🚀 Trump media holding $2B of Bitcoin

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Trump Media has built a $2 billion bitcoin treasury, now two-thirds of its liquid assets, redefining itself as a crypto-heavy company and swelling Donald Trump’s paper net worth to over $2.3 billion. Once a crypto skeptic, Trump now champions digital currency as central to U.S. strategy, having signed the GENIUS Act and launched ventures like World Liberty Financial and the meme coin $TRUMP. Ethics watchdogs warn of conflicts as Trump profits from policies he influences. Meanwhile, DJT shares jumped 9% at market open, and the company signals more crypto moves ahead, including the launch of a utility token and deeper integration with Truth Social.

2. Block shares surged 7% Monday after being added to the S&P 500, replacing Hess following its acquisition by Chevron. The move is expected to trigger large-scale buying from passive index funds, with analysts estimating that around 101 million shares could be scooped up. Despite Block’s inclusion, rival fintech Robinhood, up 345% over the past year and nearing a $100 billion market cap, remains excluded from the index, frustrating investors. While Block faces scrutiny over its Cash App performance, recent earnings and cash flow improvements are helping to restore confidence.

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4. Orange juice prices could jump 20–25% due to a looming 50% tariff on Brazilian imports, announced by President Trump in retaliation for Brazil’s treatment of former President Bolsonaro and alleged censorship of U.S. platforms. But Johanna Foods, a major private label supplier, is suing, arguing the tariff lacks legal authority under the International Emergency Economic Powers Act, since no true economic emergency exists. With Brazil supplying most of the U.S.'s “not from concentrate” juice, Johanna warns of layoffs, production cuts, and a $68 million loss. Futures prices have already surged 40% since the threat of tariffs was announced.

   Headlines

   1. OpenAI is planning to open an office in Washington, DC.

   2. Avalara has applied for an IPO as it seeks to return to the public markets.

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