Before the Bitcoin ETF universe was normalized by the United States Securities & Exchange Commission (SEC), there were fringe players which were leaders, and which were also asking for the government to clearly regulate them. The thesis was self-evident: if they were doing well before full regulation, post regulation, the skies of opportunities would open up for them.

But you know what? Immediately the SEC approved and clarified things, the big players came in, and now, the world of Bitcoin ETF is now in the hands of Blackrock and big cousins. Those small players have seen significant outflows of funds from their ecosystems as the world of money congregates to the usual stable states.

Warren Buffett cannot understand Nigeria to invest therein, making someone with $10 million to have a great chance. But if Nigeria is fully normalized, he will come with $billions and many opportunities will fade away from those small investors. Say it in another way: you cannot wait for a perfect condition because in business, it is all an illusion. As factors shift, re-alignments take shape.

Remember Coinbase. I wrote that under Trump when all the rules are largely  made free, its default status as the most trusted exchange in the US will begin to see competitive challenges. Why? Before Trump, many were afraid to do certain things in the crypto domain. But now, it is a wild race and exchanges, etc are coming up, and suddenly Coinbase has lost 13% of its market value since Trump 2.0 inauguration.

Lesson: There is no moment in business that can convey an absolute asymmetric positioning without also making you lose a competitive edge in one way. And that means we must take actions instead of waiting for a perfect ecosystem to emerge.

President Donald Trump has repeatedly pledged to end what he describes as Joe Biden’s “war on cryptocurrency” if elected, a stance he emphasized during his 2024 presidential campaign and has continued to highlight following his victory. These narrative frames Biden’s administration as hostile to the crypto industry, citing aggressive regulatory actions, while positioning Trump as a pro-crypto advocate aiming to foster innovation and make the United States a global leader in digital assets.

Comment on Feed

Comment 1: Nice expose but with respect to Coinbase, what you shared is half truth. Coinbase marketcap is down because Bitcoin price is down. Even $MSTR Microstrategy has lost 16% of its marketcap within the last one month. You will see a reversal when Bitcoin price starts going up.

My Response: It is social science, not natural science, no nothing is absolute. You made my point despite saying half-truth.  If you look at the big picture, why is Bitcoin down? And the fact that Bitcoin is down is part of my thesis as many think it will fly through the roof because of the no-regulation era. I am saying nothing like. Why? Before Trump, people were afraid to create memecoins. But when Trump and his wife began the show, people are now flooding everywhere with coins, and that is now a competition for BTC, etc. With $TRUMP, someone would have bought $BTC but with coins everywhere, there are more options.

President Trump to End Biden’s War’s on Crypto Innovations’

Retail Giant Braces for Impact as New Trade Duties Threaten Supply Chains

Walmart has issued a stark warning that its business could be significantly affected by new tariffs that former President Donald Trump is seeking to impose, particularly if duties targeting Canada and Mexico—two of America’s largest trading partners—are implemented.

The warning came after the retail giant released its quarterly earnings report, which showed slowing profit growth. The announcement rattled investors, leading to a 6% drop in Walmart’s stock price during a broader market decline.

In an interview with CNBC, Walmart’s Chief Financial Officer John David Rainey acknowledged that while the company sources two-thirds of its products from the U.S., it is “not going to be completely immune” from trade duties and their inflationary effects.

“We’ve lived in a tariff environment for the last seven or eight years, and we’ll do what we know how to do,” Rainey said. “We’ll work with suppliers. We’ll lean into our private brand. We’ll shift supply where necessary to try to take advantage of lower costs that we can then pass on to consumers.”

However, he admitted that Walmart could not fully shield consumers from price hikes, emphasizing that tariffs typically lead to higher costs across the supply chain.

“There will likely be cases where prices for consumers will increase as a result of tariffs,” Rainey added, noting that such policies are “inflationary” for shoppers.

