News Roundup — Trump Ally Bill Ackman Calls for 90-Day Pause on US Tariffs as Crypto Sinks

Major news stories this week;‍

1. Trump Ally Bill Ackman Calls for 90-Day Pause on US Tariffs as Crypto Sinks‍
2. Tether May Launch New Stablecoin If US Regulators Push Out USDT, Says CEO‍
3. FDUSD Stablecoin Depegs 9% After Justin Sun Raises Concerns Over First Digital's Solvency‍
4. UAE Plans to Launch Digital Dirham CBDC, Integrated Wallet in Q4 2025‍
5. US Lawmaker Will Reintroduce Crypto Retirement Bill to Help Trump Agenda

Story Summaries;

1. Bill Ackman has called for a 90-day pause on U.S. tariffs, warning they could trigger an economic downturn. His plea follows Trump’s announcement of new tariffs, which have caused markets to panic, with Bitcoin dropping to $77,300 and Ethereum down 14%. Experts predict further declines in crypto prices.
2. Tether CEO Paolo Ardoino said the company is prepared for USDT to be banned in the U.S. due to new regulations and may create a U.S.-compliant stablecoin. Despite regulatory challenges, he believes USDT will remain listed on U.S. secondary markets but sees a future where USDT plays a smaller role in the U.S. and Europe as Tether adapts to global regulations.
3. Justin Sun warned users to withdraw funds from First Digital Trust, claiming the firm is insolvent after mismanaging nearly $500 million of TrueUSD reserves. This caused FDUSD to depeg by 9%, losing $130 million in market cap. First Digital denied the claims, stating FDUSD is fully backed by U.S. T-Bills. The issue could affect Binance, which holds $2.2 billion in FDUSD.
4. The UAE's Central Bank plans to launch the Digital Dirham CBDC between October and December, aiming to enhance transaction security, reduce costs, and boost financial inclusion. Backed 1:1 by the physical Dirham, it will use blockchain and smart contracts. The digital currency will be available through licensed financial institutions and can be used for various payments. The UAE joins countries like India and China in advancing CBDC development.
5. Senator Tommy Tuberville will reintroduce the "Financial Freedom Act" to allow cryptocurrency investments in retirement plans, after two failed attempts in 2022 and 2023. The bill aims to ease 401(k) investment regulations. Tuberville hopes to support President Trump's "crypto president" image, with bipartisan backing, including Senator Cynthia Lummis. The move aligns with ongoing crypto and stablecoin regulation debates in Congress.

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And that’s all for last week’s news! Wishing you a great week ahead!