Tariff policy wins support from appeals court; Powell discusses economic development with the president

Headline

▌US Appeals Court Allows Trump Tariffs to Stay in Effect Temporarily

On Thursday, a federal appeals court suspended a ruling by a group of judges that forced Trump to suspend several tariffs imposed on international trading partners. The U.S. Court of Appeals for the Federal Circuit said in a brief ruling: "The judgments and permanent injunctions issued by the Court of International Trade in these cases will be temporarily suspended until further notice, while this court considers whether the rulings should be suspended for a longer period of time." The decision postponed the lower court's ruling until at least June 9, when both sides will submit legal arguments on whether the case should be suspended and the appeals court will weigh the issues in the case. In yesterday's ruling, the judges of the U.S. Court of International Trade determined that the International Emergency Economic Powers Act, which Trump cited in his multiple executive orders, did not "grant the president unlimited tariff powers."

▌Powell meets with Trump to discuss economic development

According to the official announcement of the Federal Reserve, at the invitation of the US President, Federal Reserve Chairman Powell met with Trump at the White House today to discuss issues related to economic development, including economic growth, employment and inflation. Chairman Powell did not express specific expectations for the outlook for monetary policy, but only emphasized that the policy path will depend entirely on future economic data and its impact on the economic outlook. Finally, Powell said that he and his colleagues on the Federal Open Market Committee (FOMC) will formulate monetary policy in accordance with the law to support maximum employment and price stability, and all decisions will be based on prudent, objective and politically unaffected analysis.

Market

As of press time, according to Coingecko data:

BTC price is $105,734, up or down -1.9% in 24 hours;
ETH price is $2,633.45, up or down -1.6% in 24 hours;
BNB price is $675.15, up or down -1.8% in 24 hours;
SOL price is $166.84, up or down -3.4%;
DOGE price is $0.2158, 24-hour ups and downs -3.4%;
XRP price is $2.25, 24-hour ups and downs -1.0%.

Policy

▌The U.S. SEC clarifies that three types of equity pledge activities do not constitute securities issuance and sales

The U.S. Securities and Exchange Commission (SEC) Corporate Finance Division issued a statement on May 29 stating that "equity pledge activities" in the PoS network do not involve securities issuance and sales within the meaning of Section 2(a)(1) of the Securities Act of 1933 or Section 3(a)(10) of the Securities Exchange Act of 1934. Individuals and entities engaging in such activities are not required to register with the SEC for such transactions, nor are they required to apply for registration exemptions. The statement covers three types of protocol staking: (1) "self-staking" where node operators pledge their own crypto assets; (2) "self-custodial staking" where asset holders use third-party node operators; and (3) "custodial arrangements" where custodians lend crypto assets on behalf of clients and stake them. The statement document emphasizes that "staking rewards are a return on the services provided by the PoS network to validators in accordance with its underlying protocol, rather than profits from the entrepreneurial or management efforts of others."

▌US House Republicans introduce the "Clarity Act for Digital Asset Markets" to establish CFTC's regulatory dominance

US House Republicans have formally proposed their latest version of the digital asset market regulation bill, the "Clarity Act for Digital Asset Markets," which aims to "establish a regulatory structure for digital asset markets, which has been the industry's call for many years." The bill is seen as the successor to the previous "Financial Innovation and Technology Act" and is promoted by Republican leaders on the House Financial Services Committee and the Agriculture Committee. Dusty Johnson, a South Dakota Republican and chairman of the Agriculture Subcommittee, said: "The United States should be a leader in the global digital asset market, but to do so, a clear regulatory framework must be established." The bill gives the Commodity Futures Trading Commission (CFTC) "exclusive regulatory jurisdiction" over the spot market for digital commodities, and establishes a system where crypto platforms can choose to register with the CFTC or the Securities and Exchange Commission (SEC) depending on the nature of the digital commodities or securities they trade. The bill also includes: requiring crypto platforms to be regulated by the Bank Secrecy Act; exempting some DeFi operations and wallet providers from SEC regulation; prohibiting future regulatory attempts to require custodians to record customer assets on their own balance sheets; and granting partial transaction supervision of payment stablecoins to existing relevant regulators. In addition, the bill requires the CFTC to define the standards for "qualified digital asset custodians" and requires the SEC, CFTC and Treasury to submit a research report on DeFi within one year. If the bill is passed, all regulatory rules will take effect within one year.

Blockchain Applications

▌Uniswap Foundation provides $235,000 in funding to the cross-chain LP migration protocol ChainHopper development team

The Uniswap Foundation announced that it will provide funding to the cross-chain LP migration protocol ChainHopper development team, which will support one-click migration of Uniswap liquidity providers (LP) positions to different EVM chains, and will help migrate liquidity to Unichain and the upcoming Uniswap v4. Currently, if users want to transfer LP positions from one chain to another, they must go through multiple tedious steps: remove liquidity, bridge each token across chains separately, wait for confirmation, and then rebuild the position on the target chain. To help users manage LP positions more efficiently, the Uniswap Foundation has provided Melio with a $235,000 grant to develop the ChainHopper protocol. Currently, the protocol is available on the Ethereum mainnet, Unichain, Base, Arbitrum and Optimism.

▌Tether CEO says the company holds more than 100,000 bitcoins and more than 50 tons of gold

Tether CEO Paolo Ardoino showed a slide at the Bitcoin 2025 conference, saying that the stablecoin issuer currently holds more than 100,000 bitcoins and more than 50 tons of gold. Ardoino said, "Gold is not competing with Bitcoin, but with fiat currencies."

Cryptocurrency

▌Data: Whales have bought more than 20,000 bitcoins in the past 48 hours

According to on-chain analyst @ali_charts, whales have bought more than 20,000 bitcoins in the past 48 hours.

▌SOL Strategies increased its holdings by 26,478 SOL tokens at an average price of $177.5

SOL Strategies, the “SOL version of MicroStrategy”, announced that it had acquired 26,478 SOL tokens for $4.7 million on May 26, with an average price of $177.5 per SOL.

Important Economic Dynamics

▌U.S. Treasury Secretary Bessant: Several major agreements are about to be reached

U.S. Treasury Secretary Bessant: The President has the power to set the U.S. trade agenda. Trading partners are working with us in good faith, and there has been no change in their attitudes in the past 48 hours. Several major agreements are about to be reached. We are receiving a lot of revenue from tariff revenues, and the federal budget deficit this year will be smaller than last year.

Golden Encyclopedia

▌What are Ethereum Futures ETFs and how do they work?

Ethereum Futures ETFs are investment funds that track Ethereum futures contracts rather than Ethereum itself.

Consider a contract that promises to buy Ethereum at a specific price at a certain time in the future. These derivative contracts are traded through Ethereum (ETH) Futures Exchange Traded Funds (ETFs), providing a regulated way to invest in Ethereum using a brokerage account.

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