Hello Capitalists,

Trump just drew a line with Putin; end the war in Ukraine or any country who trades with Russia will face 100% tariffs.

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Here’s everything you need to be following today:

Trump threatens Russia with 100% tariffs on their trade partners

President Donald Trump threatened to impose 100% "secondary tariffs" on Russia's trade partners if Russian President Vladimir Putin does not agree to a deal to end the invasion of Ukraine within 50 days.

• Trump's Tariff Threat: President Donald Trump’s potential 100% "secondary tariffs" would apply to countries trading with Russia, particularly targeting top buyers of Russian fossil fuels like China, India, and Brazil, if Russia does not agree to a Ukraine peace deal within 50 days.

• Meeting with NATO: The threat was made during a White House meeting with NATO Secretary General Mark Rutte, where Trump expressed disappointment with Putin, believing a deal should have been reached months earlier.

• Context of Frustration: Trump's remarks reflect growing frustration with Putin's reluctance to accept a ceasefire, amid ongoing Russian attacks and a stalled U.S.-led peace process.

Bitcoin’s stunning 4% weekend surge sees records tumble

Bitcoin surged past $120,000 over the weekend to a new all-time high Monday, driven by record inflows into cryptocurrency exchange-traded funds and growing institutional demand, as investors anticipate favorable U.S. crypto legislation.

• Bitcoin peaked at $122,600, The surge was fueled by significant inflows into bitcoin ETFs, with $1.18 billion recorded on Thursday, the largest single-day inflow in 2025.

• Institutional investors, including corporate treasuries, are driving the rally, with long-term holders locking up supply and $15 billion in Bitcoin ETF purchases over the past six to eight weeks.

• Analysts predict further upside, with forecasts suggesting bitcoin could hit $125,000 in the next one to two months, despite potential short-term dips due to trade disputes involving the U.S., EU, and Mexico.

• Positive sentiment is bolstered by anticipated U.S. crypto legislation and global policy clarity, particularly around stablecoins.

The pressure on Powell keeps rising as his possible replacement suggests he could be fired “for cause.“

Two leading candidates to replace Federal Reserve Chair Jerome Powell have openly criticized him, escalating White House pressure as the Trump administration explores grounds to remove him before his term ends in May 2026.

• Kevin Hassett and Kevin Warsh, criticized him for a $2.5 billion renovation of the Fed’s headquarters, alleging mismanagement.

• The Trump administration is intensifying its campaign against Powell, with White House budget director Russ Vought accusing him of “grossly mismanaging” the central bank and hinting at possible legal violations.

• Hassett suggested the administration is examining whether Powell can be fired "for cause" over the renovation costs, which the Fed attributes to unexpected lead and asbestos findings.

• The pressure campaign, including public attacks and scrutiny of the renovation, aims to push Powell to resign or lower interest rates, though experts warn such moves could undermine the Fed’s independence and destabilize financial markets.

Elon shoots down merging Tesla and xAI but is open to investment

Elon Musk on Monday rejected the idea of merging his electric vehicle company Tesla with his artificial intelligence startup xAI.

• Elon Musk explicitly stated he does not support a merger between Tesla and xAI, responding "No" to a question posed by X account @BullStreetBets_
  about Tesla investors' support for such a move.

• Despite ruling out a merger, Musk suggested Tesla may hold a shareholder vote to decide on investing in xAI, indicating a potential financial collaboration between the two companies.

• Musk’s xAI, which develops the Grok AI chatbot, recently faced criticism for controversial outputs, prompting an apology from the company for "horrific behavior" and assurances of corrective measures.

• xAI previously acquired Musk’s social media platform X in a $33 billion deal in March, valuing the combined entity at $80 billion, while SpaceX reportedly committed $2 billion to xAI as part of a larger fundraising effort.

Apple is under pressure to fix its Siri AI disaster and Tim Cook is being blamed

Apple Inc. is under pressure to overhaul its artificial intelligence strategy as its stock slides and analysts question CEO Tim Cook’s leadership, with calls for a product-focused successor to accelerate innovation in the fiercely competitive AI race.

• Struggling AI Efforts: Apple faces criticism for lagging in AI innovation, particularly with Siri’s delayed upgrades and limited generative AI advancements compared to rivals, contributing to a 15% stock drop this year.

• Leadership Changes Proposed: Analysts from LightShed Partners suggest Apple needs a new CEO focused on product innovation, as current leadership under Tim Cook is seen as struggling to keep pace in the AI race.

• Key Executive Departures: The departure of AI executive Ruoming Pang to Meta and COO Jeff Williams’ retirement signal a tumultuous period, raising concerns about Apple’s ability to retain talent and execute its AI strategy.

• Potential Strategic Shift: Apple is reportedly considering partnerships with Anthropic or OpenAI to power a new Siri version, a reversal from its in-house AI model approach.

Gavin Newsom takes a shot at JD Vance and it didn’t go well

California Gov. Gavin Newsom and Vice President JD Vance traded sharp barbs over the Trump administration’s mass deportation policies after Vance’s family vacation to Disneyland, with Newsom criticizing the impact on migrant families and Vance brushing off the remarks, highlighting tensions over immigration enforcement in California.

• California Gov. Gavin Newsom criticized Vice President JD Vance on social media for enjoying a family vacation at Disneyland, accusing the Trump administration of “tearing apart” migrant families through mass deportation policies.

• Vance, who was at the theme park with his wife and children, responded sarcastically, thanking Newsom for the well-wishes without addressing the family separation critique.

• The exchange followed ICE raids on two California farms, where federal agents detained hundreds of suspected undocumented immigrants, sparking protests in Anaheim against Vance and the administration’s immigration agenda.

Gen-Z conservatives are not buying Mamdani’s promises

Young conservatives at Turning Point USA’s Student Action Summit heavily criticized New York City mayoral candidate Zohran Mamdani’s democratic socialist policies.

• Conservative Concerns: Attendees at the Tampa summit expressed alarm over NYC mayoral candidate Zohran Mamdani’s policies, fearing they could steer the country in the wrong direction by fostering government dependency.

• Policy Critique: Mamdani’s proposals, including rent freezes, free public transit, city-owned grocery stores, and universal childcare for children ages 6 weeks to 5 years, were labeled as unfeasible and likely to burden taxpayers, with critics arguing they undermine personal ambition.

• Political Context: Mamdani’s upset victory in the Democratic primary over former Gov. Andrew Cuomo has sparked debate, with conservatives, including President Donald Trump, branding him a “communist,” a label Mamdani rejects in favor of democratic socialism.