Headlines
▌****Trump: Pause tariffs because people are “a little scared”
U.S. President Trump said on Wednesday that he decided to suspend high tariffs on goods from dozens of trade partners for 90 days because people were “a little scared.” Trump also told reporters that he believes a “fair deal” will be reached between the U.S. and all countries. The stock market performed well. The record performance of the stock market is expected to continue.
▌**$587 million liquidated across the network in the past 24 hours**
According to Coinglass data, the total liquidation across the network in the past 24 hours was $587 million, with long positions liquidated at $213 million and short positions liquidated at $374 million.
Market
As of the time of writing, according to data from Coingecko:
The recent transaction price of BTC is $82,970.81, with an intra-day change of +8.5%;
The recent trading price of ETH is $1,661.15, with a daily price change of +12.8**%**;
The recent trading price of BNB is $582.23, with a daily change of +5.3%.
The recent transaction price of SOL is $118.70, with a daily price change of +12.9**%**;
The recent transaction price of DOGE is $0.1607, with a daily price change of +13.0**%****;**
The recent transaction price of XPR is $2.05, with a daily fluctuation of +14.4**%**.
Policy
▌****U.S. House Hearing Advances Cryptocurrency Market Regulation Bill
The U.S. House of Representatives held a hearing to discuss legislation on the structure of the cryptocurrency market, marking an important step forward for the bill. Lawmakers engaged in debate over the regulatory framework for digital assets, aiming to establish clear rules for cryptocurrency exchanges and token issuances. This hearing paves the way for final legislation and could change the regulatory landscape of the U.S. crypto industry. Proponents of the bill believe it will bring more certainty and investor protection to the market.
▌****New York State Legislator Proposes Blockchain Technology Bill to Protect Election Systems
New York State Assemblyman Clyde Vanel ( introduced Assembly Bill 7716 on April 8, 2025, proposing the use of blockchain technology to protect voter records and election results. The bill has been referred to the Election Law Committee for review, requiring the New York State Board of Elections to collaborate with the Office of Information Technology Services to submit a research report within one year of the bill’s enactment. This initiative aims to explore how the immutability and auditability features of blockchain technology can enhance the security of the electoral system.
Blockchain Applications
▌****Ripple announces the integration of the stablecoin RLUSD into the payment solution Ripple Payments
According to official news, Ripple has announced that Ripple USD (RLUSD) has been integrated into Ripple’s payment solution, Ripple Payments, to further promote the utility and demand for this asset among enterprises. This includes cross-border payment providers BKK Forex and iSend, which will use RLUSD directly. Additionally, as a dollar-pegged enterprise-grade stablecoin, RLUSD’s market value has approached $250 million, with transaction volumes reaching approximately $10 billion.
Cryptocurrency
▌****The rapid growth of tokenized funds is accompanied by warning signs
The credit rating agency Moody’s pointed out in a report on Wednesday that while the tokenization of funds is thriving, the serious risks that accompany it should not be overlooked by investors. Cristiano Ventricelli, Vice President and Senior Analyst at Moody’s, stated that when assessing tokenized funds, investors need to weigh the benefits against the risks posed by underlying technology, security, scalability, and regulatory changes.
Moody’s mentioned that many fund managers lack experience in the early stages of the tokenization market, with small teams and short track records, leading to key person risk, which is the over-reliance on a few individuals. The departure of key executives or weak governance structures can undermine fund stability. Therefore, it urges fund teams to diversify responsibilities and strengthen risk management. Blockchain disruption is another risk that arises from the novelty of the technology. While smart contracts can improve operational efficiency, they are vulnerable to coding defects or malicious attacks.
▌****Pakistan plans to use some of its remaining electricity for Bitcoin mining
Bilal Bin Saqib, the CEO of the Pakistan Cryptocurrency Committee, stated that Pakistan plans to allocate some of its surplus electricity to Bitcoin mining and AI data centers, adding that talks have been held with several Bitcoin mining companies, and the specific locations for mining will be determined based on the availability of surplus electricity in specific regions.
▌****Bitcoin may repeat the crash-rebound pattern of 2020
According to CoinShares analysts, the current trend of Bitcoin may replicate the crash rebound pattern seen in 2020. Under the geopolitical impact triggered by tariff disputes, Bitcoin has dropped 30% from its late January peak, and net inflows into exchange-traded funds (ETFs) have decreased by 10% from their peak.
Analysts indicate that despite the current macroeconomic pressures and bearish signals from the technical perspective, this downtrend is similar to that of 2020, when a strong rebound was fueled by a shift in monetary policy and investor optimism after a deep correction. Analysts believe that although the current challenges differ from those during the COVID crisis, the fundamental dynamics are remarkably similar.
Important Economic Trends
▌****Expectations for Federal Reserve rate cuts have significantly receded
According to CME’s “FedWatch”: The probability that the Federal Reserve will keep interest rates unchanged in May is 76.1%, while the probability of a 25 basis point rate cut is 23.9%. The probability that the Federal Reserve will maintain interest rates in June is 32.1%, with a cumulative probability of a 25 basis point rate cut at 54.1%, and a cumulative probability of a 50 basis point rate cut at 13.8%.
▌****Federal Reserve’s Kashkari: If the tariff pause continues, inflation impact is expected to weaken
Fed’s Kashkari: A dramatic shift occurred this afternoon. If the tariff suspension continues, the inflation impact is expected to weaken. Tariffs may lead to inflation, and we need to monitor it. The threshold for rate cuts remains high. The Fed is more inclined not to intervene in the market.
▌****The three major U.S. stock indices closed with significant gains, with the Nasdaq posting its largest single-day increase since 2001
The three major U.S. stock indices closed sharply higher. The Dow rose by 7.87%, marking the largest single-day gain since March 24, 2020. The S&P 500 index rose by 9.52%, the largest single-day gain since October 28, 2008. The Nasdaq rose by 12.16%, the largest single-day gain since January 3, 2001, and the second largest gain in history. The Russell 2000 index rose by 8.66%, the largest single-day gain since March 24, 2020.
Large tech stocks surged, with Tesla up over 22%, Nvidia up over 18%, Apple up over 15%, Meta up over 14%, Amazon up over 11%, Microsoft up over 10%, and Google up over 9%.
▌****Federal Reserve Meeting Minutes: The U.S. economy faces risks of high inflation and low growth
Federal Reserve policymakers almost unanimously agreed at last month’s meeting that the U.S. economy faces the risk of rising inflation and slowing growth simultaneously, with some policymakers pointing out that the Fed may face “difficult trade-offs.” The meeting on March 18-19 took place after the initial tariff plan of the Trump administration, which increased uncertainty about the economic outlook and led participants to favor a “cautious approach.” If inflation persists, they may choose to maintain higher interest rates for a longer period, or if a weak economy requires more direct attention, they may opt for rate cuts. “Participants assessed that uncertainty regarding the economic outlook has increased, and almost all participants believed that inflation risks are tilted to the upside, while employment risks are tilted to the downside.”
Golden Encyclopedia
▌What is an address poisoning attack in cryptocurrency?
Address poisoning attacks are malicious techniques used by attackers to reroute traffic, disrupt services, or gain unauthorized access to sensitive data by inserting false data or altering routing tables. These attacks exploit vulnerabilities in network protocols, posing serious threats to data integrity and network security.
