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World Liberty Financial, associated with Donald Trump, plans to create a strategic reserve of cryptocurrencies, reflecting the organization's expanding footprint in the digital finance sector.
Dave Portnoy sparks controversy with meme coin trades and promotion, accused of profiting off followers with pump-and-dump schemes.
The proposal follows similar legislative moves by other U.S. states exploring Bitcoin adoption in their financial reserves.
Quick Take The prices of various cryptocurrencies have dipped after President Trump told reporters that he plans to implement new 25% tariffs on steel and aluminum next week. The price of Bitcoin, which briefly surpassed $100,000 on Friday, has slid to around $95,000, with Ethereum down 3.5% in the past 24 hours. The price action comes shortly ahead of Super Bowl LIX, expected to be the most-watched telecast of the year.
- 20:24All Three Major U.S. Stock Indexes Close LowerAccording to Jinse Finance, all three major U.S. stock indexes closed lower, with the Dow Jones down 0.94%, the Nasdaq down 0.92%, and the S&P 500 down 0.79%. Shares of Japanese and South Korean companies listed in the U.S. declined, with Nissan Motor falling over 7%, Toyota Motor nearly 4%, South Korea’s SK Telecom over 7%, and LG Display over 8%. Most major tech stocks also dropped, with Tesla down more than 6%, and Apple and Google both down over 1%.
- 19:28Sources: EU seeks agreement with US to offset automotive trade imbalanceAccording to a report by Jinse Finance, EU sources revealed that the European Union is exploring a potential automotive agreement to offset the imbalance between U.S. automobile exports and imports. The EU may secure basic tariff exemptions for aircraft and spirits in its trade agreement with the United States.
- 18:13Goldman Sachs: The Fed May Cut Interest Rates in SeptemberAccording to a report by Jinse Finance, Goldman Sachs stated that the Federal Reserve may cut interest rates in September. As the impact of tariffs diminishes and inflation recedes, the Fed could move up its timeline for rate cuts. The terminal rate range is now expected to be 3.00-3.25%, compared to the previous forecast of 3.50%-3.75%.