May 15th crypto world news

Today's market highlights: Director of the U.S. Digital Assets Council: Trump is still expected to sign cryptocurrency legislation before August.
MetaMask co-founder: The team is still considering launching a native token for the wallet.
The logic breakdown behind the surge: Will the US face a triple kill of stocks, bonds, and currencies again this summer? Citigroup points out that the narrative logic of US assets will shift from tariff issues to a fiscal crisis. As the reduction in DOGE spending and the decline in tariff revenue take effect, the US fiscal budget process may once again trigger a surge in term premiums, leading to a "triple kill" scenario of falling US stocks, rising US bond yields, and a weakening dollar.
What is the market saying?
When the Nasdaq is soaring, US Treasury yields are approaching highs, and the dollar is falling. Analysts believe that the rebound in US stocks may just be a superficial celebration, with the abnormal rise in Treasury yields and the divergence from the dollar's trajectory indicating structural fiscal issues in the US, or hinting at deeper risks of a dollar collapse. As the US government is expected to issue over $2 trillion in Treasury bonds, a lack of buyers may force the Federal Reserve to restart balance sheet expansion.
Will the easing of trade tensions turn this year's "big losers" in the US stock market into "big winners"? Citigroup and JPMorgan are both optimistic about the performance of this year's underperforming sectors in the US stock market, including small-cap stocks, technology hardware, and home builders. They believe that as trade tensions ease, along with the effects of catch-up and short squeeze, these sectors will experience a rebound in the short term.
Market focus shifts to the U.S. tax cut bill. House Republican leaders plan to submit the bill for a full vote in the House before Memorial Day, followed by submission to the Senate for review. Trump hopes to sign it into law before July 4. According to assessments, this bill will create a $3.7 trillion deficit for the U.S. Treasury over the next decade, with specific contents including an extension of the 2017 tax cut policies, a significant increase in border security spending, and cuts to several social welfare programs, but Republican lawmakers still have disagreements on the details.