This week in crypto was wild! Let’s break down the biggest stories.
Trump’s Tariff Troubles
President Trump’s 25% tariffs on Canadian and Mexican imports sent shockwaves through both crypto and traditional markets. Bitcoin briefly dipped, and the Fear & Greed Index plunged into “Fear” territory. While the immediate market reaction was negative, some analysts suggest this could be a long-term strategy to weaken the dollar.
Eric Trump’s ETH Endorsement
Eric Trump, seemingly the family’s crypto guru, tweeted his support for Ethereum ($ETH) as it took a hit from the tariff news. This move makes sense, considering World Liberty Finance (WLFI), a company he’s involved with, holds a significant amount of ETH. Their investment is currently underwater, so his endorsement might be a way to boost the price.
A Sovereign Wealth Fund…with Bitcoin?
Trump established America’s first federal sovereign wealth fund, leading Senator Lummis to hint at potential Bitcoin investment. This could be a game-changer, mirroring Norway’s strategy of indirect crypto exposure through company investments.
Musk’s Blockchain Treasury Proposal
Elon Musk proposed moving the entire $1.5 trillion US Treasury onto the blockchain. While ambitious and potentially beneficial for transparency and efficiency, this idea is facing significant skepticism.
Google’s Big AI Bet
Google announced a massive $75 billion investment in AI, causing Wall Street to react negatively despite Google’s CEO calling it a “small” expenditure. This massive investment highlights the intense AI race among tech giants, potentially boosting AI-related crypto projects.
Crypto Gaming Gets a Boost
The crypto gaming world saw some exciting developments:
- NFL Rivals: Mythical Games launched a Super Bowl promotion for its NFT mobile football game.
- GTA 6: Streamers are planning a crypto-focused server for the upcoming game, despite Rockstar’s past ban on crypto in GTA Online.
- StepMania: A new move-to-earn (M2E) fitness app launched, similar to the popular StepN game.
MIND of Pepe: An AI Token to Watch
The current climate, with Trump’s pro-crypto stance and the AI boom, is favorable for altcoins, especially AI tokens like MIND of Pepe ($MIND). This self-sovereign agent runs on Ethereum and offers market analysis and other features. It’s currently in presale and has already raised millions.
The Bottom Line
This week highlighted the impact of political decisions and the growing importance of AI in the crypto space. The market remains volatile, so it’s crucial to do your own research (DYOR), diversify your portfolio, and only invest what you can afford to lose.
