币世界中本聪 Satoshi Nakamoto

The U.S. May PPI month-on-month recorded 0.1%, lower than the expected 0.20%; the May PPI year-on-year recorded 2.6%, matching the expected value of 2.6%. The May core PPI month-on-month recorded 0.1%, lower than the expected 0.30%; the May core PPI year-on-year recorded 3%, lower than the expected 3.1%. Trump said: 'Powell is a fool, suggesting the Federal Reserve cut rates by 200 basis points. I will not fire Federal Reserve chief Powell; he just needs to lower the rates. The inflation data is performing well, and the U.S. has a large amount of short-term debt. If rates are lowered, it means less interest to pay.'
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US May CPI data fell short of expectations across the board. Data released on Wednesday showed: May CPI annual rate at 2.4%, below the expected value of 2.50%, higher than the previous value of 2.30%; Core CPI annual rate at 2.8%, below the expected value of 2.90%, unchanged from the previous value of 2.80%. After the data was released, the market increased bets on rate cuts beginning in September, generally expecting two rate cuts this year. Trump stated: The Federal Reserve should cut rates by 100 basis points, which would significantly reduce the interest on maturing debt, it's too important.
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Reporter Eleanor Terrett stated: The US CLARITY Act (Digital Asset Market Clarity Act) has passed the Financial Services Committee with 32 votes in favor and 19 votes against. The bill will next be submitted to the House of Representatives for a full vote. The US Federal Appeals Court suspended a ruling that blocked Trump's tariff powers, meaning that Trump's tariff measures may still remain in effect during the appeal process. The appellate court approved an expedited review of Trump's tariff powers, with a hearing scheduled for July 31. The US Securities and Exchange Commission (SEC) announced the initiation of procedures to review the Bitwise BTC and ETH mixed ETF listing application submitted by the NYSE. On June 11, Musk tweeted: "I regret some of the posts about Trump made last week, as they were excessive." Yesterday, Trump stated: "I haven't thought about talking to Musk, I guess Musk might want to talk to me now." The UK Insolvency Service has appointed its first dedicated cryptocurrency expert to help recover more funds for the UK economy through bankruptcy cases. Société Générale–Forge, a crypto subsidiary of Société Générale, announced the launch of a dollar-pegged stablecoin on the ETH and Solana blockchains.

Trump stated: The appointment results for the next Federal Reserve head will be announced soon, and he has a fairly clear understanding of the candidate. A good Federal Reserve head will cut interest rates. Citigroup expects the Federal Reserve to cut interest rates by 75 basis points this year, with cuts of 25 basis points in September, October, and December; and 50 basis points in January and March 2026.
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Reporter Eleanor Terrett stated that an alternative amendment to the U.S. digital asset market clarity bill (CLARITY Act) has been released. This alternative amendment is an updated version of the submitted bill, containing recent amendments and new content. This text will serve as the basis for the Republican members of the House Financial Services Committee in the U.S. House of Representatives (for review and revision) this Tuesday. Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated: The underlying asset of stablecoins is fiat currency, which can later be used for payment functions in electronic asset form through technologies such as blockchain. Stablecoin issuers are regulated by the Hong Kong Monetary Authority, and the principles of regulation are similar to those of traditional financial assets. Relevant issuers must comply with regulations regarding reserve asset management and redemption, and when stablecoin holders request redemption, it must be completed within one business day to meet user demands. U.S. Republican Congressman Tim Burchett proposed HR 3798, aimed at establishing a national strategic BTC reserve in the U.S. and writing it into federal law. The U.K. Financial Conduct Authority (FCA) stated that it will lift the ban on cryptocurrency exchange-traded notes (ETNs) to support growth and competitiveness in the U.K. European BTC reserve company The Blockchain Group stated that it has signed a €300 million capital increase agreement with asset management firm TOBAM, aiming to accelerate its BTC reserve company strategy.

