U.S. President Donald Trump said he plans to announce tariffs on imported semiconductors and pharmaceuticals, saying the rate for medicines could reach 200% but he would give drugmakers about one year “to get their act together.”
Venture capital investment in crypto rebounded in the second quarter of 2025, with companies raising $10.03 billion over the three-month period ending June. It was the strongest quarter since Q1 2022, at $16.64 billion.
The dollar rose sharply against other major currencies, after U.S. President Donald Trump announced new tariffs set to go into effect August 1 for a spate of countries including Japan and South Korea.
Oil prices rose as signs of strong demand more than offset the impact of a higher-than-expected OPEC+ output hike for August and fresh concerns about the potential impact of U.S. tariffs.
Traders are set to make about $1.4 billion in paper profits from their short positions in Tesla shares after CEO Elon Musk’s plans to launch a new U.S. political party heightened concerns about his commitment to the company’s future.
Crypto firm Ripple is applying for a national bank charter in the United States, its CEO Brad Garlinghouse wrote, following a similar move by stablecoin giant Circle. The move reflects a broader push by crypto firms for regulatory clarity and deeper integration with the traditional financial system.
