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Share link:In this post: Target put out a profit warning for the first quarter, saying that Trump’s tariffs will hurt its business. Target said that due to uncertainty, the company expects to see meaningful year-over-year profit pressure in its first quarter relative to the remainder of the year. Target’s stock is down 21% in the last year and 9% so far this year.
Quick Take The price of AXL rose over 14% in a matter of minutes after news broke that Canary Capital had filed an S-1 registration with the SEC on Wednesday for an Axelar ETF.
Quick Take The bankrupt crypto exchange transferred 11,834 BTC to an unmarked address on Wednesday, marking the first larger transaction since late January. Arkham Intelligence data shows that it also sent 166.5 BTC to its cold wallet around the same time today.
Quick Take Aave DAO is considering launching a “savings” version of its GHO stablecoin, similar to Sky’s sUSDS token. The move comes amid a series of proposals seemingly aimed at driving GHO adoption.
- 17:22U.S. Treasury Secretary Besent Refuses to Disclose Which Countries the U.S. Might Reach Trade Agreements With This WeekU.S. Treasury Secretary Besent refused to disclose which countries the U.S. might reach trade agreements with this week, stating that doing so would harm U.S. interests.
- 17:10US Treasury Secretary: America Should Be the Preferred Destination for Digital AssetsU.S. Treasury Secretary Scott Besant recently stated that the United States "should be the preferred destination for digital assets." This statement comes as lawmakers engage in heated debates over the establishment of a regulatory framework for cryptocurrencies. Besant was asked during a House Financial Services Committee hearing on Wednesday why the U.S. needs to maintain a leading position in the crypto field. "We firmly believe that the U.S. should be the preferred destination for digital assets," Besant responded, "just as this committee and our Senate colleagues are striving to achieve—establishing a comprehensive market structure—making U.S. industry standards a global model."
- 17:10Economist: Powell May Lack Information on Tariff Impact on InflationNatixis economist Benito Berber stated that Federal Reserve Chairman Powell might have little to say about the impact of tariffs on inflation because goods shipped from China after "Liberation Day" have yet to reach the U.S. market. Berber expects the inflation impact to become apparent in June, predicting that the Federal Reserve will hold steady until September, at which point it will begin cutting interest rates and continue until 2026.