Wu's Daily Selected Encryption News + This Week's Macroeconomic Indicators

1. China and the United States reached a temporary tariff suspension protocol: both sides will suspend the implementation of the 24% tariff for an initial period of 90 days.

The United States and China issued a joint statement at the Geneva Economic and Trade Talks, suspending the 24% tariffs for the first 90 days, while retaining the remaining 10% of the tariffs on these goods as set out in the executive order. The U.S. will lift the tariffs imposed on China by lifting the April 8 and April 9 executive orders. China will suspend or cancel its non-tariff countermeasures against the U.S. from April 2. CICC analysis pointed out that the previous expectation was to drop to 80% (Trump's statement last week) or 54% (20% fentanyl + 10% equivalent), but this time it was directly reduced to 30% (20% fentanyl + 10% equivalent, 24% waived for 90 days). As a result, market sentiment has improved significantly.

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2. This week's large token unlocks

In the next 7 days, single large unlocks (unlock amount greater than 5 million USD) include CONX FTN APT ARB AVAX ZKJ STRK IMX SEI APE MELANIA BB CYBER XCN, while linear large unlocks in the next 7 days (daily unlock amount greater than 1 million USD) include SOL WLD TIA DOGE TAO AVAX SUI DOT IP MORPHO NEAR ETHFI JTO FIL ENS SEI, with a total unlock value exceeding 774 million USD.

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3. Strategy increased holdings of 13,390 Bitcoins from May 5 to May 11.

Strategy purchased 13,390 bitcoins between May 5 and May 11, at an average price of $99,856 per coin, totaling $1.34 billion. As of May 11, 2025, Strategy holds a total of 568,840 bitcoins, with a purchase cost of approximately $39.41 billion and an average purchase price of $69,287.

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4. CryptoQuant Founder: It is highly likely that "dark" stablecoins will emerge in the future.

Ki Young Ju, founder and CEO of CryptoQuant, tweeted that "dark" stablecoins are likely to emerge in the future. There are two ways to create a dark stablecoin:1. algorithmic stablecoins that are not controlled by the government; 2. Stablecoins issued by countries that do not perform financial scrutiny. USDT was once considered a censorship-resistant stablecoin and could be considered a "dark stablecoin" if Tether refuses to cooperate with U.S. regulation in the future during the Trump administration.

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5. Lido DAO initiates an emergency vote to replace the Chorus One oracle whose private key was compromised.

Lido Finance announced that due to the suspected leakage of the private key of the Chorus One node, Lido DAO will launch an emergency vote to replace its corresponding oracle node. The project emphasizes that the protocol is still operating safely, stakers are not affected, its oracle system adopts a 9-5 multi-signature mechanism, and the remaining 8 nodes have been checked to show no signs of abnormality.

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6. Wu said this week's macro indicators and analysis: US inflation data CPI, PPI

Summary

Last week, the Federal Reserve maintained interest rates as expected; this week, the focus is on the U.S. April inflation data, CPI and PPI, etc. Currently, the market generally expects the effects of tariffs to become apparent, and inflation may rise in the coming months, which will in turn affect the Federal Reserve's monetary policy path.

Last Week Review

China's April Caixin Services PMI is 50.7, down from 51.9 in March and below the expected value of 51.7.

The Federal Reserve announced the interest rate decision (upper limit) at 4.50%, in line with the expected 4.50%, previous value 4.50%.

Federal Reserve Chairman Jerome Powell said at a press conference that the current monetary policy stance still has the flexibility to respond to changes in the economy in a timely manner, but if inflation and unemployment rise in tandem, there will be complex decisions. He noted that the rate cut in 2024 is not a preventive measure and is even slightly delayed. The recent rise in inflation expectations has been largely driven by tariffs, which are likely to be more durable if tariffs persist. Asked about Trump's pressure to cut interest rates, Powell responded: "It doesn't affect our work, and we will always use policy tools to support full employment and achieve price stability." ”

The Bank of England lowered the benchmark interest rate by 25 basis points, from 4.5% to 4.25%.

Key Events & Indicators This Week

May 13

U.S. April unadjusted CPI year-on-year (20:30)

The Bank of Japan announced the summary of opinions from the Monetary Policy Meeting on April (07:50)

May 15

The number of initial jobless claims in the United States for the week ending May 10 was ( million ) (20:30)

US April PPI Year-on-Year (20:30)

The Federal Reserve held the second Thomas Laubach Research Conference.

May 16

U.S. May one-year inflation rate expectation initial value (22:00)

US May University of Michigan Consumer Confidence Index Preliminary (22:00)