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#CryptoIn401k : Fizz founders flee Cali: 'NYC is where the action is!' | NYNext
William Zimmerman sits down with the visionary minds behind Fizz Social, the groundbreaking platform built to combat the pressures of traditional social media for college students.
While August is typically a sleepy month for IPOs, Peter Thiel-backed crypto firm Bullish (appropriately named, it would seem) is set to buck that trend later this month with an initial public offering on the New York Stock Exchange. 
Sources told me the round is already oversubscribed, with six times more investors trying to get in than can be accepted — Blackstone and Ark Invest have some of the largest buy-ins — in a sign that crypto mania is continuing. 
After a prolonged crypto-winter where the price of digital coins was in the doldrums, Bullish’s impending IPO is the latest indication that we have reached crypto summer.

Bull Market and ETFs: A bull market has emerged following the approval of ETFs, which has increased investor confidence.
* AI and Crypto: There is a growing intersection between artificial intelligence and cryptocurrency.
* Decentralized Finance (DeFi): DeFi continues to be a major trend, creating decentralized financial systems using blockchain technology.
* Central Bank Digital Currencies (CBDCs): Many central banks are exploring the issuance of their own digital currencies.
* Regulation: As cryptocurrencies become more mainstream, regulators are increasing their focus on the space to balance innovation and consumer protection.
* Tokenization of Real-World Assets (RWAs): Interest in using blockchain to tokenize real-world assets like real estate and precious metals is growing.
* Sustainability: The environmental impact of cryptocurrencies is a hot topic, leading to a trend towards more sustainable cryptocurrencies.
* Stablecoins: These cryptocurrencies, pegged to stable assets like gold or the US dollar, continue to drive adoption.
* Institutional Adoption: More corporations and institutions are adopting the cryptocurrency ecosystem.$BTC
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As of Friday, August 8, 2025, Bitcoin's price is hovering around the $114,000 to $115,000 range. The cryptocurrency market has been experiencing a period of consolidation, with Bitcoin's price showing some volatility but remaining within a key trading range.
Here's a summary of recent updates:
* Price Movement: Bitcoin has seen fluctuations, trading below a key resistance level of $116,000. It has been described as being in a "healthy consolidation phase" by some analysts, with a potential for a breakout if it can decisively move past this resistance.
* Market Sentiment: The market has shown cautious sentiment, reflected in recent outflows from Bitcoin ETFs. However, there have been signs of renewed institutional interest and inflows returning to some crypto investment products, suggesting a possible shift in confidence.
* Macroeconomic Factors: The market remains sensitive to macroeconomic conditions and regulatory news.
* Long-Term Outlook: Despite the recent short-term volatility, some analysts maintain a bullish long-term outlook, citing continued institutional demand and the market's overall resilience. Bitcoin's price has shown a strong long-term trajectory, with its value significantly higher than a year ago.
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$ETH $ETH #BitcoinTreasuryWatch

Binance:
1. Paxos Settlement over AML Failures:
* Paxos Trust Company has reached a $48.5 million settlement with the New York Department of Financial Services (NYDFS) for its anti-money laundering (AML) failures related to its past partnership with Binance.
* The NYDFS investigation found that Paxos failed to conduct sufficient due diligence on Binance and had "systemic failures" in its AML program.
* A review of transactions from July 2017 to November 2022 found that approximately $1.6 billion on the Binance platform involved illicit actors, and Binance also processed transactions with entities sanctioned by the U.S. Office of Foreign Assets Control.
* The settlement includes a $26.5 million penalty to New York State and an additional $22 million investment by Paxos into its compliance program.
2. Binance Product and Service Updates:
* Binance has introduced direct crypto-to-card withdrawals for European users via Mastercard, enabling near-instant conversion of digital assets to funds on linked cards.
* There have been several new cryptocurrency listings on Binance, including ERA, LAToken (LA), Sahara AI (SAHARA), and Spark (SPK), among others.
3. Binance.US Updates:
* Binance.US has updated its OTC trading portal with new maximum order limits for over 35 trading pairs.
* The company is also launching an API partner program for automated trading platforms.
* Binance.US has been involved in various network upgrades and hard forks for different cryptocurrencies, including Cardano (ADA), Horizen (ZEN), and Ethereum Classic (ETC).
* The exchange also recently delisted several tokens, including Balancer (BAL) and CLV.
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🇺🇸 Trump’s Reciprocal Tariff Strategy on Global Trade
Overview: Former President Donald Trump adopted a reciprocal tariff policy aimed at reshaping global trade by imposing tariffs that matched or exceeded those levied by other countries on U.S. exports.
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🔄 What Are Reciprocal Tariffs?
A reciprocal tariff means:
“If you tax our goods at 25%, we’ll tax yours the same or more.”
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🛠 Key Steps in Trump’s Policy:
1. America First Trade Agenda
Focused on reducing trade deficits and boosting U.S. manufacturing.
2. Steel & Aluminum Tariffs (2018)
Imposed 25% on steel, 10% on aluminum imports globally.
Justified under national security (Section 232).
3. China Trade War
Tariffs on $360+ billion of Chinese goods.
Triggered retaliatory tariffs from China.
Aimed to push China on IP theft, tech transfer, and market access.
4. Rewriting Trade Deals
Replaced NAFTA with USMCA.
Pressured EU, Canada, Mexico, and Japan to reduce trade barriers.
5. Push for Tariff Equalization
Criticized allies (like the EU) for unfair tariff differences.
Threatened tariffs on autos, wine, and agricultural goods.
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What are "reciprocal tariffs"? The core idea is to impose tariffs on imported goods that are equivalent to the tariffs or trade barriers that other countries place on U.S. exports. The administration argues this creates a "level playing field."
* Implementation: The new tariffs are being implemented through a series of executive orders. Initially, a baseline tariff of 10% was announced on imports from most trading partners, with higher, country-specific rates for some nations. More recently, the administration issued an executive order modifying and adjusting these rates for many countries.
* Tariff Rates: The new tariff rates vary significantly by country, with some facing rates as high as 41% and others having lower rates. These rates are determined based on factors like a country's trade deficit with the U.S. and its "strategic alignment." The new tariffs are applied in addition to existing duties.
* Negotiations and Exceptions: The policy has prompted a series of trade negotiations. Some countries, such as the European Union and Japan, have reached agreements with the U.S. that resulted in lower, though still significant, tariffs than initially threatened. Other countries that have not negotiated or are considered to have large trade deficits with the U.S. have faced the steepest increases.
* Impact: The new tariffs have been described as a "seismic" shift in global trade. The administration states that the tariffs are intended to protect American industries and jobs and generate revenue for the U.S. government. However, critics and some analysts warn that they could lead to higher prices for consumers, disrupt global supply chains, and potentially trigger a wider trade war.
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#Succinct