US SEC delays series of spot ETFs Trump: Tariffs may be higher than 25%

Reprinted from jinse

03/12/2025·1M

Headlines

▌U.S. SEC delays approval of grayscale spot Cardano ETF

The U.S. Securities and Exchange Commission (SEC) delays approval of the Grayscale Spot Cardano (ADA) ETF.

▌U.S. SEC delays approval of Canary spot XRP ETF

The U.S. Securities and Exchange Commission (SEC) delays approval of Canary Spot XRP ETF.

▌U.S. SEC delays approval of Canary spot Solana ETF

The Securities and Exchange Commission (SEC) delays approval of Canary Spot Solana ETF.

▌U.S. SEC delays approval of Canary spot LTC ETF

The U.S. Securities and Exchange Commission (SEC) delays approval of Canary Spot Litecoin ETF.

Trump told CEOs: Tariffs may be higher than 25%

U.S. President Trump told CEOs of large companies on Tuesday that new tariffs could be higher than 25%. "Tariffs are having a huge positive impact," Trump said at the business roundtable and dismissed the stock market's response. He said the tariffs could be higher than 25%, and the higher the tariffs, the more likely they are to build factories in the United States. He also defended Musk, who is leading the White House efforts to shrink the federal government. "We have had some small problems, not big problems, but we have saved a lot of money," Trump said.

Quotes

As of press time, according to Coingecko data,

BTC's recent transaction price is US$82,758.00, with an increase of +5.8% intraday increase of +5.8% ;

ETH's latest transaction price is US$1,916.61, with an intraday increase of +2.8% ;

BNB's recent transaction price is US$550.38, with an intraday increase of +4.0% ;

SOL's recent transaction price is US$125.26, with an intraday increase of +6.4% ;

DOGE's recent transaction price is US$0.1647, with an intraday increase of +6.8% ;

XPR's recent transaction price is US$2.18, with an intraday increase and decrease of +7.8 % .

policy

▌The U.S. House of Representatives Passes Bill to Repeal IRS DeFi Broker Rules

The U.S. House of Representatives voted on Tuesday local time to repeal the IRS DeFi broker rules with 292 votes in favor and 132 votes against, eliminating the obligation to declare sales proceeds and trading dates by decentralized crypto exchanges (DeFi).

Blockchain application

▌ Solana 's SIMD-228 upgrade plan has been approved

Solana's SIMD-228 upgrade program voted to quorum, with 71.85% voted in favor, which could reduce SOL inflation by 80%, and the vote will continue until the end of epoch-755 and is now passed.

Cryptocurrency

▌Bank Mellon executives call for clarification of stablecoin regulatory framework

At a recent U.S. Congressional hearing, Caroline Butler, global head of digital assets at BNY Mellon, stressed that traditional financial institutions have provided important services to stablecoin issuers such as Circle (USDC), but the industry urgently needs the U.S. government to provide a clear regulatory framework. "For the ecosystem, it is crucial to ensure that custodial banks protect customer assets under federal regulations, which is the basis for building market trust," Butler said. She also noted that traditional financial institutions want to participate in emerging areas such as stablecoins and blockchain technology to meet the ever-changing needs of the market and customers.

At the hearing, Guynn, a well-known bank compliance lawyer on Wall Street, also said that if the stablecoin issuer holds sufficient liquid asset reserves and capital buffers in accordance with the requirements of the STABLE Act, and has no major liabilities, its payment of stablecoins should be as safe as bank deposits and central bank currencies.

▌ Cynthia Lummis: Bitcoin Act Can Help U.S. National Debt

"The Bitcoin bill is the solution to our country's debt problems and the future of the United States' prosperity," U.S. Senator Cynthia Lummis said today.

▌ Bitcoin Magazine CEO: The implementation of the executive order for strategic Bitcoin reserves is much stricter than market expectations

Bitcoin Magazine CEO David Bailey posted on X that the implementation of the strategic Bitcoin reserve executive order is much stricter than market expectations - the timetable units are so refined that it is as good as the day and week, rather than month or year, and managers are taking action quickly.

▌ Michael Saylor posted a message saying "Big Event is Coming", implying that Bitcoin-related news may be announced

Strategy founder Michael Saylor posted on X "₿ig things are coming. (The big thing is coming)", where the first letter of the word "₿ig" is a Bitcoin- related symbol, implying that Bitcoin-related news may be announced.

Standard Chartered Bank analyst: Bitcoin’s recent decline is related to overall weakness in risk assets, and remains bullish to $200,000 in the long term

Geoff Kendrick, head of digital assets research at Standard Chartered Bank, said that Bitcoin's recent price fluctuations are consistent with the performance of risky assets such as the "Big Seven U.S. Stocks", rather than cryptocurrencies' own problems. He pointed out that the decline in Bitcoin is mainly affected by overall market sentiment, and the future rebound may rely on two major catalysts: the overall recovery of risky assets or the positive news of Bitcoin (such as sovereign purchases in the United States or other countries). If the Fed quickly turns to a rate cut (such as the probability of a rate cut in May rises from 50% to 75%), it may drive Bitcoin to rebound; but if the downward trend continues, Bitcoin may fall below $76,500 and test the $69,000 support level.

Despite short-term pressure, Kendrick remains optimistic about Bitcoin’s long- term outlook, which is expected to reach $200,000 by the end of 2025. He stressed that current market volatility has increased the likelihood of the Fed's interest rate cut, further cementing his long-term bullish view. Meanwhile, Trump's tariff policies and Fed's interest rate decisions will continue to affect market sentiment and bring uncertainty to Bitcoin's trend.

Important economic trends

▌BlackRock CEO: U.S. nationalist policies will push up inflation, and the market underestimates inflation

BlackRock CEO Larry Fink said at the CERAWeek meeting that nationalist policies in the United States (such as expelling workers) will push up inflation, and the market underestimates inflation, and costs will rise further in the next six to nine months, such as large-scale evictions may affect agricultural labor. He also warned the Trump team that AI data center construction will face a shortage of electricians.

▌Wall Street Journal: Trump 's team tends to recommend Bowman as vice chairman of the Federal Reserve's supervision

According to the Wall Street Journal, the Wall Street Journal quoted sources as saying that the advisory team of US President Trump tends to recommend Fed Director Bowman, who also serves as vice chairman in charge of banking supervision. After Trump took office in January, Barr resigned as vice chairman of the Federal Reserve, who is in charge of banking supervision, and only retained his post as a director. Trump has not nominated for succession, and the relevant positions have been hanging. Some Republican lawmakers have always recommended Republican Bowman to the post, and Trump advisers also support the concept. Trump said in an interview on Sunday that the relevant nominees will be announced in the short term.

Golden Encyclopedia

▌What is a cold wallet?

Cold wallet is a cryptocurrency storage method that stays offline and disconnects from the internet. This setup makes it more difficult for hackers to access funds remotely. Examples include: hardware wallets (such as Ledger, Trezor), paper wallets, isolated computers (devices that have never been connected to the internet).

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.