🇺🇸 PRESIDENT TRUMP WANTS TO INCREASE IMPORT TARIFFS FROM EU
🌟 According to the Financial Times, President Donald Trump is said to want to impose import tariffs of 15%–20% on goods from the European Union (EU).
🌟 The EU hopes to reach a softer deal, similar to the one with the UK, maintaining a basic tariff of 10% and exempting some industries.
Although President Trump has repeatedly criticized the EU's 198 billion euro ($231 billion) trade surplus with the US in goods, EU officials say the overall trade balance is much more balanced when services and investment are included. The EU has also pledged to increase oil and gas purchases from the US to narrow this trade gap.
🌟 According to the Financial Times, President Donald Trump is said to want to impose import tariffs of 15%–20% on goods from the European Union (EU).
🌟 The EU hopes to reach a softer deal, similar to the one with the UK, maintaining a basic tariff of 10% and exempting some industries.
Although President Trump has repeatedly criticized the EU's 198 billion euro ($231 billion) trade surplus with the US in goods, EU officials say the overall trade balance is much more balanced when services and investment are included. The EU has also pledged to increase oil and gas purchases from the US to narrow this trade gap.
PRESIDENT TRUMP’S REMARKS AT THE SIGNING CEREMONY OF THE GENIOUS STABLECOIN ACT
🇺🇸 President Donald Trump declared that under his leadership, the United States has become the global crypto capital, and he pledged to continue expanding this role during his term.
🌟 He highlighted the firing of SEC Chairman Gary Gensler as one of the most celebrated moments of the campaign, when his promise to “fire Gensler” brought applause from the crowd.
🌟 Trump admitted that he initially did not understand why the public was so against Gensler, but later realized that the community’s dissatisfaction was completely justified.
🌟 Instead, he appointed a new SEC chairman with an innovative mindset, Paul Atkins, who he said wants to build the future, not hinder it.
🌟 He also mentioned the GENIOUS Act, a bill named in his honor, while thanking the crypto community for its contributions over the years.
📜 GENIOUS means “genius,” but also stands for Guiding and Establishing National Innovation for U.S. Stablecoins Act.
🇺🇸 President Donald Trump declared that under his leadership, the United States has become the global crypto capital, and he pledged to continue expanding this role during his term.
🌟 He highlighted the firing of SEC Chairman Gary Gensler as one of the most celebrated moments of the campaign, when his promise to “fire Gensler” brought applause from the crowd.
🌟 Trump admitted that he initially did not understand why the public was so against Gensler, but later realized that the community’s dissatisfaction was completely justified.
🌟 Instead, he appointed a new SEC chairman with an innovative mindset, Paul Atkins, who he said wants to build the future, not hinder it.
🌟 He also mentioned the GENIOUS Act, a bill named in his honor, while thanking the crypto community for its contributions over the years.
📜 GENIOUS means “genius,” but also stands for Guiding and Establishing National Innovation for U.S. Stablecoins Act.
STABLECOIN ACT SUMMARY 🇺🇸
🌟 The GENIOUS Act establishes the first federal regulatory framework for stablecoins, focusing on consumer protection, national security, and maintaining the USD's status as the global reserve currency.
🔒 USER PROTECTION
– Require stablecoins to have 100% of their reserves held in USD or short-term Treasury securities
– Mandate monthly transparency on reserve composition
– Prohibit misleading advertising and false claims that stablecoins are government-backed
– Prioritize stablecoin holders over other creditors in the event of bankruptcy
💵 STRENGTHEN THE POSITION OF THE USD
– Stablecoins must be backed by US assets, increasing demand for US bonds
– Help maintain the USD’s status as the global reserve currency
– Attract investment and technological innovation, while creating a clear environment for the stablecoin industry to thrive
🛡 ENHANCE NATIONAL SECURITY & COMPLIANCE
– Enforce the Bank Secrecy Act for stablecoin issuers
– Anti-money laundering and international sanctions compliance required
– Issuers must be able to freeze, revoke, or burn stablecoins as required by law
🌟 The GENIOUS Act establishes the first federal regulatory framework for stablecoins, focusing on consumer protection, national security, and maintaining the USD's status as the global reserve currency.
