In today’s crypto news, economist Saifedean Ammous discussed US President Donald Trump’s recent reversal of higher tariffs, attributing it to rising bond yields and vulnerabilities in the US economy. He noted that while the tariffs initially seemed manageable, the ensuing bond market crash revealed their detrimental impact. Furthermore, crypto entrepreneur Jack Mallers announced that he would head a new Bitcoin treasury company called Twenty One Capital, aiming to provide capital-efficient Bitcoin exposure, with backing from Tether, SoftBank, and Cantor Fitzgerald. The firm plans to hold 42,000 Bitcoin, equating to approximately $3.9 billion. In a different development, President Trump is set to host a dinner for the top holders of his memecoin, with the top 220 tokenholders invited, igniting concern over transparency and a recent surge in the token’s value by about 52%. These events underscore significant moments in the crypto landscape, highlighting economic trends and new business ventures.

Source 🔗