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Donald Trump warned on Monday from the White House that Russia has exactly 50 days to end its war on Ukraine or face 100% secondary tariffs. Speaking to reporters, Trump said he’s had repeated phone calls with Russian President Vladimir Putin that always sound friendly but end up meaning nothing.

 “I speak to him a lot about getting this thing done, and I always hang up and say, ‘Well, that was a nice phone call,’” Trump said. “And then missiles launched into Kyiv or some other city, and I said, ‘Strange.’” His tone shifted sharply as he made it clear that the time for empty calls is over. “After that happens three or four times, you say, ‘The talk doesn’t mean anything.”

According to CNN, Trump had earlier set a two-week deadline for Putin to get serious. That was almost three months ago. Since then, Russia has continued bombing Ukrainian cities, including civilian targets, which led Trump to post on Truth Social:

“It makes me think that maybe he doesn’t want to stop the war; he’s just tapping me along.” He’s now given Moscow until early September to agree to a ceasefire or face sweeping trade penalties.

Trump says U.S. weapons going to Ukraine through NATO

At the briefing, Trump made it clear that the U.S. would continue supporting Ukraine militarily, but through NATO. He said the alliance would be responsible for both funding and distribution of weapons, not the United States directly.

The president didn’t offer further details on the kind or quantity of arms being sent, but the timing of this move shows he’s aligning with European partners while keeping pressure on Putin. “We’re going to be doing secondary tariffs if we don’t have a deal in 50 days,” Trump warned. “It’s very simple, and they’ll be at 100%.”

Secondary tariffs don’t just hit Russia, they affect any other country doing business with it. Trump didn’t name specific countries, but this kind of move could impact global trade networks connected to Moscow. The announcement sent the Moscow stock exchange surging, which seems odd given the threat.

But market analysts believe investors were bracing for something even more aggressive. Reports earlier this year had hinted at the possibility of 500% tariffs, which apparently didn’t happen. So for now, traders are reacting to the lower-than-expected number, even if it’s still painful.

Trump was also asked how far he would go if Putin escalated further. “Don’t ask me a question like that,” he snapped. But he followed it up by saying, “I want to get the war settled.” He added that Russia should stop the war and start rebuilding its economy instead. “They’ve got to get their economy back on track,” Trump said. “Russia has tremendous potential.” He insisted that the country should be using its resources for trade, not destruction.

Trump responds to sanctions bill but keeps distance

Trump also commented on a sanctions bill currently being discussed in Congress that would add harsher penalties on Russia. He said it could be helpful but stayed noncommittal. “I’m not sure we need it, but it’s good that they’re doing it,” he said.

A few seconds later, Trump added, “I don’t want them to waste their time.” Trump left the door open, saying the bill “could be very useful, we’ll have to see.” Senate Majority Leader John Thune is expected at the White House for a meeting, and a Senate vote on the bill is not scheduled until next week.

During his exchange with reporters, Trump also repeated that his conversations with Putin continue, but haven’t changed anything. “I speak to him a lot,” Trump said. “The conversations are always very pleasant, but the talk doesn’t mean anything once missiles hit cities.” He didn’t mention any upcoming negotiations, nor did he confirm whether Putin had responded to the new 50-day deadline.

With Putin still pushing his campaign in Ukraine and Trump now threatening full-scale trade retaliation, all eyes will be on whether Russia changes course or keeps going. If no deal is reached, and the tariffs kick in, they’ll slam Russia’s already-struggling economy and shake up global trade with every country still doing business with Moscow.

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At the Bitcoin 2025 conference in Las Vegas, Strike’s CEO, Jack Mallers, unveiled an ambitious strategy to rival Michael Saylor’s Bitcoin dominance.

As the chief executive officer of one of the most talked-about ventures in digital assets — Twenty-One Capital Inc., Mallers aims to reshape corporate Bitcoin holdings and challenge Saylor’s firm, Strategy (formerly MicroStrategy), which currently holds over 580,000 BTC, valued at approximately $64 billion.

