NASCAR driver Ty Gibbs spits fiery message at Tyler Reddick after getting spun out
Victor Davis Hanson: How Donald Trump Is Reshaping America In Just 7 Weeks
Victor Davis Hanson: How Donald Trump Is Reshaping America In Just 7 Weeks
How should we characterize the first seven weeks of the Trump administration because we get so much information and misinformation?
Almost a day doesnāt go by whereĀ The Wall Street JournalĀ is predicting that we are headed for a recession, that our allies are furious at us, that the economy is on the brink.
So, what are we gonna make of all this? I think itās time to take a deep breath and envision the first seven weeks is something like the following:Ā President Donald TrumpĀ is in a race. Heās in a race to enact fundamental, disruptive change, a counterrevolution, and itās going to be rough for a while, as he pointed out.
But the things that he has already done are going to have, shortly or maybe even midterm, fundamental advantages for the United States. The question is, can he message and can he explicate and explain what heās doing so people hang on? Because the eventual reward will be great.
Now, what do I mean? Weāre talking about tariffs, tariffs, tariffs, but even the mere mention of tariffs for all of these countries that have not been reciprocal and have imposed tariffs on us in a way that we would never think of imposing on them, that idea that we might return to parity, itās had an enormous effect.
Some $4 trillion of announced investment from the Europeans, from the Saudis, from the Chinese, from the Mexican government, from the Canadians even. That will create hundreds of thousands of jobs. And that is in the process of working out.
When Donald Trump entered office in 2017, we were only pumping about 9 million barrels. When he left, we were pumping 12 million. The Biden administration immediately cut back. And then it decided, before the midterms, āHey, Americans like affordable oil.ā So then they continued the Trump plan and got up to 12, almost 13 million barrels.
Already in just seven weeks, we have increased the amount of oil produced per day in the United States by about a third of a million barrels. And weāre on schedule to get up to about 14 million barrels by the beginning of the year. And that is coordinated with an increase in Middle East production as well.
So, weāre going to see a moderation of energy prices, which may explain, already, why the inflation rate was not nearly as high as was predicted.
If we look at the border, itās amazing. We were told that the border problem was unsolvable without comprehensive immigration reform. And there were 10,000 people swarming up per day. We donāt evenānonchalantly, nobody talks about it anymore. But itās a revolutionary achievement. Thereās nobody going across the border illegally, or at least, itās statistically insignificant.
The big issue right now is the Left isĀ cherry-picking judgesĀ to prevent, not the deportation of somebody whoās working, whoās never been arrested, whoās been here for five or six years, but criminals and people who already have been ordered out of the country or pro-Hamas, pro-terrorist supporters.
But the point Iām making is, what weāre doing now is Phase Two. The border is essentially solved, as far as security, and in seven weeks. Now, weāre having a difficult task of trying to find out who these 12 million people were thatĀ former President Joe BidenĀ deliberately and with intentāmalicious intentāallowed to come into the country.
But the point Iām making is this is an incredible success.
Thereās a final point that I want to make. We hear about Elon Musk is not authentically American. He is a nepo baby. And we hear Rep. Jasmine Crockett, D-Texas, threatening his person, along with threatening Sen. Ted Cruz, R-Texas.
All of this chaos and nihilism coming aboutĀ Elon MuskĀ and what heās doing, but what heās finding out, almost every day, in the Treasury, in the IRS, in the Department of Energy, in the intelligence communities, is a vast unreported siphoning off of hundreds of millions of dollars, if not billions, to favorable and mostly left-wing entities, both abroad and here in the United States.
And already, he has cited areas where the Cabinet officers can cut $200 billion. Thatās a fifth, only after seven weeks. Heās got a fifth of the way to go. He thinks he can cut a trillion dollars without touching entitlements. I donāt know if he can.
But let me just sum up. If Donald Trump is able to fulfill this promise of commitment by foreign entities of $4 trillion in investmentā$4 trillionāif he is able to cut a trillion dollars within a year or two, if heās able to solve the Ukraine war, and if he is able to have a general peace in the Middle East, that will be the most substantial presidencyāif he does nothing elseāthat weāve seen in 50 years.
Final word, everybody, keep calm. Thereās events in process that if they are brought to fulfillment and fruition, this country will be a radically different and radically better place.
