SoSo Daily Apr 5 | Powell: President Trump's new tariffs "exceeded expectations"

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 23:50 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is PumpBTC. As of 23:50 today, its market cap is 13.68M, with a coin price of 0.048000 USD, witnessing a 24-hour increase of 380%.
The second is bAI Fund. As of 23:50 today, its coin price is 0.0049400 USD, with a 24-hour increase of 349%.
The third is Amnis Finance. As of 23:50 today, its coin price is 0.071690 USD, showing a 24-hour increase of 32%.
In fourth place is tomiNet. As of 23:50 today, its coin price is 0.0034340 USD, with a 24-hour rise of 27.4%.
In fifth place is LUCE. As of 23:50 today, its coin price is 0.011890 USD, increasing by 24.4% over the last 24 hours.




Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:According to Reuters, Federal Reserve Chairman Jerome Powell stated on Friday that President Trump's new tariffs are "beyond expectations," and their economic impact may also include rising inflation and slowing growth, noting that the central bank may face a series of tough decisions in the future. In prepared remarks, Powell said, "We face a highly uncertain outlook, with risks of rising unemployment and inflation both elevated," which could undermine the Federal Reserve's dual mandate of a 2% inflation rate and maximum employment. Powell indicated that while the tariffs are likely to lead to a temporary rise in inflation, their effects may also be more lasting. Avoiding such an outcome depends on stabilizing long-term inflation expectations, the magnitude of the impacts, and how long it takes for these effects to fully transmit to prices. It is our obligation to stabilize long-term inflation expectations and ensure that one-time price increases do not become a persistent inflation problem. The Federal Reserve's responsibility is not to comment on the policies of the Trump administration but to respond to how these policies may affect the economy. We are closely monitoring the tension between hard data and soft data. As new policies and their potential economic impacts become clearer, we will gain a better understanding of their implications for the economy and monetary policy. Although uncertainty remains high, it is becoming increasingly clear that the magnitude of the tariff increases will far exceed expectations. The same may apply to economic impacts, including rising inflation and slowing growth.
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The United States announced a seasonally adjusted non-farm payroll of 228 thousand for March, an increase higher than the market expectation of 135 thousand. The previous value was revised from 151 thousand to 117 thousand. The unemployment rate in the U.S. for March rose to 4.2%, expected at 4.1%, with the previous value at 4.10%.

Next news:Codex, a startup focused on creating a blockchain for enterprise stablecoins, has secured $15.8 million in seed funding led by Dragonfly Capital. The funding round also saw participation from Cumberland, Wintermute, and the co-creators of USDC, Coinbase, and Circle. Codex's network is an Ethereum Layer 2 using Optimism's technology, aiming to address issues like UX friction and regulatory compliance for businesses. The platform is designed to offer privacy, low fees, and reliable fiat conversion options, enhancing its appeal for corporate use.
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According to TechFlow's report on April 4, based on CME's "Fed Watch": The probability of the Federal Reserve maintaining the interest rate in May is 56.7%, down from 60.1% before the non-farm payroll report. The probability of a 25 basis point rate cut is 43.3%. The probability of the Federal Reserve keeping the interest rate unchanged until June is 0, while the cumulative probability of a 25 basis point cut is 52.1%, a 50 basis point cut is 44.3%, and a 75 basis point cut is 3.5%.

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According to Wu, the Ethena stablecoin USDe has officially launched on the BNB Chain. USDe and sUSDe can be used in PancakeSwap, Venus Protocol, and Pendle BNB deployments, allowing users to exchange, lend, and save on the BNB Chain.

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Federal Reserve Chairman Jerome Powell stated that the Fed will not change interest rates until there is a clearer understanding of the ultimate impacts. Weak economic growth and rising inflation offset each other, leading the Fed to maintain its expectation of two rate cuts in 2025. "Our obligation is to keep long-term inflation expectations stable and to ensure that a one-time price increase does not become a persistent inflation issue. It is best for us to wait for more clear information before considering adjustments to our policy stance. It is still too early to say what the appropriate path for monetary policy is."

Next news:According to Wu, Trump has once again urged Federal Reserve Chairman Jerome Powell to lower interest rates as soon as possible, stating that it is the "perfect time" and criticizing Powell for being "always too slow to act." He pointed out that energy prices, interest rates, and inflation have all decreased, employment is on the rise, and even egg prices have dropped by 69%, urging Powell to "stop the political manipulation."
Next news:The Chair of the U.S. House Financial Services and Agriculture Committees has proposed six principles regarding digital asset legislation. These principles aim to provide a clear legal framework for the digital asset market to foster innovation and protect investor interests. The specific principles include: ensuring market transparency, enhancing consumer protection, promoting financial stability, supporting technological innovation, ensuring market competition, and strengthening international cooperation. This move is seen as an important step for the U.S. in the digital asset space and may have far-reaching impacts on the global digital asset market.
Next news:Bitcoin falls below 82,000 USDT

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.