Cryptocurrency Live News & Updates : Truth Social Files for Bitcoin and Ethereum ETF
The SEC has acknowledged receiving an ETF application from Truth Social for both Bitcoin and Ethereum. In recent developments, the U.S. Securities and Exchange Commission (SEC) has confirmed the receipt of an ETF application from Truth Social, aiming to offer exposure to Bitcoin and Ethereum. Meanwhile, Strategy (SMTR) has maintained its Bitcoin acquisition strategy, refraining from increasing holdings despite founder Michael Saylor's updates. In other news, U.S. Treasury Secretary Besent is set to announce significant trade updates within the next 48 hours. Additionally, Kuru Labs has successfully closed an $11.6 million funding round led by Paradigm to enhance its DeFi liquidity engine on the Monad blockchain. This funding will support the creation of a central-limit orderbook combined with automated market-making capabilities. Lastly, RICH Miner has introduced a novel cloud mining platform allowing users to mine Bitcoin using XRP, enabling a new passive income stream for investors. This innovative approach is attracting attention as it transforms XRP from a mere asset into a tool for generating income through Bitcoin mining. Show more
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Time of India
42 minutes ago
- Time of India
Trump says ‘no extensions' to August 1 tariff deadline; warns more letters to follow
US President Donald Trump on Tuesday doubled down on his sweeping tariff campaign, announcing that no further extensions will be granted, and that all countries must begin paying duties from August 1, 2025. The statement, made on Truth Social , came just a day after Trump had postponed the enforcement of his 'Liberation Day' tariffs by three weeks and signalled a possible willingness to remain flexible. 'As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 — No extensions will be granted. Thank you for your attention to this matter!' Trump posted on Wednesday. Mixed signals before the hardline Trump had reignited his global trade war on Monday, threatening more than a dozen countries with steep new tariffs—including 25 percent duties on Japan and South Korea—but also left room for talks. In letters sent ahead of the original July 9 deadline, Trump said countries had until August 1 to strike new trade deals or face automatic tariff hikes. When asked at a dinner with visiting Israeli Prime Minister Benjamin Netanyahu whether the August deadline was final, Trump had responded:'I would say firm, but not 100 percent firm.' Pressed further, he added, 'I would say final, but if they call with a different offer, and I like it, then we'll do it.' But the tone changed sharply with Tuesday's Truth Social post. Tariff letters and country-wise impact Trump's 'take it or leave it' letters to Japan, South Korea, and others warned that the tariff holiday granted in April was over. His administration had initially unveiled a 10 percent baseline tariff on all imports on April 2, then suspended any rates above 10 percent for 90 days following market volatility. According to letters posted online, Indonesia will now face a 32 percent tariff, Bangladesh 35 percent, Thailand 36 percent, and several African and Southeast Asian nations will see duties ranging from 25 to 40 percent. Countries like Laos and Cambodia saw lower tariffs than originally proposed, but the bulk of measures remained severe. Trump justified the higher rates in his letters by arguing that many of the U.S.'s trade relationships are 'unfortunately, far from Reciprocal.' 'All money will be due and payable starting August 1,' he said. He also warned against retaliation, stating there could be 'further escalation' if countries responded with their own duties. Global pushback and diplomatic outreach International reactions have been swift. Japan's Prime Minister Shigeru Ishiba said at a cabinet meeting that the 25 percent tariffs were 'genuinely regrettable,' according to local media. Meanwhile, South Korea's National Security Adviser Wi Sung-lac met with U.S. counterpart Marco Rubio in Washington, expressing hope for a bilateral summit to resolve 'key pending issues.' Further, Thailand's acting Prime Minister Phumtham Wechayachai said, 'The most important thing is that we maintain good relations with the US… I want a better deal than the 36 percent tariff.' Malaysia, also facing a 25 percent duty, said it remained committed to 'balanced, mutually beneficial, and comprehensive trade' with the U.S. At the White House, Press Secretary Karoline Leavitt said, 'It's the president's prerogative, and those are the countries he chose,' when asked why Japan and South Korea were first on Trump's list. Markets dip and BRICS warning The renewed trade threats triggered jitters in the financial markets. The Nasdaq fell 0.9%, while the S&P 500 lost 0.8% on Monday. The Trump administration, under pressure to deliver on its '90 deals in 90 days' promise, has so far concluded only two firm agreements, with Britain and Vietnam, along with a partial de-escalation in tariffs with China. Trump has also threatened an additional 10 percent tariff on countries aligning with the BRICS bloc, accusing them of 'Anti-American policies' after they criticised his tariff regime at a recent summit. Even so, diplomatic outreach continues. The European Commission said EU chief Ursula von der Leyen had a 'good exchange' with Trump on trade during a call on Sunday, signalling that backchannel negotiations remain active despite the president's public hardline stance.
