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$4 trillion crypto market hits milestone on stablecoin bill push

$4 trillion crypto market hits milestone on stablecoin bill push

Time of India18-07-2025
The total market value of cryptoassets surged past $4 trillion for the first time, driven by a rally in altcoins and momentum from a sweeping US legislative push to regulate the sector.
The milestone followed the passage of the first-ever federal legislation for stablecoins, a key accomplishment during what lawmakers have dubbed "
Crypto
Week."
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The bill, backed by Republicans and championed by President Donald Trump, introduces federal or state oversight of dollar-linked
stablecoin
, aiming to legitimise a $265 billion market that Citigroup Inc. analysts project could grow to $3.7 trillion by 2030.
Altcoins - a catch-all term for tokens besides Bitcoin - led the latest leg of the rally, with Ether jumping 22% over the past five days. Bitcoin, the industry's benchmark asset, hit a record $123,205 earlier this week. Uniswap surged as much as 24% on Friday, while Solana gained 6.5% at one point.
Thursday also saw the House pass a broader
crypto market
structure bill, which now awaits Senate consideration.
Live Events
Investors have continued to flood into US-listed crypto ETFs. Bitcoin funds have attracted $5.5 billion in inflows so far in July, while Ether ETFs brought in $2.9 billion.
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Committed to fair, balanced deal, says India after Trump announces 25% tariffs
Committed to fair, balanced deal, says India after Trump announces 25% tariffs

Hindustan Times

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  • Hindustan Times

Committed to fair, balanced deal, says India after Trump announces 25% tariffs

India remains intensely engaged with the US to clinch the comprehensive bilateral trade agreement by autumn 2025 despite President Donald Trump's announcement of 25% tariffs plus penalties starting August 1, people aware of the matter said on Wednesday. Piyush Goyal, India's commerce and industry minister, during a Bloomberg Television interview in London, UK, on Thursday, July 24, 2025. (Bloomberg) In a brief statement, the commerce ministry said it had 'taken note' of Trump's statement and was studying its implications while reaffirming India's commitment to a 'fair, balanced and mutually beneficial' trade deal that protects farmers, entrepreneurs and small businesses. 'The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs,' the ministry said, adding that it 'will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK.' Indian officials and experts pushed back against Trump's characterisation of excessive trade barriers, arguing that his focus on goods trade deficit ignores the broader economic relationship where the US earns tens of billions more annually from services, education, and defence deals, and cited New Delhi's recent free trade agreements with developed economies such as Australia and the UK to demonstrate India's willingness to open up its market with protections for its vulnerable populations . People familiar with the negotiations said New Delhi expects Washington to follow Trump's announcement with a formal letter that would be analysed and responded to appropriately. The Indian negotiating team – which has held five rounds of in-person discussions with its American counterparts -- will in the meantime continue talks for a balanced deal, they added. One of the people aware of the matter pushed back against Trump's characterisation of India as maintaining excessive trade barriers, citing the recently signed free trade agreements with other developed economies including Australia and the United Kingdom where tariffs on most items were slashed. 'Hence, President Trump's generalisation that Indian tariffs are far too high, is not correct,' the person said. 'FTAs are win-win, and not one-sided.' 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'All that 'taarif' between him and 'Howdy Modi' has meant little,' Ramesh said, referring to Modi's 2019 rally with Trump in Houston. 'Mr Modi thought that if he kept quiet on the insults that the US President has hurled on India... India would get special treatment at the hands of President Trump. Clearly that has NOT happened.' Rashtriya Janata Dal MP Manoj Jha said his party was 'not very happy that it has happened under the rule of Prime Minister Modi,' while Communist Party of India MP P Sandosh Kumar described the tariffs as 'another insult to India.' DMK leader Tiruchi Siva demanded the prime minister answer questions about the tariffs in Parliament, saying lawmakers had 'not been taken into confidence.'

Trump's 25% Tariff Bomb On India Explained: How It Impacts Trade, GDP, Oil And Defence Links
Trump's 25% Tariff Bomb On India Explained: How It Impacts Trade, GDP, Oil And Defence Links

India.com

timea minute ago

  • India.com

Trump's 25% Tariff Bomb On India Explained: How It Impacts Trade, GDP, Oil And Defence Links

New Delhi: India has just been hit by a 25% tariff from the United States. Announced by U.S. President Donald Trump, the decision affects billions in exports. The news comes ahead of an important round of trade negotiations between the two countries. A penalty is also on the horizon. The reason? India's defence and energy trade with Russia. This latest action is seen as part of Trump's 'Liberation Day' trade strategy, designed to restructure trade arrangements in favour of the United States. The White House has been focusing on countries with significant trade surpluses and rigid non-tariff barriers, and India now finds itself among those targeted. In a post on Truth Social, Trump conveyed frustration over what he considers to be excessively high tariffs imposed by India and restrictive trade conditions. 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US stock market today: S&P 500 falls, Dow Jones drops, Nasdaq offers relief. Check top performing stocks
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