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Golden Ten Data reported on April 2 that Sam Kerr of Mergermarket stated that the ongoing market downturn triggered by the Middle East war may weaken the scale of SpaceX's initial public offering (IPO). The decline in US stock indices will limit the windows available for the company to go public. According to The Wall Street Journal, a confidential document submitted to the US Securities and Exchange Commission shows that SpaceX is likely to be listed in July. "Launching any deal in a weak market—no matter how high quality the company—will restrict the valuation you can achieve," Kerr said. He added that the anticipated size of the IPO itself increases the challenges SpaceX faces, though Musk may be hoping to boost demand by attracting retail investors.

Glonghui April 2｜Goldman Sachs stated that with Eli Lilly's oral weight loss drug being approved ahead of schedule, the company will usher in a new round of key product cycles. Goldman Sachs maintains its "Buy" rating for Eli Lilly, with a 12-month target price of $1,260.

Foresight News reports that Flashbots Senior Research Scientist and Imperial College London visiting scholar Jonathan Passerat-Palmbach systematically reviewed the academic evolution and real-world limitations of encrypted mempools at the EthCC[9] conference. He pointed out that from early committee-based threshold encryption schemes, to batched threshold encryption, and further to the Beast-Mev scheme combining silent setup with batch decryption, the academic community has proposed various constructions. However, no existing scheme can simultaneously meet all the requirements for protocol-level deployment—such as silent setup, non-interactive decryption, small keys, and small ciphertexts. Therefore, the cryptographic section of encrypted mempools cannot yet be directly embedded into the Ethereum protocol. The more critical issue, he noted, lies on the economic level. Encrypted mempools use a blind ordering mechanism, where transactions are sorted in an encrypted state. This gives rise to three problems: 1) Searchers will still submit large amounts of blind arbitrage bundles, resulting in on-chain spam transactions; 2) Reduced MEV subsidies will make it harder for geographically remote validators to remain competitive, which will in turn exacerbate centralization; 3) User execution quality will decline, with greater price deviation and higher rollback probability for transactions. Jonathan stated that the sequencing design of decrypting after execution prevents auction mechanisms from functioning effectively, even though auctions are the optimal way to manage MEV incentives. He proposed programmable privacy as an alternative, allowing for intermediate states between fully encrypted and fully public, which can currently be implemented via TEE and could incorporate more advanced solutions such as FHE in the future. In summary, he concluded that privacy cannot exist independently from economic incentives and should continue to be experimented with off-protocol rather than being hastily integrated.