Skip to main content

Will America’s crypto frenzy end in disaster?

“Get your $TRUMP now,” came the message from America’s president-elect three days before his inauguration. The commander-in-chief’s meme cryptocurrency, the aggregate value of which has so far peaked at almost $15bn, is far from the only sign of the administration’s ardour for digital assets. One new government department (DOGE) has been christened after another meme coin. It is now quicker to list people close to the president who do not have significant financial interests in crypto than those who do. For anyone not paying attention, an executive order on January 23rd made things clear: digital assets, it announced, would play “a crucial role in innovation and economic development in the United States, as well as our Nation’s international leadership”.

Explore more

This article appeared in the Finance & economics section of the print edition under the headline “The merge”

From the February 1st 2025 edition

Discover stories from this section and more in the list of contents

Explore the edition

https://worldnewsguru.us/?p=19467&network_id=
Labels:

Comments

Post a Comment

Popular posts from this blog

Dollar set for best week since November on US rates, economic outlook

By Rae Wee SINGAPORE () -The dollar was on track for its best weekly performance in over a month on Friday, underpinned by expectations of fewer Federal Reserve rate cuts this year and the view that the U.S. economy will continue to outperform the rest of its peers globally. The greenback began the new year on a strong note reaching a more than two-year high of 109.54 against a basket of currencies on Thursday as it extended a stellar rally from last year. Its charge higher has come on the back of a more hawkish Fed and a resilient U.S. economy. "Looks like dollar strength is here to stay for now in early 2025 given the U.S. exceptionalism story is here to stay, and it still comes with high U.S. yields," said Charu Chanana, chief investment strategist at Saxo. "Add to that the uncertainty from policies of the incoming (Donald) Trump administration, and you also get the safety aspect of the dollar looking attractive." Ahead of U.S. President-elect Trump'...
Post a Comment
Read more

California's latest job-killing policy is more bad news for Golden Staters

California's latest job-killing policy is more bad news for Golden Staters California’s list of public policy failures was already long, but hiking its minimum wage to $20 an hour for fast-food workers may belong at the top. The predictable fallout in lost jobs and higher pr... Read more: https://worldnewsguru.us/business-news/californias-latest-jobkilling-policyis-more-bad-news-for-golden-staters Originally published on World News Guru
Post a Comment
Read more

Trump push to use tariffs to pay for tax cuts faces opposition in Congress

By Jarrett Renshaw, David Morgan and David Lawder WASHINGTON () - U.S. President Donald Trump is pushing a plan to explicitly use revenue from higher tariffs on imported goods to help pay for extending trillions of dollars in tax cuts, an unprecedented shift likely to face opposition from many of his fellow Republicans in Congress. The U.S. collects less than $100 billion annually in trade penalties imposed on imported goods as a tool to protect and grow domestic industries. That money is rarely a topic in Washington's routine budget battles because it makes up so little of the federal government's revenue.  Trump has threatened across-the-board import tariffs, but has yet to impose any. The president and his allies say he wants to use them much like the personal and corporate taxes that account for the vast majority of U.S. revenues, notching up tariffs to help pay for government programs and cover promised tax cuts.  "Instead of taxing our citizens to enrich other...
Post a Comment
Read more