Trump’s Tariffs Could Reshape U.S. Trade and Retail Costs

Trump has proposed an expansive list of tariffs, which, if fully implemented, could significantly disrupt global supply chains and raise costs for U.S. businesses and consumers. These proposed tariffs include:

• A 10% across-the-board tariff on all imported goods
• Higher duties on steel, aluminum, automobiles, drugs, semiconductors, and lumber
• New trade penalties targeting China, Canada, and Mexico

So far, only a supplemental 10% duty on Chinese goods has gone into effect, but Trump has repeatedly threatened to expand the list of affected goods and countries depending on ongoing trade negotiations.

While Trump has framed the tariffs as a strategy to protect American jobs and industries, economists warn that the real impact could be inflation, slower economic growth, and increased costs for businesses and consumers.

Historically, tariffs have functioned as a hidden tax, raising the price of imported goods. Since many U.S. manufacturers rely on imported materials, businesses often pass the added costs down to consumers.

A recent report from the Peterson Institute for International Economics estimated that Trump’s proposed 10% universal tariff would cost the average U.S. household an additional $1,500 per year due to price increases across various goods, including electronics, vehicles, and food.

The concern is so widespread that the Federal Reserve has now factored tariff risks into its economic outlook.

This week, the Fed acknowledged that rising tariffs were part of its reasoning for keeping interest rates elevated, as trade policies could exacerbate inflation.

The Fed noted that business contacts in a number of Districts had indicated that firms would attempt to pass on to consumers higher input costs arising from potential tariffs.

In its “upside risks to the inflation outlook”, the central bank specifically cited “the possible effects of potential changes in trade and immigration policy.”

U.S. Companies Brace for Disruptions

Beyond Walmart, major U.S. companies are scrambling to assess how Trump’s tariffs could impact their operations.

According to CNBC data, the word “tariffs” has been mentioned in over 190 earnings calls held by S&P 500 companies in 2025, a frequency not seen in nearly five years.

While some businesses—particularly those in manufacturing and retail—expect direct cost increases, others are worried about the broader economic slowdown that could result from higher consumer prices.

“We’ve game-planned out several scenarios and steps we could take depending on what actually goes into effect,” said Cisco CFO R. Scott Herren, whose company depends on imported electronic components.

Will Consumers Pay the Price?

For Walmart and other major retailers, the challenge now is finding ways to minimize the cost burden on consumers.

Some of the strategies being explored include:

• Sourcing goods from lower-tariff countries
• Expanding private-label brands to replace expensive imports
• Negotiating price adjustments with suppliers

However, many industry analysts remain skeptical that these measures will be enough to completely offset the cost increases.

As one of the largest retailers in the world, Walmart’s response is expected to serve as a key indicator of whether tariff-induced inflation will trickle down to everyday shoppers—and just how much of the burden they will be forced to bear.

Tesla is facing mounting boycott calls in Malaysia, as outrage spreads over CEO Elon Musk’s support for U.S. President Donald Trump, particularly in light of Trump’s controversial plan for Gaza, which could lead to the displacement of millions of Palestinians.

The backlash in Malaysia—one of Southeast Asia’s most vocal pro-Palestinian nations—underscores the growing risks of Musk’s political entanglements for Tesla’s business, particularly in international markets where perceptions of U.S. foreign policy play a major role in consumer sentiment.

Per SCMP, Malaysians took to social media to denounce Tesla after its launch of the Model Y “Juniper” earlier this week, branding the vehicle a “swasticar”—a term that originated in Europe following Musk’s hand gestures during Trump’s inauguration last month, which many perceived as resembling a Nazi salute.

“Not touching this swasticar,” wrote a user named Adnan Abdullah in response to a Facebook post by a Malaysian car review site regarding the Tesla Model Y launch.

The controversy surrounding Musk’s gesture quickly spread beyond the West. In London, activists pasted stickers reading “Don’t buy a swasticar” on hundreds of Teslas, according to a Newsweek report—and the slogan has now made its way to Southeast Asia.

