Top stories today:
- Trump names XRP, SOL, ADA, BTC, ETH as part of U.S. crypto reserve
- Q1 GDP revised down to -1.5%, sharp down from prior +2.3% forecast
- MWC 2025 showcases solar panel-featuring smartphone, laptop
- European leaders race to craft plan to save Zelensky, U.S. support
- DeepSeek reveals ātheoreticalā profit margin of 5x+ on its AI models
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Trump names XRP, SOL, ADA, BTC, ETH as part of U.S. crypto reserve
Sun.: Trump revealed the structure of the U.S. crypto reserve.
Relatedly, Trump is hosting the first-ever Crypto Summit at White House on Fri.
White House AI and Crypto Czar David Sacks will chair the summit.
Ā Crypto prices surged following the announcement
3. Q1 GDPNow forecast revised down to -1.5%, sharp down from previous +2.3% forecast
Less-than-expected consumer spending and weak exports led to the downgrade.
-3.7pp from GDP due to net exports, the regional Fed bank sees.
+25% in Jan. merchandise trade deficit to $153.3B.
-0.5% in inflation-adjusted personal spending in Jan., the most in ~4 years.
It's early in the quarter, and GDPNow estimates will update with new data over time.
