News

21:00-7:00 Keywords: SEC, Trump, Tether

1. Unto Labs completed a $14.4 million financing round;

2. The U.S. SEC delayed the approval of the Grayscale HEDERA Spot ETF;

3. Trump's media group plans to launch a Truth Social utility token;

4. The U.S. SEC delayed the decision on the Bitwise Spot DOGE ETF application;

5. The U.S. SEC delayed the approval of the Franklin XRP Spot ETF until June 17th;

6. The U.S. SEC delayed the decision on adding staking features to the Fidelity Spot Ethereum ETF;

7. Tether minted an additional 1 billion USDT, with a total of 2 billion minted today.

According to Jinse, based on information from Politico, U.S. Senate Majority Leader John Thune stated in a closed-door meeting that the Senate will address the "GENIUS Act" proposed by Senator Bill Hagerty before May 26. This bill, which passed the Senate Banking Committee in March, aims to restrict any entities other than "licensed payment stablecoin issuers" from issuing payment stablecoins. The House of Representatives has also introduced a companion bill, the "STABLE Act." Democratic lawmakers have criticized the close ties between Trump and related stablecoin companies, fearing an "unprecedented conflict of interest."

According to Jinse, despite the government pausing Bitcoin-related activities to secure a $1.4 billion loan, El Salvador has quietly continued its Bitcoin purchases through the Bitcoin office. The country added 32 Bitcoins last month, now holding over 6,160 Bitcoins valued at approximately $584 million. The IMF confirmed the country's Treasury Department has adhered to its commitment to "not increase holdings," but the Bitcoin office operates "outside these fiscal definitions," using "technical loopholes" to evade restrictions. To unlock IMF funds, El Salvador will remove Bitcoin as a mandatory means for payments and taxes starting May 1. President Bukele remains "committed to the Bitcoin strategy."

According to Jinse, U.S. President Trump stated that Federal Reserve officials are performing poorly. I am more insightful than the Fed Chair. I wish to be courteous and considerate towards the Federal Reserve. I have no intention of criticizing the Fed Chair.

According to a report by Jinse, Goldman Sachs' latest research paper indicates that the US goods trade deficit in March widened more than expected. Both imports and exports of goods increased in March. The main reason for the widening trade deficit is the increase in imports of consumer goods, which may reflect a "race against time" before the tariff hikes. The details of the leading economic indicators report show that compared to our previous GDP tracking assumptions, import growth was significantly stronger, but export growth moderately strengthened, and the pace of inventory accumulation accelerated. Overall, we have lowered our tracking forecast for US first-quarter GDP by 0.6 percentage points to -0.8% (quarter-on-quarter annualized). The US GDP data will be released on the evening of the 30th.

Jinse reports that the Trump administration has notified Congress of its plans to designate Haitian gangs as foreign terrorist organizations.

Jinse reports, according to CME "Fed Watch": The probability of the Fed maintaining rates in May is 92.3%, with a 7.7% probability of a 25 basis point cut. The probability of maintaining rates by June is 37.51%, a cumulative 25 basis point cut probability is 60.2%, and a cumulative 50 basis point cut probability is 4.8%.

According to Jinse, U.S. President Trump signed an executive order to mitigate the impact of auto tariffs, making concessions after weeks of intensive lobbying by automakers, parts suppliers, and car dealers. The industry had warned that exorbitant tariffs might increase car prices, lead to factory shutdowns, and cause unemployment. Under the executive order signed aboard Air Force One, imported cars will be exempt from additional aluminum and steel tariffs to avoid the cumulative effect of overlapping tariffs. A senior official from the U.S. Department of Commerce stated that the White House will also adjust a 25% tariff on auto parts originally set to take effect on May 3, allowing car companies manufacturing and selling vehicles in the U.S. to apply for a tariff deduction of up to 3.75% (25%X15%) of the vehicle's value. This deduction will decrease to a maximum of 2.5% (25%X10%) after one year and will be eliminated the following year. The policy applies to cars produced after April 3. Although the latest adjustments will somewhat alleviate cost pressures on automakers, parts suppliers, and dealers, it remains challenging to determine the actual financial relief. The entire industry is still dealing with a 25% tariff on imported cars, which could significantly increase industry costs and exacerbate supply chain pressures.

According to Foresight News, PumpBTC has announced that its airdrop claim window will close on April 30, reminding eligible users to complete their claims in time.