Tyler Durden
Mon, 03/31/2025 – 07:20
Where JuJu Watkins can look for inspiration after crushing ACL injury
When JuJu Watkins crumbled to the hardwood last week with a torn anterior cruciate ligament, it wasnāt just the end of her sophomore campaign, but the beginning of a long, grueling journey.Ā
Trump says he invited long-time critic Bill Maher to White House as a favor to buddy Kid Rock
President Trump said he only invited longtime critic Bill Maher to the White House as a favor to good buddy Kid Rock. āI got a call from a very good guy, and friend of mine, Kid Rock, asking me whether or not it would be possible for me to meet, in the White House, with…
Archax Buys FINRA-Regulated Broker Dealer to Offer Tokenized Assets in the U.S.
Archax, a U.K.-regulated crypto exchange and custodian focusing on tokenized assets, has acquired a U.S. broker-dealer in an effort to enter the booming institutional market in the country after recent positive changes on the regulatory environment.
Globacap Private Markets Inc, a broker-dealer and alternative trading system (ATS) regulated by FINRA and the Securities and Exchanges Commission (SEC), is being bought by Archax and being renamed to Archax Markets US.
The new entity will serve as the company’s foothold on American soil and serve the institutions and professional investors in the country, two Archax executives told CoinDesk.
Asset tokenization is a fast-growing sector in crypto as global banks, asset managers and digital asset firms are increasingly using blockchain rails to move traditional financial instruments. They do so to achieve operational efficiencies and speedier,around-the-clock settlements.
Just in the past weeks, asset manager Fidelity Investments filed to launch a tokenized money market fund and is reportedly working on issuing a stablecoin.
Derivatives exchange CME Group started tokenization tests with Google Cloud with plans to launch new services next year, while the New York Stock Exchange’s parent company partnered with Circle to explore services built on USDC stablecoin and tokenized fund USYC.
Archax specializes in the issuance, custody, and trading of tokenized real-world assets (RWAs), including money market funds, corporate bonds, carbon credits and uranium. For example, Archax’s recently-issued tokenized Treasury fund on XRP Ledger with asset manager Abrdn saw $45 million in deposits to become a top 10 product by assets under management, rwa.xyz data shows.
Archax has been exploring entering the U.S. market over the past years, but stayed on the sideline due to regulatory uncertainty, Graham Rodford, CEO of Archax, said in an interview with CoinDesk.
“Under this new administration, which seems to be more crypto positive, we are getting more interest from the U.S. as well, which obviously we can’t easily serve from the UK, so it makes sense for us strategically to go there,” Rodford said.
Archax also plans to expand its offerings to tokenized U.S. equities and bonds, building on its existing partnerships across several blockchains including Ethereum, Polygon, Solana, Hedera Hashgraph and XRP Ledger.
The firm’s U.S. entrance follows the recent purchase of a Spanish brokerage firm to expand services to the European Union, pending regulatory approvals.
Crypto Daybook Americas: PumpSwap Brings in the Cash as Trump Tariffs Hang Over Bitcoin
By James Van Straten (All times ET unless indicated otherwise)
With trade tensions escalating, Asian and European stocks extended last week’s declines. Japan’s Nikkei 225 fell 4%, taking it into correction territory after dropping more than 10% from its record high and European indexes including the FTSE 100, DAX, and CAC 40 opened in the red alongside falling U.S. stock futures.
The backdrop is President Donald Trump’s new tariffs, set to be revealed to the world on April 2 in an event he has dubbed “Liberation Day.” The president plans to impose levies and tariffs on any country deemed to have an unfair trading relationship with the U.S.
“You’d start with all countries, so let’s see what happens,” Trump said, according to the Financial Times. His words suggest that while the tariffs may initially apply broadly, he is open to making concessions for some countries, the FT said.
On Friday, U.S. equities dropped after a hotter-than-expected reading in core PCE inflation, the Federal Reserve’s preferred inflation gauge. Market uncertainty may persist with the U.S. jobs report due Friday. Economists forecast the unemployment rate to rise to 4.2%, while nonfarm payrolls are projected at 128,000, down from 151,000 the previous month.
