Trader Increases Bet on European Central Bank Rate Cut

On April 2nd, the American Bitcoin, a bitcoin mining enterprise jointly established by Hut 8 and the data infrastructure company American Data Centers led by the Trump family, is planning to go public and may introduce private placements before that. Hut 8's CEO Asher Genoot stated in a Bloomberg TV interview that the future goal is to build a vertically integrated enterprise structure composed of "two sister public companies." One part focuses on energy, data centers, and infrastructure, while the other part focuses on the crypto business and bitcoin mining. Prior to this, on March 31st, Hut 8 announced the acquisition of an 80% stake in American Data Centers, which was subsequently renamed American Bitcoin and operated independently, with President Trump's eldest son Donald Trump Jr. and second son Eric Trump leading.

On April 2nd, according to The Wall Street Journal: It was disclosed by sources that the Office of the United States Trade Representative (USTR) is formulating a new tariff option for Trump. That is, to impose comprehensive tariffs on some countries, and the tariff rate may not be as high as the commonly applied 20% tariff. (FX168)

On Tuesday, April 2nd, the US stock market closed. The Dow Jones Industrial Average initially showed a decrease of 0.03%. The S&P 500 Index witnessed an increase of 0.38%, and the Nasdaq rose by 0.87%. Newsmax, a right-wing media outlet with ties to Trump allies, saw a surge of 2240% in its first two days of trading. Today, it further gained 180% and reached a market valuation of $30 billion. (Golden Ten)

On April 2nd, Kristin Smith announced on the X social platform that she will officially resign as the CEO of the Blockchain Association on May 16, 2025. Then, on May 19, she will join Solana and serve as the president of the Solana Policy Research Institute, guiding its policy strategy layout. Smith reviewed the industry advocacy and regulatory dialogues she had led during her tenure. She stated that although she is leaving her current position, it is not a farewell to the crypto industry but a "change of perspective." Currently, the Blockchain Association Board of Directors has initiated the process of selecting the successor to the CEO.

On April 2nd, according to market intelligence, the stablecoin issuer Circle is reported to have filed an S-1 with the U.S. Securities and Exchange Commission (SEC), commencing the initial public offering (IPO) process. The company intends to list on the New York Stock Exchange under the ticker symbol "CRCL".

On April 2nd, the U.S. Securities and Exchange Commission (SEC) Cryptocurrency Specialized Task Force announced after the first roundtable meeting that it will hold four more meetings in the first half of this year to have in-depth discussions on aspects such as crypto trading, custody, asset securitization, and decentralized finance. The four meetings will be held on the following dates with their respective themes: April 11th - "Between Blocks and Regulation: Tailoring Rules for Crypto Trading", April 25th - "Know Your Custodian: Key Considerations for Crypto Asset Custody", May 12th - "Asset Securitization: The Intersection of Traditional Finance and DeFi", and June 6th - "DeFi and the American Spirit". The head of the task force, Commissioner Hester M. Peirce, said: "These roundtable meetings enable us to listen to expert opinions, clarify regulatory challenges, and discuss the SEC's response strategies." All roundtable meetings will be live-streamed to the public.