U.S. Economy Contracts Sharply in Q1 2025: Key Factors and Implications
The U.S. economy contracted at an annualized rate of 0.5 percent in the first quarter of 2025, according to the third estimate (BEA).
Photo by Library of Congress on Unsplash
In a keynote speech at the Bitcoin Conference in Nashville, former President Donald Trump promised that if re-elected, he would ensure the U.S. government retains its bitcoin holdings, but he did not propose a formal federal reserve of digital currency.
Trump criticized the Biden administration's approach to crypto regulation and pledged to make the U.S. a leader in the cryptocurrency sector.
The event highlighted the growing political focus on cryptocurrency, with other speakers like Robert F. Kennedy Jr. proposing more aggressive bitcoin strategies. The price of bitcoin briefly dipped during Trump's speech but later recovered.
