✔️Investors sue Nike for $5m, allege RTFKT shutdown was a rug pull.
✔️A cohort of non-fungible token holders has filed a class-action lawsuit against Nike over the abrupt shutdown of its RTFKT platform. #BinanceAlphaPoints
✔️Crypto breaks $3 trillion as bond vigilantes tame tariff fears.
✔️The ongoing crypto price recovery can be attributed to a group of investors known as the bond vigilantes, a term coined by economist Ed Yardeni.
✔️These vigilantes are investors who often keep the government in check by selling bonds when there is a significant policy change. By selling their bond holdings, these investors typically push yields high and make it expensive for the government to borrow.
✔️The rally mirrored the stock market’s performance. US stock indices, such as the Dow Jones and the Nasdaq 100, have all jumped by over 10% from their monthly lows. International indices like the German DAX and French CAC 40 have also jumped.
✔️Earlier this month, President Donald Trump delivered his Liberation Day speech. The highest levies were applied to China, but a baseline 10% tariff was applied across the board with additional reciprocal tariffs that vary by nation.
✔️But Trump blinked after so-called “bond vigilantes” sprung into action. Investors essentially sold off bonds to pressure the government to reverse course.
✔️“The Bond Vigilantes have struck again,” wrote Yardeni. “As far as we can tell, at least with respect to U.S. financial markets, they are the only 1.000 hitters in history.” #xrpetf #BinanceAlphaPoints
✔️Trump’s top memecoin holders’ dinner is an “impeachable offense,” says Sen. Ossoff
✔️President Trump will personally gain from increased trading of his memecoin, which has raised legal and ethical concerns over the dinner.
✔️According to the official website for Trump’s memecoins, the top 220 holders of $TRUMP will be invited to attend a gala dinner with the president on May 22. The dinner, advertised as the “most exclusive invitation in the world,” will be held at Trump’s Private, Members-Only Club in Washington, D.C. #TariffPause #dinnerwithtrump
✔️US Banks No Longer Have to Notify Crypto Activities: Fed Withdraws Draconian Rules
✔️The Federal Reserve has withdrawn two rules that previously required banks to notify in advance of any crypto or stablecoin activities.
✔️The first rule, issued in 2022, focused on crypto-assets, while the second, introduced in 2023, centred on stablecoins. #BTCvsMarkets #dinnerwithtrump