USD will be the first USD stablecoin in Japan
Reprinted from jinse
03/05/2025·1MHeadlines
▌US media: The IRS plans to lay off nearly 45,000 employees
Two people familiar with the matter revealed that the IRS is drafting a plan to cut its workforce by up to half by various means such as layoffs, natural reductions and providing incentive buyouts. These layoffs are part of the Trump administration's attempt to reduce the size of federal government employees through the government efficiency department Musk is responsible for, including closing some agencies, laying off almost all probationary employees who have not yet been protected by civil servants, and providing a buyout of service to almost all federal employees through a "delayed resignation program" to rapidly reduce the number of government employees.
▌ Circle 's USDC will become Japan's first dollar stablecoin
Circle's USDC will become Japan's first dollar stablecoin, and SBI VC Trade will be the first to list Circle's stablecoin under Japan's new payment framework.
Quotes
As of press time, according to Coingecko data,
BTC's recent transaction price is US$87,070.70, up and down +1.1% intraday;
ETH's latest transaction price is US$2,165.88, with an intraday increase and decline of +0.6% ;
BNB's recent transaction price is US$582.56, with an intraday increase of +1.4% ;
SOL's latest transaction price is US$144.39, with an intraday increase of +1.4% ;
DOGE's recent transaction price is US$0.1986, with an intraday increase and decline of -0.3% ;
XPR's recent transaction price is US$2.45, with an intraday increase and decrease of +2.7 % .
policy
▌The US Treasury Department sanctions 49 Bitcoin and Monero addresses, involving the dark web market Nemesis
According to the U.S. Treasury Office of Overseas Assets Control (OFAC), the U.S. government has placed 49 cryptocurrency addresses on the sanctions list, controlled by Iranian citizen Behrouz Parsarad, who is accused of being an administrator of the dark web market Nemesis. The addresses that were sanctioned this time include 44 Bitcoin and 5 Monero addresses.
Nemesis had 30,000 active users before it was shut down and led to nearly $30 million in drug dealings over three years of operation. According to OFAC, Parsarad made millions of dollars in profits by charging users for transaction fees and was suspected of laundering money for drug traffickers and cybercriminals. Nemesis deals range from drugs, personally identifiable data, forged documents, ransomware and cybercrime tools such as phishing attacks and DDoS tools.
▌U.S. Senate votes to repeal the IRS 's DeFi broker rules
On Tuesday, the U.S. Senate, with strong support from numerous Democrats, successfully passed a resolution aimed at repealing the Biden administration’s cryptocurrency tax rules, which could be the biggest obstacle to eliminating the new IRS broker rule, which was originally planned to cover decentralized finance. The Senate voted 70 to 27 to pass a resolution authorized under the Congressional Review Act, aiming to completely repeal the extension of the IRS broker rules. However, the House still needs to pass an identical resolution before U.S. President Trump can sign it into law. Once completed, not only will the rule be completely abolished, but the IRS will also be banned from implementing similar policies in the future.
The House Financial Services Committee has passed an identical resolution and recommended approval in the House of Representatives' voting, which is still awaiting a vote. The White House said earlier today that the president may sign the resolution quickly.
▌U.S. SEC agrees to withdraw lawsuit against Cumberland DRW
Crypto trading company Cumberland DRW issued a statement on the X platform saying that it has signed a joint application with the U.S. Securities and Exchange Commission (SEC) to revoke the lawsuit filed by the SEC. The agreement reached an agreement on February 20 on both sides and is currently awaiting approval from the SEC committee.
The US SEC sued Cumberland DRW in October last year, accusing it of operating as an unregistered securities dealer and selling more than $2 billion in unregistered securities.
▌Belarusian President Orders to Develop Cryptocurrency Mining to Use Excessive Power to Receive
Belarusian President Alexander Lukashenko has instructed the new energy minister to embark on the development of the country's cryptocurrency mining industry to make the most of the excess electricity resources. The decision comes as Lukashenko formed a new government, and he also stressed that the current priority is to upgrade the 5,700-kilometer power grid across the country to meet the growing electricity demand for households and economic activities.
Blockchain application
▌ Reddit Alexis Ohanian participates in bidding for TikTok and plans to "open" it
Reddit co-founder Alexis Ohanian is considering acquiring TikTok and plans to "open" the social media app. The app plans to integrate the Frequency blockchain, a “decentralized social media protocol” designed to give users control over their online content. Frequency is a blockchain-based decentralized platform created by Project Liberty to increase transparency, accountability and data ownership.
"This is exciting news for the digital world. I am now officially one of the people trying to buy TikTok US and bring it to the blockchain. TikTok has changed the game for creators, and its future should be created by them. Users should have their own data. Creators should have their own audience. That's it."
Cryptocurrency
Standard Chartered Bank analyst: $69,000 to $76,500 is the key potential support area for Bitcoin
Standard Chartered analyst Geoff Kendrick expressed concerns about the short- term trends of Bitcoin and Strategy (formerly MicroStrategy) as Bitcoin prices face potential volatility near key support levels.
