Trump Accuses China of Violating Trade Agreement
In a post on social media, US President Donald Trump claimed that China recently suffered a severe economic crisis and “completely violated” the trade agreement with the United States. Claiming that the high tariffs imposed on China caused factory closures and social unrest in the country, Trump said that he made a quick deal with China on humanitarian grounds, but that his “good intentions” were abused in return.
Trump’s Statements Cause Decline in US Futures
Trump’s vague statements on trade policies on social media had a negative impact on futures on US stock markets. Dow Jones futures fell by 0.5%, while S&P 500 and Nasdaq 100 futures lost around 0.7%.
EU Commissioner: US Court Ruling Increases Uncertainty on Tariffs
European Commission Trade Commissioner Valdis Dombrovskis said that the US court ruling on tariffs has created more uncertainty in the trade environment. Speaking to CNBC, Dombrovskis described the current environment as “volatile” while emphasizing that the EU is committed to negotiating with the US and that the relationship is very important economically. Tariffs have immediate economic consequences for both sides, he said.
Federal Reserve Spokesperson: “Excellent” Inflation Report Hides Two Major Concerns
Fed spokesperson Nick Timiraos noted that today’s inflation report, which was described as “excellent”, contained two potential problems: Analysts expect the rise in commodity prices to accelerate in May (especially in June) with the implementation of the “Freedom Day” tariffs. Given that inflation has already cooled in mid-2024, the annualized base itself is no longer advantageous, he said.
Hong Kong’s “Stablecoin Regulation” Officially Enters into Force
On May 30, the Hong Kong government published the “Stablecoin Ordinance” in the Official Gazette, which provides the legal framework for stablecoins pegged to fiat money. The ordinance states that only licensed entities can sell stablecoins and that sales to retail investors will be possible. The Hong Kong Monetary Authority announced that no license has yet been issued, and investors should be wary of false advertisements and scams.
Canary Staked CRO ETF Files S-1 Application with SEC
The Canary Staked CRO ETF has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC), seeking listing on the exchange. The ETF is designed to provide exposure to the Cronos (CRO) price, participate in the validation process on the Cronos POS chain and generate additional CRO revenues. The ETF’s net asset value (NAV) will be calculated based on the market price of the CRO.
Revolut Plans to Relaunch Crypto Services in the US
Speaking to Cointelegraph, Mazen ElJundi, head of Revolut’s crypto division, revealed that the company plans to relaunch its crypto services in the US in the near future. Revolut had previously halted its services in the US for regulatory reasons.
Sui Community Approves Return of $162 Million Lost in Cetus Attack
Sui validators unanimously agreed to return $162 million in assets frozen in the Cetus attack to the victims. This decision paves the way for a full refund and reboot plan for users.
Bank of Italy Governor: Digital Euro More Effective Than MiCA in Managing Crypto Risks
Bank of Italy Governor Fabio Panetta said MiCA regulation in Europe has had limited impact on compliant stablecoin adoption and the digital euro will play a more critical role in managing crypto risks.
FTX Launches Second Payout Phase: Over $5 Billion in Stablecoins to be Distributed
FTX launched the second payment phase as of 15:00 UTC. The company announced that it will distribute more than $5 billion in stablecoins to creditors. This distribution covers “eligible” users who were creditors in the previous bankruptcy process.
US, Annual Core Personal Consumption Expenditures Price Index Released
Announced: 2.5%
Expectation: 2.5%
Previous: 2.6
by Darkex Research – 1 min read
Click for Market Pulse news articles prepared by the Darkex Research Team.
