Welcome, dear reader, to the morning briefing of US Crypto News—your indispensable guide to the swirling tempest of cryptocurrency developments that await you today.
Pour yourself a steaming cup of coffee, for we are about to embark on a journey through the latest escapades of US President Donald Trump and his tariff policies, which have recently been deemed unconstitutional by a federal court. What delightful chaos does this spell for Bitcoin (BTC) and the crypto realm? ☕️
Crypto News of the Day: Federal Court Strikes Down Trump’s “Liberation Day” Tariffs
In a dramatic twist worthy of a theatrical performance, a federal court has delivered a resounding slap to President Trump’s ambitious trade agenda, declaring his much-ballyhooed “Liberation Day” tariffs unconstitutional. The audacity! 🎭
The US District Court for the District of Columbia, siding with a motley crew of businesses, trade groups, and international allies, argued that these tariffs trampled upon the sacred separation of powers enshrined in the Constitution. Who knew judges could be so picky? 🤷♂️
Earlier this year, Trump had heralded these tariffs as the cornerstone of his economic strategy, targeting imports from China, Mexico, and Canada with levies on everything from automobiles to agricultural products. A noble quest to “free America from foreign economic dependence,” he proclaimed. Yet, the court found his bypassing of Congress to be a bridge too far. 🚧
BREAKING: Federal Trade Court BLOCKS Trump’s “Liberation Day” Tariffs!
Unelected judges in Manhattan just obliterated our America First trade plan—10% tariffs on imports, 30% on China, 25% on Mexico/Canada goods.
They claim Trump overstepped, siding with globalists & 13 Democrats…
— Publius (@OcrazioCornPop) May 29, 2025
Instead, the ruling emphasized that the Constitution grants Congress—not the president—the primary authority to regulate international trade under the Commerce Clause. A shocking revelation, indeed! 📜
“The President’s assertion of tariff-making authority in the instant case, unbounded as it is by any limitation in duration or scope, exceeds any tariff authority delegated to the President under IEEPA,” the judges determined, with a flourish.
And so, the future of Trump’s trade policy hangs in the balance, with White House Deputy Chief of Staff for Policy and Homeland Security Advisor Stephen Miller decrying the federal trade court ruling as a judicial coup. Oh, the drama! 🎭
“The judicial coup is out of control,” Miller lamented in a post, as if the world were ending.
Meanwhile, the White House, which has labeled the ruling “judicial overreach,” has vowed to appeal. Legal analysts predict this case will escalate to the Supreme Court, with implications that could shake the very foundations of executive power. ⚖️
With the tariffs now on hold, global markets are reacting like a cat on a hot tin roof. Futures have rallied, and the 10-year Treasury yield has spiked above 4.5% as investors reassess their life choices. 📈
In a twist of fate, experts suggest that Bitcoin could soar to a staggering $500,000, as hinted by a recent US Crypto News publication. Who needs reality when you have speculation? 💰
Court Rejects Trump’s $10 Billion Tariffs: Crypto Volatility Looms
According to analyst Kyledoops, the blocked tariffs could lead to a staggering $10 billion in repayments, including a hefty $3.5 billion owed to China alone. What a tangled web we weave! 🕸️
A federal court has just shut down Trump’s “Liberation Day” tariffs, calling them unconstitutional.
That’s $10B in tariffs that might need to be paid back – including $3.5B to China.
The 10Y yield spiked above 4.50% right after.
Trump’s already planning to appeal and could try…— Kyledoops (@kyledoops) May 29, 2025
Political reactions have been as polarized as a divided family at Thanksgiving dinner. Conservative commentator Pamela Geller has labeled the ruling “judicial tyranny,” claiming the courts only intervene when Republican presidents assert authority. How quaint! 🍗
Meanwhile, the liberal outlet Truth Matters has hailed the decision as a critical test of constitutional checks and balances. A battle of ideologies unfolds! ⚔️
“I think we have reached what is an absolute pivotal moment in Trump’s attempt to run an international criminal extortion gang from the Oval Office,” the outlet posted on X, with a flair for the dramatic.
As trade policy becomes ensnared in legal battles, the so-called trade war has shifted from the global stage to the courtroom, leaving uncertainty for markets, allies, and America’s economic direction. What a spectacle! 🎪
Markets are reacting positively, with crypto equities or stocks posting notable gains pre-market. The show must go on! 🎉
Chart of the Day
Byte-Sized Alpha
Crypto Equities Pre-Market Overview
| Company | At the Close of May 28 | Pre-Market Overview |
| Strategy (MSTR) | $364.25 | $372.40 (+2.24%) |
| Coinbase Global (COIN) | $254.29 | $261.00 (+2.64%) |
| Galaxy Digital Holdings (GLXY.TO) | $28.00 | $27.45 (-1.97%) |
| MARA Holdings (MARA) | $14.86 | $15.45 (+3.97%) |
| Riot Platforms (RIOT) | $8.38 | $8.58 (+2.39%) |
| Core Scientific (CORZ) | $10.78 | $11.10 (+2.97%) |
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2025-05-29 16:48