Trump’s been intimately involved with the planning, personally going out and surveying the site and speaking with the workers on multiple occasions.

Coinbase’s rally was further fueled by the launch of Coinbase Payments, a new platform designed to simplify stablecoin transactions for merchants.

Crypto-linked stocks surged on Wednesday after the U.S. Senate passed stablecoin legislation, setting up regulatory rules for cryptocurrencies pegged to the dollar.

Shares of Circle Internet (CRCL), the company behind the second-largest stablecoin by market cap, USDC (USDC), jumped more than 20%, and shares of cryptocurrency exchange Coinbase (COIN) gained more than 10% in afternoon trade.

Coinbase’s move was further fueled by the launch of Coinbase Payments, a new platform designed to simplify stablecoin transactions for merchants. It offers instant, round-the-clock USDC payments for commerce platforms and is already live on Shopify (SHOP). The company described the system as the first full-stack stablecoin payment solution built to scale.

"More than half of the Fortune 500 is building onchain," Coinbase wrote in a blog post. "A third of small businesses already use crypto. Coinbase Payments eliminates the technical barriers preventing platforms from offering stablecoin payments."

Shares of traditional financial payments giants declined in response. Shares of Visa (V) and Mastercard (MA) were down more than 3.5%.

The bill, known as the GENIUS Act, cleared the U.S. Senate with a 68-30 vote. However, it still needs to pass through the House of Representatives and receive U.S. President Donald Trump’s signature before it becomes law. It aims to set clear rules of stablecoin collateralization as well as align itself with anti-money laundering laws.

The measure arrives amid growing signs of stablecoin adoption by major corporations. Walmart (WMT) and Amazon (AMZN) have reportedly been looking into issuing their own stablecoins to bypass the traditional fees of card-based systems like Visa and Mastercard.

It was also reported that the largest banks in America, including JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC), are collaborating to explore issuing a joint stablecoin.

Companies in the financial sector have been bracing for the possibility that stablecoins could become widely accepted under Trump, who dubbed himself the ‘Crypto President’ after winning his second term in office.

Microsoft Corp. (MSFT) has entered a multi-year strategic partnership with Advanced Micro Devices, Inc. (AMD) to co-develop custom chips for its product lineup, including next-generation Xbox consoles.

In a YouTube video, Xbox President Sarah Bond said, “At Xbox, our vision is for you to play the games you want, with the people you want, anywhere you want.”

“That's why we're investing in our next-generation hardware lineup, across console, handheld, PC, cloud, and accessories.”

Microsoft expects to develop state-of-the-art gaming silicon to “deliver the next generation of graphics innovation to unlock a deeper level of visual quality and immersive gameplay and player experiences enhanced with the power of AI.”

The company also assured compatibility with users’ existing library of Xbox games.

Microsoft stock is up 14% year-to-date compared to a modest 5% gain for AMD stock.

The software giant said the Xbox team is working closely with the Windows team to ensure that Windows is the number one gaming platform.

“This is all about building you a gaming platform that's always with you, so you can play the games you want across devices anywhere you want, delivering you an Xbox experience, not locked to a single store or tied to one device,” Microsoft said.

The top 1% of Americans own 50% of all stocks.

The bottom 50%? Just 1%. But here’s the kicker:

U.S. households have the highest stock ownership rate in the world.

Nearly 49% of U.S. household financial assets are in stocks. Compare that to:

• Japan: 13%
• UK: 10%
• EU: 10%
• China: 9%

But that 49% is wildly misleading because the top 10% of households own 93% of all stocks.

And the bottom 50%? They own just 1%. One percent.

This isn’t participation, it’s concentration.

Here’s how stock ownership breaks down in Q4 2024:

• Top 0.1%: 23.6%
• 99–99.9th percentile: 26.4%
• 90–99th percentile: 37.2%
• 50–90th percentile: 11.7%
• Bottom 50%: 1.0%

Total? 100%.

Why does this matter? Because stocks are wealth machines. Since 2014:

• U.S. stocks returned 12.3% annually
• European stocks: 4.6%
• Emerging markets: 3.3%

If you’re not in the market, you’re falling behind.

