FameEX Morning Crypto News Recap | May 5, 2025
2025-05-05 03:29:22Trump Calls for Lower Interest Rates, Supports Powell Staying Through 2026
Trump reaffirmed his call for Fed interest rate cuts, arguing that small businesses don’t need additional relief. He also confirmed he won’t seek to remove Fed Chair Powell before his term ends in 2026.
Trump Rejects Recession Worries, Claims U.S. Is Simply Transitioning
In an interview with NBC, President Trump expressed little concern about a potential recession during his term, though he didn’t dismiss the possibility. He characterized the U.S. economy as being in a “transition period.” Addressing questions about his tariff policies, Trump asserted he would ultimately take full responsibility for the outcomes of his administration’s economic decisions.
April Tariff Revenue Tops $17 Billion in the U.S.
In April, the Trump administration gathered over $17.4 billion from tariffs and consumption taxes, nearly doubling March’s $9.6 billion and marking a record high versus Trump’s first term. Since January 1, revenues surpassed $70 billion. In a recent interview, Trump declared the U.S. is “just getting started” in generating income through tariffs.
Fidelity Sees Bitcoin Surpassing Gold’s Market Leadership
Jurrien Timmer, Fidelity’s Global Macro Director, examined the relationship between Bitcoin and gold using data from FMR Co and Bloomberg. He identified a negative correlation and noted that their Sharpe ratios have alternated in leadership recently.
42% of Young American Men Invest in Crypto as Meme Coin Demand Surges
On May 4, The Washington Post reported that high student debt and housing costs are pushing young Americans toward meme coin investments, with 42% of men and 17% of women aged 18–29 participating in crypto trading or investment.
Mainstream Crypto Market Sees Turn to Bearish Funding Rates
On May 4, Coinglass data showed bearish funding rates across major centralized and decentralized exchanges, reflecting market caution. Funding rates align contract prices with the value of underlying assets.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.