Gold is rallying on the back of this uncertainty, surging past $3,100 per ounce for the first time ever ā up 1.2% on the day and nearly 20% year-to-date. Meanwhile, bitcoin (BTC) continues to struggle, hovering just above $80,000. It’s down more than 3% this month and 12% for the quarter, marking its worst performance since fourth-quarter 2022.
Then consider ether (ETH). The second-largest cryptocurrency has performed significantly worse than bitcoin this quarter, losing 46% in a slide that’s the worst since 2018. As a result, the ether-to-bitcoin ratio has dropped to 0.02195, marking its lowest level since May 2020. At that time, bitcoin was trading below $10,000, while ether hovered just above $200. Stay alert!
What to Watch
Crypto:
March 31: The dKargo (DKA) testnet will be going live
March 31: The Keeta (KTA) testnet will be going live.
March 31: PinLink (PIN), a RWA-tokenized DePIN platform, will launch on the Ethereum mainnet.
March 31: Terraform Labs, the firm behind the collapsed LUNA and UST tokens, will open the Crypto Loss Claims Portal. All claims must be submitted by 11:59 p.m. on April 30.
April 1: Metaplanet (3350) 10-for-1 stock split becomes effective.
April 1: ONINO (ONI) will have its mainnet launch.
April 2: XIONMarkets (XION) will have its mainnet launch.
April 5: The alleged birthday of Satoshi Nakamoto.
Macro
April 1, 4:30 a.m.: S&P Global releases (Final) U.K. March producer price index (PPI) data.
Manufacturing PPI Est. 44.6 vs. Prev. 46.9
April 1, 5:00 a.m.: Eurostat releases (Flash) eurozone March consumer price index (CPI) data.
Core Inflation Rate YoY Est. 2.5% vs. Prev. 2.6%
Inflation Rate MoM Prev. 0.4%
Inflation Rate YoY Est. 2.2% vs. Prev. 2.3%
Unemployment Rate Est. 6.2% vs. Prev. 6.2%
April 1, 9:00 a.m.: S&P Global releases Brazil March purchasing managersā index (PMI) data.
Manufacturing PMI Prev. 53
April 1, 9:30 a.m.: S&P Global releases Canada March purchasing managersā index (PMI) data.
Manufacturing PMI Prev. 47.8
April 1, 9:45 a.m.: S&P Global releases (Final) U.S. March purchasing managersā index (PMI) data.
Manufacturing PMI Est. 49.8 vs. Prev. 52.7
April 1, 10:00 a.m.: The U.S. Department of Labor releases February JOLTs report (job openings, hires, and separations).
Job Openings Est. 7.68M vs. Prev. 7.74M
Job Quits Prev. 3.266M
April 1, 10:00 a.m.: The Institute for Supply Management (ISM) releases March U.S. manufacturing sector data.
ISM Manufacturing PMI Est. 50.3 vs. Prev. 50.3
April 2, 12:01 a.m.: The Trump administrationās reciprocal tariffs plan, announced Feb. 13, takes effect alongside a 25% tariff on imported automobiles and certain parts announced March 26.
Earnings (Estimates based on FactSet data)
No earnings due.
Token Events
Governance votes & calls
Arbitrum DAO is voting on converting 15 million ARB into stablecoins to be managed via a ā33/33/33 split among Karpatkey, Avantgarde & Myso, and Gauntlet.ā Itās also voting on allocating 10 million ARB into āon-chain strategies designed to generate yield while safeguarding the principal.ā Voting ends April 3.
Sky DAO is discussing increasing the Smart Burn Engine (SBE) rate after a recent executive proposal āresulted in substantial increase to net revenue.ā
March 31: A vote on a burn of 50 million CRO tokens is set to end.
March 31: GMX to hold a Community Call including a Q&A session and the presentation of proposals by potential bridging & messaging partners for GMX multi chain.
Unlocks
April 1: Sui (SUI) to unlock 2.03% of its circulating supply worth $143.15 million.
April 1: ZetaChain (ZETA) to unlock 6.05% of its circulating supply worth $12.85 million.
April 2: Ethena (ENA) to unlock 0.77% of its circulating supply worth $14.07 million.
April 3: Wormhole (W) to unlock 47.64% of its circulating supply worth $112.67 million.
April 9: Movement (MOVE) to unlock 2.04% of its circulating supply worth $20.23 million.
