Trump Threatens to Increase EU Tariffs, EU Claims Move Targets German Car Makers

On May 4, Tether Gold (XAUT)—the world’s leading tokenized gold product—announced its underlying gold reserves surged 36% in Q1 2026 from the prior quarter, topping $3.3 billion in total value. The growth was fueled by record-high gold prices and growing investor demand for safe-haven assets amid persistent macroeconomic uncertainty. Tether CEO Paolo Ardoino noted XAUT’s growth signals a broader structural shift: investors are increasingly seeking programmable, liquid exposure to gold. Gold is transitioning from a passive store of value to a fully backed financial instrument that can be transferred and settled in real time. The reserves are held in Switzerland and adhere to the London Bullion Market Association’s (LBMA) "London Good Delivery" standards. XAUT operates as a regulated stablecoin issuer under El Salvador’s "Digital Assets Issuance Law."

On May 4, chain analytics detective ZachXBT announced he would take action against Tokenlon DEX—the in-app exchange built into imToken—per GMGN data. Following the announcement, Tokenlon’s native token LON dropped ~8%. However, LON has been in a long-term downtrend since November 2024, with a cumulative 75% decline and a current market cap of $31.87 million. Data shows the LON/ETH pool on Ethereum’s Uniswap sees only single-digit daily average transactions. Its 24-hour trading volume was $47,000 (an 8,958% 24-hour increase). As of press time, Ben He has not responded to ZachXBT’s allegations. His last active tweet dates back to November 2024.

May 4th (Reuters) — The U.S. Securities and Exchange Commission (SEC) has delayed its review of the first batch of predictive market ETFs, pushing back the launch of more than 24 products that were originally set to debut last week. Sources familiar with the matter said the SEC is seeking additional clarification from issuers on product mechanics and disclosure specifics, adding the delay is expected to be temporary. Issuers including Roundhill Investments, Bitwise Asset Management, and GraniteShares filed applications in February to launch ETFs tied to real-world events such as election outcomes, economic downturns, tech layoffs, and oil prices. Under SEC rules, ETF applications typically go into effect automatically 75 days after filing (with the original deadline falling this week) unless the regulator intervenes. Roundhill has set May 5th as its effective date, while Bitwise and GraniteShares’ products are also expected to launch around the same time. Bloomberg ETF analyst

May 4 — On-chain detective ZachXBT took to social media to declare war on Tokenlon DEX, the built-in exchange of imToken. ZachXBT claimed the bulk of Tokenlon’s trading volume stems from rug pulls, investment scams, and the dark web, adding that imToken co-founder Ben He should spend the rest of his life in prison. He also announced plans to target Tokenlon and imToken in the future. Per ZachXBT, Tokenlon has minimal to no legitimate trading volume outside Southeast Asia, with a large share of its activity tied to illicit fund flows — a situation that has worsened since 2022. He also stated that offshore “whale” Chinese exchanges Butter Network, HiFiSwap, Bridgers/SWFT, and Tokenlon must face severe punishment for their alleged criminal activities.

On May 4, AXIOS reported that a U.S. official said U.S. military rules of engagement in the Middle East have changed—authorizing strikes on vessels crossing the Strait of Hormuz that pose a direct threat, including Iranian Revolutionary Guard fast boats and Iranian missile sites.

May 4 (Yonhap News) — South Korea’s Digital Asset Exchange Association (DAXA), representing 27 registered Virtual Asset Service Providers (VASPs), has filed objections with the Financial Services Commission (FSC) and Financial Intelligence Unit (FIU) over proposed amendments to the Enforcement Decree of the Specific Financial Information Act. The new rules would require domestic VASPs to submit Suspicious Transaction Reports (STRs) for all cross-border virtual asset transfers with overseas VASPs exceeding 10 million Korean won (≈$8,600) — regardless of risk level. DAXA warns this would send annual STR volumes for the country’s top five exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax) soaring from roughly 63,000 last year to over 5.4 million, making compliance practically unfeasible. The industry also pushes back against proposed customer information accuracy verification requirements, arguing the draft imposes obligations not clearly defined in law. The backlash comes amid ongo