US SEC postpones series of spot ETFs; Trump: Tariffs may be higher than 25%

Headline

▌The U.S. SEC Delays Approval of Grayscale Spot Cardano ETF

The U.S. Securities and Exchange Commission (SEC) has delayed approval of Grayscale Spot Cardano (ADA) ETF.

▌The U.S. SEC Delays Approval of Canary Spot XRP ETF

The U.S. Securities and Exchange Commission (SEC) has delayed approval of Canary Spot XRP ETF.

▌The U.S. SEC Delays Approval of Canary Spot Solana ETF

The U.S. Securities and Exchange Commission (SEC) has delayed approval of Canary Spot Solana ETF.

▌The U.S. SEC Delays Approval of Canary Spot LTC ETF

The U.S. Securities and Exchange Commission (SEC) has delayed approval of Canary Spot Litecoin ETF.

▌Trump tells CEOs: Tariffs could be higher than 25%

U.S. President Donald Trump told CEOs of large companies on Tuesday that new tariffs could be higher than 25%. "Tariffs are having a huge positive impact," Trump said at the Business Roundtable, dismissing the stock market reaction. He said tariffs could be higher than 25%, and the higher the tariffs, the more likely they are to build factories in the United States. He also defended Musk, who is leading the White House's efforts to shrink the federal government. Trump said: “We had some small problems, not big problems, but we saved a lot of money.”

Market

As of press time, according to Coingecko data:

BTC recently traded at $82,758.00, up or down by +5.8% on the day;

ETH recently traded at $1,916.61, up or down by +2.8% on the day;

BNB recently traded at $550.38, up or down by +4.0%；

SOL's latest transaction price is 125.26 US dollars, and its intraday increase or decrease is +6.4%；

DOGE's latest transaction price is 0.1647 US dollars, and its intraday increase or decrease is +6.8%；

XPR's latest transaction price is 2.18 US dollars, and its intraday increase or decrease is +7.8%。

Policy

▌U.S. House of Representatives Passes Bill to Repeal IRS DeFi Broker Rules

The U.S. House of Representatives voted on Tuesday to repeal the IRS DeFi Broker Rules, exempting centralized crypto exchanges (DeFi) from reporting sales proceeds and transaction dates, with 292 votes in favor and 132 votes against.

Blockchain Applications

▌Solana's SIMD-228 Upgrade Now Passed

The vote on Solana's SIMD-228 upgrade has reached a quorum, with 71.85% of people voting in favor. The proposal can reduce the SOL inflation rate by 80%. The vote will last until the end of epoch-755 and has now passed.

Cryptocurrency

▌BNY Mellon executives call for a clear regulatory framework for stablecoins

At a recent U.S. Congressional hearing, Caroline Butler, global head of digital assets at BNY Mellon, stressed that traditional financial institutions have provided important services to stablecoin issuers such as Circle (USDC), but the industry urgently needs the U.S. government to provide a clear regulatory framework. Butler said: "It is critical for the ecosystem to ensure that custodian banks protect customer assets in accordance with federal regulations, which is the basis for building market trust." She also pointed out that traditional financial institutions want to participate in emerging areas such as stablecoins and blockchain technology to meet the changing needs of the market and customers.  

At the hearing, Guynn, a well-known Wall Street bank compliance lawyer, also said that if the stablecoin issuer holds sufficient liquid asset reserves and capital buffers in accordance with the requirements of the STABLE Act and has no significant liabilities, its payment stablecoins should be as safe as bank deposits and central bank currencies.

▌Cynthia Lummis: The Bitcoin Act can help the United States solve the national debt

U.S. Senator Cynthia Lummis said today, "The Bitcoin Act is a solution to our national debt problem and the future of American prosperity."

▌Bitcoin Magazine CEO: The implementation of the strategic Bitcoin reserve executive order is much stricter than market expectations

Bitcoin Magazine CEO David Bailey wrote on X that the implementation of the strategic Bitcoin reserve executive order is much stricter than market expectations-the timetable is detailed to days and weeks, not months or years, and managers are acting quickly.

▌Michael Saylor posted a message "Big things are coming", suggesting that news related to Bitcoin may be announced

Strategy founder Michael Saylor posted a message on X, "₿ig things are coming." The first letter of the word "₿ig" is a Bitcoin-related symbol, suggesting that news related to Bitcoin may be announced.

▌Standard Chartered Bank analyst: Bitcoin's recent decline is related to the overall weakness of risk assets, and it is still bullish to $200,000 in the long term

Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said that Bitcoin's recent price fluctuations are consistent with the performance of risk assets such as the "Big Seven in the U.S. Stock Market", rather than a problem with the cryptocurrency itself. He pointed out that the decline of Bitcoin was mainly affected by the overall market sentiment, and the future rebound may rely on two major catalysts: the overall recovery of risk assets or good news about Bitcoin (such as sovereign purchases by the United States or other countries). If the Fed quickly turns to rate cuts (such as the probability of a rate cut in May rising from 50% to 75%), it may drive a rebound in Bitcoin; but if the downward trend continues, Bitcoin may fall below $76,500 and test the $69,000 support level. Despite the short-term pressure, Kendrick remains optimistic about the long-term prospects of Bitcoin, predicting it will reach $200,000 by the end of 2025. He emphasized that the current market volatility increases the possibility of a rate cut by the Federal Reserve, further consolidating his long-term bullish view. At the same time, Trump's tariff policy and the Federal Reserve's interest rate decisions will continue to affect market sentiment, bringing uncertainty to Bitcoin's trend.

Important Economic Dynamics

▌BlackRock CEO: US nationalist policies will push up inflation, and the market underestimates inflation

At the CERAWeek conference, BlackRock CEO Larry Fink said that US nationalist policies (such as expelling workers) will push up inflation, and the market underestimates inflation. Costs will rise further in the next 6 to 9 months, such as large-scale expulsions that may affect agricultural labor. He also warned the Trump team that the construction of AI data centers will face a shortage of electricians.

▌The Wall Street Journal: Trump team tends to recommend Bowman as vice chairman of the Federal Reserve for supervision

According to the Wall Street Journal, citing sources, US President Trump's advisory team tends to recommend Bowman, a member of the Federal Reserve Board, as vice chairman in charge of bank supervision. After Trump took office in January, Barr resigned as vice chairman of the Federal Reserve in charge of bank supervision and only retained his position as a director. Trump has not nominated a successor, and the position has been vacant. Some Republican lawmakers have been recommending Republican Bowman for the position, and Trump advisers also support the idea. Trump said in an interview on Sunday that the relevant nominees will be announced in the near future.

Golden Encyclopedia

▌What is a multi-signature cold wallet?

A cold wallet is a method of storing cryptocurrency that remains offline and disconnected from the internet. This setup makes it more difficult for hackers to access funds remotely. Examples include: hardware wallets (e.g. Ledger, Trezor), paper wallets, isolated computers (devices that have never been connected to the internet).

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