Trump to cut taxes dramatically, Ethereum will implement Pectra upgrade on May 7
Reprinted from jinse
04/24/2025·22DHeadlines
▌Trump : A substantial tax cut will be implemented
US President Trump said he would implement a significant tax cut.
▌Ethereum main network will perform Pectra upgrade on May 7
Tim Beiko, head of agreement support at the Ethereum Foundation, posted a statement saying that the Pectra upgrade will be launched on the main network on May 7, and the epoch height is expected to be 364,032.
It is reported that Pectra has introduced EIP-7702, allowing standard Ethereum accounts (EOAs) to expand the smart contract function and support use cases such as bulk transactions, Gas sponsorship or social recovery; for stakers, Pectra has introduced the function of increasing the valid balance of verifiers.
Quotes
As of press time, according to Coingecko data:
BTC's recent transaction price is US$93,519.54, with an increase of -0.2% intraday;
ETH's latest transaction price is US$1,794.76, with an intraday increase and decrease of +2.0 % ;
BNB's recent transaction price is US$605.56, with an intraday increase and decrease of -2.1% ;
SOL's latest transaction price is US$150.98, with an intraday increase and decrease of +1.2 % ;
DOGE's recent transaction price is US$0.1787, with an intraday increase and decrease of -0.7 % ;
XPR's recent transaction price is US$2.22, with an intraday increase and decrease of -0.4 % .
policy
Texas House holds public hearing on Bitcoin Reserves Act SB 21
According to Bitcoin Laws, the Texas House of Representatives Government Efficiency Delivery Committee just held a public hearing on Bitcoin Reserves Act SB 21. The current status of the bill is "pending", which means that the final vote of the committee has not been held yet.
▌Trump signs executive order to promote artificial intelligence into classrooms
On Wednesday local time, U.S. President Trump signed an executive order to incorporate artificial intelligence (AI) into U.S. classrooms. Although the specific text of the executive order has not been released, a copy of the draft obtained by the Washington Post shows that the executive order requires training on students' AI application capabilities and promotes schools and enterprises to cooperate with them to implement relevant teaching plans. The order will direct Education Secretary Linda McMahon to prioritize federal funding to train teachers and administrators how to apply AI and include it in all subjects. According to the report, the U.S. government will set up an AI education task force to encourage federal agencies to work with the private sector, with the goal of teaching students "basic AI literacy and critical thinking skills."
▌Russia will launch cryptocurrency exchanges for qualified investors
The Russian Central Bank and the Ministry of Finance will set up a cryptocurrency exchange for "highly qualified investors" that will operate "as part of the operations allowed by experimental legal mechanisms." "This will legalize crypto assets and bring crypto operations out of the shadow," said Finance Minister Anton Siluanov. The mechanism reportedly applies to individuals with “invested more than 100 million rubles in securities and deposits, or incomes of more than 50 million rubles the previous year.” The central bank said the move aims to "improve transparency in the cryptocurrency market, develop service standards, and expand investment opportunities for high-risk investors."
Blockchain application
▌Bitcoin Rollup project Citrea launches Clementine bridge on testnet to solve the bottleneck of using BTC in DeFi
Bitcoin Rollup project Citrea deploys Clementine bridge on the Bitcoin Test Network, using the BitVM2 programming language, aiming to bring Bitcoin (BTC) into the DeFi environment by providing trust minimization. "The security bridging between Bitcoin and the layer two protocol has always been a bottleneck in using BTC for programmable environments," Citrea said. Clementine solves this problem by allowing multiple extracts to use a single collateral. In addition, Clementine adopts the BitVM2 version, which upgrades operations, and any participant can challenge suspicious transactions.
▌Ethereum Pectra upgrade will introduce the function of increasing the valid balance of validators
Ethereum core developer timbeiko.eth posted a statement on the X platform that for stakers, Pectra will introduce the function of increasing the valid balance of verifiers. This means that small operators can directly stake value-added, while large operators can integrate validators to reduce bandwidth usage of the p2p network. This function also eliminates the PoW following distance before the merger, shortens the delay in processing validator deposits, and introduces withdrawals that can be triggered by the execution layer, thus achieving a more trustless equity structure.
Previously reported that the Ethereum main network will perform a Pectra upgrade on May 7.
Cryptocurrency
▌ TRUMP MEME: Trump 's "TRUMP DINNER" dinner will be held in Washington on May 22
According to official information disclosed by TRUMP MEME, Trump's "TRUMP DINNER" dinner will be held in Washington on May 22 at the Trump National Golf Club in Washington, DC. The top 220 TRUMP token holders will be invited, and the top 25 token holders will enjoy a private VIP reception with Trump and participate in a special White House VIP tour the next day.
All participants are required to pass a background check and conduct a KYC and compliance review of their wallets. Guests are not allowed (only registered personnel can participate). Once the attendance information is submitted, it cannot be changed. The dinner is arranged by Fight Fight Fight LLC, and Trump will attend the dinner as a guest and will not raise any funds.
▌ TRUMP 's first batch of unlocked tokens and the daily release of daily shares in the next three months will be locked for an additional 90 days
The first batch of unlocked tokens and the share released daily in the next three months will be locked for an additional 90 days.
The market shows that TRUMP has broken through US$11 and is now at US$11.29, with a 24-hour increase of 23.7%. The market fluctuates greatly, please do a good job in risk control.