Data released on Friday shows: the US unemployment rate in May is 4.2%, matching the expected value of 4.20%, unchanged from the previous value of 4.20%. The non-farm payrolls for May are 139,000, higher than the expected value of 130,000, and the previous value was revised from 177,000 to 147,000. The market expects the Fed to cut rates twice this year in September and December. Trump stated: 'Mr. Too Late' Powell of the Fed is a disaster! Europe has cut rates 10 times, while the US has not done it once.
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Reporter Eleanor Terrett stated: A DeFi roundtable hosted by the SEC will be held next Monday, and on Tuesday, the House will hold a nomination hearing on the cryptocurrency market structure bill (CLARITY Act). The US Senate confirmed that Fed Governor Michelle Bowman has been promoted to deputy supervisor of regulation, giving her a voice in both banking access for cryptocurrencies and stablecoin issuance. The banking sector has long been a pain point for the cryptocurrency industry; previously, the Fed and the other two major banking regulatory agencies took a highly cautious approach to the cryptocurrency field but lifted previous restrictions on banks providing services to the cryptocurrency industry in April this year. El Salvador President Nayib Bukele held talks with White House digital asset policy advisor Bo Hines, discussing cooperation between the US and El Salvador in the fields of BTC and digital assets. Uber CEO Dara Khosrowshahi stated: They are considering using stablecoins to reduce operating costs and believe that the development of stablecoins is very promising, especially for global companies. On June 6th, the cryptocurrency fear and greed index was 45 (down from 57 yesterday), indicating that market sentiment has dropped into the fear zone.

On Monday, U.S. stock indices opened, with the Nasdaq rising 0.11% during the session, the S&P 500 decreasing 0.1%, and the Dow Jones falling 0.35%. Gold increased by 2.6% to $3,376 per ounce. Federal Reserve Governor Waller stated that the prospects for interest rate cuts depend on the slowing of inflation and whether tariff measures remain in the lower range, and the “good news” is that rate cuts may still be possible later this year.
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On May 29, 2025, the U.S. Securities and Exchange Commission (SEC) Division of Corporate Finance issued a statement clarifying that three types of staking activities on proof-of-stake (PoS) networks do not constitute securities offerings and sales under the Securities Act of 1933 and the Securities Exchange Act of 1934. The three types of staking forms covered include staking of node operators' own assets, self-custodied staking, and staking by custodial institutions on behalf of clients. New York City Comptroller Brad Lander dismissed Mayor Eric Adams' proposal to issue BTC-backed municipal bonds. Brad Lander, along with the Mayor's Office of Management and Budget, is responsible for bond issuance, stating that New York City will not issue BTC-backed bonds during his tenure, as the stability of cryptocurrencies is insufficient to fund the city's infrastructure, affordable housing, or schools. At the ETHGlobal Prague conference, ETH founder Vitalik stated that ETH plans to increase its L1 scale by approximately tenfold within a year, then take a “breather” before the next leap. Japanese listed company Metaplanet CEO Simon Gerovich stated that he acquired 1,088 BTC for about $117.3 million, bringing his total holdings to 8,888 BTC. El Salvador recently increased its holdings by 8 BTC over the past week, bringing its total to 6,194.18 BTC.

