Trump's tax bill passed the House, not all allies support
- President Trump’s "big, beautiful bill" passed the House of Representatives with a vote of 218-214 and is headed to his desk for signing. The bill includes significant tax cuts.
- Following the bill’s passage, Bitcoin was trading at $109,886.34, Ethereum at $2,592.64, XRP at $2.28, and Solana at $151.77, with most cryptocurrencies in the green.
- Elon Musk criticized the bill for raising the debt ceiling by $5 trillion, with Trump attributing Musk’s opposition to the administration’s electric vehicle mandate stance.
- Brian Armstrong, CEO of Coinbase, warned that ignoring the national debt could lead to Bitcoin becoming the world’s reserve currency, emphasizing the importance of financial stability.
- Over 90% of traders on Polymarket bet on the national debt exceeding $38 trillion by 2025, while the total crypto market cap was $3.39 trillion at the time of reporting.
Read more at Yahoo Finance: Trump’s landmark bill clears House, but not all his billionaire allies are on board