Kendric noted that the price range on November 6, 2024 (the day after the U.S. election) is a key potential support area for Bitcoin, with an estimated price range between $69,000 and $76,500. He believes that Bitcoin’s trend in this range may determine its short-term trend. He noted that if Bitcoin’s price falls to the $69,000 to $76,500 range, it will be closer to Strategy’s average purchase price of $65,000, so it’s a key level to focus on.
▌Salvador President: Will not stop increasing Bitcoin due to IMF agreement
El Salvador Nayib Bukele said on X platform that El Salvador has no intention of stopping buying Bitcoin (BTC), regardless of what the International Monetary Fund (IMF) demands.
Bukele posted on X platform: "'It will stop in April.''It will stop in June.''It will stop in December.''No, it will not stop, and if we do not now and in the future when the world excludes us, and most of the 'bitcoin users' abandon us, we will not stop now and in the future. Proof of Work > Complaint Proof."
Earlier in the day, the International Monetary Fund (IMF) released more details of the $3.5 billion agreement with the Latin American country. The IMF claims that as part of the loan program, the IMF prohibits "the public sector voluntarily accumulating bitcoin."
▌Salvador increased his holdings by 1 bitcoin this morning, and currently holds 6,101.18 pieces
According to the website of the El Salvador Ministry of Finance, El Salvador increased its holdings by 1 Bitcoin again in the early morning of this day, and increased its holdings by 5 Bitcoin yesterday. Currently, its holdings of 6101.18 Bitcoins are worth more than US$520 million. It has increased its holdings by 13 Bitcoins in the past 7 days and 45 Bitcoins in the past 30 days.
▌ Coinbase, Robinhood CEO and other industry executives have confirmed to attend the White House Cryptocurrency Summit
According to Fox Business reporter Eleanor Terrett, although the official invitation has not been sent yet, several important industry figures have confirmed that they will attend the cryptocurrency summit held at the White House this Friday. Sources pointed out that the scale of the summit may be smaller than previously expected.
The guests who have confirmed to attend the summit include: Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, Kraken CEO Arjun Sethi, MicroStrategy founder Michael Saylor, Paradigm co-founder Matt Huang, Multicoin Capital managing partner Kyle Samani, Yield Guild Games co-founder Jp Richardson, World Liberty Fund co-founder Zach Witkoff, Chainlink co-founder Sergey Nazarov, etc.
Important economic trends
▌The probability of the Federal Reserve keeping interest rates unchanged in March is 95%
According to CME's "Federal Observation": the probability of the Fed keeping interest rates unchanged in March is 95%, and the probability of cutting interest rates by 25 basis points is 5%. The probability of maintaining the current interest rate unchanged by May is 57.4%, the probability of a cumulative interest rate cut of 25 basis points is 40.6%, and the probability of a cumulative interest rate cut of 50 basis points is 2%.
▌Analysis : The market has changed from expectation to worry, and "Trump options" disappears
Institutional analysts said that "Trump options" no longer exist. The evidence is that U.S. stocks have wiped out almost all the sharp gains since (Trump) election day, and this decline has also affected Bitcoin and other risky assets. There have been expectations for President Trump to relax regulations, tax cuts and other fiscal stimulus measures, which have now been replaced by concerns. "The chaos in the U.S. government has brought a lot of uncertainty. It's simply a Trump-induced fire," said Chris Galipeau, senior market strategist at Franklin Templeton Investments. Benoit Anne, general manager of Meisheng Investment Management, said the trade war is a risk to economic growth in the United States and other parts of the world. The stock market is reflecting this point. US stocks are no longer rising all the way, and the situation is more complex and changeable now. "The worst may be over soon, with the stock market now in a "discount promotion" state and the scope of profit growth is expanding, which is a positive factor, and mid-cap and small value stocks look particularly attractive. As AI-related transactions "lose support more and more", even the "Big Seven" in the tech industry are almost becoming good bargains."
▌Analysts : The United States may ease its tariff problem
Analyst Adam Button said the U.S. Commerce Secretary said Trump could cut tariffs on both the United States and Mexico tomorrow. This sudden change in attitude makes people wonder if this is part of the U.S. plan. The reason is that the tariff policy announced by Trump yesterday was not found on the US federal website, and the original unpublished document is available, but the release date is March 6, which may imply that the US government will have some changes or exemptions before this. The above situation may be just a bureaucratic process issue, but it still exacerbates people's confusion.
▌Federal Williams: Tariffs will have a certain impact on inflation
Fed Williams said that understanding the details of the tariffs is the key, and tariffs will have a certain impact on inflation. Begin to consider the impact of tariffs on prices. The monetary policy is in a good state and can be adjusted as needed. It is not believed that interest rate policy needs to be changed at present.
Golden Encyclopedia
▌What is DeFAI
DeFAI combines DeFi's decentralized financial ecosystem with artificial intelligence-driven analysis and automation. DeFAI is still in its early stages, focusing mainly on momentum trading similar to memecoins, so there is still a lot of room for rapid development. DeFAI represents a turning point in the Crypto asset industry.
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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