HorseTWN

#特朗普税改

Partially transcribed from the news

The Trump administration's tax reduction plan was designed by a 'Big Six' team composed of the Treasury Department, the National Economic Council (NEC), congressional leaders, and others, aiming to maintain over 3% GDP growth for the U.S. economy over the next 10 to 20 years. The following are the main tax reduction measures:

Corporate tax reduced to 15%: This allows American companies to have more funds to continue developing and enhance competitiveness.
Tips and overtime pay tax exemption: This increases disposable income for service industry and low-wage workers.
Social Security Benefits tax exemption: This alleviates the tax burden on retirees.
15% tax rate on 'Made in America' products: This encourages companies to bring production back to the U.S.

#TRUMP晚宴

On April 23, the official website for the meme coin "Trump Coin (TRUMP)" announced that on May 22, it will invite the top 220 holders to have dinner with President Trump in Washington, and claimed there would be an opportunity to hear "first-hand" information from Trump about the future of cryptocurrency.

The announcement urged participants to hold as much TRUMP coin as possible from April 23 to May 12. The average holding amount will determine the ranking, meaning the more TRUMP coins held and the longer the holding time, the higher the ranking.

The top 25 holders will also receive VIP treatment: an invitation to the President's private reception and special tours.

Thanks to the boost from this news, TRUMP coin surged by 60% at one point, and as of the time of writing, it has risen by 32%, reporting at $12.3.

$TRUMP

On April 23, the official website of the meme coin 'Trump Coin (TRUMP)' announced that on May 22, it would invite the top 220 holders to dinner with President Trump in Washington, and claimed there would be an opportunity to hear first-hand information from Trump about the future of cryptocurrency.

The announcement urged participants to hold as many TRUMP coins as possible from April 23 to May 12. The average holding amount will determine the ranking, meaning the more TRUMP coins held and the longer the holding period, the higher the rank.

The top 25 holders will also receive VIP treatment: attending the President's private reception and being arranged for a special tour.

#比特币市值排名

According to the latest data from 8marketcap, Bitcoin has surpassed Alphabet (Google) and risen to the fifth position in global asset market capitalization.

According to a report by Cryptonews, Tesla's latest financial report shows that as of the end of the first quarter, it holds Bitcoin worth $951 million, a slight decrease from $1.076 billion at the end of last year. This holding began accumulating in early 2021. According to Arkham data, Tesla did not conduct any cryptocurrency transactions this quarter and currently holds 11,509 Bitcoins.

$BTC

The Japanese investment company Metaplanet announced on Thursday that it has spent 1.926 billion yen (approximately 13.6 million USD) to increase its holdings by 145 bitcoins as part of its "Bitcoin Financial Operations" strategy, with an average purchase price of 13,280,472 yen (approximately 93,327 USD).

This is the second announcement of bitcoin accumulation by Metaplanet this week, as the company stated on Monday that it had spent 4.02 billion yen (approximately 28.23 million USD) to acquire 330 bitcoins.

As of April 24, Metaplanet holds a total of 5,000 bitcoins (valued at approximately 466 million USD). According to Metaplanet's CEO Simon Gerovich, the purchase cost of these bitcoins is about 428.1 million USD, with an average purchase price of approximately 85,621 USD. Based on the current bitcoin price of about 93,250 USD, the company's total bitcoin holdings currently have an unrealized profit of approximately 8.9%.

$ETH

Ethereum founder Vitalik Buterin's recent proposal of 'RISC-V' has attracted the attention of the crypto community and sparked debates among core ecosystem developers. For most users, it is difficult to understand how RISC-V can reform Ethereum, and what kind of progress Buterin's proposal can bring to Ethereum.

Unlike other PoS chains, Ethereum's client is composed of two parts: the 'consensus layer' and the 'execution layer.' The consensus layer is responsible for packaging staking votes, while the execution layer handles transactions. Therefore, the code that executes smart contracts is actually run by the execution layer client on node computers, which runs the code by fetching transaction broadcasts and records the results on the public ledger based on the results of the 'consensus layer' votes.

#Metaplanet增持比特币

Metaplanet stated on Twitter (X) on April 21 that it has repurchased 330 bitcoins at a price of 12,181,570 Japanese yen (approximately 85,605 USD) each, with a total purchase amount reaching 4.02 billion Japanese yen (approximately 28.2 million USD).

