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Trump Increases Tariffs on Canadian Steel and Aluminum to 50%

Yigit Taha OZTURK — Tue, 11 Mar 2025 14:52:38 +0000

President Donald Trump announced that the tariffs on steel and aluminum products imported from Canada will be increased to 50%. The decision was made after the Ontario province imposed a tax on electricity exported to the U.S. Trump stated on social media, “This decision will take effect tomorrow morning, March 12.”

With this move, the previous 25% tariff will be doubled, resulting in a new 50% tariff on Canadian-made steel and aluminum products. This decision could escalate the trade war between the U.S. and Canada, with its immediate impact already being felt in the markets.

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Bitcoin Sees Sharp Drop

After Trump’s announcement of the tariff increase, risk appetite in the markets declined, and Bitcoin (BTC) saw a sharp pullback. The price of Bitcoin dropped by 2.5% during the day, falling to $80,631. Experts note that trade wars could put pressure on global economic growth, which in turn increases the selling pressure on risky assets.

BTC/USD 3 minute chart.

Geopolitical and economic uncertainties are continuing to affect the cryptocurrency markets. Bitcoin‘s price volatility is expected to continue in the coming days.

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The Impact of FTX Bankruptcy Distribution on the Market

Orhan — Mon, 14 Oct 2024 09:00:49 +0000

The Collapse of FTX in 2022 sent shockwaves through the crypto world, and the exchange’s bankruptcy heightened regulatory scrutiny and security concerns in the cryptocurrency market. Now, FTX’s assets recovered during the bankruptcy process are set to be distributed to creditors. Although this distribution is expected to reach approximately $14 to $16 billion and create significant activity in the crypto market, its overall impact may be limited.

Gradual Distribution and Spreading Over Time

It has become clear that the distributions from FTX’s bankruptcy will occur gradually over time, meaning that a massive injection of liquidity into the market will not happen all at once. The distribution process is set to begin on October 31, with the first phase addressing smaller claims under $50,000. However, these payments will total around $1.2 billion, which is not expected to cause significant price fluctuations given the daily trading volume of the cryptocurrency market.

Larger creditors will receive their distributions in early 2025, with a total payout of approximately $9 billion. However, this will also be paid out gradually. Moreover, FTX’s assets will not only be shared among creditors but will also be used for interest payments and past debts. This gradual release of liquidity into the market may diminish its impact over time.

Missed Opportunities for Investors

When FTX collapsed, Bitcoin’s value was at relatively low levels. However, throughout the bankruptcy process, the value of Bitcoin and other crypto assets saw significant increases. In particular, Bitcoin surged by 260% following the collapse. Creditors involved in the FTX case missed out on the bull market in cryptocurrency during this period. As a result, the investors now receiving their claims will only recover part of what they lost since the FTX crash.

This means that, relative to the broader market, the assets creditors receive may be less valuable than their pre-crash levels. Additionally, the FTX distributions are not limited to Bitcoin but include other crypto assets. The volatility of the crypto market makes it uncertain how profitable these recoveries will be for investors.

Global Market and Regulatory Context

FTX’s collapse not only triggered a liquidity crisis but also shook confidence in the sector. This led regulators, such as the U.S. Securities and Exchange Commission (SEC), to increase their scrutiny of crypto markets. Therefore, the influx of liquidity from FTX’s asset distributions is unlikely to trigger a broad market rally, as the industry continues to grapple with tightening regulations and the need to restore investor confidence.

In conclusion, FTX’s bankruptcy distribution process may disappoint those expecting a short-term market surge. The gradual nature of distributions, missed market opportunities, and regulatory pressures suggest that the expected impact on the value of crypto assets may be limited. Investors will need to remain cautious and closely monitor developments in the market.

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Ondo Finance Announces Expansion Plans in APAC Region!

admin — Mon, 22 Jan 2024 11:35:59 +0000

Ondo Finance, a US-based issuer of tokenized securities, announced today the opening of its first office in the Asia Pacific region. Also, tokenized securities provider Ondo reveals plans to tokenize US assets in response to growing demand in APAC region.

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The company, which claims to hold a significant share of the global market for tokenized securities, currently offers three different tokenized products (OUSG, OMMF, and USDY) that provide access to US-based asset classes.

In a press release, Nathan Allman, founder and CEO of Ondo, said, “There is active interest in the rapidly growing crypto community, and our tokens provide investors with access to high-quality US assets.”

The company appointed Ashwin Khosa, who previously worked for Tether and Bitfinex, as Vice President of Business Development for the APAC region.

In November, Ondo and Mantle Network launched USDY, a tokenized bond backed by US Treasury bonds and bank deposits. The company also launched USDY on Solana in December, announcing the initiative in an X post.

APAC is a key market for Ondo’s expansion plans. The region is home to a rapidly growing crypto community with a strong appetite for innovative financial products. Ondo’s tokenized securities offer a unique opportunity for investors in the APAC region to access high-quality US assets securely and efficiently.

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Monex Group to Acquire Majority Stake in 3iQ Digital Holdings!

admin — Fri, 29 Dec 2023 10:09:36 +0000

Monex Group will acquire a majority stake in 3iQ Digital Holdings for $39.8 million in a strategic move to expand its services in the cryptocurrency asset management space. The move is seen as a response to the growing popularity of cryptocurrencies and aims to solidify Monex’s leadership in the global market.

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According to Monex Group, the acquisition will strengthen the institution’s asset management business and increase interest in cryptocurrencies. Japan is known as a crypto-friendly country, and this agreement aims to strengthen the country’s leadership.

As interest in cryptocurrencies has grown following the industry crashes of last year, Monex’s move aims to increase institutional investor confidence. The company operates an online brokerage and cryptocurrency exchange in Japan, providing customers with a secure environment.

TD Cowen is advising Monex, while Cinaport Capital is advising 3iQ. This strategic collaboration aims to increase the capacity to effectively provide asset management and cryptocurrency services in the financial market.

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