In another volatile trading day, the S&P 500 recovered a 1% drop triggered by weak manufacturing and employment data. Trump is set to announce details of the latest tariffs at 4:00 PM Eastern Time (ET) on Thursday, which, according to a White House spokesperson, will take effect immediately. Bitcoin rose alongside U.S. stocks yesterday, climbing back above $85,000, while leading stablecoin Tether confirmed it purchased 8,888 Bitcoins in the first quarter.

Tariffs to Take Effect Immediately! Trump to Announce at Thursday

For investors, this is a dizzying period as they brace for Trump’s tariffs. It remains unclear to what extent he will disrupt the current global trade system. This uncertainty has enveloped markets, prompting economists to downgrade economic growth forecasts and forcing central banks to consider the inflationary impact of potential import costs.

White House spokesperson Karoline Leavitt stated on Tuesday that U.S. President Trump will impose new tariffs on a wide range of trading partners on April 2, with the measures taking effect immediately on that date.

Trump is considering a range of options, including a possible 20% tariff on nearly all trading partners, progressive tariffs, or customized tariff measures targeting specific countries. He is expected to announce the details of the new tariffs at 4:00 PM Eastern Time (ET) on Thursday.

Tether Buys 8,888 Bitcoins in Q1

Following its reserve strategy, Tether acquired 8,888 Bitcoins (worth approximately $735 million) in the first quarter of 2025, bringing its total holdings to 92,646 Bitcoins, valued at around $7.8 billion. This makes Tether the sixth-largest Bitcoin holder in a single wallet.

Tether began purchasing Bitcoin in September 2022 and officially announced in May 2023 that it would allocate 15% of its realized net operating profit each quarter to buy Bitcoin, further strengthening and diversifying its reserves.

At current prices, Tether’s Bitcoin holdings have unrealized gains of approximately $3.86 billion.

Tether remains one of the most profitable companies in the cryptocurrency space. Its full-year profit for 2024 reached $13 billion, with $7 billion from U.S. Treasury yields, $5 billion from unrealized gains on its gold and Bitcoin holdings, and an additional $1 billion from other traditional investments by the group.

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