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Bitcoin Tags $70,000 for the First Time Since June 2 — The Three Forces Behind the Break
Bitcoin briefly surpassed $70,000 for the first time since June 2, driven by political developments and a Treasury Department bond buyback operation. President Donald Trump's support for the Digital Asset Market Clarity Act and a scheduled procedural vote in September are seen as positive catalysts, while increased liquidity from Treasury operations also contributed. However, concerns about potential interest rate hikes from the Federal Reserve and ongoing disagreements over crypto legislation could impact future price movements.
Treasury widens Iran crypto crackdown with sanctions on two more exchanges
The U.S. Treasury has expanded its sanctions against Iran's cryptocurrency activities, designating Shelbit Exchange and Aban Tether for allegedly facilitating illicit financial transactions. These entities are accused of helping Iran move funds beyond conventional banking systems, with Shelbit linked to over $2 million in transactions involving the Islamic Revolutionary Guard Corps. The Treasury aims to dismantle these networks, highlighting that while blockchain offers an alternative for sanctioned states, it also leaves a traceable record.
Nintendo of America sues US government over tariffs
Nintendo of America has filed a lawsuit against the US government seeking refunds for tariffs imposed last year. The company manufactures its hardware in Vietnam and China and argues the tariffs were unlawful. This action follows a Supreme Court decision that struck down global tariffs, leading to new ones being imposed.
Nintendo sues Trump administration
Nintendo of America is suing the Trump administration and several US government agencies in the US Court of International Trade, seeking refunds for tariffs that the Supreme Court later deemed unconstitutional. The company claims these tariffs, amounting to over $200 billion collectively, negatively impacted its business, including causing delays in Nintendo Switch 2 pre-orders and increasing accessory costs.
Nintendo's Lawsuit Against The U.S. Government Is Automatically Paused
Nintendo of America's lawsuit against the U.S. government regarding tariffs implemented in 2025 has been automatically paused pending the resolution of a related tariff case before the Supreme Court. The company claims these tariffs, enacted under the International Emergency Economic Powers Act, have caused significant financial harm and led to price increases and pre-order delays for its products.
Nintendo Is Suing The U.S. Government Over Trump's Tariffs
Nintendo of America is suing the U.S. government to recover over $200 billion in tariffs imposed in 2025. The company argues these tariffs, enacted under the International Emergency Economic Powers Act, were unlawful and caused significant harm, including delaying the Nintendo Switch 2 pre-orders and increasing the price of existing Nintendo Switch models and accessories.
Nintendo is suing the US government over Trump's tariffs
Nintendo of America is suing the US government, including the Department of Treasury, Department of Homeland Security, and US Customs & Border Protection, over tariff policies. The company claims it has been harmed by unauthorized executive orders and is seeking a refund for fees paid to import products. This action follows a Supreme Court ruling that found the Trump administration's global tariffs illegal.