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Why has utility become such a losing bet?
President Trump on Saturday signed an executive order imposing 25% tariffs on imports from Canada and Mexico, with a 10% tariff on Canadian energy and oil, and an additional 10% tariff on China.The implementation of the tariffs was delayed to Tuesday at 12:01 am.Mexico’s President Sheinbaum announced the country would implement both tariff and non-tariff retaliatory measures, while Canadian PM Trudeau said Saturday night Canada would implement 25% tariffs on a swath of American goods in response.
Stablecoin liquidity has increased, surpassing $200B in total market cap. USDT and USDC lead the expansion, signaling potential market shifts. Analysts say this trend could impact Bitcoin and crypto prices.
MicroStrategy expanded its preferred stock offering from $250M to $584M to support corporate initiatives and enhance its Bitcoin portfolio ahead of final sale conditions.
- 07:01Today's Fear and Greed Index dropped 18 points to 15, which is in "extreme panic state"ChainCatcher news, according to Bitget data, today's cryptocurrency fear and greed index dropped to 15 (the index was 33 yesterday), indicating that the market is in a "state of extreme panic." Note: The panic index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media heat (15%) + market research (15%) + Bitcoin's proportion in the entire market (10%) + Google hot word analysis (10%).
- 06:49China responds to Trump's tariffs: Imposes 15% tariff on imported goods from the USThe US-China trade war has heated up again, with China announcing a 15% tariff on imports of wheat, corn, cotton and chicken from the United States. At the same time, it will impose an additional 10% tax on sorghum, soybeans, pork, beef, seafood, fruits and vegetables etc., expected to take effect from March 10. This move comes after US President Trump announced that he would raise tariffs on imported goods from China to 20%. In addition, Trump also confirmed that he would impose a 25% tariff on goods coming from Mexico and Canada. These tax increases have triggered risk aversion in the market affecting both stock and cryptocurrency markets. As of press time, Bitcoin (BTC) is priced at approximately $84,200 USD which is down by about 2% compared to the previous day. (CoinDesk)
- 06:39The Australian government stated that there are no plans to establish a strategic cryptocurrency reserveDespite US President Trump's recent announcement that the US will establish a cryptocurrency strategic reserve, the Australian government is currently not considering establishing a similar reserve. A spokesperson for Australia's Treasurer Stephen Jones stated that the government will focus on regulating digital asset platforms and continue to cooperate with the industry to promote the development of suitable regulatory frameworks for digital assets. At present, Australia has no plans to set up a crypto reserve, even though other US states are considering adding crypto assets to their balance sheets. As for whether Australia would adopt a crypto reserve, Tom Matthews from Swytfx believes this idea is complex and risky, potentially leading to concentrated risk in certain tokens. He predicts that there may be a sovereign wealth fund in the future whose main asset is cryptocurrency. Meanwhile, Australian regulators are planning to shift their focus towards the crypto industry; anti-money laundering regulators have indicated they will strengthen regulation of the crypto industry by 2025.