This is the third time Metaplanet has entered the market since April, further proving that its strategy of 'buying bitcoins on dips' is completely unaffected by short-term market sentiment.

As of April 21, Metaplanet holds a total of 4,855 bitcoins, with a total purchase amount of approximately 62.165 billion Japanese yen, and an overall average holding cost of 12,804,361 Japanese yen (approximately 89,928 USD). This makes Metaplanet:
1. The largest bitcoin corporate holder in Asia
2. The tenth largest bitcoin holding listed company in the world

#Strategy增持比特币

The American software company Strategy (formerly MicroStrategy) announced on Monday that it spent approximately $555.8 million to purchase 6,556 bitcoins during the period from April 14 to 20, with an average purchase price of about $84,785.

As of April 20, Strategy and its subsidiaries hold a total of 538,200 bitcoins, with an average purchase price of about $67,766.

In other words, Strategy now holds 2.5% of the total global supply of 21 million bitcoins.

The funds for this bitcoin purchase came from the company’s sale of 959,700 shares of MSTR, raising $285.7 million. As of April 13, Strategy still has $2.08 billion in MSTR and $20.97 billion in perpetual preferred stock STRK available for issuance.

These financing plans are part of the company’s $21 billion stock issuance plan and $21 billion fixed income securities issuance plan, aiming to raise $42 billion over the next three years to continue purchasing more bitcoins.

$TRX

Tron TRX is a cutting-edge decentralized blockchain platform developed by the Tron Foundation, which has become a powerful system for content creators and developers. Originally based on Ethereum's ERC-20 token, Tron transitioned to its native blockchain in 2018, aiming to achieve decentralization of the web and providing creators with complete ownership of their digital content. Tron emphasizes rewarding content creators directly, bypassing intermediaries like YouTube, Facebook, and Apple.

The architecture of Tron revolves around three key layers: storage layer, application layer, and core layer. Its Delegated Proof of Stake (DPoS) system provides an energy-efficient consensus mechanism, enabling Tron to process up to 2,000 transactions per second without incurring costs. Tron's smart contracts are flexible and can be written in languages such as Solidity and Java.

#波场ETF

The American asset management company Canary Capital has submitted an application to launch an ETF (Exchange-Traded Fund) that includes the native token TRX of the TRON blockchain network. According to the application documents, the fund plans to hold TRX for immediate trading and engage in partial token staking to generate additional income. Considering that the total market capitalization of TRX exceeds $22 billion, staking TRX can yield approximately 4.5% annually.

Canary's application stands out among many competing cryptocurrency ETF proposals because it applied for cryptocurrency staking permissions from the outset. Meanwhile, other U.S. ETFs, such as those for Ethereum, have only applied for staking after listing and are still awaiting decisions from regulatory authorities.

TRON is a proof-of-stake blockchain network founded by Justin Sun, who also owns Rainberry, the company that developed the BitTorrent protocol. In March 2023, the Securities and Exchange Commission charged Justin Sun with manipulating the prices of TRON tokens and BitTorrent tokens. By February, both parties had requested to delay the lawsuit for settlement negotiations.

#特朗普施压鲍威尔

BlockBeats news, on April 19, Trump reiterated during a speech at the White House on the 18th local time that Federal Reserve Chairman Powell should lower interest rates. Trump has been pressuring Powell to cut rates for two consecutive days.

According to reports from U.S. media, due to Powell's repeated refusal to lower interest rates, Trump has been privately discussing 'firing' him for months. White House economic advisor Hassett stated on Friday when asked if replacing Powell was an option that Trump and his team would continue to study the matter.

The Fed's regular meeting last week announced that interest rates would remain unchanged, in line with external expectations. Although the Fed has traditionally made independent decisions, Trump still expressed at a Cabinet meeting on the 24th, 'I want to see the Fed lower interest rates.' He emphasized that food and energy prices are declining.

Trump stated: 'This is just my opinion, as prices are falling. We have controlled inflation. Tariffs will soon bring in a lot of revenue.'

