Bloomberg News Now July 12, 2025: Pump.fun Raises $600 Mil, Trump: 30% Tariff on Mexico & EU, More
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Jul 13, 2025 Explore the fascinating surge of meme coins and how Pump.fun managed to raise an astonishing $600 million as Bitcoin climbs. Hear about President Trump's proposed tariffs on Mexico and the EU, and their potential impact on global markets. Discover the community backlash following a beach closure in a wealthy area and the tech solutions introduced to help businesses thrive. Plus, revel in a triumphant moment for women's tennis at Wimbledon!
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Meme Coin Craze Surges
- Pump.fund raised $600 million in just 12 minutes, highlighting the explosive popularity of meme coins.
- This occurred right after Bitcoin hit a new record high, showing growing interest in speculative digital assets.
Trump's Tariff Threat Shakes Markets
- President Trump threatened 30% tariffs on Mexico and the EU starting August 1.
- This disrupted ongoing trade negotiations and increased global financial market uncertainty.
Prime Day Lifts Online Sales
- Amazon’s expanded Prime Day boosted U.S. online retail sales by 30.3% to $24.1 billion.
- Overlapping sales by Walmart and Target helped push retail growth beyond estimates.