Cryptocurrency Live News & Updates : Polygon Surpasses Ethereum in NFT Sales
Polygon's price has plummeted this year, nearing its lowest point, but it recently outperformed Ethereum in weekly NFT sales, indicating a potential breakout. Polygon has experienced a significant decline in price, dropping over 76% this year, yet it has recently surpassed Ethereum in weekly NFT sales, with a 52% increase to $24 million. This surge is largely attributed to the Courtyard platform. Meanwhile, Ethereum celebrates its 10th anniversary amid rising competition from blockchains like Solana and Aptos, as it focuses on enhancing interoperability and community building. In a different arena, Trump-linked World Liberty Financial is undergoing a governance vote to determine the tradability of its WLFI token, a crucial test of its decentralization commitment. Lastly, NEAR Protocol faced a 5% decline despite the launch of Bitwise's NEAR Staking ETP, which aims to boost institutional interest. As the crypto market navigates these developments, the interplay between price movements, governance decisions, and technological advancements remains pivotal. Show more
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The Hindu
15 minutes ago
- The Hindu
B2 bombers roars over White House; Donald Trump and Melania Trump celebrate U.S. Independence Day
U.S. President Donald Trump signed his flagship tax and spending Bill into law on Friday (July 4,2025), capping a grandiose White House Independence Day ceremony featuring a stealth bomber fly-by. Mr. Trump also played down criticism by Democrats that the unpopular legislation will slash social welfare programs, saying: 'You won't even notice it.' With First Lady Melania Trump at his side, Mr. Trump watched from the White House balcony as two B-2 bombers — the same type that recently struck Iranian nuclear sites — roared overhead, accompanied by F-35 and F-22 fighter jets. The 79-year-old's victory lap came a day after Republicans fell into line and passed the sprawling mega-Bill, allowing him to sign it as he had hoped on the Fourth of July holiday. The Bill honours many of Mr. Trump's campaign promises: extending tax cuts from his first term, boosting military spending and providing massive new funding for Mr. Trump's migrant deportation drive. 'Never been anything like it' The legislation's signing caps two weeks of significant wins for Mr. Trump that have seen him tighten his grip on power and his party alike. The successes include the recent Iran-Israel ceasefire that was sealed after what he called the 'flawless' U.S. air strikes on Iran. Pilots who carried out the bombing on Iran were among those invited to the White House event, which included a picnic for military families on the South Lawn. 'The last two weeks, there has never been anything like it, as far as winning,' said Mr. Trump. Mr. Trump had however forced through the tax Bill despite deep misgivings in the Republican Party that it would balloon the national debt. The legislation is expected to pile an extra $3.4 trillion over a decade onto the U.S. deficit. It squeezed past a final vote in the House of Representatives 218-214 after Republican Speaker Mike Johnson worked through the night to corral the final group of dissenters. Mr. Trump thanked Johnson at the White House event, saying: 'What a job.' 'Horrible day' Mr. Trump's billionaire former ally Elon Musk was among the most vocal critics, and he has pledged to set up a new political party to oppose Republicans who backed the Bill. Democrats and many voters have meanwhile expressed concerns that the 'big beautiful Bill' will gut health and welfare support. The Bill will force through the largest cuts to the Medicaid health insurance program for low-income Americans since its 1960s launch, while also shrinking federal food assistance programs. Up to 17 million people could lose their insurance coverage under the Bill, according to some estimates. Scores of rural hospitals are expected to close as a result. But Mr. Trump played down the concerns. 'They've developed a standard line, and we can't let them get away with it. 'Oh, it's dangerous. Oh, everybody's going to die.' It's actually just the opposite,' said Mr. Trump. Democrats hope public opposition to the Bill will help them flip the House in the 2026 midterm election, pointing to data showing that it represents a huge redistribution of wealth from the poorest Americans to the richest. People attending the Fourth of July parade in Washington on Saturday had mixed feelings. 'Yesterday was a horrible day, today is the best part of America,' said Elisabeth Hubir, 70.
