Headline
▌Trump: Substantial tax cuts will be implemented
US President Trump said that substantial tax cuts will be implemented.
▌Ethereum mainnet will implement Pectra upgrade on May 7
Tim Beiko, head of protocol support at the Ethereum Foundation, said in a post that the Pectra upgrade will be launched on the mainnet on May 7, with an estimated epoch height of 364032.
Pectra is reported to have introduced EIP-7702, which allows standard Ethereum accounts (EOAs) to expand smart contract functions and support use cases such as batch transactions, Gas sponsorship or social recovery; for stakers, Pectra introduced the function of increasing the validator's effective balance.
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, with a daily increase or decrease of +9.1%;
DOGE's latest transaction price is $0.1792, with a daily increase or decrease of +12.8%;
XPR's latest transaction price is $2.22, with a daily increase or decrease of +6.7%.
Policy
▌Texas House of Representatives holds public hearing on Bitcoin Reserve Bill SB 21
According to Bitcoin Laws, the Texas House of Representatives Government Efficiency Delivery Committee has just held a public hearing on the Bitcoin Reserve Bill SB 21. The current status of the bill is "pending", which means that the final vote of the committee has not yet been held.
▌Trump signs executive order to promote artificial intelligence into the classroom
On Wednesday, local time, US President Trump signed an executive order aimed at incorporating artificial intelligence (AI) into American classrooms. Although the specific text of the executive order has not yet been released, a draft copy obtained by The Washington Post shows that the executive order requires the training of students' AI application capabilities and promotes schools to cooperate with enterprises to implement relevant teaching plans. The order will instruct Education Secretary Linda McMahon to prioritize the use of federal funds to train teachers and administrators on how to apply AI and incorporate it into all subject teaching. According to the report, the US government will set up an artificial intelligence education working group to encourage federal agencies to work with the private sector with the goal of teaching students "basic artificial intelligence literacy and critical thinking skills."
▌Russia will launch a cryptocurrency exchange for qualified investors
The Central Bank of Russia and the Ministry of Finance will set up a cryptocurrency exchange for "highly qualified investors", which will operate "as part of the operation allowed by the experimental legal mechanism." “This will legitimize crypto assets and bring crypto operations out of the shadows,” said Finance Minister Anton Siluanov. The mechanism reportedly applies to individuals with “investments in securities and deposits exceeding 100 million rubles, or income exceeding 50 million rubles in the previous year.” The central bank said the move is aimed at “improving transparency in the cryptocurrency market, developing service standards, and expanding investment opportunities for high-risk investors.”
Blockchain Applications
▌Bitcoin Rollup Project Citrea Launches Clementine Bridge on Testnet to Solve Bottlenecks in Using BTC in DeFi
The Bitcoin Rollup Project Citrea has deployed the Clementine bridge on the Bitcoin testnet, using the BitVM2 programming language, which aims to introduce Bitcoin (BTC) into the DeFi environment by providing a trust-minimized approach. Citrea said that “secure bridging between Bitcoin and second-layer protocols has always been a bottleneck for using BTC in a programmable environment.” Clementine solves this problem by allowing multiple withdrawals to use a single collateral. In addition, Clementine uses the BitVM2 version, which has upgraded operations, and any participant can challenge suspicious transactions.
▌Ethereum Pectra upgrade will introduce the function of increasing the valid balance of validators
Ethereum core developer timbeiko.eth posted on the X platform that for pledgers, Pectra will introduce the function of increasing the valid balance of validators. This means that small operators can directly pledge value-added, while large operators can integrate validators to reduce the bandwidth usage of p2p networks. The function also eliminates the PoW follow-up distance before the merger, shortens the delay in processing validator deposits, and introduces withdrawals that can be triggered by the execution layer, thereby achieving a more trustless equity structure.
As previously reported, the Ethereum mainnet will implement the Pectra upgrade on May 7.
Cryptocurrency
▌TRUMP MEME: Trump's "TRUMP DINNER" dinner will be held in Washington on May 22
TRUMP MEME officially disclosed that Trump's "TRUMP DINNER" dinner will be held in Washington on May 22 at the Trump National Golf Club in Washington, DC. The first 220 TRUMP token holders will be invited, and the top 25 token holders will enjoy a private VIP reception with Trump and a special VIP tour of the White House the next day. All participants must pass a background check and conduct KYC and compliance checks on their wallets. Guests are prohibited (only registered personnel can attend), and once the attendance information is submitted, it cannot be changed. The dinner is arranged by Fight Fight Fight LLC. Trump will attend the dinner as a guest and will not raise any funds.
▌TRUMP's first batch of unlocked tokens and the daily release of the following three months will be locked for an additional 90 days
TRUMP's first batch of unlocked tokens and the daily release of the following three months will be locked for an additional 90 days.
The market shows that TRUMP has exceeded $11 and is now at $11.29, with a 24-hour increase of 23.7%. The market fluctuates greatly, so please do a good job of risk control.
It was previously reported that Trump will hold a "TRUMP DINNER" dinner for TRUMP token holders. It is reported that the participants will be the top 220 holders of the token.
