Use GHO stablecoin as gas for scalable, fast and low-cost transactions.

Amid the trade war and a new round of tariffs, several companies are considering postponing their initial public offerings (IPOs). These include social trading platform eToro Group, medical technology company Medline, virtual physical therapy company Hinge Health, fintech company Chime, and crypto company Circle. Chime has decided to postpone publicly submitting financial documents to regulators, thereby delaying its IPO process. Circle, which had previously been actively preparing for its IPO, is now cautiously watching the market trend.

Alon, co-founder of pump.fun, tweeted that the Pump Fun live broadcast function has been launched to 5% of users and a live broadcast review policy has been formulated. Violation of this policy may result in the termination of the live broadcast and user account.

The three major U.S. stock indexes closed sharply lower, with the S&P 500 falling 5.97%, the largest single-day drop since March 2020; it closed down 9.08% this week, the largest single-week drop since March 2020. The Nasdaq fell 5.82%, more than 20% below its record high, confirming that it has entered a technical bear market. The Dow fell 5.50%, closing more than 10% below its record high, confirming that it has entered a correction range.

Arthur Hayes tweeted that Bitcoin holders need to learn to embrace tariff policies, and perhaps Bitcoin has finally broken its association with Nasdaq and become the purest "smoke alarm" for fiat currency liquidity.

According to an official announcement, Coinbase will launch the first US-regulated 24x7 Bitcoin and Ethereum futures contracts through its derivatives division, and trading will begin on May 9.

According to on-chain analyst Yu Jin, 2 hours ago, the whale/institution that has been selling IMX recently continued to transfer 9.03 million IMX (US$4.05 million) in the same way: first deposited into FalconX, and then from FalconX to Binance. The whale/institution sold a total of 26.2 million IMX (US$13.72 million) in the past 9 days, and the price of IMX fell by 39% (US$0.72 → US$0.44).

According to an official announcement, PayPal announced that cryptocurrencies Chainlink (LINK) and Solana (SOL) will be available for PayPal and Venmo users to buy, hold, sell, and transfer directly in their respective accounts.

Tether CEO Paolo Ardoino said he does not mind USDT being banned in the United States due to new regulations. Tether is actively considering creating a new stablecoin registered in the United States and will comply with the upcoming US stablecoin law. "We need two products with different value propositions." Ardoino believes that USDT is more suitable for emerging markets and said that USDT may no longer dominate the United States and Europe in the future.

Solana-based DeFi protocols, including Pump.fun, Jito, and Raydium, generated a cumulative revenue of approximately $42 million in March. This is down about 55% from February and about 75% from the all-time high in January. On BNB Chain, Pancakeswap generated only $21 million in revenue in March, down 54% month-over-month. Meanwhile, Ethereum-based DeFi protocols include Ethena, Lido, Aave, Curve, Compound, and Sushi. This group of protocols generated a cumulative revenue of only $24.5 million in March, down 52% and more than 65% since February and January, respectively. MakerDAO (now known as Sky) saw a month-over-month increase in revenue, with $10 million in revenue in March, an increase of 11%. MakerDAO (Sky) is the only protocol of the 11 protocols mentioned so far to have a month-over-month increase in revenue.

The U.S. Securities and Exchange Commission's Division of Corporation Finance issued a statement on stablecoins, stating that under current regulations, certain types of crypto assets (i.e., "Covered Stablecoins") are not securities, and persons involved in the process of "minting" and exchanging stablecoins do not need to register these transactions with the Commission under the Securities Act, nor do they need to comply with one of the registration exemptions under the Securities Act. Covered Stablecoins are a type of currency designed to maintain a stable value relative to the U.S. dollar or "USD" on a one-to-one basis, which can be exchanged for US dollars on a one-to-one basis (i.e., one stablecoin for one dollar) and is backed by assets held in reserves that are considered low-risk and easy to liquid, and whose dollar value meets or exceeds the redemption value of the stablecoins in circulation. This type of stablecoin is mainly used for payment, transfer and storage of value, not as an investment tool, and its sale and trading do not involve the provisions of securities laws.

According to Jinshi, Fed Chairman Powell gave a speech on the economic outlook. He said that the current situation is different from the 1970s. People are facing the risk of higher unemployment and higher inflation, which is a challenge for the Fed. There may be tension between the two goals (employment and inflation), but not as we see now. The Fed's responsibility is to restore economic stability no matter what happens. Independence is essential for the Fed. (Dealing with) problems brought about by trade policy, energy policy, climate change and immigration are not the responsibility of the Fed. The Fed cannot participate in issues that are not assigned to us. The Fed does not need to rush to act, we have time. It is not clear what the appropriate policy is, and the Fed will wait and see before adjusting its policy.

According to Cailian Press, Federal Reserve Chairman Jerome Powell said in a speech that the uncertainty of the new tariff policy will decline at some point, and the uncertainty should be much lower after a year. Now is a good time to step back and let the situation settle. The Federal Reserve is in a good position to deal with any possible situation.

Fed Chairman Jerome Powell spoke on the economic outlook, saying that by many indicators, the labor market appears to be roughly balanced and is not a significant source of inflationary pressure. Today's employment report showed that the unemployment rate was 4.2% in March, still at a low level since early last year. In the first quarter, employment growth averaged 150,000 jobs per month. The combination of low layoffs, slowing job growth and labor force growth has kept the unemployment rate roughly stable.

According to Jinshi, Federal Reserve Chairman Powell said that the offsetting effects of weak economic growth and rising inflation will allow the Fed to maintain its expectation of two interest rate cuts in 2025.

Fed Chairman Jerome Powell said in a speech that hard data points to a slower but still solid growth outlook. The labor market appears to be roughly balanced. Despite high uncertainty, the U.S. economy is still in good shape.

According to Jinshi, Federal Reserve Chairman Jerome Powell said that President Trump's tariffs exceeded expectations and could lead to higher inflation and slower economic growth. The Federal Reserve has an obligation to keep inflation expectations stable and is ready to consider adjustments.

According to Jinshi, Trump called on Federal Reserve Chairman Powell to cut interest rates as soon as possible, saying that now is the best time to cut interest rates. He believed that Powell "always moves too slowly" and urged Powell to stop "playing politics."

According to market sources, Swedish payment giant KLARNA suspended its IPO after Trump imposed tariffs.