The Tesla backlash in Malaysia intensified after Trump announced on February 4 that his administration was considering a U.S.-led reconstruction of Gaza, proposing to turn the war-ravaged strip into the “Riviera of the Middle East” while forcibly relocating Palestinians to Egypt and Jordan.

“Palestinians won’t have a right to return,” Trump declared. “Because they’re going to have much better housing.”

The proposal sparked global condemnation, particularly in Malaysia, which has long been one of the strongest supporters of the Palestinian cause. Prime Minister Anwar Ibrahim has positioned himself as Southeast Asia’s leading voice against Israel’s war on Gaza, calling out Western powers—including the United States—for enabling Israeli aggression.

Against this backdrop, Musk’s close alignment with Trump has deeply damaged Tesla’s image in Malaysia, where consumers have vowed to boycott the brand.

“Will never support a company that planned to displace Palestinians from Gaza. Vote with our money,” wrote a user named YH Chin on Facebook.

Some compared Tesla to Nazi-era German carmakers, drawing historical parallels between Musk’s ties to Trump and Volkswagen’s origins under Hitler.

“The new Nazi car. Racists and Betas will love it,” wrote Prabha Krishnan, referencing a term popular among incel communities to describe submissive males.

Tesla’s Malaysia Business at Risk Amid Growing Competition

The controversy comes at a precarious time for Tesla in Malaysia, where the company has struggled to gain a foothold against Chinese electric vehicle (EV) manufacturers. Tesla officially entered Malaysia in July 2023, launching its first showroom and customer experience center in Southeast Asia.

However, despite initial strong demand, Tesla has fallen behind Chinese EV brands, which offer cheaper and more accessible alternatives. BYD, China’s top EV maker, outsold Tesla in Malaysia in 2024, registering 8,750 units compared to Tesla’s 5,137 units, according to the Malaysian Road Transport Department.

The boycott movement could further erode Tesla’s market share at a time when Chinese brands like BYD and Xpeng, as well as local automakers Proton and Perodua, are ramping up EV production.

For Tesla owners in Malaysia, the controversy raises safety concerns, as some fear that their vehicles could become targets of vandalism.

“I think Tesla and Musk are intertwined, and the fact that Musk is spending a lot of time and energy doing non-Tesla things isn’t good for Tesla,” said a Malaysian Tesla owner, who requested anonymity due to concerns over possible reprisals.

Malaysia has set a goal of transitioning 70% of privately owned vehicles to EVs by 2050, but analysts believe that if Tesla’s reputation continues to suffer, Chinese brands could dominate the market instead.

“A Tesla boycott might slow Malaysia’s EV adoption in the short term,” the owner added. “But brands like BYD, Xpeng, and even Proton and Perodua will eventually fill the gap.”

Musk’s Political Ties Threaten Tesla’s Global Sales

Tesla’s Malaysia backlash is just the latest in a string of challenges linked to Musk’s increasingly politicized public persona.

Since becoming a major donor to Trump’s re-election campaign, Musk has cemented his role as a key adviser to the U.S. president, drawing backlash from liberals, anti-fascist activists, and international markets wary of Trump’s policies.

Beyond Southeast Asia, Tesla’s global sales have been plummeting. Recent full-year and January sales reports from key markets suggest a steep decline, even with the Cybertruck launch—which was expected to boost U.S. sales.

Musk’s erratic behavior and political affiliations have alienated a significant portion of Tesla’s traditional customer base, including many in Democratic-leaning states in the U.S. and international markets with strong anti-Trump sentiment.

The growing calls to boycott Tesla in Malaysia could hamper the company’s long-term ambitions in Southeast Asia, particularly as competitors capitalize on the controversy. With Tesla already struggling to compete against cheaper Chinese EVs, Musk’s close ties to Trump are now compounding the problem, alienating consumers in a country where political sentiment heavily influences purchasing decisions.