In another tumultuous trading day, the S&P 500 index recovered from a 1% decline triggered by weak manufacturing and employment data.
Trump will announce the latest tariff details at 4 AM on Thursday, according to a White House spokesman, indicating that these tariffs will take effect immediately. Bitcoin surged above 85K yesterday alongside U.S. stocks, while the leading stablecoin Tether confirmed its purchase of 8,888 bitcoins in the first quarter.
Tariffs will take effect immediately! Trump to announce at 4 AM on Thursday
For investors, this is a dizzying time as they prepare for Trump’s tariffs. As the deadline approaches, it remains unclear to what extent he will overturn the current rules-based global trading system. This uncertainty has shaken the markets, prompting economists to revise down growth forecasts and forcing central banks to consider the inflationary impact that import costs may bring.
White House spokesperson Karoline Leavitt stated on Tuesday that President Trump will impose new tariffs on a wide range of trading partners, effective April 2.
Trump is considering a range of measures, including potentially imposing a 20% tariff on nearly all trading partners, progressive tariffs, or customized tariff measures targeting specific countries. It is anticipated that Trump will announce the details of the new tariffs at 4 AM Taiwan time on Thursday.
Tether bought 8,888 bitcoin in Q1
According to its reserve strategy, Tether acquired 8,888 bitcoins (valued at approximately $735 million) in the first quarter of 2025, bringing its total holdings to 92,646 bitcoins, valued at approximately $7.8 billion, making it the sixth largest holder in a single wallet.
Tether began acquiring bitcoin in September 2022 and officially announced in May 2023 that it would allocate 15% of its realized net operating profit each quarter to purchase bitcoin, further strengthening and diversifying its reserves.
At current prices, Tether’s unrealized gains on its bitcoin holdings amount to about $3.86 billion.
Tether remains one of the most profitable companies in the cryptocurrency space. Its net profit for the full year of 2024 is projected to be $13 billion, of which $7 billion comes from U.S. Treasury yield, and $5 billion from unrealized gains on gold and bitcoin holdings, while other traditional investments contributed another $1 billion.
Tether bought 8,888 bitcoin in Q1, bringing its total holdings to $7.8 billion — the sixth largest in a single wallet https://t.co/ghTAMGrDaF
— Paolo Ardoino (@paoloardoino) April 1, 2025
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