US Treasury Secretary: Tariffs Announced on Wednesday are the Maximum
On April 2nd, a CNBC reporter stated on social media that US Treasury Secretary Yellen informed lawmakers that the tariffs announced on Wednesday served as a "ceiling." It was further mentioned that the tariffs to be announced tomorrow would reach the highest level, and after that, countries would be able to take measures to reduce the tariffs. (FXStreet)
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Circle to Spend $210 Million to Acquire Coinbase's Stake in the Centre Consortium
April 2nd. As per The Block, in the initial public offering (IPO) prospectus submitted on Tuesday, Circle indicated that it purchased the remaining 50% stake in the Centre Consortium for $210 million in stock during 2023. This stake was previously held by Coinbase. The Centre Consortium is a joint venture responsible for issuing the USDC stablecoin, and Coinbase and Circle were former partners in this joint venture.
In the IPO prospectus, Circle wrote in the "Significant Transactions" section: "In August 2023, concurrently with the signing of the partnership agreement, we acquired the remaining 50% stake in Centre Consortium LLC from Coinbase." Circle has now become the sole issuer of USDC and has disclosed detailed financial statements in the IPO prospectus.
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The US Retail Organization Urges Trump to Abandon Tariff Policy
On April 2nd: Prior to Trump's announcement of the tariff increase, the Retail Industry Leaders Association implored the government to shift its focus. The organization made it clear that it earnestly urged Trump to intensify his first-term policies like the Tax Cuts and Jobs Act and the United States-Mexico-Canada Agreement (USMCA), which would lead to cost reductions while achieving growth. Meanwhile, they urged Trump to abandon policies that inject uncertainty into American businesses and families. Michael Hanson, who is in charge of the organization's public affairs, stated in a statement: "Americans anticipate that Trump will assist them in making life more affordable. After experiencing years of price hikes, families also hope to have financial certainty when formulating their budgets." (FX678)
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The Uniswap DAO has voted to continue implementing its "Treasury Management Proposal" to increase governance participation.
On April 2nd, according to The Block, the Uniswap DAO has voted to move forward with its "Treasury Delegation" plan. This plan could allocate up to 18 million UNI tokens to specific delegates, with a value of approximately $1.134 billion at the current price. After a preliminary governance vote that ended on Tuesday, the proposal has received initial approval. Specific details will be worked out in the future and will be subject to final on-chain approval through voting.
Uniswap's first Treasury Delegation plan, "Delegating UNI to Active but Underrepresented Delegates," was launched in December 2023. The aim of this plan is to support "active but underrepresented delegates" in voting who hold UNI tokens.
The Tane Delegate Platform stated in the proposal: "This plan is of great significance for maintaining governance health and retaining active and capable delegates." It referred to data from the previous round of funding support and noted that after the plan's launch, "all delegates
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GameStop has completed a $1.3 billion convertible notes offering and may soon purchase Bitcoin
On April 2nd, as per CoinDesk, GameStop (GME) has successfully completed a five-year convertible bond issuance worth $1.3 billion and is seemingly on the verge of or has already started engaging in Bitcoin (BTC) purchases.
According to a filing made in the after-market on Monday, the underwriters have fully exercised a $200 million overallotment option, resulting in the total offering size reaching $1.5 billion. After deducting expenses, the company's net proceeds amount to $1.48 billion.
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