JH Kim

According to Reuters on the 16th (local time), Jerome Powell, the Chair of the Federal Reserve (Fed), stated, "Do not expect the Fed to intervene in the market," and mentioned, "President Trump's position is changing daily." He responded to a question about the possibility of the Fed intervening in response to a stock market crash by saying, "My answer is 'No.' Despite facing numerous uncertainties, the market is currently digesting the situation well." He continued, "It is still too early to predict what will happen in the market," and added, "People often make judgments and then look back a few months later to realize it was a wrong decision." Additionally, he said, "Part of the current market turmoil stems from hedge funds, leverage, and deleveraging movements," and added, "In the short term, market volatility may continue."

The three major indices of the U.S. stock market closed with a decline. The Nasdaq Composite Index recorded a 3.07% drop from the previous day to 16,307.16 points on the 17th. The Dow Jones Index fell 1.75% to 39,662.58 points, and the S&P 500 Index closed with a 2.29% drop to 5,272.82 points.

On the 16th (local time), according to Reuters, Jerome Powell, Chair of the Federal Reserve (Fed), stated, "Cryptocurrency is gradually integrating into the mainstream financial system," and "It is expected that bank regulations related to cryptocurrency will be partially eased." He continued, "The Fed is working with Congress to establish a legal framework for stablecoins," adding, "As stablecoins can be widely adopted, measures for consumer protection must be in place."

According to Reuters on the 16th (local time), Jerome Powell, Chair of the Federal Reserve (Fed), stated, "At this point, reserves are still ample," and "I do not see us as having reached the point to halt Quantitative Tightening (QT). The Fed is ready to supply dollar liquidity overseas whenever necessary."

According to Walter Bloomberg on the 16th (local time), Jerome Powell, the Chair of the United States Federal Reserve (Fed), stated, "The market is functioning in an orderly manner and performing as expected," adding, "The Fed's dual goals of maximum employment and price stability are not currently in conflict, but the current trend is moving towards a simultaneous rise in unemployment and inflation. We may face difficult decisions in the future."

On the 16th (local time), according to Walter Bloomberg, Jerome Powell, the Chair of the U.S. Federal Reserve (Fed), stated in a speech that "tariffs may have a greater impact on the economy than expected." He continued, "The impact of tariffs may be greater than the Fed's previous estimates, and the impact on inflation may also last longer," explaining that "at least temporarily, there is a possibility of causing inflation, and care must be taken to prevent this inflation from becoming entrenched." Additionally, he emphasized that "the Fed has a responsibility to manage inflation expectations stably."

According to Walter Bloomberg on the 16th (local time), Jerome Powell, Chair of the US Federal Reserve (Fed), stated that "the US economic growth rate in the first quarter of this year has somewhat slowed compared to the previous year," and "the economy is generally maintaining a resilient trend, but uncertainty and downside risks persist." He further added, "There is a need to confirm a clearer economic situation before changing policies."

According to Watcher Guru, a media outlet specializing in virtual assets (cryptocurrency), the Russian Ministry of Finance has urged the issuance of its own stablecoin on the 16th (local time).

According to CoinDesk, a media specializing in virtual assets (cryptocurrency), Eric Trump, the second son of U.S. President Donald Trump, is scheduled to speak at the 'Consensus 2025' conference to be held in Toronto, Canada next month. He will attend as the Chief Strategy Officer (CSO) of American Bitcoin, a mining company co-founded with Hut8, a major Bitcoin (BTC) mining company listed on the U.S. Nasdaq, and plans to present a vision for restructuring the Bitcoin mining industry in the United States.

According to Walter Bloomberg on the 16th (local time), the US government plans to negotiate with more than 70 countries to restrict China from indirectly exporting through these countries.

According to CoinDesk, a media outlet specializing in virtual assets (cryptocurrency), the new DeFi (Decentralized Finance) protocol Neutrl has raised $5 million in a seed round led by Styx and Accomplice on the 16th (local time). Amber Group, Pigment, and Guy Young, founder of Athena, also participated in the round. The specific use of the investment funds has not been disclosed.

The three major indices of the U.S. stock market are showing a downward trend. The Nasdaq Composite Index is trading at 16,478.44 points, down 2.05% from the previous day as of 00:07 on the 17th. The Dow Jones Index is down 0.33% at 40,237.28 points, and the S&P 500 Index is down 1.12% at 5,336.16 points.

On the 15th (local time), according to the White House, U.S. President Donald Trump is considering a plan to ban stock trading by members of Congress, as reported by Watcher Guru via X (formerly Twitter). This is known to have been proposed during discussions on the ethical standards and financial transparency of lawmakers.

The American investment bank TD Cowen warned in a report that U.S. President Donald Trump's virtual asset (cryptocurrency) business could hinder related legislative efforts. According to the virtual asset specialized media The Block on the 15th (local time), the report stated, "Trump's virtual asset business is causing backlash within the industry, thereby intensifying political risk," and analyzed that "this could pose a threat to virtual asset-related legislation and regulatory reform." It continued, "While we do not see political risk derailing the virtual asset legislative process, the related risk is not decreasing but rather increasing," adding, "This is an element that virtual asset investors should be aware of."

According to Decrypt, a media outlet specializing in virtual assets (cryptocurrency), the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into the non-fungible token (NFT) project CyberKongz as of the 15th (local time). Previously, CyberKongz received a Wells Notice (a notification requiring a preliminary explanation from potential lawsuit targets) from the SEC regarding blockchain games and smart contracts last December.

The three major U.S. stock indices closed lower. The Nasdaq Composite Index recorded a 0.05% decline to 16,823.17 points on the 16th. The Dow Jones Index fell 0.39% to 40,368.72 points, and the S&P 500 Index closed at 5,394.45 points, down 0.21%.

According to Binance on the 15th (local time), Eric Trump, the second son of U.S. President Donald Trump, is expected to attend as a speaker at the 'Token 2049' conference to be held in Dubai from April 30 to May 1 (local time). Additionally, Richard Teng, CEO of Binance, Paolo Ardoino, CEO of Tether (USDT), Jeremy Allaire, co-founder and CEO of Circle, and Robert Michnick, Head of Digital Assets at BlackRock, are also expected to attend the conference.

Ran Goldi, Vice President (VP) of Payments and Network at the virtual asset (cryptocurrency) custody company Fireblocks, diagnosed that "competition among issuers to dominate the stablecoin market is intensifying." According to the virtual asset specialized media CoinDesk on the 15th (local time), Ran Goldi explained, "Interest in the stablecoin industry has increased among banks and payment companies following the establishment of MiCA, Europe's virtual asset regulatory law, and regulatory movements in the United States," adding, "Robinhood, Ripple (XRP), and Revolut have entered the stablecoin market, and about 50 new stablecoins are expected to be launched by the end of this year." He further added, "Banks are also planning to establish related plans in the first half of this year and may fully enter the stablecoin market next year."