▌Berachain Ecological Protocol Infrared Launches Points Program
Infrared Finance announced the launch of a points program to encourage user participation, and stated that "points will be converted into Infrared tokens expected to be launched in the third quarter." Infrared said the plan includes "retroactive rewards for early users" and users can earn points by "contributing to the liquidity proof treasury", "providing liquidity for key trading pairs on DEXs such as Kodiak and BEX", and "staking iBGT and iBERA". Points "have no fixed total amount and will be dynamically allocated based on eligible activities" and can be "viewed in real time in the dashboard."
▌US listed company DeFi Development Corp increased its holdings worth $9.9 million SOL
According to the official announcement, US listed company DeFi Development Corp (JNVR), formerly known as Janover, has injected another $9.9 million of Solana SOL into its corporate treasury, bringing its total cryptocurrency holdings to 317,273 SOL, or about $48 million.
Important Economic Dynamics
▌After California, 11 more U.S. states sued the Trump administration for abusing tariff policies as "illegal"
On April 23rd local time, New York, Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, New Mexico, Oregon and Vermont filed a lawsuit in the U.S. Court of International Trade, trying to stop the implementation of the Trump administration's tariff policy and seek a court declaration that its new tariff policy is illegal. Earlier, California Governor Gavin Newsom announced on the 16th local time that he would sue the Trump administration over tariffs, accusing the latter of abusing tariff policies as "illegal". This is the first U.S. state government to challenge Trump's tariff "stick".
▌Trump plans to exempt automakers from some tariffs
According to the Financial Times, US President Trump plans to exempt automakers from some of the most stringent tariffs, another concession in the trade war following recent intensive lobbying by auto industry executives. According to two people familiar with the matter, the move will exempt auto parts from two tariffs, one on some imported goods to combat fentanyl production, and the other on steel and aluminum products. However, Trump's 25% tariff on all imported vehicles will remain. Another 25% tariff on auto parts will also be retained and will take effect from May 3. Although the United States has previously excluded automotive products from the "reciprocal" tariffs on major trading partners, American auto companies are still seeking more exemptions in the near future. These concessions will mark an initial victory for the auto industry and another retreat by Trump on his most aggressive tariffs. People familiar with the matter said that the current negotiations are mainly focused on simplifying the tax collection process, such as relaxing the rules of origin requirements for auto parts. This policy adjustment reflects that while maintaining the core position of the "America First" trade policy, the Trump administration is responding pragmatically to pressure from specific industries.
▌Canadian Prime Minister: Will firmly resist Trump's tariff policy
On the 23rd local time, Canadian Prime Minister Carney said at a campaign event in Victoria, British Columbia that US President Trump is disrupting the global market and fundamentally reshaping the international trade system. On the issue of Canada, Trump's attitude is more direct and aggressive. Carney said that Trump "wants to defeat us so that the United States can control us." Carney said that in the face of these threats to Canada's lifestyle, economy and sovereignty, he has plans to fight, protect and build. Carney promised that the government he leads will firmly resist US President Trump's tariff policy, while creating new jobs, reducing taxes for the middle class, and building a strong Canada. In addition, Carney also said that he looks forward to a comprehensive discussion with Trump and hopes that the meeting will be face-to-face.
▌Trump warns: Tax hikes on the rich will trigger a "rich exodus"
President Trump told reporters in the Oval Office on Wednesday that higher taxes on millionaires would spur the richest Americans to leave the country, downplaying an idea being discussed in some Republican circles as a way to pay for an economic plan. "I think it would be very destructive because millionaires would leave the country," Trump said. "Other countries that have done this have lost a lot of rich people. It's bad because the rich are paying taxes." Trump's remarks could pour cold water on discussions about establishing a new 40% tax rate for those who make $1 million or more a year. Some Republican members of both the House and Senate have said they are willing to tax high earners to help pay for other parts of Trump's agenda, which includes proposals to end taxes on tips and overtime.
▌Source: The US side made it clear in the talks held earlier this month that Japan cannot be given special tariff treatment
According to the Japan Broadcasting Association, citing multiple Japanese government sources, the US side made it clear in the talks held earlier this month that Japan cannot be given special tariff treatment.
▌Federal Reserve Hammack: There must be a very high threshold for the Fed to intervene in the market
Federal Reserve Hammack: There must be a very high threshold for the Fed to intervene in the market. The Fed's job is not to tell the market what the right price is.
▌The probability of the Fed keeping interest rates unchanged in May is 94.6%
According to CME's "Fed Watch": The probability of the Fed keeping interest rates unchanged in May is 94.6%, and the probability of a 25 basis point rate cut is 5.4%. The probability of the Fed keeping interest rates unchanged by June is 41.2%, the probability of a cumulative 25 basis point rate cut is 55.8%, and the probability of a cumulative 50 basis point rate cut is 3.1%.
Golden Encyclopedia
▌What is Compressed NFT?
Compressed NFT is a non-fungible token (NFT) designed to reduce the cost of storing and transacting with NFTs on the Solana blockchain. Compressed NFTs offer several key advantages that stand out in the blockchain ecosystem. They are affordable and significantly reduce the cost of minting and storage, enabling 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 cNFT a potential game changer for scalability, environmental protection, and innovative applications.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish the correct investment concept and be sure to increase risk awareness.
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