Daily Crypto NewsEDITION #1206, 29 May

MONI-DIGEST #13

The orange man lost to Congress, Musk is leaving DOGE and putting pressure on Durov, and TON is… as usual.

Economy & Macro News:

- Trump exceeded his authority by imposing a batch of tariffs without Congress. The tariffs were annulled, and the $10 billion earned will have to be returned. The White House has filed an appeal.

Now it’ll be harder for Trump to manipulate the markets. The cancellation of all tariffs could also strengthen the dollar and bring the U.S. economy back in line.

- Trump ordered chip developers to stop sales to China.

Chips are always a sensitive topic. Just a month ago, there was panic even in the gaming segment — trade tariffs affect everyone, and console prices are rising alongside other goods.

And during COVID, we saw what the economy looks like without chips — entire cars couldn't leave factories because of one tiny part.

- Elon Musk is stepping away from DOGE.

Elon quickly left his government position. Earlier, he joked that the country's money was being used by the elite for "big parties." He had already signaled his intent to leave.

What’s happening in crypto:

- $TON plans to raise $1.5 billion through a bond deal.

- Telegram and Grok may enter a year-long partnership, though Elon wrote on Twitter that the deal is not yet signed. Pavel replied that the details are still being finalized, but the deal should happen.

Should or will, Pavel? 👀

Projects we’re working on:

Farcaster — Just yesterday launched their Pro subscription, and today they’re already handing out drops. If you were among the first 10,000 to subscribe, simply leave a comment under this post saying: Ratifying @procoin governance — and you’ll receive 42,000 $PROCOIN to your main wallet on the Base network. The token is already trading at around ~$0.0018. Additionally, Dan Romero recommends depositing at least $10 to your internal Sol wallet for potential future drops in this network.

Backpack — The first season of points farming just ended, and season two is coming. While the project finalizes results and bonuses, they’ve launched an interseason “Limbo” phase with rewards: Backpack will raffle up to $100K daily among active platform traders. Trade here

Caldera — Partnered with GenLayer. To celebrate, they’re offering a free OAT on Galxe. Deadline: June 3rd.

Hemi Network — The project is getting closer to its TGE. If you joined the testnet (we mentioned it here), now they strongly recommend verifying on the Demos platform with facial ID and a $0.001 ETH fee (use the relay bridge). They also launched a contribution campaign on Guild. More details in this guide.

Sophon — We previously shared info about their checker. Yesterday, the long-awaited claim went live. If you’re eligible, don’t forget to grab your tokens (make sure to turn off auto-staking first). The $SOPH token is currently trading at around ~$0.063 (CoinMarketCap), and you can see a full exchange list here.