The End of the Trump Administration's “Blame Game Era”: Yellen Takes Over from Powell
On May 25, Kevin Warsh—personally appointed by U.S. President Donald Trump—was officially sworn in as Chair of the Federal Reserve. With this appointment, the report notes, Trump is now taking full political responsibility for the U.S. economy and inflation’s performance for the first time.
The analysis highlights that Trump has long blamed former Fed Chair Jerome Powell for high interest rates, a sluggish housing market, and economic slowdown. But with Warsh at the helm, the Fed’s policies are widely seen as a direct extension of what’s dubbed the “Trump economy.”
Right now, the U.S. economy faces multiple pressures: the 30-year mortgage rate has risen above 6.5%, PCE inflation stands at 3.5%, and the national average gasoline price exceeds $4.55 per gallon. Markets are worried that amid persistent high inflation, the Fed could be forced to keep raising rates— a move that would further undermine the Republican Party’s midterm election prospects.
Additionally, Warsh advocates scalin
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Iranian Foreign Ministry: China Plays Positive Role in Advancing Ceasefire Negotiation Process
May 25 (Xinhua) — Iranian Foreign Ministry spokesman Bagheri told reporters at a press conference in Tehran, Iran, that China has played a “constructive and positive role” in advancing regional ceasefire and negotiation efforts while discussing the broader regional situation. He added that China and Russia have taken a positive position at relevant United Nations Security Council meetings, and that Iran has recently held consultations with Chinese and Russian diplomats on developments in the situation.
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On the eve of the SpaceX IPO, a $20 billion related-party transaction controversy was revealed, with Musk's friend possibly leveraging the IPO to enter the global billionaire list.
May 25, on the eve of SpaceX’s initial public offering (IPO), a related-party transaction dispute has come to light. Antonio Gracias, a close associate of Elon Musk, holds over 7.3% of SpaceX’s shares through his investment firm Valor Equity — stakes valued between $90 billion and $140 billion based on the company’s target valuation.
SpaceX has also disclosed an approximately $20 billion GPU leasing agreement with Valor, under which it is leasing AI infrastructure hardware from its xAI subsidiary, with SpaceX issuing payment guarantees for the deal. PwC has deemed the transaction more akin to a loan than a conventional lease, and is requiring that the related $9 billion debt be recorded on SpaceX’s balance sheet.
Several corporate governance experts have criticized the deal’s insufficient disclosure of “fair dealing” practices, questioning the risk of related-party benefit transfers. Separately, reports indicate new Nasdaq rules may drive SpaceX to quickly list on the Nasdaq index fo
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Macro data this week may dominate the cryptocurrency market trend, with PCE, initial jobless claims, and housing market data serving as key Fed rate cut watching points.
May 25 – This week, the cryptocurrency market will center on key U.S. macroeconomic data releases—including the PCE inflation report, initial jobless claims, home price indices, and new home sales figures—to assess how much room the Federal Reserve has for potential interest rate cuts. Currently, both market consensus and the CME FedWatch Tool signal a high probability that the Fed will hold interest rates steady in June.
Investors are also closely monitoring developments in the Middle East and associated oil price swings. A sustained rise in energy prices could worsen inflationary pressures and weigh on the performance of risk assets.
Additionally, multiple DAO governance votes and token unlocking events are on deck this week, covering projects such as EIGEN, HUMA, and GRASS.
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Squid responds to about $3.2 million security incident: Core protocol unaffected, exploit targeted third-party Safe module
May 25 — Cross-chain protocol Squid has issued a statement addressing a recent security incident, making clear the breach didn’t originate from Squid’s core protocol or Router contract. The vulnerability instead lied in a third-party Gnosis Safe module named "SquidRouterModule", resulting in the theft of around $3.2 million in assets from the Base and Ethereum blockchains.
Squid stressed that this module was not developed, deployed, or operated by its official team—it was merely an integration of Squid’s functionality into a third-party smart wallet product. Attackers exploited a flaw in the module’s validation mechanism by inputting a specific public string to bypass checks, enabling them to execute arbitrary calls to steal funds. The affected wallet had this module designated as a trusted Safe Module, allowing it to initiate asset transfers without additional signatures.
To note, Squid confirmed that its official Router contract, user funds, authorization systems, and other integra
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An Ethereum Ancient Whale Awakens After Over 10 Years of Dormancy, $620 Initial Investment Now Worth $4.2 Million
Crypto Breaking Update, May 25: Arkham Monitoring reports an ancient Ethereum whale address has made its first move after over 10 years of inactivity. The address, tagged "0x158", bought 2,000 ETH during Ethereum’s initial coin offering (ICO) for a total of around $620, working out to just $0.31 per ETH. No transfers were sent from this wallet in more than a decade — until 10 minutes ago, when it finally moved its assets for the very first time. At current market value, the 2,000 ETH are now worth roughly $4.2 million, representing an astonishing 6,800x return on the original investment.
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