Previously, Trump will hold a "TRUMP DINNER" dinner for TRUMP token holders. It is reported that participants will be among the top 220 coin holders.
▌ Berachain Eco-Protocol Infrared launches points plan
Infrared Finance announced the launch of the points program to inspire users to participate and said that "the points will be converted into Infrared tokens expected to be launched in the third quarter." Infrared said the program includes a “traceable reward for early users”, where users can earn points by “contributing to liquidity proof vaults”, “providing key trading pair liquidity on DEXs such as Kodiak and BEX”, and “staking iBGT and iBERA.” Points “without a fixed total, they will be dynamically allocated based on eligible activities” and can be viewed in the panel in real time.
▌DeFi Development Corp, a listed company in the United States, increased its holdings of US$9.9 million SOL
According to the official announcement, the US listed company DeFi Development Corp (JNVR), formerly known as Janover, injected another $9.9 million in Solana SOL into its company's treasury, bringing its total cryptocurrency holdings to 317,273 SOL, or approximately $48 million.
Important economic trends
▌Follow California, 11 more states in the United States sued the Trump administration for "illegal" abuse of tariff policies
On April 23 local time, New York, Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, New Mexico, Oregon and Vermont filed lawsuits in the U.S. Court of International Trade, trying to prevent the implementation of the Trump administration's tariff policy and seeking a court to declare its new tariff policy illegal. Earlier, California Governor Gavin Newsom, announced on the 16th local time that he sued the Trump administration for tariff issues, accusing the latter of abusing tariff policies of "illegal". This is the first state government in the United States to challenge Trump's tariff "big stick".
▌Trump plans to exempt automakers from partial tariffs
According to the Financial Times, US President Trump plans to exempt some of the toughest tariffs from automakers, another concession in the trade war after recent intensive lobbying by auto executives. According to two people familiar with the matter, the move will protect auto parts from two tariffs, one is the tariffs imposed on some imported goods to crack down on fentanyl production, and the other is the tariffs imposed on steel and aluminum products. However, Trump's 25% tariff on all imported vehicles will remain. Another 25% tariff on auto parts will also be retained and will take effect from May 3. Although the United States has previously excluded automobile products under "reciprocal" tariffs on its major trading partners, American auto companies are still seeking more exemptions in the near future. These concessions will mark an initial victory for the automotive industry, and another retreat from Trump on his most radical tariffs. People familiar with the matter said the current negotiations focus mainly on simplifying the taxation process, such as relaxing the rules of origin for automotive parts. This policy adjustment reflects that while maintaining the core position of the "U.S. First" trade policy, the Trump administration is responding pragmatically to specific industry pressures.
▌Canadian Prime Minister: Will firmly resist Trump 's tariff policy
On the 23rd local time, Canadian Prime Minister Carney said at a campaign event in Victoria, British Columbia that US President Trump is disrupting the global market and fundamentally reshaping the international trade system. On the Canadian issue, Trump's attitude is more direct and aggressive. Carney said Trump "want to defeat us so the United States can control us." Carney said he had plans to fight, protect and build in the face of these threats to Canada’s lifestyle, economy and sovereignty. Carney promises that his administration will firmly resist U.S. President Trump’s tariff policies while creating new jobs, reducing taxes for the middle class, and building a strong Canada. In addition, Carney also expressed his expectation of a comprehensive discussion with Trump and hoped that the meeting would be in a face-to-face format.
▌Trump warns: raising taxes on wealthy people will trigger a "tide of wealthy people"
U.S. President Trump told reporters in the Oval Office on Wednesday local time that a higher tax rate on millionaires would stimulate the wealthiest people in the United States to leave the United States, downplaying an idea that some Republican circles are discussing as a way to pay for an economic plan. "I think it will be very destructive because millionaires will leave the country," Trump said. "Other countries that do this have lost a lot of the rich. It's bad because the rich are paying taxes." Trump's remarks may pour cold water on discussions about setting up a new tax rate of 40% for people who earn $1 million or more a year. Some Republican members in the House and Senate have said they are willing to tax high-income earners to help pay other parts of Trump’s agenda, including proposals to end tips and overtime taxes.
Sources : The US clearly stated in a talks held earlier this month that special treatment for Japan cannot be given
According to the Japan Broadcasting Association citing several Japanese government sources, the US clearly stated in the talks held earlier this month that special treatment for Japan cannot be given.
▌Federal Hamak: There must be a high threshold for the Fed to intervene to aid the market
Fed Hamake: The Fed must have a high threshold for intervening to aid the market. The Fed's responsibility is not to tell the market what is the right price.
▌The probability of the Federal Reserve keeping interest rates unchanged in May is 94.6%
According to CME's "Federal Observation": The probability of the Fed keeping interest rates unchanged in May is 94.6%, and the probability of cutting interest rates by 25 basis points is 5.4%. The probability of the Federal Reserve keeping interest rates unchanged by June is 41.2%, the probability of a cumulative interest rate cut of 25 basis points is 55.8%, and the probability of a cumulative interest rate cut of 50 basis points is 3.1%.
Golden Encyclopedia
▌What is address poisoning attack
In the cryptocurrency world, hostile behavior by attackers to influence or deceive consumers by tampering with cryptocurrency addresses is called address poisoning attacks. On a blockchain network, these addresses composed of different alphanumeric strings are the source or destination of the transaction. These attacks use various methods to undermine the integrity and security of crypto wallets and transactions.
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.
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