Economist and author of The Bitcoin Standard, Saifedean Ammous, said Trump’s decision to reverse the higher tariffs was likely a reaction to rising bond yields, suggesting the administration’s hand was forced.“Trump fought the bond market and the bond market won,” Ammous said in an April 23 X post.“The gambit seemed to work for the first day, and the huge crash in the stock market was presented as a small price to pay for fiscal sustainability.“But then the bonds began to crash, and it became clear how disastrous the tariffs were, and how wrong it was to expect that deliberately crashing the stock market would boost the bond market,” he added.
Today in crypto, economist and author of The Bitcoin Standard, Saifedean Ammous, said US President Donald Trump’s decision to reverse higher tariffs was likely a reaction to rising bond yields and exposed weaknesses in the US economy, Strike founder Jack Mallers is set to lead a crypto firm set to compete with Michael Saylor’s Strategy, and Trump is hosting a dinner for top holders of his memecoin.
Source: Saifedean AmmousStrike’s Jack Mallers to head firm seeking superior Bitcoin play to MSTRTwenty One Capital, a new Bitcoin treasury company led by Strike founder Jack Mallers with the support of Tether, SoftBank and Cantor Fitzgerald, is looking to supplant Michael Saylor’s Strategy to become the “superior vehicle for investors seeking capital-efficient Bitcoin exposure.”Wow.@jackmallers absolutely smashed this interview.pic.twitter.com/CNY6n1esvB— The Wolf Of All Streets (@scottmelker) April 23, 2025Twenty One revealed it plans to launch with 42,000 Bitcoin (worth $3.9 billion) with roughly 23,950 BTC coming from Tether, 10,500 BTC from Softbank and 7,000 BTC from Bitfinex, which will be converted into equity at $10 per share, according to an April 23 statement.“Our mission is simple: to become the most successful company in Bitcoin, the most valuable financial opportunity of our time.
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