Time of India
24 minutes ago
- Time of India
Trump signs 'take it or leave it' tariff letters for 12 countries, going out Monday
Tariff deadline nears amid faltering trade talks Live Events Deals with UK and Vietnam; India, EU talks stall (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel US President Donald Trump on Friday said he has signed a set of letters outlining proposed tariff levels on exports from 12 countries, with the missives set to be sent out on Monday. The offers, he said, would be non-negotiable — a "take it or leave it" proposition to U.S. trading to reporters aboard Air Force One en route to New Jersey, Trump declined to identify the countries receiving the letters, saying their names would be revealed on Monday."I signed some letters and they'll go out on Monday, probably twelve," he told reporters. "Different amounts of money, different amounts of tariffs."The plan marks a shift from earlier this week, when Trump had indicated that the first batch of letters would be sent on Friday — a national holiday — though the timing has now been April, Trump unveiled a base tariff of 10% on most goods entering the U.S., with the possibility of higher rates — up to 50% — for certain countries. Those elevated tariffs were put on hold for 90 days to allow time for negotiations, but that suspension is set to expire on July on Friday suggested the tariffs could go even higher, potentially reaching 70% for some countries, with most new rates expected to take effect from August White House initially aimed to negotiate customized tariff deals with several nations, but frustrations over stalled talks with key players like Japan and the European Union appear to have prompted a change in approach."The letters are better ... much easier to send a letter," Trump said, indicating a preference for direct, unilateral communication over protracted negotiation far, Washington has concluded agreements with just two countries. The United Kingdom secured a deal in May to maintain the 10% base rate and obtained preferential treatment in sectors like automotive and aircraft engines. Vietnam also reached a deal, agreeing to a reduced tariff of 20%, down from a proposed 46%, and allowing duty-free entry for many U.S. with India have not yielded results, and EU diplomats said Friday that talks with the Trump administration had failed to break the deadlock. European negotiators are now considering maintaining current trade terms in hopes of avoiding further tariff Trump's earlier prediction that broader trade deals might be sealed before the July 9 deadline, there was no indication on Friday of such agreements being finalized.
Time of India
30 minutes ago
- Time of India
Dollar slips versus major currencies as US tariff deadline looms
The dollar slipped against other major currencies on Friday after President Donald Trump got his signature tax cut bill over the final hurdle and pressure mounted on countries to secure trade deals with the United States. The U.S. currency had rallied on Thursday after stronger than expected U.S. jobs data pushed out the timing for potential rate cuts by the Federal Reserve . But the dollar index, which tracks the currency against major peers, is headed for a second-straight weekly decline. The Republican-controlled House of Representatives narrowly passed Trump's "One, Big, Beautiful Bill" of spending and tax cuts that is estimated to add $3.4 trillion to the country's $36.2 trillion debt. Trump is expected to sign the bill into law on Friday. With the U.S. closed for Independence Day, attention turns to Trump's July 9 deadline when sweeping tariffs take effect on countries like Japan that have not yet secured trade agreements. "The appetite for the dollar is waning because, one, the U.S. debt worries are rising and appetite for U.S. debt is at risk," said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank. Live Events "And also because of the fact that the tariff situation and trade disruptions are going to have a negative impact on growth for the U.S. and the Fed will not necessarily be able to support the economy when inflation risks are rising." The dollar index had its worst first half since 1973 as Trump's chaotic roll-out of sweeping tariffs heightened concerns about the U.S. economy and the safety of Treasuries. The U.S. currency has fallen more than 6% since April 2, which was when the U.S. announced tariffs on the world, and had hit the lowest in more than three years against the euro and British pound earlier in the week. The dollar index edged 0.1% lower to 96.92, trimming its 0.4% advance on Thursday. The euro added 0.2% to $1.178, poised for a 0.5% weekly gain. The yen climbed 0.4% to 144.32 versus the dollar, while the Swiss franc firmed 0.2% to fetch 0.793 per dollar. TRADE CONCERNS Trump said many countries will get letters on Friday specifying what tariff rates they will face, marking a shift from earlier pledges to do individual deals with trading partners. European Commission President Ursula von der Leyen said the EU was aiming for a trade agreement "in principle" with the U.S. before the deadline. Japan, which has been a focus of Trump's ire of late, is reportedly sending its chief trade negotiator to the U.S. again as early as this weekend. Indonesia offered to cut duties on key imports from the United States to "near zero" and to buy $500 million worth of U.S. wheat. Elsewhere, China said it would implement duties of up to 34.9% on brandy originating in the European Union for a period of five years starting from July 5. In some relief for investors worried about the health of the U.S. economy, the employment report on Thursday showed that non-farm payrolls increased by 147,000 jobs in June, well ahead of economists' forecast in a Reuters poll for a rise of 110,000. "The U.S. labour market is gradually slowing down, but the fact that it hasn't experienced a sudden change is reassuring," said SMBC chief currency strategist Hirofumi Suzuki. "I personally predict that the tariff negotiations will not be very favourable, leading to continued dollar weakness and yen strength." Market expectations that the Fed will leave rates unchanged at its July meeting are now at 95.3% probability, up from 76.2% on July 2, according to the CME's Fedwatch tool. Economists continue to expect the Fed will not start cutting rates again until September or even later.
