Bet
Jocelin A. & Sean H.
May 13, 2025 • Estimated Reading Time: 10 minutes
TLDR
MARKET RECAP → The S&P 500 (VOO) rose Tuesday, returning to positive territory for the year as investors built on the previous session’s rally sparked by cooling U.S.-China trade tensions.
ERIC TRUMP'S BITCOIN BET GOES PUBLIC → 📉 Eric and Don Jr. backed American Bitcoin is going public via a merger with Gryphon Digital Mining, giving the Trump family 98% control and retail investors another way to chase crypto gains—without touching actual crypto.
INFLATION EASES TO 2.3% IN APRIL → 📉 Inflation cooled to 2.3%, the lowest since early 2021, but with Trump’s tariff talks still in play, markets aren’t counting on a Fed rate cut until fall.
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TODAY’S TOP NEWS
Eric Trump's Bitcoin Bet Goes Public
📈 American Bitcoin, a crypto mining startup co-founded by Eric Trump, announced plans to go public via an all-stock merger with Gryphon Digital Mining. Post-merger, existing American Bitcoin shareholders—including Eric and Donald Trump Jr.—will retain 98% ownership.
🪙 The venture marks the latest crypto push from the Trump family, following meme coins and crypto firm World Liberty Financial. Eric Trump, now Chief Strategy Officer, pitched the firm as the "most investable Bitcoin accumulation platform."
🚀 Gryphon shares tripled and Hut 8 rose 11% after the announcement. The deal, set to close in Q3 2025, reflects the growing trend of companies adopting Bitcoin-heavy treasury strategies to attract retail investors without direct crypto exposure.
TODAY’S TOP NEWS
Inflation Eases To 2.3% In April
📉 Inflation cooled off — The consumer price index rose just 0.2% in April, pulling the annual rate down to 2.3%, the lowest since February 2021. Core CPI (excluding food and energy) also climbed 0.2% for the month, up 2.8% year-over-year.
🥚 Eggs cracked, shelters stacked — Egg prices plunged 12.7%, while shelter costs continued climbing, accounting for over half of April’s overall inflation rise. Used car prices, apparel, and food costs slipped, but medical care nudged higher.
🧾 Tariff wild card still looms — While inflation data looked tame, uncertainty over President Trump’s tariffs remains. Traders are now betting the Fed holds off on rate cuts until September, expecting two instead of three reductions this year.
KEEP READING
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