Today in crypto, Saifedean Ammous, an economist, discussed how US President Donald Trump’s reversal of higher tariffs might stem from rising bond yields, revealing weaknesses in the US economy. Ammous stated that this action highlighted Bitcoin’s unique properties during global uncertainty. Trump halted higher tariffs for 90 days, which critics argue emphasized vulnerabilities in the US bond market. In other news, Jack Mallers, founder of Strike, is leading a new Bitcoin treasury company, Twenty One Capital, aiming to provide capital-efficient Bitcoin exposure. With backing from Tether, SoftBank, and others, the firm has amassed 42,000 Bitcoin (valued at $3.9 billion). Lastly, Trump is hosting a dinner for top holders of his memecoin, TRUMP, on May 22. The dinner's specifics are unclear, as the project requires participants to pass background checks. Following the dinner announcement, TRUMP's price surged nearly 52%.

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