According to @WhiteHouse, President Trump's recent social media posts suggesting massive economic growth will offset deficits from his proposed $3.8 trillion tax cut package are boosting the case for Bitcoin (BTC) as an inflation hedge. The source material highlights analyst Will Clemente's view that such loose fiscal policy makes U.S. Treasuries less attractive while strengthening the appeal of hard assets like Bitcoin and gold to protect against potential currency debasement. Following the news, BTC has been volatile, with the BTC/USDT pair trading around $109,400. In a separate but related development, the U.S. Senate passed the major budget bill without including a crypto-friendly tax provision championed by Senator Cynthia Lummis, which would have waived capital gains taxes on small crypto transactions. The bill now heads to the House for further debate.

According to @FoxNews, a significant crypto tax amendment proposed by Senator Cynthia Lummis was not included in the major budget bill that recently passed the U.S. Senate. The proposed changes would have been highly beneficial for crypto traders and investors by waiving capital gains taxes on transactions under $300 and altering the tax treatment for staking and mining rewards. Under the proposal, rewards from staking, mining, airdrops, and forks would only be taxed upon sale, rather than upon both acquisition and sale as under current law. The failure of this amendment to be included means that the current, more burdensome tax regulations remain in place for now, a key consideration for traders calculating profits and for individuals participating in staking. The broader budget bill now moves to the House of Representatives for another vote, but this specific pro-crypto tax measure has suffered a major setback.

According to @WhiteHouse, the U.S. Senate has passed a major budget bill without including a key amendment from Senator Cynthia Lummis aimed at easing cryptocurrency taxation. The proposed changes would have waived capital gains taxes on crypto transactions under $300 and altered the tax treatment of staking and mining rewards to only be taxed upon their sale, addressing what the industry considers double taxation. The failure of this amendment to be included means the current, less favorable tax rules remain in effect, creating continued regulatory uncertainty for traders and investors. This legislative development occurred as the cryptocurrency market saw a downturn, with major assets like Ethereum (ETH), Cardano (ADA), and Solana (SOL) experiencing significant price drops. For instance, the provided data shows SOLUSDT fell by over 5% and ADAUSDT declined by over 5.4% in 24 hours, highlighting potential market sensitivity to U.S. regulatory news.

According to Stock Talk (@stocktalkweekly), Senators Bernie Sanders and Angus King are introducing a bill that would ban pharmaceutical manufacturers from direct-to-consumer advertising, as reported by the Wall Street Journal. This legislative move could significantly impact pharmaceutical stock valuations, particularly companies with large advertising budgets like Pfizer and Johnson & Johnson. For traders, the proposed ban may trigger volatility in pharma equities and potentially influence healthcare-related crypto tokens, as regulatory shifts in traditional markets often drive increased interest in decentralized health and DeFi projects. Source: Stock Talk, Wall Street Journal, June 12, 2025.

According to Fox News, the U.S. Senate unanimously passed a bill granting tipped workers a tax deduction of up to $25,000. This legislative move is seen as a significant boost to consumer spending power, particularly for lower-income groups, which could increase liquidity in both traditional and crypto markets. Traders should monitor potential upticks in retail-driven crypto activity as improved household finances often correlate with higher retail crypto investments. This development may also shift short-term sentiment for major coins like Bitcoin and Ethereum, as positive fiscal policy can spur broader risk-on market behavior. Source: Fox News (May 21, 2025).