Lookonchain APP

App Store

Former Treasury Secretary Downplays Economic Recession Concerns, Calls Stock Market Pullback a Natural Phenomenon

2025.03.14 02:24:27

March 14: Former U.S. Treasury Secretary Mnuchin downplayed the risk of a U.S. economic recession and played down the current stock market sell-off, viewing it as an adjustment in response to U.S. President Trump's aggressive trade policy. Mnuchin stated in an interview on Thursday, "We entered the market when it was already fully priced. Therefore, I think a 5% to 10% adjustment in the S&P index or Nasdaq index is actually reasonable." "The market has indeed been driven by a significant amount of tech spending, particularly in artificial intelligence. To a certain extent, this is a natural adjustment in the market," Mnuchin said. "Some of it is the market's concern about tariffs and their implications." He advised investors not to "overreact." He said, "I don't think we will enter a recession at all. As we reduce government spending, the economy may slow down slightly, but I don't think investors should be worried about an economic recession." He also mentioned that the current biggest concern is the U.S.'s substantial fiscal deficit and called on Republicans to extend Trump's 2017 tax cuts to mitigate the impact on borrowing. (FXStreet)
Relevant content

Binance will suspend Highstreet (HIGH) and Resolv (RESOLV) deposits and withdrawals on the Binance Smart Chain (BSC).

Per an official Binance announcement dated April 16, Binance will suspend deposits and withdrawals for Highstreet (HIGH) and Resolv (RESOLV) on the Binance Smart Chain (BSC) starting at 08:00 UTC on April 23, 2026.

1 seconds ago

Naver is planning to pursue a separate IPO for its Fintech division

April 16 — Naver, South Korea’s largest internet technology firm, plans to take its fintech unit Naver Financial public via an initial public offering (IPO). The move follows a recent strategic partnership between Naver and Dunamu, parent company of cryptocurrency exchange Upbit. Naver aims to list Naver Financial independently to expand its footprint in payments, digital finance, and crypto, leveraging Dunamu’s resources to boost competitiveness. Currently, Naver competes fiercely in South Korea’s fintech market against rivals like Kakao, with offerings including Naver Pay.

1 seconds ago

Financial Compliance Startup Spektr Raises $20 Million in Series A Funding, Led by New Enterprise Associates

April 16 — Financial regulatory compliance startup Spektr has closed a $20 million Series A funding round, led by New Enterprise Associates (NEA) with participation from Northzone, Seedcamp, and PSV Tech. To date, the company has raised a total of $26 million. Spektr’s core offering is AI agent-powered compliance services for crypto wallet providers (including Phantom) and traditional financial institutions, covering risk assessment and sanctions screening.

1 seconds ago

Morgan Stanley to Prioritize RWA as Global Business Focus, Planning to Launch Institutional Digital Wallet in the Second Half of the Year

April 16 — J.P. Morgan Chase announced that Real World Asset Tokenization (RWA) has emerged as the “next major step” for its global business, and the firm has integrated RWA into its strategic focus on upgrading traditional financial infrastructure via blockchain. The bank plans to integrate traditional assets with digital assets under regulatory oversight, advance near-real-time on-chain settlement, and launch an institutional digital wallet in the second half of 2026. This wallet will support tokenized traditional investment products as well as crypto assets including BTC, ETH, and SOL. J.P. Morgan also intends to push forward with the tokenization of private equity in the secondary market and develop on-chain and off-chain settlement processes.

1 seconds ago

S&P Top 1 Holding Long Hopes to Outperform Stock Market, Loses $4.32 Million Next Week

April 16 – Per HyperInsight monitoring (via Telegram: https://t.me/HyperInsight), a former "ZEC Maxi Short" whale opened a $56.2 million long position in the S&P 500 last week, betting on continued U.S. stock market gains. The S&P 500 surged above 7,000 intraday to a new high, netting the whale ~$1.32 million in unrealized profits on the long position. Separately, the whale holds a $28.2 million crypto short position covering 14 tokens, with heavy concentration in HYPE and ZEC. Amid HYPE’s recent sharp rally, the HYPE short alone posted a $2.56 million unrealized loss — the single largest driver of red ink. After offsetting gains and losses, the account’s net loss topped $4.32 million over the past week (averaging ~$500k/day) — even though the crypto short position was only half the size of the S&P 500 long. Whale address: 0xd47587702a91731dc1089b5db0932cf820151a91

1 seconds ago

Veteran Meme Coin 'Renaissance' Witnesses Over 100% Surge in a Single Day

As of April 16th, HTX market data shows veteran meme coin “Renaissance” extending its rally, with the following tokens leading the market: - ERC-20 inscription ORDI has surged over 100% in the past 24 hours, now trading at $5.14; - DeSci token BIO is up 90.5% in the same period, currently priced at $0.04; - Inscription Dragon II SATS has gained 57% over 24 hours, now at 0.000018 USD; - Veteran meme coin NEIRO has risen 40.1% in the past day, trading at 0.000091 USD; - ARKM is up 35.6% in 24 hours, now at $0.136.

1 seconds ago