Trump: Suspend tariffs, $587 million worth of positions have been liquidated in the past 24 hours

Headlines

▌Trump: Suspending 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 trading partners for 90 days because people are "a little scared." Trump also told reporters that he believes there is a "fair deal" between the United States and all countries. The stock market is performing well. The record performance of the stock market should continue.

▌US$587 million in liquidation across the entire network in the past 24 hours

According to Coinglass data, US$587 million in liquidation across the entire network in the past 24 hours, of which US$213 million in long positions were liquidated and US$374 million in short positions were liquidated.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $82,970.81, with a daily increase or decrease of +8.5%;

ETH's latest transaction price is $1,661.15, with a daily increase or decrease of +12.8%;

BNB's latest transaction price is $582.23, with a daily increase or decrease of +5.3%；

SOL's latest transaction price is 118.70 US dollars, and the intraday increase and decrease is +12.9%；

DOGE's latest transaction price is 0.1607 US dollars, and the intraday increase and decrease is +13.0%；

XPR's latest transaction price is 2.05 US dollars, and the intraday increase and decrease is +14.4%。

Policy

▌US House Hearing Pushes Forward on Crypto Market Regulation Bill

The US House of Representatives held a hearing to discuss legislation on cryptocurrency market structure, marking an important step forward for the bill. Lawmakers debated a regulatory framework for digital assets aimed at establishing clear rules for cryptocurrency exchanges and token issuance. The hearing paves the way for final legislation that could change the regulatory landscape of the US crypto industry. Supporters of the bill believe it will bring more certainty and investor protection to the market.

▌New York State Assemblyman Introduces Blockchain Technology to Protect Election Systems Act

New York State Assemblyman Clyde Vanel introduced Assembly Bill 7716 on April 8, 2025, proposing to use blockchain technology to protect voter records and election results. The bill has been referred to the Election Law Committee for review and requires the New York State Election Commission to work with the Office of Information Technology Services to submit a research report within one year after the bill takes effect. The move is intended to explore how the immutability and auditability of blockchain technology can enhance the security of the election system.

Blockchain Applications

▌Ripple announces the integration of stablecoin RLUSD into payment solution Ripple Payments

According to official news, Ripple announced that Ripple USD (RLUSD) has been integrated into Ripple's payment solution Ripple Payments to further promote the utility and demand of enterprises for this asset, including cross-border payment providers BKK Forex and iSend will directly use RLUSD. In addition, as a US dollar-denominated enterprise-level stablecoin, RLUSD has a market value of nearly US$250 million and a transaction volume of approximately US$10 billion.

Cryptocurrency

▌The rapid growth of tokenized funds comes with danger signals

Credit rating agency Moody's pointed out in a report on Wednesday that although the tokenization of funds is booming, the serious risks that come with it cannot be ignored by investors. Cristiano Ventricelli, vice president and senior analyst at Moody's Ratings, said that when evaluating tokenized funds, investors need to weigh their benefits against the risks brought by underlying technology, security, scalability and regulatory changes. Moody's mentioned that many fund managers are inexperienced in the early stages of the development of the tokenization market, with small teams and short performance, and there is a key person risk, that is, over-reliance on a few individuals. The departure of key executives or weak governance structure will shake the stability of the fund, so it urges fund teams to disperse responsibilities and strengthen risk management. Blockchain interruption is another risk that stems from the novelty of the technology. Although smart contracts can improve operational efficiency, they are vulnerable to coding defects or malicious attacks.

▌Pakistan plans to use some of its surplus electricity for Bitcoin mining

Bilal Bin Saqib, CEO of the Pakistan Cryptocurrency Commission, said Pakistan plans to allocate some of its surplus electricity to Bitcoin mining and artificial intelligence data centers, adding that it has held talks with several Bitcoin mining companies and that the specific location of mining will be determined based on the excess power supply in a specific area.

▌Bitcoin may repeat the crash-rebound pattern of 2020

According to CoinShares analysts, Bitcoin's current trend may repeat the crash-rebound pattern of 2020. Under the geopolitical impact caused by the tariff dispute, Bitcoin has fallen 30% from its high in late January, and net inflows into exchange-traded funds (ETFs) have fallen 10% from their peak. Analysts say that despite current macroeconomic pressures and bearish technical signals, this downward trend is similar to 2020, when a deep correction was followed by a strong rebound driven by a shift in monetary policy and investor optimism. Analysts believe that while the current challenges are different from those during the COVID crisis, the fundamental dynamics are strikingly similar.

Important Economic Dynamics

▌Expectations of Fed rate cuts have fallen sharply

According to CME's "Fed Watch": The probability of the Fed keeping interest rates unchanged in May is 76.1%, and the probability of a 25 basis point rate cut is 23.9%. The probability of the Fed keeping interest rates unchanged by June is 32.1%, the probability of a cumulative 25 basis point rate cut is 54.1%, and the probability of a cumulative 50 basis point rate cut is 13.8%.

▌Fed Kashkari: If the tariff suspension continues, the inflationary impact is expected to weaken

Fed Kashkari: There was a dramatic change this afternoon. If the tariff suspension continues, the inflationary impact is expected to weaken. Tariffs may lead to inflation, and we need to monitor. The threshold for interest rate cuts remains high. The Fed prefers not to intervene in the market.

▌The three major U.S. stock indexes closed up collectively, and the Nasdaq recorded the largest single-day increase since 2001

The three major U.S. stock indexes closed up collectively. The Dow closed up 7.87%, the largest single-day increase since March 24, 2020. The S&P 500 closed up 9.52%, the largest single-day increase since October 28, 2008. The Nasdaq closed up 12.16%, the largest one-day gain since January 3, 2001, and the second largest gain in history. The Russell 2000 index closed up 8.66%, the largest one-day gain since March 24, 2020. Large technology stocks rose sharply, with Tesla up more than 22%, Nvidia up more than 18%, Apple up more than 15%, Meta up more than 14%, Amazon up more than 11%, Microsoft up more than 10%, and Google up more than 9%.

▌Federal Reserve Minutes: The U.S. Economy Faces Risks of High Inflation and Low Growth

Federal Reserve policymakers almost unanimously agreed at their meeting last month that the U.S. economy faces the risk of rising inflation and slowing growth at the same time, and some policymakers pointed out that the Fed may face a "difficult trade-off." The March 18-19 meeting came after the Trump administration's initial tariff plans increased uncertainty about the economic outlook and led participants to favor a "cautious approach" that could choose to keep interest rates higher for longer if inflation persists or to cut rates if the weak economy requires more immediate attention. "Participants assessed that uncertainty about the economic outlook had increased, and almost all participants viewed that risks to inflation were tilted to the upside and risks to employment were tilted to the downside."

Golden Encyclopedia

▌What is an address poisoning attack in cryptocurrency?

Address poisoning attacks are malicious means used by attackers to reroute traffic, interrupt services, or gain unauthorized access to sensitive data by inserting false data or changing routing tables. These attacks exploit flaws in network protocols and seriously threaten data integrity and network security.

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