Goldman Sachs CEO: Very Low Possibility of US Economic Recession

On March 4th, in response to the rumor that the Trump administration was planning to announce a zero capital gains tax policy on cryptocurrency sales at the crypto summit on Friday, Adam Cochran, a partner at Cinneamhain Ventures, stated: "Mike blocked me for repeatedly fact-checking him, but that won't deter me. The President doesn't have the authority to unilaterally change the tax law. Only Congress can do that. This is one of the few powers that the Constitution clearly reserves for Congress. Even if the President were to make such an announcement or attempt to sign an executive order for it, it wouldn't become law. It's no more valid than if I were to claim to be a sponge cake."

March 4th. On March 3rd, in local time, the White House made a confirmation that starting from 12:00 a.m. Eastern Time on March 4th in the United States and 11:00 p.m. on March 3rd in Mexico, the United States will impose a 25% tariff on goods imported from Mexico and Canada. U.S. President Trump declared on the 3rd that the 25% tariff on goods from Mexico and Canada will come into effect on March 4th. Trump emphasized that there is no possibility of reaching a consensus on tariffs for Mexico and Canada. (FX678)

On March 4th, the Bitcoin mining firm Argo Blockchain announced that it had entered into a $40 million senior secured convertible loan agreement. The initial financing was $15 million, and the remaining $25 million was to be funded within the next 18 months. Three multinational institutions participated in the investment (the specific institution names have not been disclosed at present) and would join Argo's board of directors. The new funds would be used to expand its mining facility in Baie Comeau, strengthen its balance sheet, and pursue a series of potential merger and acquisition transactions.

On March 4th, Julio Moreno, the Research Director of CryptoQuant, posted on social media, saying, "The tariffs imposed by Trump have brought an excessive amount of uncertainty to the global economy. If the tariffs persist for a long time, the likelihood of an economic recession is rather high." "Even though there is a positive regulatory environment and progress in US cryptocurrency reserves, this still has an impact on the price of Bitcoin and cryptocurrencies."

On March 4th, Cameron Winklevoss, a co-founder of Gemini, stated in a social media post that he is "enthused about the cryptocurrency strategic reserve plan but astonished by the digital assets under consideration. Bitcoin is the sole asset that fulfills the standard of a value reserve asset, and perhaps Ethereum also meets it. Digital gold and digital oil. This is analogous to the United States' physical reserve of gold (such as the Kentucky gold depository, the New York Federal Reserve Bank, etc.) and oil (strategic petroleum reserve). In the future, other assets may also attain this standard, but it is a very high threshold." That being said, "if the government were to obtain other digital assets (e.g., XRP, ADA, or SOL) through means like seizure or confiscation, I think this kind of storage would be acceptable, which is fundamentally distinct from actively purchasing these assets in the open market."

On March 4th, as monitored by @ai_9684xtpa, the "Ethereum ICO 560K ETH Ancient Whale" transferred 6022 ETH to an address associated with the Ethereum Foundation two hours ago, approximately $12.34 million. The funds are currently not being moved or interacted with. This ICO whale had previously distributed ETH to 4 addresses. A total of 105,522 ETH was transferred to the current address over the past two years, and it was mostly used for various LRT protocol staking. Currently, there are still 280K ETH with a cost basis as low as $0.31 stored in three addresses: · Multi-sig address 0x207...6a7f7, holding 139,678 ETH. · Multi-sig address 0xe08...5ca18, holding 55,000 ETH. · Address 0x22d...01246 (that is, the Ethereum Foundation associated address), holding 85,622 ETH. This address previously received a transfer of 4 million DAI from the Ethereum Foundation on May 10, 2022.