Data released on Friday showed: The U.S. April PCE price index was 2.1%, lower than the previous value of 2.3% and the expected value of 2.2%; the April core PCE price index was 2.5%, lower than the previous value of 2.7% but in line with the expected value of 2.5%, reaching a new low since March 2021. Fed's Daly stated that if the labor market remains strong and inflation declines, it would be reasonable to have two rate cuts this year. Fed's Goolsbee stated that if tariffs could be avoided through agreements or other means, it might return to a situation where rate cuts could be possible.
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The Republican Party in the U.S. House of Representatives proposed a crypto market structure bill, namely the (Digital Asset Market Clarity Act), which gives the U.S. Commodity Futures Trading Commission (CFTC) primary regulatory authority over the digital commodity spot market, while requiring crypto platforms to choose registration with the CFTC or the U.S. Securities and Exchange Commission (SEC) based on the type of trading assets. The bill excludes certain DeFi projects and wallet providers from SEC regulation; prohibits custodial institutions from listing client assets on their own balance sheets; and clarifies that payment stablecoins do not fall under the category of securities. The Hong Kong government published the (Stablecoin Regulation) in the official gazette, meaning that the (Stablecoin Regulation) officially becomes law, further improving the regulatory framework for digital asset activities in Hong Kong. The Hong Kong Legislative Council officially passed the ordinance draft on May 21 to establish a licensing system for fiat-backed stablecoin issuers in Hong Kong. New York City Mayor Eric Adams called for the abolition of the BitLicense crypto licensing system issued by the New York State Department of Financial Services (NYDFS) at the Bitcoin 2025 conference and proposed the idea of issuing BTC municipal bonds called 'BitBond'. Australia's Monochrome spot BTC ETF has reached a position of 666 BTC, valued at 111.5 million Australian dollars.

Trump has changed his mind again, restoring the 90-day tariff window with the EU and has agreed to extend the deadline to July 9. Last week, Trump announced plans to impose a 50% tariff on the EU starting June 1. On Monday, the U.S. stock indexes were closed, with the Nasdaq futures rising by 1.5% and the S&P 500 index rising by 1.2%, while the dollar index fell by 0.1%.
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Hester Peirce, head of the SEC's cryptocurrency working group, stated that she supports issuing further guidelines to determine which activities fall outside of the jurisdiction of securities laws, such as clearly involving direct participation in PoS and DPoS systems, as well as providing technical services that assist people in participating in these consensus mechanisms. The SEC's past regulatory approach has failed to effectively prevent fraud, instead causing confusion among compliant operators. This statement is seen as positive news for institutional participation in staking in the U.S. Musk stated that he has returned to a 7×24 work schedule, highly focused on X/xAI and Tesla, as key technologies are being launched. U.S. Treasury Secretary Basant: The sovereign wealth fund plan has been paused until all other matters are resolved. Data from asset management company Bitwise shows that in 2025, U.S. and other companies' BTC purchases have exceeded three times the new supply of BTC, with companies accumulating a total of 205,507 BTC this year, while the new supply of BTC is 64,556 BTC, only including the increases disclosed by listed companies. Fundraising Digest data shows that there were 7 large financing deals last week, with the largest financing amount being $135 million for Worldcoin. U.S. listed company Semler Scientific increased its holdings by 455 BTC from May 13 to May 22, bringing total holdings to 4,264 BTC.

On Friday, Trump spoke again, suggesting a direct 50% tariff on the EU starting June 1, and the European Commission stated it would not comment on the new U.S. tariff developments. The Nasdaq fell by 1% during trading, the S&P 500 index dropped by 0.7%, and the dollar index fell to 99.2 points, a decrease of 0.7%; gold surged to $3,360 per ounce, an increase of 2%.
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The U.S. Senate voted to pass the "motion to terminate debate" to formally review the (GENIUS Stablecoin Bill), which will now enter a comprehensive review process. David Sacks, the White House's cryptocurrency and AI director, stated that the stablecoin bill will unlock trillions of dollars for the U.S. Treasury. Texas has passed the strategic BTC reserve bill SB 21, which has now been submitted to the governor's office for signing. Texas Governor Greg Abbott published an article titled "Texas Promotes the Establishment of Strategic BTC Reserves: A New Era for State Finance," praising the strategic BTC reserves (SBR). French Hill, the head of the U.S. House Financial Services Committee, has scheduled the review date for the House cryptocurrency market structure bill for June 10. Bloomberg ETF analyst James Seyffart indicated that the SEC has delayed its decision on the XRP and LTC spot ETFs and postponed the resolution on Fidelity's physical BTC redemption, as well as the decision on 21Shares' staking plan for the spot ETH ETF. Coinmarketcap data shows that the altcoin season index is currently at 27, having previously dropped to 22 on May 17. This index indicates that, over the past 90 days, approximately 27 of the top 100 cryptocurrencies by market capitalization have outperformed BTC, and it is used to determine whether the current cryptocurrency market is in an altcoin-dominated season.

