Welcome to the US Cryptocurrency Morning Briefing. We'll briefly summarize today's important cryptocurrency developments.
Prepare your coffee to read about the recent developments in the proposed tariff policy of US President Donald Trump. a federal judge ruled it unconitutional,iffs what implications might this have for Bitcoin (BTC) and cryptocurrencies?
Today's Cryptocurrency News: Federal Court Invalidates Trump trump's 'Liberation Day' Tariffs
The Federal Court dealt a significant blow to Donald Trump's aggressive trade agenda. They ruled his widely known """ tariffs unconstitutional.
The US District Court of Columbia sided with companies, trade associations, international alliances claiming the tariffs violated the constitutional separation of powers.
Trump announced the tariffs earlier this year. They were a core pillar of his economic strategy. The tariffs were imposed on imported goods Mexico, and Canada, targeting key goods like automobiles,, and agricultural products><.
Trump described this policy as a move to "liberateate the United States from from foreign economic dependence". However, the court did not agree with the legality of bypassing Congress.
๐จ BREAKING: Federal Trade Court BLOCKS Trump's "Liberation Day" Tariffs!
Unelected judges in Manhattan just killed our America First trade planโ10% tariffs on imports, 30% on China, 25% on Mexico/Canada goods.
They claim Trump overstepped, siding with globalists & 13 Democratโฆ pic.twitter.com/fABHIPHI4hT
Instead, the ruling emphasized that the Constitution grants primary authority to regulate international trade to Congress under the Commerce Clause, not the president.
"The president's claimed authority to impose tariffs in this case limitations in duration or and exceiff delegated to under IEEPA," the judges determined.
"judicial coup is out of control," Miller wrote in a post.
Meanwhile, the White White House condemned the ruling as "judicial judicial overreach" and promised to appeal.
Legal analysts expect this case to escalate to the Supreme Court, which will have broader implications for administrative powers.
The tariffs have been suspended, causing ripples in global markets. Futures rose with this news, and 10-year Treasury yields surpassed 4.5% amid investor reassessment.
Meanwhile, with bond yields rising, experts recently suggest Bitcoin could rise to $500,000 in recent US cryptocurrency news publications.
Court's Tariff Invalidation... Up to $10 Billion Could Be Refunded to Treasury
According to analyst Kyledoops, blocked tariffs could lead to up to $10 billion in refunds, with $3.5 billion attributed to China.
That's $10B in tariffs that might need tounded to โ including $3.5B to China.
The 10Y yield spiked above 4.50% right after..com/f./fRFKvuRuRWkW>โOps (@kyledoops) May 29, 2025
"We believe we've reached an absolutely critical moment where Trump tried to operate an international criminal racket from the White House," the media posted on X.
Markets are responding positively, with cryptocurrency stocks showing notable gains across the market.
Today's Chart
Today's Key News
Summary of today cryptocurrency news:
- As the correlation between Bitcoin and the S&P 500 reaches its highest point in months, TACO trading is flourishing, showing increased sensitivity to the macro trading narrative of cryptocurrencies.
- The US Dollar Index (DXY) has dropped more than 10 points year-to-date, indicating a sharp decline that could potentially trigger a Bitcoin rally amid a weakening dollar.
- Bitcoin (BTC) is gaining political support as JD Vance mentioned it as a hedge against inflation, central control, and economic instability.
- Blockstream has launched a new self-custody app at Bitcoin 2025, providing seamless asset management for both beginners and advanced users.
- The US Department of Labor has withdrawn its previous warning about cryptocurrencies in 401(k) plans and is now adopting a neutral stance.
- Nvidia's Q1 revenue increased by 69% year-on-year to $44.1 billion, with the data center segment accounting for 88% of total sales.
- Ethereum's Pectra upgrade has increased EIP-7702 transactions to nearly 1,000 per day, enhancing wallet functionality without changing addresses.
- Pakistan plans to launch a national strategic Bitcoin reserve, inspired by the US initiative.
- France has experienced three high-profile cryptocurrency-related kidnappings in five months, highlighting the increasing violent attacks targeting wealthy cryptocurrency holders.
- The Solana meme coin launchpad has reported a graduation rate of less than 1%, showing a sharp decline from mid-May's high figures and indicating market cooling.
Cryptocurrency Stock Pre-Market Overview
| Company | Closed on May 28 | Pre-Market Overview |
| Strategy (MSTR) | $364.25 | $372.40 (+2.24%) |
| Coinbase Global (COIN) | $254.29 | $261.00 (+2.64%) |
| Galaxy Digital Holdings (GLXY.TO) | $28.00 | $27.45 (-1.97%) |
| MARA Holdings (MARA) | $14.86 | $15.45 (+3.97%) |
| Riot Platforms (RIOT) | $8.38 | $8.58 (+2.39%) |
| Core Scientific (CORZ) | $10.78 | $11.10 (+2.97%) |
