NFL Rivals creator Mythical Games is gearing up to launch its next officially licensed sports game, FIFA Rivals—with an assist from Adidas.
Donald Trump has launched a direct attack on Elon Musk, calling him “crazy” and warning that he might cancel Musk’s federal contracts. This marks a dramatic breakdown in their relationship and could significantly impact government dealings with Musk’s companies, including SpaceX and Starlink . Trump’s criticism followed Musk’s disapproval of the president’s proposed tax bill, which Musk claimed was bad for the U.S. economy and full of “disgusting pork.” Trump accused Musk of turning against him only after losing influence in government and losing favorable EV policies. In a post on Truth Social, Trump threatened to slash Musk’s federal funding, saying it would be the easiest way to cut spending. Musk responded on X, suggesting Trump should be impeached, warning his trade policies might cause a recession, and even bringing up the president’s alleged links to Jeffrey Epstein. Musk also hinted at forming a new political party and distancing himself from Republicans. Tesla shares dropped nearly 14% , wiping over $150 billion in value — the largest single-day loss in the company’s history. Musk blamed the tax bill for favoring oil and gas industries while cutting support for clean energy, a core business area for Tesla. Trump’s frustration appears tied to Musk’s growing independence and political power. Despite donating over $250 million to Trump’s re-election, Musk now regrets his support, saying Trump wouldn’t have won without him. “Such ingratitude,” Musk wrote. The fallout has already affected NASA, with Trump pulling the nomination of Jared Isaacman, a Musk ally, to lead the agency. Several people from Musk’s team have also started exiting roles tied to the administration, including those working in Musk’s budget-cutting program “Doge.” The feud could reshape U.S. political and business alliances , with Musk’s influence extending far beyond the current administration. Despite the chaos, crypto markets have so far remained stable , even though both Trump and Musk hold cryptocurrencies and have previously influenced the space.
TRUMP CALLS FOR A FULL POINT RATE CUT – ROCKET FUEL: TRUTH
The Monetary Authority of Singapore (MAS) has introduced stringent licensing requirements that effectively restrict crypto firms from serving only foreign clients, signaling a significant regulatory shift in the region. This
Cardano (ADA) liquidity soar with 70% daily volume boost amid price recovery push
The Monetary Authority of Singapore has effectively banned most crypto firms from serving only foreign clients by requiring a license, which it says it will “generally not issue.”
Dogecoin takes a nosedive, plunging 22% following a high-profile spat between Trump and Musk. This steep decline raises questions about the future of the original meme coin. Could this be the end for Dogecoin, or will other coins step up to the plate? The article explores which cryptocurrencies might be poised for a surge. Dogecoin Price Struggles: Bears Hold the Upper Hand Source: tradingview Dogecoin's price is in a tight spot, fluctuating between about $0.18 and $0.22. Bulls seem weak, as bears lead with a recent 17% drop over the past week. Currently, Dogecoin is below its 100-day average, signaling more seller control. The Relative Strength Index is under 50, hinting at less buying momentum. Immediate resistance lies at around $0.25, and if this is broken, it might climb by roughly 35% to the next hurdle, nearly $0.30. However, if bears push harder, Dogecoin could fall to close support at about $0.16, risking a dip of around 27% to the second support level near $0.11. It's a cautious time for investors. Conclusion The recent 22% drop in Dogecoin following the Trump-Musk dispute has significantly impacted investor confidence, positioning DOGE in a challenging market scenario. Despite current bearish pressures and weakened bullish momentum, Dogecoin still retains potential to rebound if it successfully surpasses the critical resistance at $0.25. However, investors should remain cautious, as further downside toward the $0.16 and potentially $0.11 support levels remains a real possibility. The future of the original meme coin hinges on broader market sentiment and the community's resilience amid turbulent events. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Donald Trump’s recent proposal to terminate federal subsidies for Elon Musk’s companies, including Tesla and SpaceX, has triggered notable market reactions and investor concerns. The announcement has led to a