On Wednesday, U.S. stock indices opened, with the Nasdaq down 1% during trading, the S&P 500 down 1.2%, and the Dow Jones down 1.7%. The yield on 30-year U.S. Treasury bonds rose to 5.06%, and the dollar index fell below 100 to 99.4, a decline of 0.6%. Gold rose 0.6% to $3310/ounce. Dalio believes that to respond to U.S. Treasury depreciation, the Federal Reserve may use money printing to pay off debt.
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Paul S. Atkins, head of the U.S. Securities and Exchange Commission (SEC), stated at a House hearing that he would prioritize promoting SEC's regulatory transparency and accountability mechanisms, especially in the digital asset space. He emphasized that the SEC should conduct a strict cost-benefit analysis when formulating rules to avoid adversely impacting market innovation due to excessive regulation. The SEC will strengthen cooperation with Congress to establish a reasonable regulatory framework for the crypto asset market, ensuring that its regulatory activities align with legislative intent and taking a prudent approach to digital asset regulation to avoid hindering technological progress. The Texas strategic BTC reserve bill SB 21 passed its second reading in the House. The process after the second reading is: third reading vote (final passage by the House) → sent to the Senate (third reading process repeats) → if there are inconsistencies between the two versions, mediation and amendment will occur → finally sent to the governor for signing and enactment. The U.S. Senate voted to advance the 'motion to terminate debate' on the (GENIUS Act) for formal consideration. The bill will now enter a comprehensive review process and move into the debate and amendment phase in the Senate. David Sacks, the White House's cryptocurrency and AI director, commented that the (GENIUS stablecoin bill) passing through the Senate procedural motion represents a significant advancement in creating a legal framework for stablecoins, and the bill will now enter the Senate's full voting stage.

Moody's downgraded the U.S. sovereign credit rating from Aaa to Aa1, with the outlook adjusted to 'stable.' S&P downgraded the U.S. rating from AAA to AA+ in 2011. Fitch downgraded the U.S. rating from AAA to AA+ in August 2023, with an outlook of 'stable.' The U.S. has lost all AAA top ratings from the three major credit rating agencies. Federal Reserve's Williams stated that inflation has been slowly and gradually declining, tariffs may push up inflation and U.S. unemployment rates, and the outlook will become clearer after June and July.
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U.S. Senators Bill Hagerty and Kirsten Gillibrand stated that legislation for U.S. regulation of stablecoin issuers (GENIUS Act) may enter the debate and passage phase this week. Bo Hines, Executive Director of the President's Digital Asset Advisory Committee, indicated that the main purpose of the (GENIUS Act) is to safeguard the future of U.S. finance, modernize the outdated payment systems in the U.S., and digital asset technology represents the next generation of the financial system, with the U.S. ready for this transformation. The New York Federal Reserve and the Bank for International Settlements (BIS) jointly released a research report, Project Pine, testing the feasibility of implementing monetary policy through smart contracts in tokenized financial markets. The report pointed out that smart contracts have the capability to quickly deploy and adjust monetary policy tools, providing flexibility and efficiency for future central bank policy execution in tokenized financial systems, but also emphasized the need to pay attention to interoperability, data standards, and potential operational risks. The Washington Post reported that no media or photography equipment was allowed at the TRUMP dinner held on May 22. The U.S. House group approved the Trump tax cut bill in preparation for a possible vote this week. Last Thursday, Trump's comprehensive tax bill faced obstacles in Congress.

