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The market continues to delight us with a few green candles this week, even if the pace isn’t as rapid as before. Let’s explore the hottest news and try to find out why growth has slowed down.
quick weekly news
US economy goes into reverse from Trump’s abrupt policy shifts
Once again, some of the most important news has arrived from America. However, this time it was far from optimistic, as the U.S. economy reportedly slowed down following shifts in Trump’s economic policy.
According to CNN, in Q1 2025, the U.S. real gross domestic product (GDP) declined by 0.3% at an annualized rate. This marked the first decline since Q1 2022, during the COVID-19 crisis. The media also reported that before Donald Trump’s new tariffs were implemented, GDP growth was expected to be +0.8%. This suggests not just a crisis driven by external factors, but a sharp and policy-driven reversal in Q1 2025.
The main factor behind this reversal was consumer spending, which drives about 70% of the U.S. economy. It slowed significantly, falling from 4% to 1.8% – the weakest rate since mid-2023. However, it’s also worth noting some positive data:
- Government spending dropped sharply from 4% to –5.1%.
- Business investment: In response to the sudden onset of trade wars, businesses rapidly increased spending, with investment rising from -3% to 9.8%. However, it appears much of this investment went into purchasing goods ahead of the tariffs, rather than building up U.S.-based manufacturing. This is reflected in the 10% U.S. trade deficit in goods recorded in March.
- Final sales to private domestic purchasers, a key indicator of domestic demand, also showed a slight increase – from 2.9% to 3% this quarter.
SEC delays decisions on altcoin ETFs
According to CryptoSlate, the SEC has postponed its decision on several altcoin ETFs, including $ETH, $SOL, $XRP, $HBAR, and $DOGE. The main reason behind the delay appears to be the overwhelming number of ETF applications submitted to the SEC in the first quarter of 2025, driven by expectations of a rapid policy shift following the nomination of the new chairman, Paul Atkins.
Since then, more than 70 applications have been awaiting review, while Paul Atkins only took office a few weeks ago. Given this, it’s reasonable for the SEC to take additional time to develop a sustainable policy framework for crypto ETFs before moving forward with approvals.
This decision didn’t come as a surprise to Bloomberg’s ETF analyst, who noted that while the final deadlines for decisions are set for autumn 2025, it’s fairly reasonable to expect ETP approvals as early as late June or July. He added:
“They’ve been taking outside meetings with people. Probably coming up with a strategy. After that, likely approvals.”
Crypto token failures soar, with 1 in 4 launched since 2021 dying in Q1: CoinGecko
On April 30, 2025, CoinGecko released a report on cryptocurrency performance, stating that more than 50% of all crypto coins have failed since 2021. Out of nearly 7M tokens, around 3.7M have stopped trading and are considered failed.
According to CoinGecko’s research, the majority of these failures occurred between 2024 and early 2025. The number of dead coins surged more than 5.6x, from 245,000 in 2023 to 1.38M in 2024. Remarkably, in just the first quarter of 2025, the number of failed tokens has already surpassed the total for all of 2024 by over 31%, with more than 1.8 million tokens considered dead. This spike in token failures coincides with the rise of memecoin launchpads such as pump.fun, sunpump, fourmeme, and others.
Even more striking is that 49.7% of all crypto failures occurred in 2025. However, it’s important to note that this massive wave of failures wouldn’t have been possible without the surge in new token listings in 2024. As a result, 2025 saw a cascade of token collapses, especially as market sentiment was shaken by FUD related to Trump’s tariffs.
Finally, it’s worth noting that, under CoinGecko’s methodology, “failed coins” are defined as those listed on GeckoTerminal that are no longer actively traded. However, there are also many tokens still being traded that have experienced massive price declines from their all-time highs and were not included in the failure statistics.
Trump Media considers crypto token and wallet for streaming arm
Trump Media & Technology Group, the company behind Truth Social and backed by U.S. President Donald Trump, is now integrating a crypto token and wallet into its video streaming platform, Truth+, according to CoinTelegraph.
In a letter to shareholders, Trump Media CEO Devin Nunes stated that the token will initially be used to pay for Truth+ subscription costs and will later be applied to other products and services within the broader Truth ecosystem. Additionally, the crypto token and wallet are set to become part of a rewards program that Trump Media is considering across its platforms, including Truth Social, Truth+, and Truth.Fi.
Notably, this isn’t the first time Trump Media has attempted to integrate crypto into its offerings. The company previously signed an agreement with Crypto.com to develop a crypto and stock ETF “with a Made in America focus.” However, the launch of a token backed by the U.S. President has raised concerns about potential conflicts of interest between his crypto ventures and presidential responsibilities. This adds to ongoing criticism of Trump, who has already faced scrutiny for supporting the crypto platform World Liberty Financial.
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top crypto meme of the week
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