Daily Crypto NewsEDITION #1205, 23 May

MONI DIGEST #9

Justin Sun is enjoying dinner with Trump, the newly broken ATH hasn’t overheated the crypto market, and Goldman Sachs believes the dollar will face major challenges this year.

Economy & Macro News:

- Goldman Sachs forecasts the continued weakening of the US dollar in 2025 (source).

US trade policy is slowing the economy:

The US continues to pursue protectionist trade policies, despite revising forecasts for tariff reductions.

Tariffs reduce citizens' incomes and company profits, creating economic uncertainty.

This cuts investments and impacts prices, reducing the dollar's appeal.

Global asset diversification:

US portfolios are overly concentrated and vulnerable to currency risks.

Goldman forecasts stronger returns outside the US, attracting investors to non-dollar assets.

The US’s inconsistent policies are pushing investors to diversify and move away from the dollar.

- The US Supreme Court ruled that Trump has no authority to fire Jerome Powell. Their conflict was discussed in this digest.

Crypto Market Update:

- Justin Sun posted a video from Trump’s dinner.

Very cute and wholesome, although the warm atmosphere doesn’t erase concerns about crypto corruption.

- Despite the bullish sentiment, overheating indicators remain low compared to previous peaks — which is undoubtedly good and encouraging. We'd love to see the market rise further.

Projects to Watch:

OP_NET (X) – New weekly quests are live on Galxe. Completing them earns you the Voyager role on Discord (quiz answers: D, C, B, C, C, C, B, B, B, C, A, C, D, C, B). Don’t forget: their testnet campaign is still active – details here. Deadline: May 28.

Camp Network (X) – Announced game quests on Layer3, running until August 23. Tasks will be updated gradually. Since cubes are claimed in testnet, don’t forget to visit the faucet for test tokens.

Farcaster (X) – Now supports the Solana network (announcement) and is already teasing users: to improve your chances of future airdrops from Solana apps, fund your wallet with at least $10 in $SOL. Jump into Warpcast, load up on $SOL, and start using mini-apps on Solana too.

Plasma (X) – Just shared a mega-bullish announcement about strategic investment from Founders Fund, one of Silicon Valley’s most respected VCs led by Peter Thiel. Also, check out this post for ways you can already get involved with the project.

Abstract (X) – A new In the Moment - Monaco badge is now available (claim here) in partnership with Gate. To get it, collect two Red Bull NFTs of one category per day for three days, starting today. You can choose either free Standard or Rare NFTs for 0.002 $ETH. Visit Gate, connect your ABS Wallet, scroll down, and click Collect on the NFTs you need. Deadline: May 25.