U.S. financial data shows that the PPI annual rate in April was 2.4%, lower than the expected value of 2.5% and lower than the previous value of 2.7%. The monthly rate of retail sales in April was 0.1%, significantly lower than the previous value of 1.5%. This week, the U.S. CPI and PPI inflation were lower than expected, easing market concerns about inflation. The market currently expects the Federal Reserve to cut interest rates at least twice this year to prevent a recession, and the latest economic data reinforces this expectation.
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U.S. Senator John Thune formally submitted a motion to end debate on the (GENIUS Act), which is scheduled for a vote on May 19. If the bill is passed, it will become the first federal legislative framework for stablecoins in the United States. The amendments include explicit prohibitions on the abuse of FDIC insurance and strengthening bankruptcy protection provisions. The results of this vote will directly affect the direction of U.S. regulation in the field of digital assets. Bo Hines, executive director of the U.S. President's Digital Asset Advisory Committee, said that Trump is expected to sign the Stablecoin and Market Structure Act before the August congressional recess, although the details are still being adjusted. (New York Times) reported that the U.S. Securities and Exchange Commission SEC is investigating whether CB has falsely reported the number of users in past disclosure documents. The investigation focuses on the indicator that CB claims to have more than 100 million certified users in securities filings and promotional materials. CNBC reported that CoreWeave, an AI infrastructure company backed by Nvidia, reached a $4 billion cooperation agreement with OpenAI. Bitcoin Magazine reporter Vivek reported that the California Pension Fund System has purchased $276 million worth of MicroStrategy shares. The Wisconsin Investment Board has sold its $321 million BTC ETF holdings, according to SEC documents.

Data shows: The U.S. CPI in April is 2.3%, lower than the expected value of 2.40%, and lower than the previous value of 2.40%, marking a new low since February 2021. The core CPI for April recorded 2.8%, unchanged from expectations and the previous value, maintaining the lowest level since March 2021. The S&P 500 index has erased its losses for the year to date, rising 20% from the low in April, with 20% interpreted as a technical bull-bear boundary.
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Paul Atkins, head of the U.S. Securities and Exchange Commission (SEC), stated that the commission will use its existing rule-making, interpretation, and exemption powers to set appropriate standards for market participants. Custody rules may need to be updated to allow funds and advisors to participate in self-custody under specific conditions. The SEC may consider whether to provide exemptive relief for participants wishing to bring new products to market that may be incompatible with the current commission rules and regulations. New York City Mayor Eric Adams announced that the city will work with financial firms to advance cryptocurrency-related initiatives, focusing on the long-term value of these technologies rather than chasing trends. New York City welcomes companies in the cryptocurrency, blockchain, Web3, or fintech sectors to do business; a crypto summit will be held on May 20. Arizona Governor Katie Hobbs signed a regulatory bill targeting cryptocurrency ATMs, with HB 2387 establishing strict regulations for cryptocurrency ATMs, including requiring operators to display multilingual fraud warnings, setting daily transaction limits, providing 24/7 customer support, and complying with anti-money laundering protocols. The SEC is seeking comments on BlackRock's BTC ETF physical redemption and has postponed Grayscale's SOL and LTC ETF proposals. Coindesk reported that cryptocurrency and stock brokerage eToro raised approximately $310 million in its initial public offering (IPO) in the U.S., with the company valued at $4.2 billion. The IPO is led by Goldman Sachs and is expected to list on the NASDAQ.