Jack Mallers aims for Saylor’s crown with billion-dollar Bitcoin bet

Twenty-One is supported by the investment bank Cantor Fitzgerald LP, stablecoin powerhouse Tether Holdings SA, and the Japanese investment firm SoftBank Group. The company is not simply following the ever-expanding list of businesses chasing after the opportunity to imitate Strategy, Michael Saylor’s software firm that has been transformed into a leveraged proxy for Bitcoin — it is trying to beat it. 

Twenty-One Capital, backed by notable entities including Tether and Cantor Fitzgerald, recently disclosed a $458 million Bitcoin acquisition. The firm plans to publish its Bitcoin addresses to verify its reserves, emphasizing transparency in its operations.

In contrast, Michael Saylor’s Strategy continues its aggressive Bitcoin accumulation, recently purchasing an additional 4,020 BTC, bringing its total holdings to over 580,000 BTC.

Mallers envisions Twenty-One Capital acquiring up to 5% of Bitcoin’s total supply, approximately 1 million BTC, signaling a bold ambition to rival Saylor.

Many people outside the crypto community have recognized Jack Mallers mostly for being emotional in 2021 when he announced that Bitcoin would become legal tender in El Salvador at the biggest conference in Miami. 

How Mallers ended up as the leader of Twenty One may be as interesting as Mallers’s story about turning El Salvador’s President Nayib Bukele onto Bitcoin.

Mallers narrates his journey to explore Bitcoin 

Mallers explained that his path to Twenty-One went through Tether Holdings SA CEO Paolo Ardoino, who has known Mallers since his early days in Bitcoin. Mallers began revealing his exploration of Bitcoin. He explained that he grew up in and around traditional finance and was first exposed to Bitcoin in 2013 when his father co-founded and sold a discount futures brokerage. 

Apart from his father, his stepmother is deep in the crypto world, known as BitcoinMom on X. Mallers dropped out of college and founded Zap Solutions Inc., Strike’s parent company, when he was 23.

Mallers also revealed that Tether’s sister company, Bitfinex, was the first major exchange to implement the Lightning Network. He continued by saying that he was one of the most vocal early developers of the Lightning Network, referring to the Bitcoin payment protocol. “And so Paolo and I would talk, and that was à la 2017,” the CEO of Strike concluded.

In the meantime, Tether was establishing a deeper relationship with Cantor Fitzgerald, the investment bank that US Secretary of Commerce Howard Lutnick led before he was recruited to work as part of President Donald Trump’s executive staff. Cantor helps oversee Tether’s reserves and holds a convertible bond with the largest Stablecoin operator. Lutnick has helped transform Tether, a firm formerly eyed with suspicion by Washington, into an unlikely ally of the president. 

Due to Cantor’s ties with Trump, Mallers mentioned that Tether is the only link between him and the bank and Lutnick, whose son Brandon currently manages the company.  He admitted that he did not know Brandon well, but he was his banker.

Crypto investors prefer Mallers to Saylor as a perfect choice for Twenty-One

Mallers and Tether crossed each other’s paths over the years, including overlapping in El Salvador, where Strike and Tether now have headquarters. 

When Mallers launched Strike in El Salvador in 2021, it became the most downloaded app in the country. Strike first relied on Tether’s USDT stablecoin as a substitute for the dollar, but it quickly dumped USDT in favor of partnerships with banks in El Salvador. In 2023, Strike started adding Tether again to its platform.

However, it was not until the end of last year when the concept for Twenty- One began to take shape, Mallers said. Mallers remembers meeting Tether and their team in November at a Plan B Forum, a conference co-hosted by the Swiss city of Lugano and Tether.

“We had a smart conversation about the direction of the world, their plans, and my plans,” Mallers said. 