$ETH

According to Etherscan's Gas Tracker, the main trading activities on Ethereum are primarily DeFi operations like USDT, Uniswap, and Aave lending, but the overall Gas usage has significantly declined, indicating a weakening demand for on-chain transactions.

Overall observation shows that Ethereum is currently facing multiple pressures, including a decline in price, a decrease in market capitalization share, a broken technical structure, and sluggish on-chain activity. Although ETH is still seen as the leader in the smart contract domain in the long term, if market confidence cannot be regained, its dream of 'flipping Bitcoin' may become increasingly distant.

The market capitalization ratio of ETH relative to BTC (ETH/BTC ratio) has gradually weakened since its peak in 2017, and recently it has clearly broken below a long-term upward support line, symbolizing that the expectation of 'Flippening' (Ethereum surpassing Bitcoin's market cap) over the past several years is entering a winter.

$SOL

SOL is the native token of the Solana blockchain and is the core of the Solana ecosystem. SOL can be used to pay for gas fees, execute smart contracts, and can also be staked to run nodes for transaction validation and earning rewards, as well as participating in community governance voting. SOL consistently ranks within the top ten globally.

The Solana blockchain offers a faster, cheaper, and more environmentally friendly blockchain option, providing developers with a choice that balances scalability (the ability to grow continuously) and efficiency (the ability to transmit the most information with the least resources). Currently, Solana has good applications in DeFi, GameFi, NFTs, payments, and DAOs.

Since its successful launch in 2020, Solana has been hailed as "the world's fastest high-performance public blockchain." Solana aims to solve three major pain points: Ethereum's network congestion, high transaction fees, and slow transaction speeds, which is why it is referred to as the "Ethereum killer" by the cryptocurrency community.

#加拿大推出SolanaETF

In the turbulent cryptocurrency market of 2025, Solana stands under the global spotlight. On one hand, Canada has officially approved the world's first Solana spot ETF and opened up staking features, causing the price of SOL to rebound nearly 20% within a week; on the other hand, the first Layer 2 blockchain project in the Solana ecosystem, Solaxy ($SOLX), is currently undergoing a heated presale, attracting over 30 million USD in a short period, shocking the entire blockchain community.

These two major pieces of news not only bring unprecedented bullish fundamentals to Solana but also signify its further expansion in application fields such as DeFi, NFTs, and meme coins.

Solana ETF approval opens up staking, and SOL market sentiment is high.

#比特币与美国关税政策

The high computing power in the United States represents a strong demand for cryptocurrency mining machines, but the U.S. is not a major producer of these machines; instead, they are primarily obtained through imports. Therefore, in the cryptocurrency mining ecosystem, the main upstream suppliers affected directly by tariff policies are those involved in raw material supply, assembly, and sales of mining machines. Among these, raw material supply includes chips, materials, and other components. As a major component of mining machines, chips mainly come from Samsung in South Korea and TSMC in Taiwan, while related materials are primarily supplied by manufacturers in China and Southeast Asia. Regarding the assembly of mining machines, due to factors like labor costs, China and Southeast Asia undertake the vast majority of the assembly work because of their cheap and abundant labor force. However, these countries and regions are all listed as areas subject to reciprocal tariffs, with tariffs from Cambodia, Laos, Vietnam, and others approaching 50%. Such enormous tariffs will create a lose-lose situation for U.S. cryptocurrency miners and mining machine manufacturers: on one hand, tariffs will directly increase the import prices of mining machines, compressing the market for manufacturers in the U.S. and weakening their profitability in this major market. For an already slowing mining machine manufacturing industry, this is akin to another heavy and lasting blow. On the other hand, these tariff costs will also be passed on to U.S. cryptocurrency miners, significantly increasing their operating pressure. Especially considering that since Bitcoin prices have continued to decline from the peak of $100,000, various cryptocurrencies have consistently dropped in value, and the profit margins for different cryptocurrency miners have already significantly decreased. If mining machine prices rise, some miners may face situations where their expenses exceed their income, forcing them to shut down their mining operations. Furthermore, if the number of miners, as blockchain nodes, decreases excessively, the efficiency and security of the blockchain will also be threatened, fundamentally negatively impacting the entire cryptocurrency industry.

