Republican lawmakers bombard Trump with one-third of South Korean rich people having cryptocurrency

Reprinted from jinse

04/21/2025·1M

Headlines

▌U.S. Republican lawmakers "reverse" to bombard Trump: President has no right to fire the Federal Reserve Chairman

According to the Financial Times, John Kennedy, a Republican senator in Louisiana and a member of the Senate Banking Committee, slammed US President Trump's attack on Federal Reserve Chairman Powell on Sunday local time, saying that no president has the right to fire the Federal Reserve Chairman. "I don't think the president, any president, has the right to remove the Fed chairman," Kennedy said on NBC. "I think the Fed should be independent." Earlier, Trump said he believes he has the right to fire Powell, and he told reporters in the Oval Office last Thursday: "If I want him to step down, he will step down soon, believe me." Kennedy defended the focus of the Fed's control of inflation on Sunday, saying, "My experience with Powell told me that he has a tiger blood. He will do what he thinks is right, and he will not be recorded in history because he allows inflation to be crazy like the hare in March, and he will take actions he thinks must."

▌Data : One-third of South Korean rich people hold cryptocurrencies

According to Cointelegraph, one-third of South Korean billionaires now hold cryptocurrencies. "The high net worth population expectations for virtual asset growth indicate that the field is maturing." - Hanya Institute of Finance, "2025 Korea Wealth Report"

Quotes

As of press time, according to Coingecko data:

BTC's recent transaction price is US$85,198.28, up and down +0.1% intraday;

ETH's latest transaction price is US$1,588.57, with an intraday increase and decrease of -1.4 % ;

BNB's recent transaction price is US$592.94, with an intraday increase of +0.2% ;

SOL's latest transaction price is US$138.10, with an intraday increase and decrease of -1.1 % ;

DOGE's recent transaction price is US$0.1552, with an intraday increase and decrease of -1.3 % ;

XPR's recent transaction price is US$2.08, with an intraday increase and decline of -0.3 % .

policy

▌Salvador increased its holdings by 1 Bitcoin, and its current total holdings reach 6153.18

According to the website of the El Salvador Ministry of Finance, El Salvador increased its holdings by 1 Bitcoin, and its current total holdings reach 615.318, with a total value of about US$520 million.

Blockchain application

▌ Vitalik Buterin proposes to replace EVM with RISC-V to improve Ethereum scalability

According to The Block, Ethereum co-founder Vitalik Buterin proposed on April 20 at the Ethereum Magicians forum to replace Ethereum virtual machine (EVM) with an open source instruction set architecture RISC-V to improve execution layer efficiency. Buterin notes that this move can increase zero-knowledge proof efficiency by up to 100 times while maintaining two-way compatibility with existing EVM contracts. The proposal aims to address the long-term expansion bottlenecks of Ethereum in data availability, block production competitiveness, and ZK-EVM proof.

Cryptocurrency

▌He Yi: Do not participate in any project investment, the only project you participate in is BNB

The co-founder of Binance issued a statement on social media saying that she does not participate in any project investment, communication, token launch or endorsement matters, and the only project she participated in is BNB. She reminded the public to be wary of AI forged voice and video, and emphasized that information needs to be verified independently.

▌Analysis : Cryptocurrency liquidity funds perform poorly, and funds turn to high-quality tokens

Cryptocurrency liquidity funds have performed poorly since 2025, with losses of up to 70%, and several investors have revealed this to me (this kind of data is usually only shared internally and between limited partners). After a tough first quarter of 2025, liquidity fund investors are currently focusing on a few high-conviction investment projects. In this cycle, fundamentals, rather than market trends, are driving investment decisions.

Most liquid funds performed strongly at the beginning of the year, but their performance was severely affected as financial markets, including cryptocurrencies, were hit hard by wider turmoil, from tariff policies to macroeconomic uncertainty. “The performance in the early years was very strong, but starting in mid-January, the entire altcoin market began to collapse,” said Rob Hadick, general partner of Dragonfly. “Bitcoin has fallen about 10% this year, Solana (SOL) has fallen about 30%, Ethereum (ETH) has fallen about 50%, and many altcoins are worse, making it difficult for funds to find safe havens.”

Jack Platts, founder of Hypersphere Ventures, said most liquid funds invest heavily in Solana in 2024, which has dragged their returns so far this year.

Some losses are related to expectations. As Bitcoin becomes more accessible to institutional investors through ETFs, active management fund managers are often explicitly asked not to hold Bitcoin. Cosmo Jiang, general partner of Pantera Capital, said investors expect to gain exposure to assets outside Bitcoin and even Ethereum through liquidity funds.

Michael Saylor: More than 13,000 institutions and 814,000 retail accounts hold MSTR directly

Michael Saylor, founder of Strategy (formerly MicroStrategy), posted on social media that according to public data as of the first quarter of 2025, more than 13,000 institutions and 814,000 retail accounts directly hold MSTR. It is estimated that 55 million beneficiaries hold indirectly through ETFs, mutual funds, pensions and insurance portfolios.

Important economic trends

▌Spot gold broke through $3350 per ounce in the early trading, approaching a record high

Spot gold broke through $3,350 per ounce in the early trading, approaching a record high, rising 0.65% intraday.

▌The probability of the Federal Reserve keeping interest rates unchanged in May is 86.1%

According to CME's "Federal Observation": The probability of the Fed keeping interest rates unchanged in May is 86.1%, and the probability of cutting interest rates by 25 basis points is 13.9%. The probability of the Federal Reserve keeping interest rates unchanged by June is 39.6%, the probability of a cumulative interest rate cut of 25 basis points is 52.8%, and the probability of a cumulative interest rate cut of 50 basis points is 7.5%.

▌Trump cited eight non-tariff "cheating" methods to name Japan and the EU

US President Trump listed eight non-tariff "cheating" methods in trade on social platforms, including 1. Exchange rate manipulation, 2. VAT as tariffs and export subsidies, 3. Dumping below cost, 4. Export subsidies and other government subsidies, 5. Agricultural protection standards (such as the EU prohibits genetically modified corn), 6. Protection technical standards (such as Japanese bowling tests), 7. Counterfeiting, piracy and intellectual property theft (annual loss exceeds $1 trillion), 8. Transshipment tax avoidance.

▌Trump ' s insights on negotiations: Whoever has gold is the dominant

US President Trump said on social platforms, "The golden rule of negotiation and success: those who own gold make rules." In addition, he also said, "Businessmen who criticize tariffs are not good at business, but what they really are not good at is politics. They don't understand and don't realize that I am the best friend of American capitalism in history!"

Golden Encyclopedia

▌What is compressed NFT?

Compressed NFT is a non-fungible token (NFT) designed to reduce the cost of storing and using NFTs for transactions on the Solana blockchain. Compressed NFT provides several prominent key advantages in the blockchain ecosystem. They are affordable, greatly reducing minting and storage costs, allowing creators and businesses to use blockchain technology without financial obstacles. Furthermore, cNFT contributes to more environmentally friendly blockchain practices by reducing storage requirements and thus reducing energy use. These properties make cNFT a potential game changer for scalable, environmentally friendly and innovative applications.

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.