This week’s market action featured a flurry of policy changes and crypto trends. President Trump imposed new tariffs on over 90 countries, including a significant 50% tariff on India and a 100% tariff on imported chips. Japan is pushing for swift implementation of the US tariff reduction agreement. Meanwhile, KakaoBank aims to enter South Korea’s stablecoin sector following the Bank of Korea’s halt of its central bank digital currency pilot program. President Trump has narrowed his search for a Fed Governor replacement and will name a nominee by week’s end, while he also prepares to announce a new Fed Chair. The Indonesian government met with Bitcoin Indonesia to explore using Bitcoin as a reserve asset. Brazil is looking to create a national Bitcoin reserve through a hearing in its lower house. Overall, the crypto market cap remained stable at $3.7 trillion. Institutions continued buying Bitcoin and ETH.