Mihin METHDINU VIKRAMARACHCI sinhalage

04 April 2025Macro/TradFiPresident Trump’s “Liberation Day” tariff announcement triggered a sharp crypto selloff, with BTC and ETH down 6% and 8% on the day, as investor anxiety mounts. The policy includes a 10% baseline tariff starting April 5, with reciprocal tariffs — some over 50% — set to follow on April 9.VanEck appears to be preparing for a potential BNB ETF launch, having registered a trust company in Delaware, according to the state’s official records.Fidelity Investments has launched a crypto-enabled individual retirement account (IRA) through its Web3 arm, Fidelity Digital Assets, allowing investment in Bitcoin, Ether, and Litecoin.Strategy has purchased 22,048 BTC for US$1.92B between March 24 and 30 at an average price of US$86,969 per Bitcoin, bringing its total holdings to 528,185 BTC, according to an SEC filing.GameStop has raised US$1.5B through a private convertible note offering, with plans to use the funds to purchase Bitcoin.Metaplanet has acquired 696 BTC for US$67.9M, followed by an additional 160 BTC for US$13.3M just a day later — bringing its total holdings to 4,206 BTC.In his annual letter, BlackRock CEO Larry Fink warned that unchecked U.S. debt could threaten the dollar’s reserve currency status, potentially ceding ground to digital assets like Bitcoin. He also highlighted tokenization as a transformative force for global investing.BlackRock has received approval from the UK’s Financial Conduct Authority to operate as a crypto asset firm, officially joining the FCA’s crypto asset register.Mastercard is building a blockchain network to bridge traditional finance and crypto, securing key partnerships and expanding its digital asset infrastructure.CryptoL1/L2:Ethereum developers have scheduled May 7, 2025, for the long-anticipated Pectra upgrade — the blockchain's most significant update since March 2024.DeFi:Uniswap DAO has preliminarily approved a US$113M Treasury Delegation program to boost governance participation, potentially allocating 18 million UNI tokens to 12 selected delegates.Others:PayPal has expanded its U.S. crypto services to include Solana and Chainlink, now allowing users to buy, sell, hold, and transfer their native tokens for the first time.American Bitcoin, a Trump-backed mining firm, plans to go public to create two sister publicly traded entities under one vertically integrated company — merging infrastructure and crypto operations.Block CEO Jack Dorsey has confirmed that the company is actively working to enable BTC payments on its Square terminals.Latest Binance Research Publications Check out our latest publications:Navigating Crypto: Industry MapWhere Are Our Airdrops Going?The Future of Bitcoin #4: DeFiThat’s a wrap!Binance ResearchAbout Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.General Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, cryptocurrencies or to adopt any investment strategy. The use of terminology and the views expressed are intended to promote understanding and the responsible development of the sector and should not be interpreted as definitive legal views or those of Binance. The opinions expressed are as of the date shown above and are the opinions of the writer, they may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by Binance Research to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Binance. This material may contain ’forward looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, cryptocurrencies or any investment strategy nor shall any securities or cryptocurrency be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Investment involves risks.

The Trump family continues to deepen its engagement with crypto.

US President Trump’s sons, Donald Jr and Eric, announced they will form a company, American Bitcoin Corp, in partnership with Hut 8, one of the largest publicly traded Bitcoin mining companies.

The company will operate as a subsidiary of Hut 8.

The plan adds to the Trump family’s crypto empire even as Trump’s administration plans a regulatory and legislative overhaul of the industry.

While experts say the unprecedented situation raises clear conflict of interest concerns, the Trump suite of businesses includes memecoins, a DeFi app, NFTs, and Truth.Fi, which plans to manage crypto in accounts for clients with the help of brokerage Charles Schwab.

American Bitcoin was formed in a roundabout way.

First, there was the establishment of American Data Centers by Eric and Donald Jr Trump, established as a subsidiary of the wealth management firm Dominari Holdings.

Hut 8 then donated all of its mining hardware to American Data Centers in order to acquire a majority interest in American Data Centers.

At which point, American Data Centers became American Bitcoin, replacing the “Compute” segment of Hut 8’s business.

The unusual structure confused some market watchers.

“I don’t fully understand the rationale of selling 61,000 miners in exchange for an 80% stake in a subsidiary that they previously owned 100% of,” Matthew Sigel, head of digital assets research for Van Eck, wrote on X.

American Bitcoin will mainly focus on bitcoin mining while building a strategic bitcoin reserve.

The company will be led by CEO Matt Prusak, with Eric Trump serving as the chief strategy officer. Donald Trump Jr does not have a listed executive role.

The company wrote that Hut 8 is combining its expertise in computation with “Eric Trump’s commercial acumen, capital markets expertise, and commitment to the advancement of decentralized financial systems.”

“This transaction represents substantive progress in Dominari’s effort to create shareholder value,” wrote Dominari CEO Anthony Hayes.

Hut 8 stock rose 1.6% on the news. Dominari Holdings fell amid a broader stock market selloff on Monday.

Hut 8 did not respond to a DL News request for comment about why it would carve out the mining segment of its business in order to partner with Eric and Donald Jr on American Bitcoin.

American Bitcoin’s main competitors in the Bitcoin mining space remain Marathon Digital, Riot Platforms, and CleanSpark.

Andrew Flanagan is a markets correspondent for DL News. Have a tip? Reach out to [email protected].