A wallet project was promoted by Magic Eden and Trump-themed meme coin creators, but it very quickly drew sharp backlash from Trump’s inner circle. Donald Trump Jr. publicly denied any connection and teased an official Trump-backed crypto wallet. The controversy happened amid the increasing political tension over Trump’s crypto involvement. During a House Financial Services Committee hearing, Representative Maxine Waters warned that Trump’s digital asset ventures could undermine investor protections and exploit proposed legislation like the CLARITY Act. At the same time, the president’s recent meme coin fundraiser dinner raised $148 million, which further blurred lines between politics and crypto. Meanwhile, Trump’s feud with Elon Musk caused wider market jitters, and triggered $278 million in outflows from US spot Bitcoin ETFs. The spat also flipped market sentiment from “Greed” to “Fear.” WLFI Issues Cease-and-Desist Over Trump Wallet World Liberty Financial (WLFI), a crypto platform backed by US President Donald Trump and his family, issued a cease-and-desist letter to Fight Fight Fight LLC, the creators of the TRUMP meme coin and operators of Gettrumpmemes.com. The legal action started after the announcement of a new Trump-branded crypto wallet, which WLFI claims was developed without the Trump Organization’s involvement. Magic Eden and the meme coin team recently promoted a waitlist for the wallet, which attracted immediate backlash from Trump’s inner circle. Donald Trump Jr., who serves as WLFI’s “Web3 ambassador,” publicly denied any affiliation with the wallet project and teased the official launch of a Trump-approved wallet in the near future. According to Bloomberg, the cease-and-desist notice is not yet publicly available, but sources familiar with the matter confirmed its existence. Despite the legal warning, the original promotional posts on X from Magic Eden and Gettrumpmemes are still live. However, the associated website, TrumpWallet.com, has gone offline. WLFI raised over $550 million through token sales as of March, and is already under scrutiny for its USD1 stablecoin. The token made headlines in May when an Abu Dhabi-based firm revealed plans to use USD1 to settle a $2 billion investment in Binance . The Trump family holds equity in WLFI and benefits financially through a company linked to the president that collects transaction fees. The political ramifications of Trump’s crypto ventures are intensifying. Some Democratic lawmakers accused the president of using his office to enrich himself through his digital asset businesses. These allegations could complicate efforts to pass key legislation in Congress, including bills that would regulate payment stablecoins and establish a market structure for digital assets. Lawmakers Clash Over Trump and Crypto Rules Lawmakers in the US House Financial Services Committee seem increasingly divided over how to regulate digital assets, and this could be due to the fact that President Donald Trump’s crypto affiliations are casting a shadow over bipartisan efforts. During a June 4 hearing , Representative Maxine Waters voiced her sharp concerns over Trump’s involvement in the crypto industry, and warned that the proposed Digital Asset Market Clarity (CLARITY) Act could be exploited by the president to further his financial interests. Waters pointed to Trump’s recent dinner with top meme coin holders, and warned that the bill could allow him to funnel Americans’ funds into his own digital wallet. The dinner itself attracted $148 million in contributions. By describing the CLARITY Act as rushed and dangerously permissive, Waters criticized its lack of protections for investors and absence of penalties for bad actors. The bill was introduced on May 29 with Republican support and three Democratic co-sponsors. Its main goal is to define clear jurisdiction between the SEC and CFTC, but it also ignited partisan debate over its implications. Waters and other Democrats called for a closer examination of Trump’s crypto ties, particularly those connected to his family-backed platform, World Liberty Financial. On the other hand, Committee Chair French Hill defended the bill’s intent by arguing that the current lack of federal oversight for digital assets is stifling innovation and creating confusion for investors. Still, none of the expert witnesses—including former CFTC Chair Rostin Behnam, former SEC Commissioner Elad Roisman, and Uniswap Labs' legal chief Katherine Minarik—touched on Trump’s involvement in their opening remarks. Former CFTC Chair Timothy Massad, however, directly addressed the issue by saying Trump’s crypto dealings