Ndax Weekly TL;DR April 7th

• Vitalik Buterin Proposes Hybrid Architecture to Strengthen Ethereum Layer-2 Security and Finality
• Cardano Foundation Unveils Veridian, a Quantum-Resistant Digital Identity Platform
• Fed Chair Powell Signals Patience as Trump Tariffs Add Uncertainty to Inflation Outlook
• Bank of Canada May Deepen Rate Cuts as Tariffs Weigh on Markets and Jobs
   

Ethereum co-founder Vitalik Buterin has introduced a new roadmap to enhance the security and finality of Layer-2 rollups through a hybrid-proof system combining zero-knowledge (ZK) proofs, optimistic rollups, and trusted execution environments (TEEs). The approach aims to help L2s reach Ethereum's Stage 2 security goals by enabling instant finality under normal conditions and safeguarding against system failures via a security council. Buterin also emphasized the need for scalable data infrastructure, highlighting upcoming upgrades like Pectra and Fusaka, and proposed a shared ZK proof aggregation layer to reduce costs and improve efficiency across Ethereum applications. CryptoSlate

The Cardano Foundation has launched Veridian, an open-source digital identity platform designed to verify identities and authenticate online communications using decentralized identifiers and cryptographic tools. Positioned as quantum-resistant and globally interoperable, Veridian is accompanied by a dedicated wallet that allows users to manage credentials, private keys, and identifiers. Intended for individuals and organizations, Veridian aims to serve as an optional trust layer on the Cardano blockchain, competing with other blockchain-based identity projects like Worldcoin and Humanity Protocol. The Block

Federal Reserve Chair Jerome Powell warned that newly announced tariffs by President Trump could raise inflation and slow growth, but signaled that the Fed would remain cautious before adjusting interest rates. Speaking on April 4, Powell emphasized the central bank's independence and commitment to maintaining stable inflation expectations, despite political pressure for rate cuts. He noted that the full economic impact of the tariffs and potential retaliatory measures remains unclear and reiterated that current inflation remains above the 2% target. The Fed is expected to review its policy stance again in early May. CryptoSlate

The Bank of Canada is expected to cut interest rates further this year, with traders now pricing in a terminal rate of 2%, down from the current 2.75%, amid mounting economic pressure from U.S. tariffs and weakening domestic job data. Markets are split on the likelihood of a rate cut at the next decision on April 16, as Canada lost 62,000 full-time jobs in March and faces its worst market rout since 2020. While retaliatory tariffs could limit the central bank’s ability to cut rates due to inflation risks, recent comments from officials suggest efforts are being made to minimize the price impact and leave room for monetary easing. Financial Post

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News Nuggets

• SEC Confirms Fiat-Backed Stablecoins Are Not Securities but Raises Questions About Yield and Algorithmic Tokens CryptoSlate
• Ethereum Confirms May 7 Deployment for Pectra Upgrade After Delay CryptoSlate
• Sei Launches US Non-Profit Foundation and New York Office to Support Blockchain Growth Cryptonews 
• Japan’s SMBC Plans Stablecoin Launch with Ava Labs and Fireblocks in 2026 The Block 
• Counterfeit Android Phones Preloaded with Crypto-Stealing Malware Found in Global Scam Cointelegraph
• North Korean IT workers infiltrate UK blockchain projects as Google warns of growing global threat Cointelegraph
• Elon Musk says U.S. has no plans to use Dogecoin despite similarity to federal efficiency agency name Cryptonews
• Sonic Labs Shifts from Dollar-Pegged Algorithmic Stablecoin to UAE Dirham Version Cryptonews 

As of 04-07-2025 at 9:00 AM EDT

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$3.85 trillion to CA$3.49 trillion.
• Bitcoin's market dominance stands at 62.8%, while Ethereum's share is 7.5%.

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$106K and CA$113K registering a 6% change over the past week and a market cap of CA$2.2 trillion. (At time of writing)

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Mark your calendars!

• Apr 10 – US Core CPI Announcement  
• Apr 11 – OP Token Unlock 
• Apr 12 – RENDER Token Unlock 
• Apr 12 – APT Token Unlock 

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