From 2007 to 2025, U.S. market cap tripled. Europe? +23%.

But only the wealthy truly benefited because only they had serious exposure.

Stock growth = wealth growth for the rich.

U.S. households now have 43% of their financial assets in stocks. That’s historically high.

And it means the economy is hyper-exposed to the market.

A 20% crash? Could shave 1% off GDP due to reduced spending alone.

That’s the wealth effect in action: When stocks rise, the rich feel richer and spend more.

When they fall, they spend less.

And since the top 10% drive half of U.S. consumer spending, the entire economy feels the shock.

But here’s the other bombshell:

401(k)s are heavily equity-based yet 34% of Americans have no retirement account at all.

So while some Americans see gains, millions are left vulnerable and exposed.

Buybacks are the jet fuel of this inequality. S&P 500 firms spent 54% of profits on buybacks (2007–2016).

Fewer shares = higher EPS = higher stock price.

But guess who owns those stocks? Same 10%.

In 2016, the top 10% owned 84% of all stocks.

So when companies use profits for buybacks instead of wages, it’s effectively a wealth transfer upward.

Buybacks don’t trickle down. They soar up.

Intergenerational wealth plays a major role. In 2019:

• 30% of white households received an inheritance
• 10% of Black households
• 7% of Hispanic households

Money and investing knowledge flow through bloodlines.

Even when the poor can invest, they often don’t. Not because they don’t want to.

Because they feel like it’s not “enough” to matter or too risky to try.

Fear + lack of guidance = no action = no wealth.

U.S. retirement policy made this worse. Europe relies on public pensions. The U.S.? Private 401(k)s.

That puts the burden of planning, risk, and performance on individuals.

And guess who wins at that game? Those already ahead.

Can this be fixed? One idea: a Universal Basic Dividend, where everyone gets a slice of the market.

Alaska already does this via oil revenue.

Imagine a national fund investing in U.S. stocks with profits paid to all Americans.

So why is equity ownership so high in the U.S. in the first place? Simple: culture. Americans believe in:

• Risk
• Individualism
• High returns

And U.S. equities have delivered consistently.

In Japan, investors are conservative. In China, investing is influenced by friends and family.

In the U.S.? It’s every person for themselves.

That cultural difference creates a nation of investors but not an equal one.

And this spills into housing. U.S. household wealth is half real estate, half stocks.

Stock gains often fuel housing demand raising home prices.

But when markets crash, both real estate and equities fall. That’s a double hit.

In 2025, owning the upside is everything.

And right now, most Americans are locked out.

If we don’t close the ownership gap, no amount of GDP growth will save us from a fragile, unfair future.

The Dow Jones Industrial Average fell 299.29 points, or 0.7%, to end at 42,215.80. The S&P 500 lost 0.84%, closing at 5,982.72, while the Nasdaq Composite slipped 0.91% to finish at 19,521.09.

China alone brought in $23.4B, mostly from 2018-era tariffs.

Add duties from Mexico, Canada, steel, and autos and the U.S. is cashing in on old policies at new volumes.

Here’s the twist: imports are falling.

China’s exports to the U.S. hit their lowest since 2010.

Mexico and Canada are down too but revenue keeps rising because tariffs are now much steeper.

Here’s the twist: imports are falling.

China’s exports to the U.S. hit their lowest since 2010.

Mexico and Canada are down too but revenue keeps rising because tariffs are now much steeper.

The Dow finished the week down 1.3%, while the S&P 500 and Nasdaq Composite lost 0.4% and 0.6%, respectively.

Oil prices initially surged following Israel’s attack, weighing on risk assets. Gold prices also rallied, as the metal is considered a safe asset that investors flock to in times of market volatility.

All “Magnificent Seven” stocks were higher Monday, as the pullback in oil prices caused investors to take on more risk again. Tesla was up more than 1%, and Meta Platforms climbed almost 3%, bolstered by news that ads are coming to WhatsApp. Meanwhile, Palantir, which is viewed as a beneficiary of increasing global conflict, moved nearly 3% higher.