Good morning, frens! ☕️ 

This week’s market has been less of a chart and more of a seismograph - spikes, dips, and a general sense of “is this normal”?

Every candle feels personal. Perfect time for all of us to pretend we have a plan 😅 

What we’re circling this time:

• 🎢 Tariffs rollercoaster and market uncertainty

• 🥞 Ambire’s BAKING – but who gets the CAKE?

• 🐺 Colossal brings back extinct dire wolves: degens seize opportunity

• 🤯 CZ becomes Pakistan's crypto advisor

As for our W3oF Degen Portfolio… well, when you think it can’t go lower, it politely proves you wrong. Again.

At this point it’s not bleeding - it’s just laying there, emotionally unavailable. But hey, that’s what makes it art.

Got something more tragic or more genius to contribute? The Discord is open.

Tariffs rollercoaster and market uncertainty

Crypto thrives on volatility - but this week it didn’t just flirt with chaos.

It dated it, moved in, and signed a prenup.

The setup: rumors

It began with a rumor: Trump might delay tariffs by 90 days. Nothing confirmed, just signals floating through the usual political fog. But in today’s market, a half-rumor is worth a full pump 👇️ 

• BTC pumped. Ethereum, XRP, and the rest started catching up. Stocks joined the move.

• Traders - weary from weeks of macro stress - leaned in hard.

• The charts were green. The air was lighter. Even the most doom-anchored bears looked confused.

And then the trap closed 🤯 

The flip

Trump denied it.

Just like that, the mood reversed. Crypto cratered. Stocks gave back gains.

Sentiment collapsed like one of those solana rugs. Analysts began stress testing every word, every comma, trying to figure out if the original leak had been a misread or just bait 😰 

There was no time to find out - because the reversal was already en route.

The reversal

Just a day later, the administration confirmed it - the 90 day pause on tariffs was actually happening. Not all tariffs, mind you. Just “some”, others would still be ramped up to 125 percent.

• But the confirmation was enough. Risk assets snapped back. BTC and alts woke up a bit. Everyone who had sold the bottom got to enjoy that uniquely crypto flavored regret - the kind that sets in fast and sticks around all week.

But the thing is - tariffs aren’t a crypto native issue. There’s no line of Solidity code that breaks because of U.S. trade policy, so it’s not about code. It’s about liquidity.

• Markets trade on flows. And when tariffs threaten supply chains, threaten inflation, threaten consumer behavior, those flows dry up. Investors dump whatever they can. Risk is repriced. And crypto, sitting at the end of the liquidity hose, feels it hardest 🔨 

It’s not a bug. It’s how macro works.

Every trader who still believes crypto is uncorrelated should stare at this week’s chart until it burns into their retina.

This wasn’t about use case. It wasn’t about tech. It was about how one headline can create a three day rollercoaster across every asset class 🎢 

Crypto didn’t cause it. It just absorbed it - and broadcast it louder than anything else.

What this means long-term

It was nothing less than a full stress test for the “crypto as a macro asset” thesis.

And for now, it passed - barely 🫢 

But it also exposed just how fragile that thesis still is. Crypto is fast, global, and liquid. That makes it a perfect shock absorber for political noise. But it also means it’s constantly being tested in markets it doesn’t control.

Plus the 90-day pause is a bandaid, not a fix. The policy swings will keep coming. Tariffs aren’t off the table - they’re just shelved for now. And every time they resurface, so will the volatility ⌛️ 

Ambire’s BAKING – but who gets the CAKE?

Gas fees are the annoying side dish no one asked for. But Ambire is back in the kitchen with something a little sweeter on the plate - pay gas with $CAKE and get a shot at a $1,000 prize pool 💰️ 💰️ 

The campaign is running until April 14, where every time you settle your onchain dues with PancakeSwap’s native token, you’re not just covering fees - you’re entering a raffle.

