HTX DeepThink is a crypto market insight column meticulously crafted by HTX, focusing on global macro trends, core economic data, and crypto industry hotspots, injecting new thinking power into the market and helping readers "find order in chaos" in the ever-changing crypto world.
What are the implications for the crypto market of Trump's social platform Truth Social's token plan? What is the key to breaking the Federal Reserve's decision to maintain interest rates? What risks might be hidden behind Bitcoin's rebound? This issue's guest, HTX Research Chloe (@ChloeTalk1), will explain it all for you.
Trump Group to Launch a New "Utility Token", Potentially Opening a New Era of Stock Tokenization
On April 30, 2025, Trump Media & Technology Group officially announced in a shareholder letter that they will collaborate with Truth Digital Wallet to launch a utility token named "DJT", initially used to pay for Truth+ subscription fees, with plans to gradually expand to payment, tipping, and trading services within the Truth ecosystem. Simultaneously, the DJT trademark covers digital wallets, crypto payments, and digital asset platforms, and the Truth Social official account has been renamed "DJT", indicating a deep integration with the social platform.
This is the first utility token led by a US-listed media group and implemented in a real social product scenario, marking a historic convergence of US stocks and on-chain asset forms. Although the official launch time, blockchain, and specific mechanisms have not been announced, following Trump's typical "hype first, details later" strategy, the market generally expects a multi-stage distributed release and media hype to attract traffic and attention.
At a time when Memecoin trends are cooling and narrative is shifting towards utility and payment scenarios, DJT undoubtedly hits the right market rhythm. Similar to the USD1 stablecoin project recently launched by HTX, the market is showing high enthusiasm for "utility crypto assets". DJT not only has strong political IP and social heat but also possesses a real ecosystem closed loop, and its long-term and medium-term value growth potential may far exceed short-term Meme speculation targets.
Geneva Negotiations Restart: US-China Easing Boosts Risk Appetite, but Deadlock Remains Unbroken
This weekend, the US and China will restart high-level talks in Geneva since the trade conflict escalation in spring 2025. US Treasury Secretary Besent and Trade Representative Grill will meet with Chinese Vice Premier He Lifeng, focusing on issues such as the relief path for 145% tariffs, export control policy adjustments, and restoration of small e-commerce package tax exemption mechanisms.
Although differences in responsibility attribution remain, this talk, with "symbolic significance greater than substantive results", itself signals a "restart of communication" to the global community. Considering the current bilateral tariff levels are at historical highs, the market interprets this as a prelude to short-term geopolitical friction cooling, driving collective warming of risk assets.
After the news was announced, Bitcoin price rose about 3.6%, standing above $97,000, indicating funds' high sensitivity to macro easing. Although long-term structural differences remain unresolved, the short-term policy buffer window may provide liquidity recovery space for high-Beta assets like digital assets, gold, and tech stocks.
Powell Throws Cold Water: Now is Not the Time for Rate Cuts, Market May Be Too Optimistic About Liquidity
On May 8, the Federal Reserve maintained the federal funds rate in the 4.25%-4.50% range and maintained the March tapering pace, keeping the US debt reduction cap at $5 billion/month and MBS reduction cap at $35 billion/month. Although the market has long digested this resolution, with CME FedWatch showing a 75% probability of July rate cuts, Powell clearly released a more cautious stance at the press conference:
"Now is not the time when we can take the lead in cutting rates."
"The cost of waiting is quite low."
"Whether rate cuts will occur this year depends on how things develop. The US currently faces unresolved inflation pressure, and inflation may rise again due to trade policies like tariffs."
[The rest of the translation follows the same professional and accurate approach]
HTX Research is the dedicated research department of HTX Group, responsible for conducting in-depth analysis across a wide range of fields including cryptocurrency, blockchain technology, and emerging market trends, writing comprehensive reports, and providing professional assessments. HTX Research is committed to offering data-driven insights and strategic foresight, playing a crucial role in shaping industry perspectives and supporting informed decision-making in the digital asset domain. With rigorous research methods and cutting-edge data analysis, HTX Research consistently stands at the forefront of innovation, leading industry thought development and promoting a deeper understanding of evolving market dynamics.
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