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Trump says proposed spending bill will mean "the largest tax cut in American history"
On May 1st, U.S. President Trump stated that the "big beautiful bill" currently in the works might be "bigger than tariffs." Trump praised Senate Majority Leader Thune for his work on legislation and added that Democrats are "trying to block it at every turn," warning that "if they succeed, it will mean a 58% tax increase." Trump reiterated that the proposed spending bill would mean "the largest tax cut in American history."
On May 1st, U.S. President Trump stated that the "big beautiful bill" currently in the works might be "bigger than tariffs." Trump praised Senate Majority Leader Thune for his work on legislation and added that Democrats are "trying to block it at every turn," warning that "if they succeed, it will mean a 58% tax increase." Trump reiterated that the proposed spending bill would mean "the largest tax cut in American history."
Fed's Mouthpiece: Dallas Fed's "Trimmed Mean" PCE Indicator Falls Below 2.5% Year-on-Year for the First Time Since September 2021
Ripple's Acquisition of USDC Issuer Circle Rejected
According to a report by Jinse Finance, Ripple offered $4 billion to $5 billion in an attempt to acquire stablecoin issuer Circle, but the offer was rejected due to being too low. Ripple has not yet decided whether to make another acquisition offer.
According to a report by Jinse Finance, Ripple offered $4 billion to $5 billion in an attempt to acquire stablecoin issuer Circle, but the offer was rejected due to being too low. Ripple has not yet decided whether to make another acquisition offer.
Robinhood's Q1 Crypto Revenue Doubles Year-on-Year
Robinhood announced its financial report for the first quarter of 2025, with quarterly cryptocurrency trading revenue reaching $252 million, a 100% increase year-on-year, but a decline from $358 million in the fourth quarter of 2024. During the same period, cryptocurrency trading volume was $46 billion, down from $70 billion in the previous quarter. The total cryptocurrency trading volume for the full year 2024 was $141 billion, mainly driven by a surge in the fourth quarter. The company's revenue grew by 50% year-on-year to $927 million, with diluted earnings per share of $0.37, a 10% increase year-on-year.
Robinhood announced its financial report for the first quarter of 2025, with quarterly cryptocurrency trading revenue reaching $252 million, a 100% increase year-on-year, but a decline from $358 million in the fourth quarter of 2024. During the same period, cryptocurrency trading volume was $46 billion, down from $70 billion in the previous quarter. The total cryptocurrency trading volume for the full year 2024 was $141 billion, mainly driven by a surge in the fourth quarter. The company's revenue grew by 50% year-on-year to $927 million, with diluted earnings per share of $0.37, a 10% increase year-on-year.
Offshore Yuan Falls 19 Points Against US Dollar Compared to Tuesday's New York Close
Offshore RMB (CNH) against the US dollar was reported at 7.2698 yuan at 04:59 Beijing time, down 19 points from Tuesday's New York close, with overall intraday trading in the range of 7.2598-7.2761 yuan.
Offshore RMB (CNH) against the US dollar was reported at 7.2698 yuan at 04:59 Beijing time, down 19 points from Tuesday's New York close, with overall intraday trading in the range of 7.2598-7.2761 yuan.
Tether plans to launch a new stablecoin product in the US as early as this year
Tether CEO Paul Ardoino stated in an interview with CNBC on April 30 that Tether plans to launch a stablecoin product in the United States as early as this year, with the specific timing depending on the progress of U.S. lawmakers on stablecoin legislation. He described Tether's USDT as "the best product the U.S. has ever had"—the "largest exporter" of the dollar, with a current market value close to $150 billion, accounting for about 66% of the stablecoin market share. Ardoino emphasized that Tether is actively cooperating with law enforcement agencies to demonstrate the benefits of USDT to the U.S. economy.
Tether CEO Paul Ardoino stated in an interview with CNBC on April 30 that Tether plans to launch a stablecoin product in the United States as early as this year, with the specific timing depending on the progress of U.S. lawmakers on stablecoin legislation. He described Tether's USDT as "the best product the U.S. has ever had"—the "largest exporter" of the dollar, with a current market value close to $150 billion, accounting for about 66% of the stablecoin market share. Ardoino emphasized that Tether is actively cooperating with law enforcement agencies to demonstrate the benefits of USDT to the U.S. economy.
