华尔街日报

#华尔街日报 【Bitcoin surges 20%! Trump and Wall Street team up to do something big?】
"Witness history!" This line of words was flooding the screen of investors who recently opened the cryptocurrency app. Bitcoin has soared from a low of $75,000 in April to $95,000, with a daily trading volume exceeding $50 billion. Even the most experienced traders on Wall Street exclaimed: "This is not a bull market, this is a rocket launch!"

1. Trump’s shocking reversal
Remember Trump, who criticized Bitcoin as a "scam" in 2019? Now he is the top financier in the cryptocurrency circle! The executive order signed on March 6 directly turned the US government into a "big Bitcoin hoarder". Not only did it announce that it would hold 200,000 Bitcoins and never sell them, it also threatened to make the United States the "global cryptocurrency capital". This wave of operations directly caused Bitcoin to rise to $90,000 in the short term. Although it subsequently fell back to $86,500 due to policy details not meeting expectations, the market has already smelled something different.

Recently, hedge funds and short sellers on Wall Street have truly been suffering! The U.S. stock market seems to have suddenly 'activated' and has surged for nine consecutive trading days, leaving those investors who haven't yet positioned themselves stunned, exclaiming, 'I haven't even boarded the train yet?'

A similar plot is playing out in the cryptocurrency circle. Short sellers have been harshly 'educated' by the market, with no ability to fight back, as the market continues to rise strongly despite declining volume. Moreover, there have been continuous good news lately, and it seems that every rise has its reasons.
Yesterday, the U.S. non-farm payroll data was strong and met market expectations. The impressive economic data boosted the dollar and provided strong support for the rebound in U.S. stocks. However, this has also cooled market expectations for a rate cut by the Federal Reserve. The interest rate decision on May 8 is highly anticipated, and the likelihood of a rate cut in June seems to be decreasing.

Yesterday, a rumor about the Trump family possibly acquiring shares in Binance.US spread in the market. The incident was triggered by (The Wall Street Journal) reporting that the Trump family was in discussions with the Binance.US subsidiary to buy shares so that the Binance.US branch could resume operations in the U.S.

This report quickly sparked widespread attention in the community, especially considering that the Trump family previously issued the DeFi project World Liberty Financial (WLFI), leading many to believe that the Trump family wanting to get involved in the exchange business does not seem surprising.

According to the Wall Street Journal on April 12, citing anonymous sources, former Binance CEO Zhao Changpeng (CZ) secretly agreed to assist prosecutors in investigating Tron founder Justin Sun as part of a plea agreement with the U.S. Department of Justice. This news immediately triggered strong reactions from two industry giants.
However, just before the report was published, CZ had already warned on social media X that he had learned that the Wall Street Journal was preparing "another baseless attack article." After the report came out, he directly retorted: "The Wall Street Journal is really trying to smear me. But they seem to have forgotten who went to prison and who didn't."