Daily Report | Cantor will collaborate with SoftBank and Tether to establish a $3 billion cryptocurrency joint venture; Galaxy Digital will exchange $100 million in ETH for SOL
April 23 News OverviewOrganizer: Jerry, ChainCatcher
Important News:
- Cantor to Partner with SoftBank and Tether to Establish $3 Billion Crypto Joint Venture
- Trump: No Intention to Fire Powell, Calls for Fed Rate Cuts
- Galaxy Digital Converts $100 Million ETH to SOL, On-chain Data Shows Major Strategy Shift
- Trump: Tariffs on China Will Decrease Significantly, But Not to Zero
- Malaysian Prime Minister Meets Binance Founder Zhao Changpeng to Promote Blockchain and Tokenization Adoption
- Bloomberg: Details on U.S. Strategic Bitcoin Reserves May Be Announced in Coming Weeks
- New SEC Chair: Will Ensure the U.S. Becomes "The Best and Safest Place in the World" for Crypto
"What Important Events Happened in the Last 24 Hours"
Cantor to Partner with SoftBank and Tether to Establish $3 Billion Crypto Joint Venture
According to FT, three insiders revealed that U.S. Commerce Secretary Howard Lutnick's son, Brandon Lutnick, is collaborating with SoftBank, Tether, and Bitfinex to create a multi-billion dollar Bitcoin acquisition platform. The platform raised $200 million in January and will use these funds to establish a new company named 21 Capital, which will acquire $3 billion worth of Bitcoin from other investors and companies. Tether will contribute $1.5 billion in Bitcoin, while SoftBank and Bitfinex will contribute $900 million and $600 million, respectively.
Trump: No Intention to Fire Powell, Calls for Fed Rate Cuts
U.S. President Trump stated during the swearing-in ceremony of SEC Chair Atkins on Tuesday that he has no intention of firing Fed Chair Powell, despite his disappointment over the Fed not cutting rates faster.
"Never," Trump told reporters, "the media always makes a mess of things. I have no plans to fire him. I hope to see him be more aggressive about lowering rates." Trump noted, "Grocery prices are down, everything is down. The only thing that hasn't gone down but hasn't really gone up is interest rates." Trump stated, "We believe the Fed should lower rates; now is a perfect time. We hope our Chair can do it early or on time, not late." Trump also mentioned that the stock market is performing well.
Galaxy Digital Converts $100 Million ETH to SOL, On-chain Data Shows Major Strategy Shift
According to CoinDesk, Mike Novogratz's Galaxy Digital transferred 65,600 ETH (approximately $105 million) to Binance in the past two weeks and withdrew 752,240 SOL (approximately $98.37 million), indicating a significant asset restructuring.
This move comes as ETH has dropped nearly 20% in the past month, while SOL has risen about 8%. A recent report from Standard Chartered indicated that ETH faces "structural downside" and lowered its year-end price target.
Arkham data shows that Galaxy currently holds approximately $87.9 million in ETH and $23.86 million in SOL. The Solana ecosystem continues to expand, with DEX trading volume surpassing $500 billion in three months, far exceeding Ethereum's $400 billion, and the number of active addresses has exceeded 220 million.
Trump: Tariffs on China Will Decrease Significantly, But Not to Zero
According to Sohu News, U.S. President Trump stated that the current high tariffs on China will decrease significantly but will not go to zero. He will adopt a friendly approach in negotiations with China rather than a tough stance.
Earlier, U.S. Treasury Secretary Mnuchin stated at a closed-door investor meeting that the U.S.-China trade war is unsustainable and he expects it to ease. This statement led to a significant rebound in the U.S. stock market.
Malaysian Prime Minister Anwar Ibrahim met with Binance founder Zhao Changpeng to promote the adoption of blockchain and tokenization. This meeting highlights Malaysia's goal of becoming a regional blockchain innovation hub. Anwar pledged to work closely with regulators to establish a favorable legal framework to support and promote the development of digital assets. This visit is part of Zhao's strategy to strengthen relationships with emerging markets in digital finance policy.
Bloomberg: Details on U.S. Strategic Bitcoin Reserves May Be Announced in Coming Weeks
In early March, Trump signed an executive order proposing the establishment of a national Bitcoin reserve and strategic reserves for other tokens, requesting the Treasury Secretary to submit an assessment report on the legal and investment feasibility of the plan within 60 days. With less than two weeks remaining until the 60-day deadline set by Trump's executive order, this indicates that more details on the U.S. Bitcoin reserves are about to be disclosed, and the market's anticipation of this matter may be one of the important catalysts for the recent rebound in crypto assets. Additionally, any comments questioning the independence of the Fed have also had a positive spillover effect on Bitcoin.
New SEC Chair: Will Ensure the U.S. Becomes "The Best and Safest Place in the World" for Crypto
According to ibtimes, new SEC Chair Paul Atkins stated in his inaugural speech that his top priority during his tenure is to provide a solid regulatory foundation for digital assets in a reasonable, coherent, and principled manner. He committed to transforming the regulatory approach of financial regulatory agencies towards digital assets into a "rational" one. He will strive to ensure that the U.S. becomes "the best and safest place in the world" for crypto operations and activities.
"What Interesting Articles Are Worth Reading in the Last 24 Hours"
SOL Returns to $150, Upexi Becomes "Solana's MicroStrategy," Is Unlimited Growth About to Begin?
Will Upexi's aggressive entry trigger a new wave of value for Solana?
A $3 billion Bitcoin investment collaboration, backed by established investment banks, crypto giants, and political resources.
Arthur Hayes: Trump's Tariffs Trigger Market Avalanche, Bitcoin Bottom Has Appeared
Trump's tariff policy triggered a market avalanche, with Bitcoin becoming a direct beneficiary of liquidity injections, leading the market's recovery, and it may usher in an altcoin season.
Circle Releases "Stablecoin Payment Network" White Paper
Circle is building an open technology platform centered around USDC.
Is Google's MCP Protocol Becoming the Golden Communication Standard for Web3 AI Agent Development?
The intuitive feeling is that "it's not a good fit."
Trump "Backtracks": No Plans to Fire Powell, Now Is an Excellent Time for Rate Cuts
This statement aims to ease market tensions and marks a significant shift in Trump's attitude.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of April 23, 19:50:
In the past 24 hours, the top five popular Ethereum tokens are: SPX, NEIRO, MOONKIN, ATX, Mog
In the past 24 hours, the top five popular Solana tokens are: SOL2, CAPY, Fartcoin, NFTLX, REVS
In the past 24 hours, the top five popular Base tokens are: VIRTUAL, PUCHI, USDT, BRETT, EURC
