What Is Happening in Crypto Today: Circle IPO Plans Advance, Ethereum Blob Fees Drop, Binance Delists USDT, and Trump’s Tariff Talk Sparks Bitcoin Volatility

Circle has moved forward with plans to go public in the United States, marking a key moment in the stablecoin sector. The USDC issuer filed its S-1 registration with the Securities and Exchange Commission on April 1, targeting a listing on the New York Stock Exchange under the ticker “CRCL.”

Despite omitting pricing information and share counts the filing announced financial metrics related to Circle’s operations. The company achieved $1.67 billion revenue during 2024 while recording a 16 percent increase from the previous year’s figures. During the period net income decreased by 41.8 percent to reach $155.6 million. Circle reported that its USDC reserves return over 99 percent of its revenue while the reserves primarily invest in Treasury securities.

The company had previously attempted a public debut through a SPAC deal in 2021, which was later dropped in 2022. A confidential filing in January 2024 preceded the current public application.

Also Read: SEC April 3 Closed Door Meeting Weighs Heavy on Ripple (XRP) – What to Expect?

Ethereum Sees Revenue Slide as Blob Fees Hit 2025 Low

Ethereum received minimal blob fees from layer-2 data storage since the beginning of this year. The blob fees generated by Ethereum amounted to only 3.18 ETH during the week of March 30 when measured through Etherscan. During this week Ethereum’s earnings reached only $6,000 in blob fees through blockchain transactions while declining 73 percent from last week and dropping 95 percent since mid-March.

With the introduction of blobs through Dencun users received decreased fees by removing L2 data from the Ethereum network. The implementation of the Dencun upgrade lowered user fees but it simultaneously decreased Ethereum network fee earnings to a substantial degree. Figure obtained from Dune Analytics indicates blob fee income reached its maximum in late 2024 only to experience a continuous downward trend that demonstrates fluctuating L2 throughput requirements.

Binance Halts USDT Spot Pairs in Europe to Align with MiCA Rules

In response to the European Union’s Markets in Crypto-Assets (MiCA) regulation, Binance has delisted several spot trading pairs, including Tether’s USDT, in the European Economic Area. The move took effect on March 31, ahead of the compliance deadline set for the first quarter of 2025.

Users in the EEA can still hold affected tokens and trade them in futures markets, but direct spot trading is no longer supported. Other delisted tokens include Dai (DAI), Pax Dollar (USDP), TrueUSD (TUSD), and First Digital USD (FDUSD). Binance is among several exchanges, including Kraken, adjusting their token offerings to meet MiCA standards.

Trump’s Tariff Plans Cast Shadow on Bitcoin Market Movement

As the United States prepares for former President Donald Trump’s “Liberation Day” tariffs, uncertainty has gripped the crypto markets. Bitcoin remains in a volatile range, with no clear direction established ahead of the anticipated economic shift.

Bitcoin faces an equal possibility of either rising to $88,000 or dropping to $73,000 in the market based on the analysis of crypto expert Nic Puckrin. The existing market position of Bitcoin falls below the 200-day moving average as investors show signs of uncertainty through declining trading activity.

Professional analysts predict new tariffs would negatively affect Bitcoin’s short-term market direction. The combination of slower market expansion and rising price pressures might negatively affect risk assets together with crypto assets. Some experts predict Bitcoin will experience positive effects from stagflation conditions because these economic circumstances restrict Federal Reserve Bank rate increases.

Conclusion

The crypto market is adjusting to a mix of financial disclosures, regulatory enforcement, and global economic signals. Circle’s IPO filing, Ethereum’s fee declines, Binance’s MiCA response, and Trump’s tariff plans are shaping a complex outlook. Market participants are watching closely as these developments continue to influence crypto asset behavior.

Also Read: Solana-Based Meme Coin ACT Plunges Nearly 50 Percent Amid Market Selloff

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