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Another quiet day across the markets as investors remain in a holding pattern, waiting for further sporadic tariff announcements from the President. With no set schedule and unpredictable timing, these updates keep investors on their toes, leaving markets in wait-and-see mode as uncertainty lingers.
There will be no delays or revisions to the tariffs imposed on 14 countries earlier this week, Trump has confirmed they will go live on August 1st.
Overnight, a fresh 50% tariff on copper imports was announced, which saw Copper rally nearly 20% on the announcement, alongside threats of further sector-specific tariffs. Notably, Trump threatened tariffs of upto 200% on pharmaceuticals, although this would take 12 to 18 months to implement to give the industry time to adjust. Over the next three weeks, we can expect more of these unexpected updates, which should bring clarity on which countries face additional tariffs come August 1st.
Trump Media & Technology Group (DJT) Dives Deeper into Crypto
Trump continues to push into crypto through his Media company, Trump Media & Technology Group (DJT). A few months ago, they announced plans to acquire $2.5 billion worth of Bitcoin, and now they’ve filed for a “Crypto Blue Chip ETF” with the SEC. The proposed ETF would hold 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% Ripple.
Jack Dorsey Unveils Decentralised Messaging App ‘Bitchat’
In other crypto news, former X (Twitter) CEO Jack Dorsey has just launched a new decentralised messaging app called ‘Bitchat’. It offers end-to-end encrypted messaging and, as Dorsey describes, “provides ephemeral, encrypted communication without relying on internet infrastructure, making it resilient to network outages and censorship.” A standout feature Bitcoin users are testing is the ability to send Bitcoin without internet access via Bluetooth or mesh networks. The app stores transactions until it reaches an online device that can broadcast to the Bitcoin network, making it ideal for blackouts, emergencies, or off-grid use. So yes, you can transact offline, but the transaction still needs an internet-connected node to complete.
Stormrake Spotlight: Hyperliquid (HYPE) ($39.10)
Stormrake Spotlight: Hyperliquid (HYPE) ($39.10)
