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Circle is set to file for an IPO in late April, partnering with JPMorgan and Citi, aiming for a valuation between $4 billion and $5 billion. This move follows a previous attempt that was abandoned in 2022 due to market conditions and regulatory scrutiny. The anticipated IPO could be the largest in the crypto sector since Coinbase's debut in 2021.
Goldman Sachs has raised the probability of a US recession to 35% due to President Trump's tariffs, up from 20%. The bank anticipates that these tariffs will increase average rates on trading partners to 15%, leading to higher consumer prices and prompting the Federal Reserve to cut interest rates three times this year. Economic growth is projected to slow to 1.5% annually, reflecting the negative impact of the tariffs.
Elon Musk has clarified that Dogecoin is not associated with the newly established US Department of Government Efficiency (D.O.G.E.), stating that the similarity in names is purely coincidental. He emphasized that there are no plans for the government to utilize Dogecoin, despite speculation that arose following the agency's launch and a brief appearance of the Dogecoin logo on the D.O.G.E. website. Following Musk's comments, Dogecoin experienced a slight decline in value, reflecting broader trends in the crypto market.
Elon Musk has labeled Minnesota Governor Tim Walz a "huge jerk" after Walz mocked Tesla's plummeting stock price during a town hall. This exchange highlights the increasing polarization in U.S. politics, as public figures engage in unfiltered disputes that resonate with their respective bases, further deepening partisan divides. Political analysts suggest such confrontations are likely to persist, reflecting a trend of incivility in political discourse.
Elon Musk has acknowledged that his role in the Trump Administration's Department of Government Efficiency (DOGE) is negatively impacting Tesla's stock price, which has dropped 48% since December. Protests against his government activities have emerged, coinciding with a 45% decline in Tesla sales in Europe and record trade-ins of older models. Analysts suggest that Musk needs to balance his commitments to both Tesla and DOGE to restore investor confidence.
Elon Musk has expressed frustration over recent Tesla protests, claiming they are fueled by paid demonstrators, allegedly backed by his former associate Reid Hoffman. Despite his accusations, no evidence supports this claim, while Musk himself incentivized attendance at a rally for a Republican candidate. The protests, which began as a grassroots movement, have gained momentum, with activists arguing that Musk's actions contribute to an authoritarian regime in the U.S.
Circle is set to publicly file for its long-awaited IPO in late April, marking its second attempt after a failed SPAC merger in 2022. The offering, which could be the largest crypto IPO since Coinbase's direct listing, comes amid a recovering market for public listings and evolving stablecoin legislation in Congress. Circle aims for a valuation between $4 billion and $5 billion, despite facing challenges, including a significant drop in USDC's market cap and reliance on interest income for revenue.
Goldman Sachs has raised the likelihood of a U.S. recession to 35% over the next year, citing increased tariffs and declining consumer sentiment. The bank predicts inflation will rise to 3.5% and unemployment to 3.5%, while projecting weak economic growth of just 0.2% for Q1 and 1% for the year, raising concerns of stagflation. Additionally, Goldman Sachs anticipates the Federal Reserve will cut interest rates three times in 2025 to stimulate growth, despite the risk of further inflation.
Global stocks plummeted as investors braced for President Trump's upcoming tariffs, with the ASX losing $42 billion and Japan's Nikkei index dropping 4.05%. Goldman Sachs raised US recession odds to 35%, predicting more Federal Reserve rate cuts as tariffs threaten economic stability. Safe-haven assets like US treasuries and gold surged amid the turmoil.
At a rally in Wisconsin, Elon Musk acknowledged that the distribution of DOGE stimulus checks to taxpayers may not materialize, as it would require approval from Congress or President Donald Trump. This admission raises questions about the future of such financial initiatives.
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