Token Listings
March 31: Kinto (K) to be listed on BingX, Gate.iom MEXC, Kraken, Hotcoin and others.
March 31: Binance to delist USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.
Conferences
CoinDesk’s Consensus is taking place inĀ Toronto on May 14-16. Use code DAYBOOK and save 15% on passes.
April 2-3: Southeast Asia Blockchain Week 2025 Main Conference (Bangkok)
April 2-5: ETH Bucharest Conference & Hackathon (Romania)
April 3-6: BitBlockBoom (Dallas)
April 6-9: Hong Kong Web3 Festival
April 8-10: Paris Blockchain Week
April 10: Bitcoin Educators Unconference (Nashville)
April 15-16: BUIDL Asia 2025 (Seoul)
Token Talk
By Francisco Rodrigues
Token launchpad Pump.funās trading platform PumpSwap, which allows tokens to be traded on its own platform rather than on decentralized exchange Raydium, has traded a cumulative $2.6 billion since its March 20 debut, Dune data shows.
That makes it the Solana ecosystem’s No. 1 protocol in collected fees over the last 24 hours, bringing in $3.29 million, far above the runner-up, DEX aggregator Jupiter, with $2.47 million.
PumpSwap, Duneās data shows, has had a total of 710,000 traders on the platform and more than 32.39 million swaps since its introduction, giving it a significant share of the Solana DEX ecosystem.
Yet the protocol faces headwinds with the slowdown of the Solana ecosystemās activity as the memecoin trading frenzy cools. Artemis data shows daily active addresses on Solana for the year dropped from an 8.1 million peak to 4.2 million on March 29.
Derivatives Positioning
The total open interest on all instruments dropped to $101.3 billion, according to data from Laevitas, continuing its downward trend from last week.
The decline suggests a more cautious stance from market participants as they brace for a volatile week that includes the end of the quarter, anticipated announcements on tariffs from President Trump and the March jobs report on Friday.
In the past 24 hours, total liquidations amounted to $229.3 million, with long positions accounting for 79% of the total. Looking at the BTC/USDT liquidation heatmap on Binance, the largest immediate liquidation cluster lies at $81,200, totaling $27.5 million.
The next key clusters are located at $83,100 and $83,600, with liquidations totaling $25.5 million and $24.7 million, respectively. Both levels align closely with the CME gap created over the weekend.
Among tokens with more than $100 million in open interest, the biggest 24-hour increases were seen in EOS (+13.4%), PEPE (+8.99%), TON (+4.85%), and HYPE (+2.55%). The assets with the largest declines in open interest over the last 24 hours include SUI, TAO and NEAR, falling 10.8%, 8.53% and 7.89%, respectively.
Market Movements:
BTC is down 2.98% from 4 p.m. ET Friday at $81,535.28 (24hrs: -1.27%)
ETH is down 4.96% at $1,792.22 (24hrs: -1.3%)
CoinDesk 20 is down 4.98% at 2,447.78 (24hrs: -3.36%)
Ether CESR Composite Staking Rate is down 7 bps at 2.93%
BTC funding rate is at 0.0114% (4.1709% annualized) on Binance
DXY is unchanged at 104.10
Gold is up 1.3% at $3,126.50/oz
Silver is up 0.95% at $34.97/oz
Nikkei 225 closed -4.05% at 35,617.56
Hang Seng closed -1.31% at 23,119.58
FTSE is down 0.92% at 8,579.15
Euro Stoxx 50 is down 1.22% at 5,266.50
DJIA closed on Friday -1.69% at 41,583.90
S&P 500 closed -1.97% at 55,80.94
Nasdaq closed -2.7% at 17,322.99
S&P/TSX Composite Index closed -1.6% at 24,759.20
S&P 40 Latin America closed -1.52% at 2,429.43
U.S. 10-year Treasury rate is down 1 bps at 4.2%
E-mini S&P 500 futures are down 0.97% at 5,568.25
E-mini Nasdaq-100 futures are down 1.39% at 19,187.50
E-mini Dow Jones Industrial Average Index futures are down 0.63% at 41,588.00
Bitcoin Stats:
BTC Dominance: 62.36 (0.24%)
Ethereum to bitcoin ratio: 0.02196 (0.09%)
Hashrate (seven-day moving average): 835 EH/s
Hashprice (spot): $45.7
Total Fees: 6.8 BTC / $589,342
CME Futures Open Interest: 142,520 BTC
BTC priced in gold: 26.3 oz
BTC vs gold market cap: 7.45%
Technical Analysis
XRP, one of the year’s better-performing major altcoins, is again nearing a critical support zone between $1.95 and $2.05.
