President Trump is on a tariff spree, a class action lawsuit against Pump. Fund and SBF seeking a pardon.

It's Friday, January 31st, 2025. I'm Christine Lee. This is Coindus Daily.

We all want to believe in something. In Chinese, belief also means trust.

We want to trust our systems and each other, so we can build a future beyond what we know.

Join us at Consensus Hong Kong, where belief becomes real.

Bitcoin's rally reversing Friday as President Donald Trump threatens to impose 100% tariffs on BRICS countries.

Posting on Truth Social, we are going to require a commitment from these seemingly hostile countries that they will neither create a new BRICS currency nor back any other currency to replace the mighty US dollar or they will face 100% tariffs and should

expect to say goodbye to selling into the wonderful U.S. economy. Trump also said he still intends

to impose 25% tariffs on Mexico and Canada beginning February 1st, citing immigration, drugs,

and subsidies. The news sent risk assets lower with stocks giving up

a chunk of earlier gains in Bitcoin slipping in reverse. A class action lawsuit proposal filed

in New York Thursday alleges that memecoin factory pump.fund fund operates an illegal securities

exchange that has given creators automated tools to launch over 50,000 unregistered

tokens. The complaint alleges that Pump. Fund's UK-based parent company, Batten Corporation,

collected nearly 500 million in fees by enabling widespread securities law violations.

The lawsuit potentially exposes the $140 billion meme coin market to greater regulatory

scrutiny. The parents of imprisoned crypto fraud Sir Sam Bakeman-Fried are reportedly attempting

to engage with President Trump's inner circle to secure a presidential pardon for their son,

who was handed a 25-year prison sentence after being convicted of fraud

following the collapse of his crypto exchange of TX. Bloomberg reporting the appeal for a pardon

leans on Trump's recent history of using his clemency powers to free another notorious

crypto figure, Silk Road founder Ross Albrecht. But unlike Albrecht, Bakeman-Fried lacks widespread public support,

...