For many people, Mallers is an appealing choice to lead Twenty-One because he is so frank about his defense of Bitcoin. Whereas Saylor frequently appears as a serious businessperson, Mallers comes across with the “crypto bro” appeal that is quite attractive to retail crypto investors. 

Additionally, Mallers, like many online influencers, is active on his YouTube channel, where he uploads videos and hosts a weekly podcast about Bitcoin and the financial systems called The Jack Mallers Show.

Mark Palmer, a senior analyst for fintech and digital assets at Benchmark, also stated that although Michael Saylor’s role as a promoter of Strategy and Bitcoin had been incredibly helpful, Jack Mallers, who is a charming person and famous in the crypto world, is a great choice to promote both Twenty-One Capital and Bitcoin.

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According to Cointelegraph, Bitcoin traders are closely monitoring U.S. economic signals as the Federal Reserve faces mounting pressure from rising unemployment and inflation. Analysts suggest that a recession is becoming increasingly likely, which could ultimately benefit Bitcoin and other risk assets. The Kobeissi Letter, among other sources, predicts a challenging economic landscape for the United States, with the Federal Reserve caught between managing inflation and unemployment.

The U.S. economy is expected to suffer due to trade tariffs and inflation, creating a difficult situation for policymakers. Recent macroeconomic data, including the first quarter GDP and the Fed's preferred inflation measure, have placed officials in a difficult position. The GDP figures fell short of expectations, turning negative against a forecasted 0.3% gain. The Kobeissi Letter describes this as the Fed's "worst nightmare," highlighting the dilemma of choosing between controlling inflation or unemployment. Interest rate cuts are a focal point for crypto and risk-asset traders, as they could positively impact markets. However, the timing and extent of these cuts remain uncertain. Not reducing rates could further weaken GDP and increase unemployment, while immediate cuts might lead to another inflation surge. This "lose-lose" scenario presents the Fed with the dual threat of stagflation and a full-blown recession. The Kobeissi Letter now considers a U.S. recession as the base case scenario, supported by rising odds on prediction platforms like Kalshi.

Data from CME Group's FedWatch Tool reflects market expectations for Fed policy, which has remained conservative through 2025, despite U.S. President Donald Trump's calls for lower rates. The Federal Open Market Committee's (FOMC) June meeting is anticipated to trigger the next 0.25% rate cut, although the May meeting has only a 3% chance of such an outcome. Crypto market participants are assessing the Fed's potential actions as economic conditions become increasingly challenging. Popular trader Skew noted a shift in market sentiment, with a 63% probability of a 25 basis point cut for the June 18th FOMC meeting, up from 57% the previous day. The Fed's concerns about price pressures are compounded by economic weaknesses, especially if policy adjustments are delayed.

Crypto trader and analyst Michaël van de Poppe believes that the growing recession rumors could prompt the Fed to reconsider its policy stance. He suggests that a recession might lead to policy loosening, potentially marking a market low, increasing liquidity, and fostering a risk-on environment. This article does not offer investment advice or recommendations. All investment and trading decisions involve risk, and readers should conduct their own research before making any decisions.

Executives from some of America’s biggest companies sold off billions of dollars in shares right before Trump’s tariff announcement hit the markets. The trades happened during the first quarter of 2025, as tension built around the White House’s next economic move.

According to Bloomberg, names like Mark Zuckerberg, Safra Catz, and Jamie Dimon all dumped massive blocks of stock while prices were still high. By the time Trump rolled out new tariffs on April 2, tech stocks had already started bleeding. Every one of those early sellers dodged a bullet, and the timing is loud as hell.

Zuckerberg sold 1.1 million shares of Meta through his Chan Zuckerberg Initiative and its connected nonprofit. Those sales brought in $733 million before Meta’s stock took a 32% nosedive. The trades happened in January and February, when shares were still above $600. On February 14, Meta hit a high of over $736, the same day Zuckerberg’s net worth peaked at $259 billion. As of the last count, he’s down to $178 billion, still ranked third in the world behind Elon Musk and Jeff Bezos.

