BTC breaks through $93,000, Tesla holds nearly $1 billion in Bitcoin

Headline

▌BTC breaks through $93,000

The market shows that BTC has broken through $93,000 and is now at $93,019.99, with a 24-hour increase of 6.83%. The market is volatile, so please do a good job of risk control.

▌Tesla has not conducted any cryptocurrency transactions in the past three months and currently holds nearly $1 billion in Bitcoin

Tesla holds nearly $1 billion in Bitcoin. The Financial Accounting Standards Board now requires digital assets to be marked to market every quarter. Tesla's first-quarter revenue was $19.34 billion, which was lower than analysts' expectations. Analysts had previously expected revenue of $21.37 billion.

As of March 31, Tesla's digital asset holdings were worth $951 million, down from $1.076 billion on December 30 last year. This change was due to the decline in Bitcoin prices. Tesla currently holds 11,509 Bitcoins on its balance sheet. Arkham data shows that Tesla has not conducted any transactions in the past three months.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is 93,544.77 US dollars, with a daily increase or decrease of +6.9%;

ETH's latest transaction price is 1,755.79 US dollars, with a daily increase or decrease of +11.4%;

BNB's latest transaction price is 618.45 US dollars, with a daily increase or decrease of +3.6%；

SOL's latest transaction price is 148.87 US dollars, with a daily increase or decrease of +9.1%；

DOGE's latest transaction price is 0.1792 US dollars, with a daily increase or decrease of +12.8%；

XPR's latest transaction price is 2.22 US dollars, with a daily increase or decrease of +6.7%。

Policy

▌Michael Saylor: New US SEC Chairman is Positive about Bitcoin

According to Watcher.Guru, Michael Saylor said: "Paul Atkins, Chairman of the US Securities and Exchange Commission, will be positive about Bitcoin." 

Previously, Paul Atkins was sworn in to replace Gary Gensler as Chairman of the US SEC.

Blockchain Application

▌EU data regulator has proposed rules to restrict how personal blockchain data is stored

According to Decrypt, the EU Data Protection Board has approved draft rules governing how personal data is stored and shared on the blockchain. The European Data Protection Board (EDPB) said the new guidelines restrict access to stored information and comply with the protection provisions of the General Data Protection Regulation (GDPR).  

The EDPB approved the rules this month and opened them for public comment until June 9.  

The new guidelines state: “Certain characteristics of blockchain may pose challenges when meeting the requirements of the GDPR. The guidelines emphasize the need for data protection by design and default, as well as adequate organizational and technical measures.” “In general, the storage of personal data on the blockchain should be avoided if it conflicts with data protection principles,” the document adds.                                   

▌XRP Ledger Foundation discloses ‘serious vulnerability’ in the latest updated version of the XRPL JavaScript library

The XRP Ledger Foundation said the latest version of the XRPL JavaScript library used to build applications has a potential vulnerability and urged affected projects to update to a patched version of the code. The issue was discovered by Charlie Eriksen, a malware researcher at Aikido Security, who said the "backdoor" could enable a "potentially catastrophic" supply chain attack.

Cryptocurrency

▌Chiliz meets with US SEC cryptocurrency working group to discuss plans to return to the US market

Chiliz, a subsidiary of SportsFi, has met with the US Securities and Exchange Commission (SEC) to discuss investing in and re-entering the US cryptocurrency market under the leadership of the crypto-friendly White House, as well as increasing the push for transparency in digital asset regulation.

▌Bitcoin market share rises to a nearly four-year high, following a subsequent general rise in altcoins

According to TradingView data, today's Bitcoin market share (BTC.D) rose to 64.61%, a new high since February 2021. The high market share of Bitcoin shows the silence of the altcoin market, but it also means that a bottoming out is coming. According to previous historical data, when the market share of Bitcoin reached 60% in November last year, altcoins started a small bull market. In 2019 and 2021, the market share of Bitcoin reached a high of 70%, followed by a magnificent general rise.

▌Cantor will work with SoftBank and Tether to establish a $3 billion crypto joint venture

According to FT, three people familiar with the matter revealed that Brandon Lutnick, son of US Secretary of Commerce Howard Lutnick, is working with SoftBank, Tether and Bitfinex to build a multi-billion dollar Bitcoin acquisition platform. The platform raised $200 million in January and will use the funds to create a new company called 21 Capital, which will obtain $3 billion worth of Bitcoin from other investors and companies. Tether will contribute $1.5 billion in Bitcoin, while SoftBank and Bitfinex will contribute $900 million and $600 million, respectively.

▌Unicoin Rejects SEC's Enforcement Investigation Settlement Request

Unicoin CEO Alex Konanykhin revealed in a letter to investors on Tuesday that Unicoin has rejected the U.S. Securities and Exchange Commission's (SEC) attempt to negotiate a settlement to end its investigation of the Miami-based cryptocurrency company.

The SEC issued a Wells Notice to Unicoin in December last year, indicating that it may take enforcement action for alleged securities violations. Unicoin's CEO claims that the SEC's actions have severely damaged the company's financial prospects.

