Global TradFi & Macroeconomics

President Trump deemed it "highly unlikely" that the ceasefire with Iran will be extended and indicated that the Strait of Hormuz will remain closed until a deal is finalized, with the current agreement expiring soon.

Kevin Warsh, nominated by Trump, becomes the first “Tech Bro” Fed chair, closely connected with Silicon Valley giants, and argues that AI can reduce inflation and supports an accommodative monetary policy. His Silicon Valley background could influence the Fed’s interest-rate decisions; expectations for the crypto market are positive, but the risk of conflicts of interest also needs to be considered. His appointment process and future policy direction will affect the U.S. Dollar Index and valuations of Taiwan stocks.

MicroStrategy bought 34,164 bitcoins for $2.54 billion last week, bringing its total holdings to 815k BTC, making it the largest bitcoin-holding institution in the world. The funding source was mainly raised through STRC preferred shares and common stock offerings, reflecting a signal from institutions to buy in the face of market weakness. Although the MSTR stock price faces short-term pressure, it still shows a strong long-term capital allocation trend, providing multiple ways for investors in Taiwan to participate.

Tether and CEO Giancarlo Devasini own 1.95 million shares (8.2%) in Bitcoin mining finance company Antalpha, which raised $49.3 million in its IPO. Antalpha offers Bitcoin-collateralized lending and has a $1.6 billion loan portfolio.

A major centralized exchange is negotiating with another to explore tokenization and custody for U.S.-listed stocks. The second exchange aims to enter the U.S. market via a separate entity, assisted by a local partner for compliance.

Gate News: According to the latest Gate TradFi data, AALG (AMERICAN AIRLINES GROUP INC) has dropped by 10% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

Oil prices surged over 5% after the US seized an Iranian cargo ship, escalating tensions with Iran. Brent crude rose to $95.46, while WTI reached $88.86. Iran warned of retaliation, highlighting ongoing disruptions in the Strait of Hormuz.

Cryptocurrency ETPs saw $1.4 billion in inflows last week, marking the highest since January, driven mainly by Bitcoin. Year-to-date inflows reached $3.8 billion, boosted by positive geopolitical sentiment and Bitcoin price increases.

Shaanxi Tourism clarified a report on its shareholders, stating it hasn't listed tradable shares yet. It completed its IPO in late 2025 but saw declines in revenue and profit that year. As of April 20, shares were down slightly.

Iraq's Rabia border crossing with Syria has reopened after closure since 2011 due to security issues. This reopening, announced by Iraq's border authority, aims to enhance trade, movement, and energy transactions between Iraq, Syria, and neighboring countries.

Empery Digital sold 20 BTC for around $1.5 million, raising its total holdings to 2,914 BTC. The company plans to continue selling bitcoin to fund share repurchases and manage debt.

Polysilicon futures in China surged due to policy signals aimed at regulating the solar sector, yet analysts warned that the rally is based on expectations rather than actual market improvements. Elevated inventory levels and supply-demand imbalances remain concerns.

Hong Kong's SFC launched a pilot framework for secondary trading of tokenised investment products on licensed platforms, enhancing retail access and blockchain settlement. The framework includes investor protection measures and aims to expand the tokenised products market.

An Iranian official indicated that Iran has not decided on participating in the second round of U.S.-Iran talks due to mistrust stemming from U.S. actions and statements, exacerbated by a recent U.S. attack on an Iranian vessel.

European Council President António Costa discussed the EU's dedication to Middle East peace with King Abdullah II of Jordan, highlighting collaboration with regional partners and the reopening of the Strait of Hormuz as a priority, while monitoring Lebanon, Gaza, and the West Bank.

Nvidia CEO Jensen Huang criticized U.S. chip export restrictions, arguing they won't hinder China's AI advancements. He stressed the need for a unified global tech ecosystem and emphasized Nvidia's growing market share despite competition, highlighting the challenges in disrupting computing ecosystems.

Billionaire Manny Villar and family denied insider trading and securities violation charges from the SEC, claiming no wrongdoing. They submitted counter-affidavits to the DOJ, asserting actions were made in good faith amid allegations of significant financial discrepancies.

In 2025, the top 10 global semiconductor equipment manufacturers achieved over $130 billion in revenue, with ASML leading at $37.2 billion. The rankings remained unchanged from 2024, with combined revenue from the top five making up 85% of the total.

The U.S. government initiated a tariff refund program effective April 20, impacting over 53 million import declarations. This marks a significant policy shift, allowing importers to reclaim previously collected taxes, with over 56,000 businesses participating.

In Q1 2026, Bitcoin miners sold over 32,000 BTC, the highest on record, to reinvest in AI infrastructure amid rising mining costs.