Crypto Chronicles:Again Tariffs

1-Trump blames Biden as markets weaken on GDP and tariff turmoil

After fresh statistics revealed that the economy of the United States shrunk for the first time since 2022, the S&P 500 index increased by 0.15 percent, the Nasdaq Composite index decreased by 0.86 percent, and the Dow Jones Industrial Average increased by 141 points.

The Department of Commerce reports that the Gross Domestic Product (GDP) for the first quarter decreased at an annualized rate of 0.3%, reversing a rise of 2.4% from the previous quarter.

In part, the contraction may be linked to a 41% increase in imports, which occurred as firms stocked up in preparation for the impending tariffs that President Trump would implement.

Consumer spending also dropped to its worst rate in over a year, while government expenditures decreased, further pulling on growth. Both of these factors contributed to the slowdown.

After President Trump temporarily halted some tariffs and made hints about possible trade agreements with nations such as India, the markets had surged earlier in the month. However, investors were able to process the bad economic statistics, fears about inflation, and lack of clarity about trade discussions, which led to a return of volatility.

Losses in April come on the heels of a precipitous decline that occurred when President Trump announced on April 2 that he would be imposing "reciprocal" tariffs. At one time, the S&P 500 dropped by more than 11%.

On Truth Social, Trump attempted to transfer responsibility for the economic collapse by posting, "This is Biden's Stock Market, not Trump's," and claiming that a "Biden Overhang" was the reason for the low results. He advised patience, stating that it would take some time for his initiatives to have the desired outcomes.

The performance of the stock market over the first one hundred days of President Trump's second term is among the worst of any president's first 100 days in modern business history.

One of the key causes, according to analysts, is the ongoing uncertainty over policy. According to Kelly Bouchillon, who works for Sound View Wealth Advisors, "this is very clearly brought on by the uncertainty surrounding the tariffs, period."

In the meanwhile, big corporations such as First Solar and GE HealthCare have reduced their projections as a result of headwinds connected to tariffs. Nvidia's stock price dropped as well, after the unsatisfactory results that Super Micro Computer reported recently.

2-According to a recent research, more than half of the millennials in the United States possess cryptocurrency. What else did we know about this?

Artificial intelligence (AI) and cryptocurrency are becoming more popular among millennials, as stated in the report titled "Millennial Shopping Habits: Trend Report 2025." When it comes to online shopping, artificial intelligence is utilized to provide help, while cryptocurrencies are used not only as a method of payment but also as a savings currency or investment. The percentage of millennials who use artificial intelligence for shopping is 54%, while the percentage who use it for cryptocurrency is 53%.

While 53% of millennials who were polled had digital currency in their possession, 7% have never ever heard of cryptocurrency. Only 39% of people are aware that cryptocurrencies exist, but they do not have any of them in their possession. More than fifty-five percent of millennials under the age of forty possess cryptocurrency. Fewer than forty-five percent of millennials between the ages of 39 and 44 have cryptocurrencies in their possession, and almost ten percent of them are unaware of what cryptocurrency is.

In terms of gender, male millennials are often more engaged in the cryptocurrency space. There are 66% of male respondents who possess cryptocurrency, whereas just 45% of female respondents do. Thirty percent of males are aware of cryptocurrency but do not own any. This percentage drops to 45% for females. According to the statistics, the percentage of men and women who are completely uninformed about cryptocurrencies is 4% and 10%, respectively.

3-The Crypto Council for Innovation demands that the SEC make the staking regulations more clear

A joint statement was sent by the coalition in response to the recent request for public feedback made by the Securities and Exchange Commission (SEC) about whether or not staking and liquid staking should be governed by federal securities laws. The letter outlined the reasons why the group believes that staking should not be considered a securities activity.

In the midst of mounting requests from the cryptocurrency sector for regulatory clarification around basic blockchain technology, the letter was sent to Hester Peirce, who is the Commissioner of the Securities and Exchange Commission.

Coinbase, the Ethereum Foundation, ConsenSys, and the Blockchain Association are some of the organizations that are members of the Proof of Stake Alliance, which is overseen by the Council. This group stated that staking is not an investment arrangement but rather a "technical process" that helps protect proof-of-stake networks.

According to the coalition, staking does not satisfy the legal criteria of a "investment contract" according to the Howey test. The Howey test is the primary framework that the Securities and Exchange Commission (SEC) use in order to decide whether or not something is considered a security.

Stakeholders, according to their argument, do not invest money with the hope of making a profit attributable to the labor of other people. Users, on the other hand, retain complete ownership of their tokens, which they are free to withdraw at any moment, and the blockchain protocol is responsible for automatically determining any incentives that may be awarded.

as addition, the letter noted that stake providers are not accountable for earning profits, as contrast to conventional firms, which are dependent on the choices made by management in order to create returns. In its place, staking services perform the function of intermediaries, connecting users to blockchain networks in which the protocol is responsible for autonomously determining where rewards are distributed.

References

https://crypto.news/crypto-council-for-innovation-calls-on-sec-to-clarify-staking-rules/

https://crypto.news/over-half-of-the-u-s-millennials-own-crypto/

https://crypto.news/trump-blames-biden-as-markets-weaken-on-gdp-and-tariff-turmoil/