Of course, don’t confuse a giveaway for a yield strategy - this isn’t alpha, it’s a cherry on top. Plus a reminder - DeFi UX doesn’t have to taste like cardboard 👀 

Colossal brings back extinct dire wolves: degens seize the opportunity

A biotech milestone meets meme coin hype.

Colossal Biosciences, the biotech startup already known for wanting to deextinct the woolly mammoth, just raised the bar - and the eyebrows - with the announcement that it successfully brought back dire wolves.

Using gene edited gray wolf DNA and fossils aged up to 10,000 years, they managed to recreate a trio of lab-grown pups: two males and a female 🐺 

A genuine scientific leap. Real researchers, real DNA manipulation, real conservation planning. The wolves have been placed in a secure 2,000-acre preserve, monitored by drones and fences - just in case nature decides she isn’t done with extinction after all 🤔 

But here come the degens

• Within hours of the announcement, a meme coin called REMUS launched on Pumpfun, named after one of the cloned pups. It pumped to a $13.3 million market cap in nine hours.

• Two more followed - ROMULUS and KHALEESI - peaking at $2.1M and $786K respectively. No docs, no utility, no plans. Just a picture of a wolf and a drum barrel of hopium.

Buy pressure came from the usual cocktail of CT influencers, Telegram echo chambers, and day one traders who proudly presented 100X flips into six figures before dumping their bags 💰️ 

While scientists talked about ecological restoration and CRISPR breakthroughs, crypto Twitter debated whether shitcoins would get CEX listings.

But here’s the worst part - despite being launched as a meme, in the middle of a bloody market, these coins became the best performing shitcoins of the week 🤦‍♂️ 

In a way, the meme lived up to its namesake - it climbed out while everything else was experiencing an extinction event. For a short while.

CZ becomes Pakistan's crypto advisor

It’s not every day that a man who once stood at the helm of the largest crypto exchange - before stepping down and handing over billions in fines - ends up advising a country that was openly hostile to crypto just a few years ago. But here we are.

• Changpeng Zhao, better known as CZ, is now Pakistan’s official Strategic Advisor on crypto and digital innovation 🤔 

• His appointment to the newly-formed Pakistan Crypto Council marks a surprising shift in tone for the nation, which not long ago threatened jail time and exchange bans for crypto users. Now they’ve given CZ a seat at the policy table.

If there’s one thing CZ knows, it’s how to stay relevant. Even post-Binance, he managed to somehow turn his jail experience into a consulting career 🤕 

A country changes its mind

Pakistan’s pivot isn’t just about optics. This is the same government that proposed an outright crypto ban in 2022, labeling it a national security risk. The change of heart is telling 🧠 

• Economic pressures have pushed many governments to reconsider crypto - not as a threat, but as a lifeline 🆘 

• From Nigeria to Argentina, from Turkey to now Pakistan, the pattern repeats. High inflation and lack of trust in traditional finance create just the right conditions for crypto to stop being a villain and start being a policy tool.

• With the creation of the Pakistan Crypto Council in March 2025, the country signaled its interest in developing a more structured approach to blockchain adoption. CZ, for better or worse, is now part of that blueprint.

Laundering the rep

It’s also a useful PR boost for CZ himself. After stepping down as Binance CEO, going to jail and navigating legal minefields across multiple jurisdictions, the man has been relatively quiet - until now.

His role in Pakistan allows him to re-enter the public stage not as the poster boy of regulatory overreach, but as a guide for “responsible innovation” 🫠 

I.e - a redemption arc wrapped in fancy language 🗣️ 

Pakistan’s crypto council, for its part, plans to work on everything from education and adoption to international investment incentives.

Other worthy reads

Some thoughts on ve-tokenomics for Pancakeswap:

An interesting story on a GMX liquidation:

“Networks in Crypto VC” by Decentralised.co:

MEMES

That's all for now, frens.

We'll meet in a week! And remember, the market conditions are temporary, but our commitment to building a better DeFi is here to stay. Thanks for joining us, and we look forward to seeing you back next week. Cheers!

Yours, The 🔥 Team

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