Mint
an hour ago
- Mint
Wall Street Live: US stocks mixed as investors await new trade developments, Intel climbs 4.1%
US stock indices were mixed on Tuesday as investors awaited new trade developments after Trump administration slapped 25% tariffs on two Asian countries. As of 9:56 AM Eastern time, the benchmark S&P 500 was up less than 0.1%, the Dow Jones Industrial Average was down 0.1%, and the Nasdaq Composite was 0.2% higher. In the bond market, the yield on the 10-year Treasury rose to 4.43% from 4.39% late on Monday. US President Donald Trump on Monday imposed 25% tax on goods imported from Japan and South Korea. He also set new tariff rates on a dozen other nations, scheduled to go into effect on August 1. The Trump administration posted letters on Truth Social, warning various countries to not retaliate by increasing their import taxes, or else the US would further increase tariffs. Shares of Intel climbed 4.1% and Eli Lilly edged higher 1.5%. JPMorgan and Bank of America stocks were each down 1.9%. Amazon shares fell 0.2% as the online retail giant kicked off Prime Day sale. US benchmark crude was down 0.3%, while Brent crude, the international standard, was off 0.2%.
Time of India
an hour ago
- Time of India
Donald Trump says more tariff letters coming! US President warns no extension on August 1 deadline; ‘there has been no change…'
US President Donald Trump on Tuesday firmly declared that sweeping new tariffs on foreign imports will come into effect from August 1, 2025, warning that no further extensions will be granted. Taking to his Truth Social platform, Trump wrote, "As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025." "There has been no change to this date, and there will be no change." He added that all payments would be due starting August 1, 2025, with no extensions to be considered. 'Thank you for your attention to this matter,' he concluded. This latest statement sharply contradicts Trump's earlier comments when he had suggested the deadline was 'firm, but not 100 percent firm,' leaving some room for last-minute negotiations. US treasury secretary Scott Bessent had previously said the tariffs would not take effect until August 1, in an effort to allow more time for negotiations. Earlier on Sunday, while boarding Air Force One, Trump had told reporters he planned to send out '12, could be 15' letters the following day to countries across the globe. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Hours later, he confirmed via Truth Social that the letters would begin going out from 12:00 p.m. (Eastern) on Monday, July 7. The letters, addressed to more than a dozen nations including Japan, South Korea, Indonesia, Bangladesh, Thailand, South Africa and Malaysia, outline tariffs ranging from 25% to 40%, unless trade deals are reached before the August 1 deadline. Japan and South Korea, both key US trading partners, have already received notices confirming 25% duties from that date. India, is also currently in talks for the trade deal, which Trump claimed were very close to be finalised. On April 2, which Trump called "Liberation Day," he announced the first wave of tariffs, including a 10% duty on most imports and significantly higher rates for certain countries, including several EU members. However, the duties were put on hold for 90 days, setting an initial deadline of July 9, a pause that ultimately laid the groundwork for the new enforcement date of August 1. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