Solana and Other Institutions Propose to the US SEC to Put US Stocks on the Blockchain to Promote Financial Innovation
According to a report by Jinse Finance, the Solana Policy Institute, Superstate Inc., Lowenstein Sandler LLP, and Orca Creative submitted a new framework to the U.S. Securities and Exchange Commission (SEC) Crypto Task Force on Wednesday, aiming to bring equity securities like stocks on-chain. This pilot project is called "Project Open," and the Solana Policy Institute stated, "Project Open represents the advancement of financial innovation in the United States," enhancing transparency in the U.S. financial markets, achieving instant settlement, and reducing costs. BlackRock CEO Larry Fink also noted, "Every stock, every bond, every fund—every asset—can be tokenized."
According to a report by Jinse Finance, the Solana Policy Institute, Superstate Inc., Lowenstein Sandler LLP, and Orca Creative submitted a new framework to the U.S. Securities and Exchange Commission (SEC) Crypto Task Force on Wednesday, aiming to bring equity securities like stocks on-chain. This pilot project is called "Project Open," and the Solana Policy Institute stated, "Project Open represents the advancement of financial innovation in the United States," enhancing transparency in the U.S. financial markets, achieving instant settlement, and reducing costs. BlackRock CEO Larry Fink also noted, "Every stock, every bond, every fund—every asset—can be tokenized."
British Media: EU Prepares "Plan B" if Trump Withdraws from Ukraine Peace Talks
According to a report by Jinse Finance, citing the Financial Times, senior EU diplomats have stated that the EU is preparing a "Plan B" in case the Trump administration abandons Ukraine peace talks and seeks reconciliation with Moscow, detailing how the EU would maintain economic sanctions against Russia. The EU's High Representative for Foreign Affairs and Security Policy, Karas, said: "Whether the Americans will leave (the negotiations) is a question. We see signs that they are considering whether they should leave Ukraine rather than trying to reach an agreement with Russia, because it is difficult." Previously, a spokesperson for U.S. Secretary of State Rubio stated: "If there is no progress, the U.S. will withdraw from the role of mediator in this process." Karas mentioned that if Hungary blocks the extension of EU economic sanctions in July, there is a "Plan B" to maintain economic pressure on Russia, but he emphasized that Brussels remains focused on keeping all member states aligned.
According to a report by Jinse Finance, citing the Financial Times, senior EU diplomats have stated that the EU is preparing a "Plan B" in case the Trump administration abandons Ukraine peace talks and seeks reconciliation with Moscow, detailing how the EU would maintain economic sanctions against Russia. The EU's High Representative for Foreign Affairs and Security Policy, Karas, said: "Whether the Americans will leave (the negotiations) is a question. We see signs that they are considering whether they should leave Ukraine rather than trying to reach an agreement with Russia, because it is difficult." Previously, a spokesperson for U.S. Secretary of State Rubio stated: "If there is no progress, the U.S. will withdraw from the role of mediator in this process." Karas mentioned that if Hungary blocks the extension of EU economic sanctions in July, there is a "Plan B" to maintain economic pressure on Russia, but he emphasized that Brussels remains focused on keeping all member states aligned.
The three major U.S. stock indices closed mixed, with the Nasdaq down 0.09%
According to Jinse Finance, the three major U.S. stock indices closed with mixed results: the Nasdaq fell by 0.09%, the S&P 500 rose by 0.14%, and the Dow Jones increased by 0.35%.
According to Jinse Finance, the three major U.S. stock indices closed with mixed results: the Nasdaq fell by 0.09%, the S&P 500 rose by 0.14%, and the Dow Jones increased by 0.35%.
US Dollar Index Rises 0.23% on April 30
The US Dollar Index rose on April 30. The index, which measures the dollar against major currencies, increased by 0.23% on the day, closing at 99.468 in the forex market.
The US Dollar Index rose on April 30. The index, which measures the dollar against major currencies, increased by 0.23% on the day, closing at 99.468 in the forex market.