Trump reiterates his stance on imposing tariffs on China, Europe, and other countries as BTC breaks through $78,000.

Headlines

▌****Trump reiterates his stance on imposing tariffs on China, Europe, and other countries

Trump stated on his social media platform that the United States has a huge fiscal deficit with countries such as China and the European Union, and the only solution is to impose tariffs, which have already brought hundreds of billions of dollars in revenue to the U.S. He criticized the Biden administration for the widening trade deficit with these countries and promised to quickly reverse this situation, reiterating that tariffs are a “very beautiful thing” for the United States.

▌****BTC突破78000美元

The market shows that BTC has surpassed $78,000, currently quoted at $78,007.29, with a 24-hour decline narrowing to 6.34%. The market is highly volatile, please ensure proper risk control.

Market

As of the time of writing, according to Coingecko data:

The recent transaction price of BTC is $78,322.34, with a daily change of -6.6%;

The recent transaction price of ETH is $1,578.34, with a daily volatility of -12.9**%**;

The recent trading price of BNB is $553.16, with an intraday change of -6.7%;

The recent transaction price of SOL is $105.40, with an intraday fluctuation of -12.3**%**;

The recent transaction price of DOGE is $0.1484, with a daily fluctuation of -12.1**%****; **

The recent transaction price of XPR is $1.92, with a daily fluctuation of -10.8**%**.

Policy

▌****U.S. federal agencies must report cryptocurrency holdings to the Treasury Secretary, and audit results may not be made public

Forbes journalist Eleanor Terrett posted on X platform that White House officials revealed that federal agencies are required to report their cryptocurrency holdings to Treasury Secretary Scott Bessent by tomorrow (April 7, Eastern Time). However, the executive order only requires the report to be submitted to Bessent and does not mandate public disclosure of the audit results. It is currently unclear whether or when this information will be made public.

Blockchain Applications

▌****Vaulta collaborates with Virgo to launch a stablecoin-based cross-border remittance network VirgoPay

Web3 banking operating system Vaulta has announced a partnership with digital asset service provider Virgo to launch the stablecoin cross-border remittance network VirgoPay, expected to go live in May. The platform can reduce traditional transfer times from several days to just a few minutes, with fees cut by up to 70%. Users can top up through bank transfers, wire transfers, crypto wallets, and choose from multiple fiat currencies for receiving. The first phase of services will cover the United States, Hong Kong, Canada, Argentina, Brazil, and Australia, with plans to expand to Southeast Asia and the Middle East markets later.

Cryptocurrency

▌****67,500 ETH whale positions liquidated, causing further decline in ETH

According to on-chain analyst Yu Jin, with this wave of decline, 67,500 ETH ( $1.05 billion ) loan positions were completely liquidated at the whale position of $1,650, which also fueled further decline of ETH. In fact, he added 2,160 ETH as collateral to lower the liquidation line at 1 a.m., but unfortunately, ETH kept falling and his ETH position was finally liquidated at 6 a.m. to repay his $74.4 million DAI loan.

▌****Two whale addresses bought over 30,000 ETH at a low price

According to Onchain Lens monitoring, two major addresses have recently made large purchases of ETH. The “7 Sibling” address spent 41.78 million USD to buy 25,092 ETH at an average price of 1,665 USD; another new wallet purchased 4,983.56 ETH at an average price of 1,631 USD using 8.13 million DAI.

▌****The cryptocurrency presale backed by Conor McGregor failed, raising only $390,000

The cryptocurrency $REAL, jointly launched by MMA superstar Conor McGregor and Real World Gaming DAO, raised only $392,000 in a 28-hour presale, falling short of the minimum fundraising threshold of $1.008 million. The project has been declared temporarily failed and will issue a full refund. Despite McGregor’s strong promotion on social media, the coin has still faced market indifference, reflecting a waning interest in celebrity-backed projects in the crypto market, especially during a period of overall market downturn and shrinking memecoin trading volume.

Important Economic Dynamics

▌****Trump: Has spoken with Asian and European leaders about tariff issues. The market sometimes needs to take medicine.

On Monday, as U.S. stock futures plummeted, President Trump stated that he did not intentionally manipulate the market sell-off and that he had spoken with European and Asian leaders about tariff issues. He also mentioned that it is impossible to predict what will happen in the market. When asked about market performance, he said that sometimes the market must “take medicine.”

▌****U.S. Senate passes Republican budget blueprint, advancing Trump’s tax cut agenda

The U.S. Senate passed a Republican budget blueprint last Saturday aimed at extending President Trump’s tax cuts worth trillions of dollars from 2017 and significantly reducing government spending. The Senate approved the “budget reconciliation” measure by a vote of 51 to 48, which will allow Republicans to bypass the 60-vote threshold required to overcome a filibuster, enabling them to pass Trump’s tax, border security, and military priorities later this year without Democratic support. The bill will be sent to the Republican-controlled House of Representatives, which is expected to review it this week. Nonpartisan analysts have stated that if Trump’s agenda is enacted, it will increase federal government debt by about $5.7 trillion over the next decade. Senate Republicans estimate the cost of the measure at $1.5 trillion and argue that the impact of extending the existing tax policy, set to expire at the end of this year, should not be counted towards the cost of the measure.

▌****Musk publicly ridiculed US trade advisers: either conceited or brain problems

According to a report by the World Journal on April 5, Elon Musk, a billionaire who served as the head of the Office of Efficiency in the Trump administration, publicly criticized core members of the Trump administration at a rare moment when the trade war led to a sharp decline in the Wall Street stock market. Peter Navarro, Trump’s senior advisor on trade and manufacturing, attempted to downplay market concerns arising from losses caused by the trade war during a CNN program on April 4. After Navarro insisted that tariffs would ultimately yield positive results, Musk publicly mocked him on his social media platform X. He replied to a post mentioning Navarro’s Harvard PhD in economics, saying, “Having a Harvard PhD in economics is not a good thing, but a bad thing. It leads to arrogance or a problem with the brain.” A user responded that Navarro was “right,” to which Musk replied: he “has no achievements.”

▌****Former U.S. Treasury Secretary Criticizes Tariff Policy: The Biggest Self-Inflicted Wound in History

On April 6 local time, it was reported that after U.S. National Economic Council Director Hassett made remarks that “tariffs will lead to a decrease in U.S. consumer prices,” former U.S. Treasury Secretary Lawrence Summers stated that he disagreed with Hassett’s assertion. He believes that President Trump’s tariff policy is the largest self-inflicted wound ever for the U.S. economy. Summers stated that tariffs will lead to rising prices, exacerbate inflation rates, and subsequently reduce people’s purchasing power, which also means a decrease in job opportunities. On April 2, U.S. President Trump signed an executive order regarding the so-called “reciprocal tariffs” at the White House, announcing a 10% “minimum benchmark tariff” on trade partners and imposing higher tariffs on certain trade partners. This move by the U.S. government has faced widespread opposition and criticism globally.

▌Spot gold has fallen below 3000 USD

Spot gold has fallen below $3000/oz for the first time since March 21, down 1.28% on the day.

Golden Encyclopedia

▌What is an address poisoning attack in cryptocurrency?

Address poisoning attacks are malicious means used by attackers, who can reroute traffic, disrupt services, or gain unauthorized access to sensitive data by injecting false data or altering routing tables. These attacks exploit vulnerabilities in network protocols, posing a serious threat to data integrity and network security.