Overview of Key Overnight Developments on April 27

1. The Republican Party plans to abolish the U.S. audit regulatory body PCAOB;

2. Arizona's Bitcoin reserve legislation is approaching the final voting stage;

3. ECB Governing Council member: Two more rate cuts this year cannot be ruled out;

4. Tether's market value surpasses Caterpillar, rising to 121st in global asset market value rankings;

5. Trump: China must make substantial concessions, or the tariffs imposed on China will not be lifted;

6. a16z Crypto: Web3 projects initiating airdrops should focus on long-term incentives and community engagement to avoid short-term arbitrage;

7. Michael Saylor: Since the beginning of this year, MSTR's financial operations have generated $5.1 billion in BTC gains.