This week's Federal Reserve rate decision will maintain the benchmark interest rate at 4.25%-4.50%. Powell stated that the current uncertainty requires the Fed to continue to wait; the economy is in a robust state, uncertainty is very high, and the Fed can act quickly at its discretion as events unfold. Trump has publicly criticized the Fed over 12 times this year, demanding an immediate rate cut. Trump stated that conversations with Fed Chair Powell are like 'talking to a wall'; he knows nothing and is always too late.
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The US Senate voted 48 to 49 against the (Stablecoin Innovation and Security Act) (GENIUS Act). This bill aimed to establish the first regulatory framework for the issuance of stablecoins (digital tokens pegged to fiat currencies like the US dollar) in the US. US Treasury Secretary Yellen harshly criticized the Senate's decision to block the progress of the (GENIUS Act), stating that the Senate failed to advance the (GENIUS Act), missing the opportunity to provide leadership in this area. For stablecoins and other digital assets to thrive globally, the US needs leadership; senators blocking US innovation must either step up to lead global competitiveness or watch digital asset innovation flow overseas. Establishing a complete market structure becomes an industry model; the demand for digital assets in US Treasury bonds could reach $2 trillion. The Office of the Comptroller of the Currency (OCC) issued Interpretation Letter 1184, confirming that national banks and federal savings associations can buy and sell custodial assets according to customer instructions and are allowed to outsource bank-permitted crypto asset activities (including custody and execution services) to third parties, provided they comply with appropriate third-party risk management standards. (The Wall Street Journal) reported that a Cb executive stated they would acquire the options platform Deribit for $2.9 billion.

At 2 a.m. Thursday, the Federal Reserve released its latest interest rate decision, with the market expecting interest rates to remain unchanged at 4.25 - 4.5%. On Wednesday evening, U.S. stock indices showed the Nasdaq index down 0.3% intraday, the S&P 500 index up 0.13%, and the Dow Jones index up 0.6%. Gold prices increased by 2.87% on Monday, 2.9% on Tuesday, and fell by 1.2% on Wednesday to 3386 USD/ounce.
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The Federal Reserve is expected to announce its interest rate decision at 2 a.m. Thursday. CME FedWatch data shows that the probability of a 25 basis point rate cut in May is only 3.1%, while the probability of maintaining rates is 96.9%. French Hill, head of the U.S. House Financial Services Committee, released a discussion draft of a regulatory framework for digital assets, aiming to establish a regulatory framework for digital assets in the U.S. FOX Business reporter Eleanor Terrett stated that the main points of the draft include: requiring digital asset developers to disclose key project information; providing a financing pathway under SEC rules, and allowing registration with the Commodity Futures Trading Commission (CFTC); clarifying the division of responsibilities between the SEC and CFTC, and establishing a clear registration process. UK Economic Secretary Emma Reynolds stated that the UK will not follow the U.S. in establishing a national cryptocurrency reserve. The Swiss central bank president stated that the price volatility of cryptocurrencies is too extreme to serve as foreign exchange reserves to preserve value. U.S. Senator Chris Murphy stated that he will propose the (MEME Act), prohibiting the president or members of Congress from issuing Meme coins, and indicated that he will work with Congressman Sam Liccardo to promote legislation to curb such behavior.

On Monday, U.S. stock indices opened, with the Nasdaq slightly up 0.06%, the S&P 500 index rising 0.2%, and the Dow Jones index up 0.5%. Morgan Stanley stated that uncertainty surrounding U.S. tariffs, especially repeated changes, has led capital to shift to non-U.S. assets. This Thursday, the Bank of Japan will announce its interest rate decision, with the market expecting 0.5%, the same as the previous value.
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TheBlock reported that two bills (Arizona Strategic BTC Reserve Bill) passed the final vote in the House of Representatives, awaiting Governor Katie Hobbs' signature. Arizona may become the first state in the U.S. to require public funds to invest in BTC. Among them, Bill SB 1373 proposes to establish a digital asset strategic reserve fund managed by the state treasurer, with funding sources including seized assets and legislative appropriations, allowing up to 10% of the fund to be invested in BTC and other digital assets each fiscal year. Bill SB 1025 allows the state treasury and pension systems to invest up to 10% of available funds in digital assets, focusing on BTC. Currently, several states, including Iowa, Missouri, and Texas, are considering whether to establish BTC reserves. Elon Musk posted on social media that the early test version of Grok 3.5 will be released next week, exclusively for SuperGrok subscribers. Bloomberg ETF analyst James Seyffart stated that the listing date for ProShares' XRP ETF has not yet been determined. According to CoinGecko data, 100 days into Trump's presidency, the crypto market has evaporated $537 billion in market value. ETH founder Vitalik Buterin stated that the ETH Foundation (EF) has set two main goals: the primary goal is to enhance the utilization rate of ETH, particularly emphasizing user scenarios that allow real benefits from ETH's underlying properties; the second is to comprehensively enhance ETH's resilience and decentralization, focusing on identifying and addressing potential weaknesses across various layers of the tech stack.

