Trump Launches Crypto Wallet Project

CRYPTO
Trump Launches Crypto Wallet Project

Donald Trump’s crypto expansion continues, with the team behind the $TRUMP memecoin announcing a waitlist and X account for a new Trump-branded crypto wallet. The wallet, designed for trading crypto, NFTs, and blockchain assets, is reportedly being launched in partnership with NFT platform Magic Eden and powered by Slingshot Finance. Users will be able to trade Bitcoin, Ethereum, and more. Magic Eden’s CEO confirmed the launch on X, while Eric and Don Jr. Trump denied involvement.

This wallet is the latest in a series of Trump-related crypto ventures, including NFTs, memecoins, a stablecoin, a DeFi app, and even a crypto-powered video game. Critics, including ethics groups and lawmakers, warn of major conflicts of interest, especially as Trump’s administration has pushed for looser crypto regulation.

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FINANCE
Elon Musk Slams Trump Tax Bill

While markets showed signs of optimism, tensions rose in the Trump administration as Elon Musk publicly condemned a Trump-backed tax bill, calling it a “disgusting abomination.” Musk, who previously led the White House’s Department of Government Efficiency, criticized the bill for being “pork-filled” and harmful, especially to social programs like Medicaid.

His public break signals a deepening rift, despite earlier close ties to Trump through campaign support and a temporary government role. Musk announced he would now return full-time to Tesla and SpaceX. The bill also includes steep tax cuts, increased military spending, and controversial measures on migrant deportations—further fueling backlash. Some lawmakers have privately echoed Musk’s concerns but have yet to speak out publicly.

Despite the political drama, investors focused on a potential meeting between Trump and Chinese President Xi Jinping, sparking a 0.58% rise in the S&P 500, with Nvidia up 2.8%. Hopes of a trade deal continue to influence market sentiment.

TECH
Nvidia Becomes World’s Most Valuable

Nvidia has overtaken Microsoft to become the most valuable publicly traded company, reaching a $3.45 trillion market cap after its stock rose 3% to $141.40 on Tuesday. Microsoft closed slightly behind at $3.44 trillion. Nvidia’s growth, driven by soaring demand for its AI chips, has pushed the stock up nearly 24% in the past month, despite ongoing concerns around tariffs and export restrictions.

The chipmaker reported $44.06 billion in fiscal Q1 revenue, up 69% year-over-year, with adjusted earnings of $0.96 per share. Its AI accelerators are used by major tech firms like OpenAI, Microsoft, Google, Meta, and Amazon to power advanced AI systems, including ChatGPT.

Founded in 1993 for 3D gaming graphics, Nvidia has transformed into a global leader in AI computing. Other chip stocks also rose Tuesday, including Broadcom (+3%) and Micron (+4%).

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.