altcoins, leading to a waterfall-like washout.

5. Trump plans to sign a new executive order to lift restrictions on cryptocurrency banks and adjust stablecoin regulations.

6. The wish for a large gold price on the 10th of each month has been shattered, and so far there are no major gold projects, accompanied by a decline in SOL and a continuous drop in on-chain trading volume; no one is participating anymore.

7. In such a terrible market environment, the performance of Base chain's major projects is still decent, for example, the DBR backed by grok, currently around FDV 21M.

8. Big players on the ETH chain are facing significant liquidations in staking and lending, with the lowest prices dropping directly to $1754 each, which is a dramatic fall, directly reverting to 2023 prices, meaning the gains of the past two years have been completely wiped out.

9. Arthur Hayes: Do not rush to bottom fish; wait until the Federal Reserve "injects liquidity" before increasing your positions.

10. Coinbase will launch COOKIE (Cookie DAO). Coinbase will introduce 24/7 Bitcoin and Ethereum futures contracts.

11. Strategy plans to issue preferred shares to raise $21 billion, or continue to increase its Bitcoin holdings.

12. Manta co-founder: Market makers, whether active or passive, are "blood-sucking parasites"; the real liquidity demand only requires 0.2% of the total token supply.