▌US listed company DeFi Dev Corp increased its holdings of SOL worth $11.5 million

US listed company DeFi Development Corporation (formerly Janover Inc.) announced that it had increased its holdings of 88,164 Solana (SOL), worth approximately $11.5 million. After this purchase, the company's total Solana holdings increased to 251,842, worth approximately $34.4 million (including staking rewards). It is reported that Janover is an artificial intelligence platform that connects the commercial real estate industry and announced today that it would be renamed DeFi Development Corporation.

Important Economic Dynamics

▌Trump: No intention to fire Powell, calls on the Federal Reserve to cut interest rates

U.S. President Trump said at the swearing-in ceremony of SEC Chairman Atkins on Tuesday local time that he had no intention of firing Federal Reserve Chairman Powell, although he was disappointed that the Federal Reserve did not cut interest rates faster. "Never," Trump told reporters, "The media always makes a mess of things. I'm not going to fire him. I'd like to see him be more aggressive on the idea of ​​lowering interest rates." Trump said, "Grocery prices have gone down, everything is going down. The only thing that hasn't gone down but hasn't gone up much is interest rates." Trump said, "We think the Fed should lower interest rates, and now is a perfect time. We hope our chairman can (cut interest rates) early or on time, not late." Trump also said that the stock market has risen well.

▌Musk: Will "substantially" withdraw from DOGE work in May

Tesla CEO Elon Musk said that he expects to spend a lot less time on the Department of Government Efficiency (DOGE) in May, and will devote more time to Tesla. I will spend "one or two days" a week on the Department of Government Efficiency as long as the president is willing. I have received some opposition for my work involving the Department of Government Efficiency; the department has made some progress in addressing waste and fraud. Those who have received wasteful funds are attacking me and my business. It is the right decision to continue working with the Department of Government Efficiency. The work of the Department of Government Efficiency is "basically completed."

▌Trump: The huge trade losses caused by the Biden administration will be gone forever

US President Trump said that in the last year of Biden's term, we lost $5 billion a day, and what they did on trade was a disaster. Now, this number has been greatly reduced because we have received a 25% tariff from the automotive industry, and a 25% tariff from the steel and aluminum industries, and the basic tariff is 10%. We have lost almost $2 trillion in trade. But those days are over, and we will not let them happen again. We will not allow that to happen again.

▌The probability of the Federal Reserve keeping interest rates unchanged in May has dropped to 91.7%

According to CME's "Fed Watch": The probability of the Federal Reserve keeping interest rates unchanged in May is 91.7%, and the probability of a 25 basis point rate cut is 8.3%. The probability that the Fed will keep interest rates unchanged by June is 32.8%, the probability of a cumulative interest rate cut of 25 basis points is 61.8%, and the probability of a cumulative interest rate cut of 50 basis points is 5.3%.

▌Spot gold's short-term decline widened, falling nearly 2% during the day

Spot gold's short-term decline widened, falling nearly 2% during the day, with a minimum of $3,317.07 per ounce.

▌Standard Chartered: Dismissing Powell will hurt the dollar and boost safe-haven assets

Steven Englander, a strategist at Standard Chartered Bank in New York, said that if U.S. President Trump fulfills his threat to dismiss Federal Reserve Chairman Powell, it will lead to rising inflation, weaken the dollar, and prompt funds to flow into the euro, yen and Swiss franc. “Attempting to remove Powell (or facilitate his resignation) would likely result in a significant increase in inflation, the Treasury yield curve, and real risk premiums across the board in other dollar asset markets,” he wrote in a report dated April 21. “The dollar would weaken, not in a way that would enhance competitiveness, but rather in a way that would reduce the supply of capital into the United States and exacerbate upward pressure on interest rates. The most likely beneficiaries would continue to be safe-haven currencies such as the euro, yen, and Swiss franc.”

▌Fed official Kashkari: Must ensure that tariffs do not trigger persistent inflation

Minneapolis Fed President Neel Kashkari said the Fed has a responsibility to ensure that tariffs do not trigger persistent inflation problems, echoing recent remarks by Fed Chairman Powell. "We're just not sure right now whether this is a one-time impact on inflation or a long-term impact," Kashkari said at a U.S. Chamber of Commerce event in Washington on Tuesday. "Our job at the Fed is to make sure this doesn't have a longer-term impact."

Golden Encyclopedia

▌What is Compressed NFT?

Compressed NFT is a non-fungible token (NFT) designed to reduce the cost of storing and using NFTs for transactions on the Solana blockchain. Compressed NFTs offer several key advantages that stand out in the blockchain ecosystem. They are affordable and significantly reduce minting and storage costs, allowing creators and businesses to use blockchain technology without financial barriers. In addition, cNFTs contribute to greener blockchain practices by reducing storage requirements and, therefore, energy usage. These attributes make cNFTs a potential game changer for scalable, environmentally friendly, and innovative applications.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for informational reference only and is not intended as actual investment advice. Please establish the correct investment philosophy and be sure to raise your risk awareness.