Trump Memecoin Dinner Sparks $2.4B Trading Surge

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Good Morning.

Trump’s memecoin dinner moved $2.4B in a day, showing how far speculation can go. At the same time, Jeff Park warns that markets are ignoring deeper threats from US-China trade tensions and rising inflation. The gap between price drivers and real fundamentals is getting harder to ignore.

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In Today's Email:

• What Matters: Trump Memecoin Dinner Sparks $2.4B Trading Surge 📈 

• Case Study: Market Mispricing Amid US-China Tariff Standoff 🔎 

• Governance & Features: 1inch Goes Live on Solana 🎠 

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WHAT MATTERS

Trump Memecoin Dinner Sparks $2.4B Trading Surge

State of play: The announcement of a VIP dinner and presidential meet-and-greet for top holders of President Trump's official memecoin (TRUMP) triggered a massive $2.4B spike in on-chain transactions.

• The report said TRUMP's price jumped 60% on the day, rising from $9 to $14.50.

• Trading volume reached its highest since mid-February, marking the busiest day for the token this month.

• Activity is expected to rise again ahead of the competition deadline.

Why it matters: The event has drawn controversy over the ethics of offering presidential access tied to crypto holdings.

Our take: Trump’s VIP dinner stunt shows how memecoins can spark huge trading volumes when paired with real-world perks. Though controversial, it clearly demonstrates the growing intersection between crypto and politics.

For builders and investors: Builders should consider how adding real-life incentives can boost token activity and community engagement.

CASE STUDY

Market Mispricing Amid US-China Tariff Standoff

Jeff Park, the Head of Alpha Strategies Bitwise, argues that markets underestimate economic risks from ongoing US-China tariff tensions. He notes that China's authoritarian model allows greater endurance in prolonged conflicts.

• Park points to real-world evidence, such as growing inflationary pressures exemplified by shortages and price hikes in critical supplies.

• These pressures indicate that prolonged tariffs are already disrupting supply chains and raising costs for US businesses and consumers.

• He notes the market’s narrow focus on Fed rate cuts ignores deeper risks to the credibility of US dollar and debt markets.

Park warns that prolonged trade uncertainty could permanently damage global trust in the dollar, leading to higher global capital costs and severe financial instability.

• The longer tariff uncertainty continues, he argues, the higher the risk of a significant economic fallout.

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INSIGHTS

Loopscale Hit by $5.8M Oracle Exploit

Loopscale Labs suffered a $5.8M exploit just two weeks after launch due to an oracle manipulation that inflated the value of collateral tied to RateX Principal Tokens.

• The attacker withdrew USDC and SOL from the platform’s vaults by exploiting flawed pricing logic, not RateX itself.

• Despite the breach, Loopscale’s response was swift: halting operations, initiating user protections, and opening negotiations with the exploiter.

• The exploiter has agreed to a potential partial return of funds in exchange for a bounty.

• Recovery efforts are ongoing, with early signs pointing to some user compensation and a formal roadmap to follow.

FEATURES & GOVERNANCE UPDATE

1inch Goes Live on Solana

1inch, the second-largest DEX aggregator by volume, has officially launched on Solana, bringing MEV-protected swaps, the Fusion protocol, and six developer APIs to the high-performance blockchain.

• This integration enables users to trade over 1M Solana-based tokens through a Dutch auction system.

• The system allows professional market makers to compete for order execution, helping minimize slippage and improve pricing.

• The move comes as Solana leads the DeFi space in Q1 2025 with the highest DEX volumes, transaction count, and active addresses.

• 1inch aims to capitalize on this momentum by launching cross-chain swaps that will connect Solana to 10 other blockchains in the coming months.

• According to co-founder Sergej Kunz, this marks a step toward unifying fragmented DeFi liquidity and enhancing the multi-chain trading experience.

Other notable feature updates:

• Jupiter has launched Ultra v2.

• Stride has launched Stride Swap.

• Base has entered Stage 1 Decentralization.

• Balancer has introduced the MEV-Cap Hook.

• Supra has launched its SupraEVM Testnet Alpha.

• Morpho Labs has open-sourced a liquidation bot for Morpho.

QUICK BITES

• Trump memecoin dinner sparks $2.4B trading surge.

• SEC ends investigation into PayPal’s PYUSD stablecoin.

• Robinhood expected to show decrease in crypto revenue.

• South Korea's ruling party pledges spot crypto ETF trading.

• UK Treasury eager to work with crypto friendly US government.

• Trump Media 'exploring' utility token for Truth Social ecosystem.

• 1inch launches on Solana, plans cross-chain swaps to boost liquidity.

• BlackRock files to offer tokenized shares of its $150B Treasury Trust fund.

• Arizona Legislature passes Bitcoin reserve bill, sends it to governor’s desk.

• US spot Bitcoin ETFs see $591M in net inflows as BTC holds above $94,000.

• Libre & TON Foundation launch $500M fund to tokenize TG's corporate debt.

NOTEWORTHY READS & MEME

• Galaxy’s read on recent Bitcoin price action.

• Ray Dalio’s read on “It's Too Late: The Changes Are Coming.“

• Coinmetrics’s read on dYdX v4 market data and exchange infrastructure.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.