Politics
UK inflation surged to 3% in January, marking a significant spike.
February 28, 2025
Egg prices are soaring to new heights, forcing Waffle House to add a $0.50 surcharge per egg, while in Pennsylvania, a thief recently made off with 100,000 eggs worth $40,000 from a local farm. The New York Times even released a guide for egg substitutes as shortages begin to hit the U.S.
In the markets, both the S&P 500 and Nasdaq 100 saw strong gains yesterday, with Nvidia leading the charge after Morgan Stanley reaffirmed it as the top pick in the chip sector. Meta hit a record by marking its 14th consecutive day of gains. Amazon, however, reported record sales, but disappointed investors with lower revenue forecasts, causing shares to dip after-hours.
This week has been a major one for crypto, with President Trump’s “crypto czar,” David Sacks, holding his debut press conference on Tuesday. He laid out his vision for ushering in a “golden age in digital assets,” starting with a top priority of establishing a “clear regulatory framework” for stablecoins. Sacks also hinted that a key focus for his new task force is to assess the “feasibility of a bitcoin reserve.”
Trump made waves in the crypto world with an even bolder move: becoming the first president to launch a bitcoin ETF—marking a historic first for both him and the industry. Last week, Trump Media & Technology Group debuted its fintech brand, Truth.Fi, and just yesterday revealed plans to trademark a collection of "America First-themed" ETFs. CEO Devin Nunes shared that the company is exploring various ways to differentiate its offerings, including bitcoin-related strategies.
Meanwhile, bitcoin’s biggest advocate, Michael Saylor of MicroStrategy (now rebranded as just “Strategy”), made headlines on Wednesday by announcing the largest quarterly increase in bitcoin holdings to date. The rebrand formalizes the company’s position as a bitcoin powerhouse.
The Takeaway
Despite the buzz surrounding these bitcoin announcements, the cryptocurrency’s price has remained relatively steady. After a brief spike to $102,000 on Tuesday, it has hovered around $97,000 for most of the week. While there’s momentum for clearer regulation, government officials are still using tentative language like “evaluating” and “exploring,” which may lead traders to hold off on making big moves until more concrete actions are taken.
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Elon Musk’s DOGE team, tasked with rooting out waste and fraud within U.S. government systems, has recently brought attention to some of the unexpected government-funded perks—like subscriptions to news outlets or NPR. While the use of taxpayer dollars may spark debate, it’s worth considering how Musk’s own companies have benefited from government support over the years.
In 2010, Tesla received a $465 million pre-IPO loan from the Obama administration via the Department of Energy to help expand its operations and support the U.S. electric vehicle industry. Additionally, Tesla has racked up over $1.3 billion in incentives for its Nevada Gigafactory and $64 million in state and local tax breaks for its Texas Gigafactory.
SpaceX, Musk’s aerospace company, has enjoyed over $18.5 billion in revenue from government contracts with the Department of Defense and NASA, including satellite launches and missions to the International Space Station. Ironically, SpaceX’s Starlink also held contracts with USAID, an agency now at the center of Musk’s cost-cutting initiatives.
The Takeaway
It’s easy to point fingers at questionable examples of government spending—like the infamous $14,000 toilet seat or $436 hammer—but it's also important to acknowledge the positive impact of government support. Many successful entrepreneurs, including Musk, have benefited from federal assistance, not to mention other industry giants like Apple, Nike, and FedEx, who’ve also received help from the Small Business Administration.
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Advertiser's disclosures:
¹ The minimum investment is $1,000. This is a paid advertisement for the Boxabl Inc. Regulation A offering. Please read the offering circular and related risks at StartEngine’s Boxabl Website.
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² Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.
³ December 23, 2024 will be the last day to invest and be considered a shareholder in 2024. Any investments made after this date will only be considered shareholders starting in 2025.
⁴ Please read the offering circular and related risk at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A+ Offering.
