Scott Bessent
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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.
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.
