Fed's choice to deal with tariffs limited tariffs hit the tech industry severely
Reprinted from jinse
04/09/2025·1MHeadlines
▌The Federal Reserve has limited options for dealing with tariffs
Tariffs make the Fed's job even harder in boosting a weak economy. "First, the Fed may be late, and secondly, it has limited ability to offset the global shift to protectionism. This will only make things less bad. An economic downturn could lead to earlier, or even faster easing," Morgan Stanley analysts said in a research note.
▌Tariffs have a particularly severe impact on the US technology industry
In the early days of the Trump administration, Silicon Valley had already experienced a plunge in valuation and delayed initial public offerings. Leaders at Alphabet, Amazon, Meta, Microsoft and Uber all made large donations for Trump’s second inauguration, both in person and through the company. In the past two trading days, the seven most valuable technology companies in the United States have evaporated by a total of $1.8 trillion. Wall Street is selling risky assets, amid concerns that widespread trade policy hikes will have an impact on the U.S. and global economies, an impact that has affected the initial public offering (IPO) market.
Quotes
As of press time, according to Coingecko data:
BTC's recent transaction price is US$83,528.14, with an increase of -0.5% intraday;
ETH's latest transaction price is US$1,810.55, with an intraday increase and decrease of -0.6 % ;
BNB's recent transaction price is US$592.65, with an intraday increase and decrease of -1.0% ;
SOL's latest transaction price is US$120.01, with an intraday increase and decrease of -1.7 % ;
DOGE's recent transaction price is US$0.1694, with an intraday increase and decrease of -1.2 % ;
XPR's recent transaction price is US$2.15, with an intraday increase and decline of +0.8 % .
policy
▌California ' s governor seeks to get tariff exemptions in Trump's trade war
According to Axios, California Governor Gavin Newsom said Friday that he is negotiating agreements with other countries to ensure that California can be exempted from retaliatory tariffs amid Trump's escalating trade war. Deemed a potential candidate for the U.S. president in 2028, Newsom is seeking to protect California from its negative effects. "Donald Trump's tariffs do not represent all Americans. I have directed the California government to look for new opportunities to expand trade and reminded the global trading partners - California is still a stable partner," Newsom said in a video released on Friday. He called California a "pillar of the U.S. economy" and stressed that California is committed to maintaining "stable trade relations" with the world. Newsom wrote on X (formerly Twitter) that California is "ready ready to talk to global trading partners." He also said that California is not afraid to use its market influence to "fight against the biggest tax hikes our generation faces."
▌Georgia House of Representatives Resolution Requires Education Department to implement "blockchain, cryptocurrency and Web3" education
According to Bitcoin Laws, the Georgia House of Representatives resolution requires the Department of Education to implement "blockchain, cryptocurrency and Web3" education in K-12 education. The Democratic bill said: "Bitcoin is becoming increasingly accepted and widely used to replace traditional currencies."
Blockchain application
▌ Lens Chain mainnet is online
The L2 network Lens Chain, specially designed for SocialFi, is online. The functions provided by Lens are as follows: Lens Chain: Use GHO stablecoin as gas for scalable, fast and low-cost transactions. Social Protocol (Lens V3): Pre-built social primitives such as accounts and groups. These primitives are flexible and modular and can be integrated into existing applications as separate features. Grove: On-chain licensed storage of user-controlled content. Developer Dashboard: Manage applications, guide users easily and integrate without coding expertise.
Cryptocurrency
▌U.S. Treasury Secretary: Bitcoin is becoming a store of value
According to Coingape, US Treasury Secretary Scott Bessent said in an interview with Tucker Carlson that Bitcoin is becoming an "emerging store of value". He compared Bitcoin with gold, emphasizing that both have store of value attributes.
▌U.S. SEC is reviewing several employee statements on digital assets in the Biden era
Mark Uyeda, acting chairman of the US SEC, issued a statement saying that in accordance with Executive Order No. 14192, "Release Prosperity through Deregulation", combined with DOGE's recommendations, I have asked the U.S. Securities and Exchange Commission (SEC) staff to immediately review the following employee statement. Digital Asset Investment Contract Analysis Framework; Company Sample Letter on Recent Development of the Crypto Asset Market; Employee Statement on “Digital Asset Custody and Qualified Trustee Status NAL” in Wyoming Banking Division; Employee Statement on Funds Registered under the Investment Companies Act to Investment in Bitcoin Futures Markets. The purpose of this review is to identify employee statements consistent with current agency priorities for modification or revocation.
▌Bitcoin holdings reached 1,034, and mining output 210 BTC in March
Cipher Mining, a Nasdaq-listed Bitcoin mining company, released an unaudited production and operation update report in March, which disclosed that its Bitcoin mining output in March was 210 BTC, but it sold 206 BTC that month due to business operations. Currently, Bitcoin holdings reached 1,034 (of which 394 BTC are used for collateral), and the hash rate at the end of the month reached 13.5 EH/s
▌Powell sends hawkish signals, market liquidity expectations are decreasing, and BTC may test another $80,000
Federal Reserve Chairman Powell said he would not immediately respond to Trump's new round of trade tariffs, nor would he rush to cut interest rates due to market volatility and recession expectations. The crypto market has been dragged down by concerns about global trade war and a pullback in US stocks recently. Powell's remarks further weakened market expectations for loose policies, which is not conducive to bulls pushing up prices in the short term. Bitunix analysts' view: BTC's short-term pressure range is $84,500-$83,800, with a short-term support of $80,000. If the BTC price cannot maintain the 80,000 mark, it will enter a deeper adjustment zone. It is recommended that traders control positions, strictly implement stop loss, and wait for the situation to become clearer.
Important economic trends
▌This week, the total market value of US stocks evaporated by more than 45 trillion yuan
This week, European and American stock markets fell sharply across the board. The Nasdaq fell more than 10%, falling more than 1,700 points; the S&P 500 fell more than 9%, falling more than 500 points; the Dow Jones Industrial Index fell more than 7%, falling more than 3,200 points. The market value of the seven giants evaporated by about US$155.36 billion (RMB 11.31 trillion) this week. This week, the total market value of US stocks evaporated by about US$6.29 trillion (RMB 45.80 trillion).
▌Today ' s Panic and Greed Index dropped to 34, and the level is still fearful
Today, the Panic and Greed Index dropped to 34, and the level is still fearful. Note: The threshold of the Panic Index is 0-100, including indicators: volatility (25%) + market transaction volume (25%) + social media popularity (15%) + market survey (15%) + Bitcoin's proportion in the entire market (10%) + Google Hot Word Analysis (10%).
Golden Encyclopedia
▌What is an address poisoning attack in cryptocurrency?
Address poisoning attacks are malicious means used by attackers. Attackers can rerout traffic, interrupt services, or access sensitive data without authorization by inserting fake data or changing routing tables. These attacks exploit flaws in network protocols that seriously threaten the integrity of data and network security.
Disclaimer: As a blockchain information platform, the content of the articles published by Golden Finance is for information reference only and is not used as actual investment advice. Please establish the correct investment philosophy and be sure to improve your risk awareness.