On Monday, US stock indices opened, with the Nasdaq down 1.3% during the session, the S&P 500 down 0.9%, and the Dow Jones down 0.4%. Gold rose 0.56% to $3,335 per ounce. Key data to watch this week: On Wednesday, Q1 US GDP previous value 2.4%, expected value 0.4%, with market expectations of a significant decline; on Friday, US non-farm employment previous value 228,000, expected value 135,000. The outlook for US economic and employment data is relatively poor.
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The Wall Street Journal: Kevin Warsh, a leading candidate for the Federal Reserve, stated that when the outcomes of monetary policy are poor, the Fed should accept rigorous questioning and strong oversight, and take responsibility when mistakes are made. The current predicament of the Fed is largely self-inflicted. To regain credibility, restore its position, and most importantly, avoid worse economic outcomes for citizens, a strategic reset is necessary. SEC member and head of the crypto asset working group Hester Peirce stated at the SEC’s 'Know Your Custodian' meeting that the current regulatory environment for US crypto assets is akin to playing a game of 'the floor is lava' in the dark, and there is an urgent need to establish clear compliance channels to provide guidance for crypto asset custody and trading to promote healthy market development. According to the Hong Kong Wen Wei Po, the Hong Kong police received nearly 100 reports of investment fraud in the past week, with total losses exceeding HKD 90 million, urging vigilance against low-risk, high-return investment scams on social platforms. Bloomberg: Elon Musk's AI startup xAI plans to raise $20 billion, potentially becoming the second-largest startup financing in history, second only to OpenAI's $40 billion financing earlier this year. On April 28, the crypto fear and greed index was at 54, indicating a return of neutral market sentiment.

After Trump softened his stance on tariffs and Powell's position. On Wednesday, the Nasdaq index rose 3.5% during the session, the S&P 500 index rose 2.5%, and the Dow Jones index rose 2.1%. Gold fell 2.4% to $3,300 per ounce. Tesla's financial report stated that as of March 31, Tesla currently holds 11,509 Bitcoin on its balance sheet.
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Musk posted: "I am not 'leaving', it’s just that DOGE has been established, and I am allocating less time to it now." On Wednesday, Musk stated that the work in the efficiency department (DOGE) is very important. He will return to Tesla in May, and the time allocated to the DOGE department will be greatly reduced. Cointelegraph reported that the European Central Bank (ECB) expressed concerns about the aggressive policies supporting the cryptocurrency industry in the U.S., warning that the surge in dollar-pegged stablecoins could undermine the stability of the European financial system. Trump stated that the cryptocurrency industry urgently needs clear regulatory policies. SEC Chief Paul Atkins is the best candidate to ensure regulatory certainty for cryptocurrencies. On April 22, Musk shared an image of economist Milton Friedman with BTC laser eyes, captioning it "The best economist in history." BTC's market cap surpassed Alphabet (Google) at $1.86 trillion, ranking fifth among global mainstream assets. Matrixport stated that as market concerns over Trump's tariff comments ease, the likelihood of surpassing $95,000 is increasing, with BTC currently showing a certain upward trend.