This region has consistently acted as a strong demand area, with buyers stepping in multiple times over the past four months.
Adding to its significance, the zone aligns with the 2021 all-time high and is now further supported by the daily 200 exponential moving average, which is also gradually converging toward this level.
Acceptance below this key level is likely to result in a larger expansion to the downside, given the loss of a key level that has reliably held as support for several months.
Crypto Equities
Strategy (MSTR): closed on Friday at $289.41 (-10.84%), down 3.49% at $279.38 in pre-market
Coinbase Global (COIN): closed at $173.93 (-7.77%), down 3.2% at $168.37
Galaxy Digital Holdings (GLXY): closed at C$16.45 (-5.68%)
MARA Holdings (MARA): closed at $12.47 (-8.58%), down 3.69% at $12.01
Riot Platforms (RIOT): closed at $7.41 (-4.63%), down 2.97% at $7.19
Core Scientific (CORZ): closed at $7.48 (+3.28%), down 3.74% at $7.20
CleanSpark (CLSK): closed at $7.19 (-8.29%), down 3.62% at $6.93
CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $13.13 (-6.48%), down 2.51% at $12.80
Semler Scientific (SMLR): closed at $36.86 (-0.16%), down 5.83% at $34.71
Exodus Movement (EXOD): closed at $47.84 (-8.49%), unchanged in pre-market
ETF Flows
Spot BTC ETFs:
Daily net flow: -$93.2 million
Cumulative net flows: $36.33 billion
Total BTC holdings ~ 1,121 million.
Spot ETH ETFs
Daily net flow: $4.7 million
Cumulative net flows: $2.42 billion
Total ETH holdings ~ 3.409 million.
Source: Farside Investors
Overnight Flows
Chart of the Day
Both bitcoin and ether are on track to post their steepest quarterly slides since second-quarter 2022.
While You Were Sleeping
Japan Mulls Reclassifying Crypto as a āFinancial Productā to Curb Insider Trading: Report (CoinDesk): Japan’s Financial Services Agency (FSA) is reportedly planning to submit amendments to the Financial Instruments and Exchange Act to the parliament as early as 2026.
‘No DOGE in D.O.G.E.’, Says Dogecoin Proponent Elon Musk (CoinDesk): Speaking at an America PAC town hall in Wisconsin on Sunday, Musk said there were no plans to use memecoin dogecoin (DOGE) for government operations.
Bitcoin Nears $81K; XRP, ADA Slide as Traders Brace for Tariff War Escalation (CoinDesk): Bitcoin hovered above $81,500 as major cryptocurrencies lost steam; XRP and ADA fell 5%, while SOL, DOGE and ETH dropped 2%-3%.
Chinaās Big State Banks to Get $71.6 Billion Capital Injection (The Wall Street Journal): The Finance Ministry will directly buy nearly 500 billion yuan ($71.6 billion) in new shares to boost lending amid falling margins and bad loans.
Germanyās Spending Push Drives Up Borrowing Costs Across Eurozone (Financial Times): Higher government bond yields across the euro area are raising debt concerns for countries like France and Italy, despite steady spreads and a firmer euro reflecting lingering investor optimism.
Greenlandās Prime Minister Says the U.S. Will Not āGetā the Island (The New York Times): In a Facebook post on Sunday, Prime Minister Jens-Frederik Nielsen rejected President Trumpās Saturday claim in an NBC interview that the U.S. will āgetā Greenland.
In the Ether
French right wing leader Marine Le Pen found guilty of embezzling public funds, barred from running for office
Woman refuses to keep junk food at home, sparks controversy and family arguments
David Beckamās ex-assistant Rebecca Loos stands by juicy affair claims in bombshell interview
The 47-year-old initially made her accusations in 2003 amid the professional soccer player’s marriage to Spice Girls member Victoria Beckham.