Trump's tarifs are shaking the world

06/2025

Welcome to Weekly Comet, your go-to source for updates on cryptocurrency, meme coins, NFTs and much more.

Over the past three days, the crypto market has been significantly impacted by President Donald Trump's announcement of tariffs on goods from China, Canada, and Mexico, leading to a sharp decline in cryptocurrency prices. Bitcoin fell to a three-week low, dipping below $95,000, while Ethereum experienced one of its largest single-day drops, losing nearly 25% in value since Friday. The total market capitalization shrunk by about 11%, with over $2 billion in crypto liquidations recorded in a single day, surpassing previous records from the Covid crash and the FTX collapse. This sell-off has been attributed to fears of rising inflation and a potential global trade war, causing investors to move away from riskier assets like cryptocurrencies. Additionally, the market has seen a surge in trading volume.

In the past week, the US announced tariffs have sent shockwaves through the global economy, triggering political and economic turbulence. The impact was particularly evident in the financial markets, with global stocks experiencing a downturn—most notably in Asia, where markets reacted negatively as the region entered the Lunar New Year holiday.

Meanwhile, Europe has been shaken by a political shift as far-right parties made significant gains in recent elections, a development that could push the EU toward stricter policies on trade and climate action.

In Latin America, Mexico’s deployment of a large National Guard contingent at the US border highlights ongoing efforts to combat drug trafficking, adding further complexity to the region’s geopolitical landscape.

Together, these developments have heightened uncertainty worldwide, forcing investors and policymakers to reassess their strategies in response to the changing landscape.

TRUMP Token's Volatility: Launched shortly before President Donald Trump's inauguration on January 20, the TRUMP memecoin experienced a rapid ascent, reaching a market capitalization of nearly $14 billion within 48 hours. However, it has since plummeted by approximately 75%, highlighting the inherent volatility of meme-based cryptocurrencies.

Legal Scrutiny of Pump.fun: The platform Pump.fun, known for facilitating the creation of memecoins, is facing a lawsuit alleging it generated nearly $500 million in fees by assisting users in launching over 200 memecoins, some of which purportedly infringed on intellectual property rights.

AI Agents:

Sentient's Record-Breaking NFT Mint: Sentient successfully completed a monumental NFT minting event, with over 650,000 participants acquiring "Fingerprints." These NFTs grant fractional ownership of Dobby, Sentient's decentralized, open-source AI model, emphasizing community governance in AI development.

NFTs:

Reservoir's $14 Million Funding Round: Reservoir, an NFT infrastructure provider supporting platforms like Coinbase and MetaMask, secured $14 million in a Series A funding round. The investment aims to enhance its infrastructure, enabling broader integration of NFT trading across various marketplaces.

MegaETH's Soulbound NFT Initiative: Diverging from the prevalent airdrop farming trend, Ethereum layer-2 project MegaETH introduced "The Fluffle," a collection of 10,000 soulbound NFTs representing a 5% stake in the network. These non-transferable tokens are priced at 1 Ether each, potentially raising $28 million and offering holders ownership stakes in the platform.

Galaxis is taking serious measures to strengthen tokenomics.

- 250 million team tokens will be burned, and there will be no team token distributions until Q3 2025.
- 50% of the 5% revenue fee will go toward GALAXIS buybacks.
- The path forward is a deflationary model backed by real product demand.