Excerpt from the Automatic District News

$BTC

On April 15, news broke that Japanese medical service company SBC Medical Group Holdings announced the completion of purchasing 5 BTC (approximately 60 million yen/400,000 USD) as of April 14, 2025, based on the Bitcoin purchase decision announcement disclosed on February 12, 2025. Previously, in February, SBC Medical announced plans to purchase Bitcoin worth 1 billion yen (approximately 6.7 million USD) to achieve long-term strategic goals of asset diversification and combating inflation, expected to be completed between February and May 2025.

#美国半导体关税

After the Trump administration offered a temporary tariff exemption for the tech industry over the weekend, the U.S. Federal Register website today published a notice seeking public comments on the initiation of a Section 232 investigation regarding the semiconductor industry.

The notice is expected to go live on the 16th of U.S. time, but the text states that the Department of Commerce has already begun the investigation on April 1.

The text states that the Secretary of Commerce has initiated an investigation under the Trade Expansion Act Section 232 on April 1, 2025, to determine the impact of imports of semiconductors, semiconductor manufacturing equipment, and their derivative products on national security.

According to the announcement, the scope of the investigation is extremely broad, including 'semiconductor substrates and bare wafers, traditional chips, advanced chips, microelectronic devices, surface-mounted equipment (SME) components. Derivative products include downstream products containing semiconductors, such as products that make up the supply chain for electronic products.'

#风险回报比

The risk/reward ratio is an indicator that compares the potential profit of a trade to its potential loss.

To calculate the risk/reward ratio, you need to divide the difference between the entry point of the trade and the stop-loss order (risk) by the difference between the entry point of the trade and the profit target (reward).

The risk/reward ratio should be used alongside other risk management ratios to assess whether a trade has good risk.

Understanding the risk/reward ratio

The risk/reward ratio, also known as the R/R ratio, is a measure that compares the potential profit (reward) of a trade to its potential loss (risk).

Risk/Reward Ratio = (Entry Point - Stop-Loss Order) / (Profit Target - Entry Point)

To calculate the risk/reward ratio, you first need to determine the risk and reward.

Risk is the total potential loss determined by the stop-loss order. It is the difference between the entry point of the trade and the stop-loss order.

Reward is the total potential profit, determined by a profit target, which is the point in time when the security is sold.

#SEC加密资产证券披露指南

The U.S. Securities and Exchange Commission (SEC) issued a statement on Thursday, urging cryptocurrency companies that issue or trade tokens that may be considered securities to provide more detailed information disclosures.

This statement was released ahead of the SEC's second cryptocurrency roundtable forum, which will focus on the topic of "cryptocurrency trading". This move is part of the SEC's ongoing efforts to clarify the applicability of federal securities laws to crypto assets.

Although this statement does not have legal force, it clearly indicates that companies should specifically describe their core business content and the role and function of the tokens within their business model when making disclosures.

The SEC stated that these recommendations are based on observations of companies' past disclosure experiences and do not directly define which cryptocurrencies constitute securities, nor do they provide specific legal guidelines.

#保护你的资产

Cryptocurrency is a form of money recorded on the blockchain. Although the blockchain itself is secure as a decentralized distributed ledger, the wallets used to manage assets can be vulnerable to online attacks. Therefore, using cold wallets can provide an extra layer of protection to ensure that cryptocurrencies are not threatened by cybercrime.

In contrast to hot wallets, the main difference between the two is that hot wallets are connected to the internet, while cold wallets are not. This means that cold wallets can prevent unauthorized access, online attacks, and other vulnerabilities associated with network-connected systems.

If you are wondering under what circumstances it is advisable to use a cold wallet, the general principle for using cold wallets is: when the amount of cryptocurrency you own is significant or you cannot afford to lose your cryptocurrency, you should use a cold wallet.

If you don’t hold much cryptocurrency, it is actually unnecessary to use a cold wallet. However, if you have a large amount of cryptocurrency and store it in an online hot wallet, this is akin to carrying a large amount of cash in a crowd, which is very unsafe.

In terms of cost, cold wallets are more expensive than hot wallets (the prices of cold wallets on the market range from $79 to $255), while most hot wallets are free. Additionally, regarding usability, cold wallets require specific passwords or methods for access each time they are used, making transactions more cumbersome compared to hot wallets.

Despite this, many people are still willing to choose cold wallets for security.