🔒 USER PROTECTION
– Require stablecoins to have 100% of their reserves held in USD or short-term Treasury securities
– Mandate monthly transparency on reserve composition
– Prohibit misleading advertising and false claims that stablecoins are government-backed
– Prioritize stablecoin holders over other creditors in the event of bankruptcy
💵 STRENGTHEN THE POSITION OF THE USD
– Stablecoins must be backed by US assets, increasing demand for US bonds
– Help maintain the USD’s status as the global reserve currency
– Attract investment and technological innovation, while creating a clear environment for the stablecoin industry to thrive
🛡 ENHANCE NATIONAL SECURITY & COMPLIANCE
– Enforce the Bank Secrecy Act for stablecoin issuers
– Anti-money laundering and international sanctions compliance required
– Issuers must be able to freeze, revoke, or burn stablecoins as required by law
📈 GLOBAL COMPANIES CONTINUE TO ACCUMULATE BITCOIN
🇺🇸 Thumzup Media, backed by Eric Trump, has approved a plan to buy up to $250 million in Bitcoin.
🇬🇧 Coinsilium Group Forza! has purchased another 10.25 BTC, bringing its total Bitcoin holdings to 112 BTC.
🇨🇦 Planet Ventures Inc. has purchased another 3.02 BTC, now holding a total of 25.8 BTC.
🇪🇸 Vanadi Coffee has purchased 4 BTC, bringing its total to 74 BTC.
🇸🇪 Swedish e-commerce company Refine Group launches Bitcoin Strategic Reserve Fund, raising $1.02 million to buy BTC.
🇺🇸 Thumzup Media, backed by Eric Trump, has approved a plan to buy up to $250 million in Bitcoin.
🇬🇧 Coinsilium Group Forza! has purchased another 10.25 BTC, bringing its total Bitcoin holdings to 112 BTC.
🇨🇦 Planet Ventures Inc. has purchased another 3.02 BTC, now holding a total of 25.8 BTC.
🇪🇸 Vanadi Coffee has purchased 4 BTC, bringing its total to 74 BTC.
🇸🇪 Swedish e-commerce company Refine Group launches Bitcoin Strategic Reserve Fund, raising $1.02 million to buy BTC.
Bullish, a crypto exchange backed by Peter Thiel, has filed for an IPO to list on the New York Stock Exchange (NYSE) under the ticker “BLSH.” The company has raised investment from major partners such as Thiel’s Founders Fund and Mike Novogratz.
As of March 31, Bullish’s total trading volume exceeded $1.25 trillion. Although the company recorded a loss of $349 million in the first quarter of the year, it believes that the IPO will help the company grow further and achieve transparency, complying with public market standards. Earlier in 2023, Bullish acquired media outlet CoinDesk for an undisclosed amount.
As of March 31, Bullish’s total trading volume exceeded $1.25 trillion. Although the company recorded a loss of $349 million in the first quarter of the year, it believes that the IPO will help the company grow further and achieve transparency, complying with public market standards. Earlier in 2023, Bullish acquired media outlet CoinDesk for an undisclosed amount.
🇪🇺🇺🇸 EU STILL HOPES FOR TRADE DEAL BUT ALSO PREPARES TO CONFRONT PRESIDENT TRUMP
🌟 EU is preparing a contingency plan as trade talks with the US could collapse before the August 1 deadline
🌟 President Trump has warned of a 30% tariff on most EU exports and has already slapped steep tariffs on cars, metals and copper
🌟 EU wants US tariffs of just 10% with more flexibility, but talks are stalled
🌟 If no deal is reached, EU warns it could retaliate with tariffs on up to €72bn of US goods including cars, soybeans and whiskey
🌟 EU is preparing a contingency plan as trade talks with the US could collapse before the August 1 deadline
🌟 President Trump has warned of a 30% tariff on most EU exports and has already slapped steep tariffs on cars, metals and copper
🌟 EU wants US tariffs of just 10% with more flexibility, but talks are stalled
🌟 If no deal is reached, EU warns it could retaliate with tariffs on up to €72bn of US goods including cars, soybeans and whiskey
Peter Schiff: Ether is back near the high end of its trading range. If you are holding, this is a great time to sell. As much as I hate to admit it, selling Ether and using that money to buy Bitcoin is a better trade than continuing to hold Ether.
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Interestingly, Peter is not calling for Ether to be converted to gold this time...
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Interestingly, Peter is not calling for Ether to be converted to gold this time...