New York-based asset management giant BlackRock announced on Tuesday that it will acquire two ports serving the Panama Canal from Hong Kong’s CK Hutchinson, as part of a larger $22.8 billion deal.

US President Donald Trump had threatened to regain control of the Panama Canal, believing that US ships were not being treated fairly due to Chinese influence. This deal could potentially alleviate those concerns.

The ports will be acquired by a consortium that includes BlackRock, as well as Global Infrastructure Partners and Terminal Investment Limited.

Hutchinson’s official statement said the deal was “completely unrelated to recent political news regarding the Panama Ports,” and that the deal was the result of a “fast” process.

BlackRock declined to comment further, but sources say the firm has informed both the White House and Congress about the deal.

According to the *Financial Times* (*FT*), CEO Larry Fink himself informed senior leaders in the Trump administration, including the president, to secure their support for the takeover, in order to overcome possible political obstacles.

A source added that the consortium would not have proceeded with its offer if it believed the US government would not support the deal.

The deal consists of two parts, one of which covers Hutchinson’s 90% stake in the ownership and operation of the Balboa and Cristobal ports in Panama.

This transaction will be conducted separately from the second part, which covers 43 ports in 23 countries, including Germany and the United Kingdom, and 80% of the shares will be sold. Hutchinson’s ports in China are not included.

The remaining 20% stake is held by PSA, a port operator owned by Singapore’s sovereign wealth fund Temasek.

BlackRock did not provide an estimated closing date, likely due to the number of different regulators whose opinions will need to be sought. The deal is expected to be formally signed by April 2.

CK Hutchison, controlled by Hong Kong’s richest man, Li Ka-shing, and his family, has a portfolio consisting of ports, retail, telecom, and other infrastructure. Port operations account for approximately 9% of CK Hutchison’s total revenue of HKD 461.6 billion (USD 593.97 billion) in 2023.

Hutchison Ports, one of the world’s largest container terminal operators, has been managing the ports at both ends of the canal since 1997 under concessions from the Panamanian government.

A few days after a public disagreement between the two leaders at the White House regarding peace negotiations with Russia, US President Donald Trump suspended military aid to Ukraine, in an attempt to increase pressure on his Ukrainian counterpart, Volodymyr Zelensky, to make concessions.

Trump’s decision halts US military aid, including weapons, to Kyiv, which has been ongoing since the start of the war.

On Monday, a White House official told the Financial Times, “The President has made it clear that he is focused on peace. We need our partners to be committed to this goal as well. We are pausing and reviewing our aid to make sure it contributes to a solution.”

Trump had also suggested that the Ukrainian leader could be removed from office if he fails to reach an agreement with Moscow. The President added, “Making a deal shouldn’t be that difficult. It can be done very quickly. Now, maybe someone doesn’t want to make a deal, and if someone doesn’t want to make a deal, I don’t think that person will be around for very long.”

Following the emergence of news of the suspension on Monday, US Secretary of State Marco Rubio suggested that it was linked to a broader diplomatic effort. Rubio said, “We want to get the Russians to the negotiating table. We want to explore whether peace is possible.”

US Vice President JD Vance, in an interview with Fox News host Sean Hannity on Tuesday, said that his message to the Ukrainians was, “Donald Trump is the only game in town.”

Vance, who joined Trump in rebuking Zelensky in the Oval Office on Friday, also called on the Ukrainian President to “seriously work on the details” of a deal, adding, “The best security is to provide Americans with an economic advantage in Ukraine’s future.”

Cryptocurrency prices surged after US President Donald Trump announced that the US strategic digital asset reserve would include not only Bitcoin but also lesser-traded cryptocurrencies. On Sunday, Trump wrote on his Truth Social account that the strategic reserve would “revitalize this critical industry after years of corrupt attacks by the Biden administration.”

A Senate bill backed by Republicans aims to direct the US Treasury to purchase approximately 1 million Bitcoin, valued at around $94 billion based on current market prices. The proposal has faced opposition, including from some Republican lawmakers who argue that it risks taxpayers’ funds. The reserve itself has also raised concerns about potential conflicts of interest, as some of Trump’s advisors have market-linked investments.

According to a source familiar with the matter who spoke to the Financial Times (FT), Craft Ventures, an investment firm founded by David Sacks, the White House’s AI and crypto czar, holds stakes in a small number of crypto startups. However, both Sacks and the company sold their direct crypto holdings shortly after Trump took office. This included all their assets in Bitcoin, Solana, and Ethereum.

The source added that Sacks is undergoing a government ethics review and will provide a full update on his assets afterward. In his early days in office, Trump signed an executive order supporting digital assets and blockchain technology, promising to create a national crypto reserve, which investors celebrated.

On Sunday, Trump stated that Bitcoin and Ethereum would be the “heart of the reserve,” adding that Solana, XRP (Ripple), and Cardano (ADA) would also be included. In a post on Truth Social, he wrote, “I will make the US the Crypto Capital of the World. WE ARE MAKING AMERICA GREAT AGAIN!”

Trump’s comments led to a general price rise in the sector after weeks of selling pressure. Bitcoin fell to $93,165 on Monday after rising nearly 11% to $95,084 on Sunday. Ethereum rose 14% to $2,541, but fell to $2,448 on Monday. Solana, the blockchain that also hosts Trump’s own coin, rose 26% to $180 but fell to $170 on Monday.

ADA, representing the Cardano blockchain, surged by 71% to 1.15 per token on Sunday. XRP, linked to Ripple, rose by 37%. Digital asset prices had been steadily declining since Trump took office, contradicting claims that he is a crypto-friendly president.

The White House will host its first crypto summit this month, and traders will closely watch for signs that the president’s working group is nearing the launch of a crypto reserve. During his campaign, Trump courted the crypto industry and presided over a Bitcoin conference in Nashville last July.

Speaking last month, Trump said, “I ended Joe Biden’s war on Bitcoin and crypto,” adding that his campaign had “won this vote outright.”