cast a “taint” on the entire industry and pose national security concerns. He questioned whether the president’s actions were aligned with national interests or personal gain. Waters’ bill Waters already introduced a separate bill aiming to bar the president, vice president, and members of Congress from participating in crypto ventures. That legislation came on the same day as Trump’s meme coin dinner, during which the president spoke from a podium bearing the presidential seal—despite claims it was a personal event. Overall, as both the CLARITY Act and the GENIUS Act continue to move through Congress, Democrats are still very hesitant to support any bill that fails to address the growing concerns over Trump’s influence on the digital asset space. Trump-Musk Feud Triggers Bitcoin ETF Outflows Just how much influence Trump and his actions have on the crypto market is becoming more and more clear. Bitcoin exchange-traded funds (ETFs) in the United States experienced a sharp downturn as market sentiment soured after a very public fallout between President Donald Trump and Elon Musk. Bitcoin ETF flow (Source: Farside Investors ) After briefly recovering on June 3 and 4, US spot Bitcoin ETFs suffered outflows totaling $278 million on June 5. This is according to data from Farside Investors . The shift coincided with the Cryptocurrency Fear & Greed Index flipping from “Greed” to “Fear” on June 6, which proves that there is growing investor anxiety over the high-profile feud. The falling sentiment extended beyond the crypto market, with Tesla shares dropping 14% and Trump Media shares falling 8%. Crypto Fear and Greed Index (Source: Alternative ) Bitcoin ETFs were under some pressure after cumulative outflows of $1.2 billion from May 29 to June 2, despite the short-lived recovery earlier in the week. On June 5, no US Bitcoin ETF recorded inflows, with ARK Invest’s ARK 21Shares Bitcoin ETF leading the outflows at $102 million. Globally, Bitcoin exchange-traded products saw $8 million in outflows over the past week. In contrast, Ether ETFs continued to show resilience. On June 5, US spot Ether ETFs brought in $11.3 million in inflows, extending a 14-day streak. Although, this was still a sharp decline from the previous two days, which saw inflows of $56.9 million and $109.4 million, respectively. Ethereum ETF flows (Source: Farside Investors ) Ether ETPs have drawn investor interest thanks to improving Ethereum network fundamentals and strength in ETH futures markets. In fact, BlackRock even purchased $50 million worth of ETH on June 3.
Retail investors may soon be able to buy crypto ETNs, as the country’s top financial regulator weighs investor protections with innovation. UK regulators are taking steps to boost growth in the country’s crypto industry. On Friday, June 6, the UK’s Financial Conduct Authority proposed lifting a ban on crypto exchange-traded notes for retail customers. However, these notes will have to be issued by FCA-approved exchanges. You might also like: UK’s Farage push Trump-like crypto policy to make Britain a ‘crypto powerhouse’ David Geale, executive director of payments and digital finance at the FCA, explained that the agency wants to promote the UK crypto industry while also ensuring investor protections. “This consultation demonstrates our commitment to supporting the growth and competitiveness of the UK’s crypto industry. We want to rebalance our approach to risk, and lifting the ban would allow people to make the choice on whether such a high-risk investment is right for them, given they could lose all their money,” David Geale, FCA. To balance risks, the rules on financial promotion will still apply. This means that institutions will have to provide investors with information about the risks involved with these assets. The FCA also explained that its ban on crypto derivatives for retail investors will remain in place. UK’s FCA moves to clarify rules on crypto The latest lift on the ETN trading ban for retail traders is part of a broader push to balance investor protection with innovation. On May 2, the FCA proposed banning retail investors from buying crypto assets with debt. Due to the volatility of crypto assets, debt-financed buying could expose investors to significant financial risk, the regulator argued. Unlike crypto exchange-traded funds, which are backed by the underlying asset, ETNs are unsecured debt notes tied to a specific index. This means they are higher-risk assets than ETFs, as they also expose traders to counterparty risk related to the issuer’s solvency. Read more: UK rules out Bitcoin reserves: not ‘appropriate for our market’