Crypto Market Plunges on Tariffs

CRYPTO
Crypto Market Plunges on Tariffs

The crypto market dropped 6% in the past 24 hours, losing $160 billion in value, after President Trump announced sweeping new tariffs on foreign imports. Bitcoin fell 6% to $81,000, while Ethereum dropped 7%, Solana 13%, and XRP 8%. The tariffs include a 10% baseline on all foreign goods, 25% on foreign cars, 20% on EU imports, and 46% on Vietnamese goods, sparking widespread concern about inflation and a potential recession.

Crypto, seen as a riskier asset class, was hit harder than stocks, with the Dow and S&P 500 each falling over 3%. Nicholas Roberts-Huntley, CEO of crypto firm Concrete, said crypto is “especially reactive” in times of uncertainty. Trump’s move is seen by many as a negotiating tactic but could lead to long-term economic consequences. The sell-off extends a broader crypto slump that began in December, with Bitcoin down from its $109,000 high in January to $78,000 last month.

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TECH
Investors Urge Musk to Refocus

Elon Musk has denied reports that he plans to leave his role in the Trump administration, calling the rumors “fake news” after Politico claimed Trump told insiders Musk would soon return to Tesla full-time. The speculation briefly lifted Tesla’s stock, offering rare optimism after the company posted its worst sales quarter since 2022—a 13% drop in deliveries.

Investors had hoped Musk would refocus on Tesla as the automaker faces protests, boycotts, and a damaged brand. His political involvement, especially his failed $25 million push to influence a Wisconsin state supreme court election, has drawn backlash. Musk had framed the race as critical to Western civilization, but his candidate lost. Analysts like Dan Ives, once supportive, now warn that Musk’s continued absence is harming Tesla. With global protests erupting and delivery numbers tanking, many believe Musk must step away from politics or risk permanent damage to Tesla’s future and brand reputation.

TECH
UN Warns AI Could Widen Inequality

Artificial intelligence is projected to reach a $4.8 trillion market value by 2033, comparable to Germany’s economy, according to a new UNCTAD report. While AI offers major productivity gains and the potential to transform industries, the benefits remain highly concentrated in a few nations and companies, notably in the U.S. and China.

The report warns that AI could impact up to 40% of jobs globally, increasing inequality, especially in developing economies where low-cost labor may lose its competitive edge. Moreover, just 100 firms account for 40% of AI-related R&D, and tech giants like Apple and Microsoft now rival the GDP of entire continents. UNCTAD stresses the need for inclusive global cooperation, urging investment in reskilling, open-source development, and shared AI infrastructure. It also recommends that developing countries be given a voice in shaping AI regulation. With the right policies, AI could drive global prosperity — not just deepen existing divides.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.