Catz didn’t wait around either. The Oracle CEO exercised and sold off 3.8 million shares in January, worth $705 million total. At the time, Oracle’s stock was trading above $180, but it has since dropped more than 30%. Bloomberg listed her net worth at $2.4 billion for the first time, mostly from this sale and her remaining holdings. Public filings showed the trades followed a 10b5-1 plan, which she typically uses when her options are set to expire. Her personal stake in Oracle is smaller now, but her bank balance isn’t.

Jamie Dimon, the JPMorgan boss, pulled out $234 million from the market in Q1. His first big trade happened on February 20, right after the bank’s stock hit a 2025 high. Bloomberg said he has a net worth of $3 billion, and his selling didn’t stop in Q1. On April 14, he dumped another 133,639 shares worth $31.5 million, bringing his total this year to over $265 million.

Executives sold billions as Trump’s tariffs loomed

The first quarter wasn’t quiet. Trump’s team hinted at sweeping tariffs leading up to April 2, a day he branded as “Liberation Day.” That threat shook investors. By the time the announcement dropped, billions had already been erased from global markets. The tech world felt it the hardest. Elon Musk reportedly lost $129 billion this year as stocks tied to phones, chips, and software kept slipping. A few billionaires are already buying the dip, but plenty have already made their exit.

The Washington Service tracked a total of 3,867 people who sold stock in Q1 2025, totaling $15.5 billion. That’s lower than Q1 2024, when 4,702 people sold $28.1 billion worth of shares. That wave last year was led by Bezos, who sold $8.5 billion in Amazon stock in February. This year, the exits were more balanced. Ten people sold over $3.8 billion combined.

Nikesh Arora, CEO of Palo Alto Networks, dumped 2.36 million shares worth over $432 million. He’s been exercising stock options at the beginning of each month under a 10b5-1 plan from March 2024, and filings show he’s continued selling through April. His total take this year is now more than $565 million, with over $100 million in exercise costs.

Max de Groen, a Nutanix board member from Bain Capital, sold 5.5 million shares worth $409 million. Bain converted a note last summer that gave them 16.9 million shares. De Groen said at the time that Bain didn’t plan to sell, but eight months later, they flipped about a third. Nutanix’s stock climbed more than 56% between the note conversion and the sale on March 4. Since then, it’s dropped 20%.

Chuck Davis, co-CEO at Stone Point Capital, sits on the board of Axis Capital Holdings, a Bermuda insurance firm. Axis repurchased $400 million worth of its own stock in February and March from an investment vehicle run by Stone Point. Davis’s name is tied to 4.37 million shares sold for just under $400 million.

Stock dump continued across tech, banking, and healthcare

Stephen Cohen, president of Palantir, got out with $337 million in Q1. His shares were sold under a 10b5-1 plan, part of a larger wave. Palantir insiders offloaded $4 billion last year, and 2025’s off to a similar start. The company’s stock doubled between mid-January and mid-February, and it’s still up 24% year-to-date. Cohen’s personal worth now sits at $3.3 billion, most of it tied to Denver-based Palantir options.

Eric Lefkofsky, CEO of Tempus AI, sold 4.05 million shares worth $231 million. Tempus went public in June, and shares have climbed more than 9% since. A rep from the company said some of the sales covered IPO costs. Lefkofsky has a 10b5-1 plan that lets him sell 1% of his stake every quarter.

Ted Sarandos, co-CEO of Netflix, sold 199,063 shares for nearly $195 million on January 30. He used $21 million to exercise the options, which expire between 2026 and 2032. He’d set up the 10b5-1 plan back in October.

Travis Boersma, co-founder of Dutch Bros, sold 2.5 million shares for $189 million in February. The shares were held in trusts under his control. He launched the Oregon coffee brand with his late brother in 1992. He used to be a dairy farmer, and became a billionaire in 2021 when the company went public.

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