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Quick Take PayPal expanded its crypto offerings to include Solana and Chainlink within the United States and associated territories. Previously, SOL and LINK were only accessible on the payment processor through a MoonPay partnership.
Quick Take The U.S. House Financial Services Committee advanced the anti-CBDC bill introduced by House Majority Whip Tom Emmer. The bill reflects concern that CBDCs potentially infringe on individual privacy by monitoring transactions.
Quick Take South Korea’s FSC indicated it might ease restrictions regarding foreign investors trading on local exchanges if AML capabilities improve. Unlocking the local market to foreign investors would further boost the USD stablecoin market and revitalize the South Korean crypto industry, one analyst said.
- 21:41WTO Director-General: US tariff hikes will have huge impact on global trade and economic growth prospectsWorld Trade Organisation (WTO) Director-General Iweala said on 3 March that the US tariff increase will have a huge impact on global trade and economic growth prospects. Iweala said in a statement on the same day that the WTO is closely monitoring and analysing the tariff measures announced by the United States on the 2nd, and is actively responding to members' questions about the potential impact on their economies and the global trading system.
- 21:01The dollar index fell sharply by 1.67 per cent on 3 daysThe dollar index, which measures the greenback against major currencies, fell 1.67 per cent on the day to close at 102.073 at the end of the currency market, Gold Finance reported.
- 20:56Strategists keep an eye on whether the S&P 500 can hold key pointsFollowing Trump's tariff actions, the S&P 500 is at a key technical point and could face a longer-term decline if it fails to hold it.During the April 3 session, the S&P 500 came to a corrective level near 5,500 points. Technical analysts who look at averages and other indicators to determine market momentum note that there are few points below this key psychological position that could attract buying on the downside. ‘There's a hint of panic in the air,’ said Jay Woods, chief global strategist at Freedom Capital Markets. ‘Trump and Treasury Secretary Besant are trying to sell Americans on this trade war, but the stock market isn't buying it. People are tired of the rhetoric, they don't see what the tariffs are going to do other than potentially plunge the U.S. into a recession, and are now rushing to get their money out of the market.’