Balaji, the former Chief Technology Officer of Coinbase, recently warned on the social platform X that the United States is facing multiple crises intertwined with deindustrialization, the shaking of dollar hegemony, and severe internal divisions, which may trigger profound economic and social turmoil.
Unbalanced Economic Engine: The Dual Crisis of Deindustrialization and the Dollar System
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and meaning while translating to English.]
From Division to Reconstruction, Where Should the United States Go?
Balaji's perspective serves as a warning bell, revealing the multiple pressures facing the United States in economic, social, and geopolitical domains. From de-industrialization and the dollar hegemony crisis to the shift in technological and innovation competition, his analysis aligns closely with Ray Dalio's observations.
How to lead the United States out of multiple challenges in the current chaotic situation has become the most challenging issue for the Trump administration.
President Trump signed an administrative order imposing a 25% tariff on non-US-manufactured automobiles, causing US stocks to fall again. Most of the top 10 cryptocurrencies declined, with $266 million in funds liquidated within 24 hours. Besides Bitcoin and Ethereum, JELLYJELLY drew significant community attention yesterday. A whale could easily manipulate the market, also verifying that Hyperliquid is not as decentralized as it superficially claimed.
According to Bloomberg, President Trump signed an order imposing a 25% tariff on all non-US-manufactured automobiles, effective from April 2nd. Trump stated that the upcoming reciprocal tariffs will be "very lenient". He also mentioned that China might receive tariff reductions to ensure TikTok can be sold to a US company.
US stocks fell on Wednesday, with the S&P 500 dropping over 1%, led by large-cap stocks. Their quarterly selloff could be the most severe since 2022. Nvidia and Tesla dropped at least 5.5%. The Nasdaq index fell by over 2%. The indicator measuring large banks ended an eight-day winning streak.
Concerns about the economic impact of global trade wars are reducing US stock liquidity, causing trouble for institutional investors and potentially increasing market volatility. Deutsche Bank's data shows that S&P 500 stock index futures liquidity is at a two-year low.
Most top 10 cryptocurrencies declined, with $266 million liquidated in 24 hours. Besides Bitcoin and Ethereum, JELLYJELLY drew significant attention yesterday. A whale opened a short position on $JELLYJELLY on Hyperliquid while simultaneously raising spot prices to trigger liquidations. Hyperliquid's mechanism involves the official treasury taking over the short position. Ultimately, with the whale's market manipulation, OKX, and Binance listing $JELLYJELLY, Hyperliquid announced delisting the trading pair.
