Federal Reserve Meeting Minutes: Progress Toward 2% Inflation Target May Be Slower

BNY Mellon CEO: Banks Won't Be Replaced by DeFi, Rather They Are the Key Bridge for the Next Phase of Crypto Adoption

BNY Mellon Chief Executive Robin Vince noted that the future adoption of cryptocurrency will depend on large traditional financial institutions, expressing opposition to claims that DeFi will replace banks. He emphasized that large banks' customer bases and infrastructure are key to driving tokenization, and called for clear regulations to promote digital asset adoption. This financial transformation is expected to take 5 to 15 years and will require collaborative efforts from all parties.

# Bond King Gundlach Warns of "Out of Control" Redemptions in Private Credit: Current Situation Resembles Pre-2008 Financial Crisis

Jeffrey Gundlach warns that the private credit market faces redemption pressure and low transparency risks, similar to the 2007 CDO bubble. He points out that market institutions have tightened redemption policies and predicts that if this collapse occurs, it will have serious implications for the crypto market.

Trump's Ultimatum to Iran Fails to Materialize, BTC Stabilizes After Breaking Below $70,000 Over the Weekend

QCP Group points out that Trump's ultimatum to Iran failed to materialize, and the market stabilized briefly. Despite BTC breaking below 70,000, its resilience has strengthened. With U.S. national debt exceeding 3.9 trillion, stagflation concerns intensify, and central banks face policy dilemmas. Iran proposed settling transit fees in yuan, and the market should monitor shifts in BTC.

Apollo and BlackRock Limit Redemptions, Liquidity Pressure Surges in $1.8 Trillion Private Credit Market

Apollo Global Management, BlackRock, and Blue Owl Capital, among other firms, have implemented redemption restrictions, reflecting intensifying liquidity pressures in the private credit market and growing investor concerns about high-risk exposures. Moody's downgrade of FSK's credit rating demonstrates accumulating industry risks. Future market stress will be determined by investor behavior and liquidity management.

Saxo Bank: Gold is under pressure due to liquidity selling and inflation concerns

Gate News reported that on March 24, analysts from Saxo Bank stated that the ongoing Middle East conflict continues to trigger widespread macroeconomic impacts on global markets, forcing investors to simultaneously reassess inflation, interest rates, economic growth, and liquidity conditions. Gold is being sold off as it is one of the few liquid assets that has remained on an upward trend over the past year. Gold is under pressure from concerns that elevated energy prices will push up inflation and suppress expectations for further rate cuts in the near term.

Japanese Government Bond Yields Hit Peak, Pressuring Asian Markets and Bitcoin, Risk Assets

Japan's 10-year government bond yield has risen to 2.32%, approaching the highest level since 1999, indicating stress in the financial system. Rising energy prices are intensifying inflation risks, and markets expect the central bank may raise interest rates. Japan holds $1.2 trillion in U.S. Treasury bonds, and rising yields impact global capital costs, potentially triggering price volatility in risk assets. Investors should monitor the impact of changes in government bond yields and energy prices on the market.