FameEX Morning Crypto News Recap | May 5, 2025
2025-05-05 03:28:01Trump Urges Fed to Cut Rates, Affirms Support for Powell Through 2026
Trump urged the Fed to cut interest rates, stating small businesses need no extra aid, and confirmed he won’t remove Chair Powell before his term expires in 2026.
Trump Says U.S. Economy Isn’t in Recession, But Undergoing a Transition
In an NBC interview, President Trump said he’s not concerned about a recession during his term but didn’t rule it out. He described the U.S. economy as being in a “transition period.” When questioned about the consequences of his tariff policies, Trump stated he would ultimately take responsibility for all outcomes related to his administration’s actions.
U.S. Collects Over $17 Billion in Tariff Revenue in April
In April, the Trump administration collected over $17.4 billion in tariffs and consumption taxes—nearly double March’s $9.6 billion and a record high compared to Trump’s first term. Since January 1, tariff revenues have exceeded $70 billion. Trump emphasized that the U.S. is “just getting started” with tariff-driven income during a recent interview.
Fidelity Predicts Bitcoin May Soon Overtake Gold in Market Dominance
Fidelity’s Global Macro Director Jurrien Timmer analyzed Bitcoin and gold’s relationship using FMR Co and Bloomberg data. He observed a negative correlation between the two assets, noting that their Sharpe ratios have recently taken turns leading, reflecting alternating periods of stronger risk-adjusted returns for each asset in shifting market conditions.
Meme Coins in High Demand as 42% of Young American Men Enter Crypto Market
The Washington Post reported on May 4 that rising student debt and housing costs are driving young Americans toward meme coin investments. Among those aged 18–29, 42% of men and 17% of women have engaged in cryptocurrency trading or investment.
Funding Rates in Mainstream Crypto Markets Shift Bearish
On May 4, Coinglass data revealed that funding rates across major centralized and decentralized exchanges turned bearish. Funding rates help align contract prices with underlying asset values.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.