Crypto’s rocky year

Tech billionaires Michael and Susan Dell have pledged a historic $6.25 billion to establish 'Trump Accounts,' tax-deferred investment accounts aimed at benefiting approximately 25 million American children under the age of 10. This initiative has sparked debate regarding the motivations behind such large donations, particularly in relation to political influence and access to power.

Elon Musk's social media platform, X, has been fined €120 million by the European Commission for breaching new EU digital laws, including issues related to deceptive verification badges and advertising transparency. This ruling marks a significant enforcement action under the EU's updated regulatory framework.

Tesla has introduced a lower-priced version of its Model 3 in Europe, aiming to boost sales following a backlash against CEO Elon Musk's association with Donald Trump and a decline in electric vehicle demand.

Pimco, the Pacific Investment Management Company, chose to maintain its investments in U.S. Treasuries despite calls to 'Sell America' following President Donald Trump's imposition of tariffs on imports. This decision proved advantageous as the firm expanded its holdings, leading to significant gains in a volatile market.

A recent poll indicates that a growing number of Americans, including many of President Donald Trump's supporters, attribute rising living costs to his administration, marking a significant shift in public sentiment regarding economic management.

A significant player in the home improvement sector, a rival to Home Depot and Lowe's, has filed for Chapter 11 bankruptcy, reflecting the ongoing challenges faced by retailers in this market. The filing highlights the impact of rising costs, particularly due to tariffs imposed during the Trump administration, which have increased builder expenses significantly.

Two fossil-fuel billionaires, Robert Pender and Michael Sabel, purchased millions of shares in Venture Global shortly after meeting with senior Trump administration officials, who subsequently issued a crucial regulatory permit that benefited the company’s expansion in Europe. The timing of these transactions has raised ethical concerns regarding potential conflicts of interest.

Steve Witkoff, Donald Trump's special envoy, is set to meet with Ukrainian negotiators following unproductive discussions with Russian President Vladimir Putin. This meeting aims to brief Kyiv's leadership on the outcomes of the Kremlin talks and explore further diplomatic avenues regarding the ongoing conflict in Ukraine.