Daily Market Report (May 23, 2025, 20:10)
ChainDD's market report on May 23 shows that the comprehensive Dede index and CoinMarketCap quotes:
BTC is priced at $111,416.61, up approximately 1.28% in the last 24 hours;
ETH is priced at $2,702.79, up approximately 4.18% in the last 24 hours;
BNB is priced at $690.01, up approximately 1.11% in the last 24 hours;
DOGE is priced at $0.2506, up approximately 4.49% in the last 24 hours;
SOL is priced at $184.41, up approximately 5.84%.
Crypto Market Dynamics
Trump: Proposes to impose a 50% tariff on the EU starting June 1.
U.S. President Trump stated on social media that the main purpose of the European Union's establishment is to take advantage of the U.S. in trade, but the EU is difficult to deal with. Their strong trade barriers, value-added tax, absurd corporate penalties, non-monetary trade barriers, currency manipulation, and unfair and unreasonable lawsuits against U.S. companies have led to an annual trade deficit exceeding $2.5 billion, which is completely unacceptable. Our discussions with them have made no progress. Therefore, I propose to impose a 50% tariff on the EU starting June 1, 2025. No tariffs will be applied to products manufactured or produced in the U.S.
Zhao Changpeng responds to WSJ reports, calling them 'deliberate fabrications, non-journalistic behavior.'
Binance founder Zhao Changpeng (CZ) responded on the X platform to recent reports by the Wall Street Journal regarding his involvement in the World Liberty Financial project, stating that it is not a genuine interview, but a 'malicious fabrication under the guise of questioning,' questioning that it has become a 'megaphone for negative narratives.'
Zhao Changpeng cited 'Cunningham's Law' to point out that the WSJ intended to induce clarification by constructing erroneous narratives, violating journalistic ethics. He emphasized that the inquiries submitted by the WSJ were filled with 'false and negative assumptions,' such as accusing him of 'brokering' for the WLF team and arranging a meeting with Pakistani officials Saqib, whereas the fact is that his first meeting with Saqib was in Pakistan, and he had never been involved in any international itinerary of WLF.
He bluntly stated, 'When reporting starts from a negative stance, so-called 'corrections' are meaningless because the whole story itself is fabricated.' He believes that this incident reflects 'certain American forces' attempts to suppress the development of the crypto industry, targeting global crypto leaders and governments that support cryptocurrency.
Sui urgently launched the whitelist feature yesterday to prepare for the recovery of funds from hackers.
Crypto KOL @0x_Todd stated that yesterday Sui urgently launched a whitelist feature, allowing any transactions on the whitelist to bypass all security checks (including signature count, permissions, blacklisted objects, etc.). If funds need to be recovered or returned in the future, the authorities can pre-construct a specific 'rescue transaction,' which can bypass all checks for a one-time execution even if it has been locked by the blacklist.
Several major American banks plan to jointly launch a stablecoin, with progress depending on the legislative process.
Major U.S. commercial banks including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are in preliminary discussions to jointly launch a stablecoin. Institutions participating in the discussions include The Clearing House, co-owned by several banks, and Early Warning Services LLC, the company behind Zelle.
The stablecoin project is still in its early stages, and progress will heavily rely on the upcoming stablecoin legislation in the U.S. (National Innovation and Stablecoin Establishment Act) (GENIUS Act) has gained bipartisan support, requiring stablecoins to be fully backed by U.S. dollars or other highly liquid assets, and stipulating that issuers with a market value exceeding $50 billion must undergo annual audits, while clarifying terms related to overseas issuance.
However, before the bill reaches its final vote, some Democratic lawmakers have called for further examination of Trump's relationship with crypto projects. Reports indicate that Trump and his son have been accused of being associated with the World Liberty Financial project, which issues the USD1 stablecoin.
The Chairman of the China-Britain Business Council calls on the U.S. government: act rationally, step out of the tariff war quagmire.
The Global Trade and Investment Promotion Summit 2025 will be held in Beijing. Sir Geoffrey Clifton-Brown, Chairman of the China-Britain Business Council, gave an interview on-site. Sir Geoffrey expressed his sincere hope that the U.S. government could listen to the market's voice, act rationally, and negotiate amicably to step out of the current tariff war quagmire.
