News/Daily Market Wrap | Aug. 07 Daily Market Wrap | Aug. 07
Aug 07,2025,16:24
Hot Topic
- Trump implemented new tariffs on over 90 countries, including a 50% tariff on India and 100% on foreign-made chips.
- Japan seeks swift implementation of U.S. tariff reduction agreement.
- KakaoBank plans to enter South Korea’s stablecoin sector after the Bank of Korea halted its CBDC pilot.
- Trump will name a nominee to replace Fed Governor Adriana Kugler by week's end and has narrowed the Fed Chair search to four candidates.
Market Updates
- The Indonesian government met with Bitcoin Indonesia to discuss adopting Bitcoin as a reserve asset.
- Brazil’s lower house to hold hearing on creating national Bitcoin reserve.
- The crypto market cap stabilised at $3.7 trillion, while institutions continued accumulating Bitcoin and ETH.
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