On Monday, the Nasdaq index fell 3.5% during trading, the S&P 500 index fell 3.3%, and the Dow Jones index fell 3.2%; the dollar index has consecutively fallen below 100, 99, and 98 points; gold prices surged by 3% to $3,430 per ounce. Bitcoin briefly aligned with gold's safe haven narrative on Monday. Trump continues to criticize Fed chair Powell, saying: 'Mr. Late' (Powell); a major loser, should cut rates now; Powell is always late; if Powell knew what he was doing, rates would have been cut long ago.
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The European Central Bank (ECB) report predicts that the digital euro will replace some circulating banknotes, fundamentally changing how Europeans use money, and bank deposits will also be affected. Europe is actively promoting the digital euro in response to the rise of dollar stablecoins and other cryptocurrencies. ECB Executive Board member Fabio Panetta emphasized: The digital euro will curb the expansion of these de-banking solutions, which is precisely why we need it. The Texas House of Representatives will hold a public hearing on the (BTC Strategic Reserve and Investment Act) on April 23. The (Strategic Digital Asset Reserve Act) (abbreviated SB 1373) in Arizona has passed the House committee. Currently, the bill still needs to undergo three readings and a full vote before it can be sent to the governor for final approval. Coinmarketcap data shows the market is slightly warming, with the altcoin season index rising from a recent low of 14 on Trump's tariff day to 18, but still significantly lower than the March average of 32 and the February average of 43. Japanese listed company Metaplanet Inc. announced an increase of 330 BTC, now holding a total of 4,855 BTC. Glassnode data shows that addresses holding more than 1,000 BTC have increased from 2,037 at the end of February to 2,107 on April 15, nearing the levels of November to December 2024; addresses holding less than 10 BTC continue to decrease.

On April 17, the European Central Bank (ECB) cut interest rates by 25 basis points as expected, marking the seventh rate cut in the past year, with traders anticipating three more cuts from the ECB this year. Trump continues to speak out, harshly criticizing Powell's interest rate policy as 'always too late and wrong,' stating that firing Powell is urgent, and the market is watching whether Powell will adjust policy under pressure.
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The U.S. Department of Justice (DOJ) has stated that it will re-examine a practice: how to compensate investors at a price below the current market value after digital assets are seized in cases involving fraud and theft. Many of these cases have led to investor losses in digital assets due to 'fraud and theft.' The DOJ pointed out that the value of these digital assets has increased significantly in the following years, and current U.S. bankruptcy regulations stipulate that seized assets should be returned to victims at the dollar value at the time of the fraud. Federal Reserve Chair Powell stated in an interview with the Chicago Economic Club that there may be a relaxation of regulatory restrictions on U.S. banks engaging in cryptocurrency business in the future, promoting moderate innovation, and noted that the current industry environment has become mainstream, having previously implemented quite conservative regulatory guidelines on banks, while other banking regulatory bodies were even stricter. The two chambers of the U.S. Congress are rapidly advancing the legislative framework for stablecoins. Related bills in both the House of Representatives and the Senate have passed committee review, and Trump expressed hope for a quick signature to make them law. The BTC reserve bill HB 92 in North Carolina has been passed by the House Pension and Retirement Committee. Before a full vote, the bill still needs to pass through three committees: Rules, Agenda, and House Operations.

In the early hours of Thursday, Powell stated in his speech: the level of tariffs has exceeded the Federal Reserve's upward expectations, and the market is digesting a historically rare event, with market volatility expected to continue; if a shortage of dollars occurs, the Federal Reserve is prepared to provide dollars to global central banks. During Powell's remarks, US stock indices deepened their declines, with the Nasdaq down 3.5%, the S&P 500 index down 2.3%, and the Dow Jones index down 1.5%; gold rose to $3338 per ounce, up more than 3.3%. US Treasury Secretary Basant previously stated that they are considering successors to Federal Reserve head Powell, with interviews for candidates beginning in the fall.