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A historic moment just hit the American economy, but it's not something to be proud of. The Consumer Confidence Index from the University of Michigan recorded its lowest level in 74 years in April, dropping to just 47.6 points.

This number isn't just any figure. It's more pessimistic than what we saw during the 2008 crash, and deeper than the lockdowns from the Corona pandemic.

The federal regulator has been suing states that seek to curtail prediction markets activity and claim it should be deemed state-regulated gaming.
What to know:
The U.S. derivatives regulator, the Commodity Futures Trading Commission, just added New York to its growing list of states it's suing to counter their own legal pursuit of the prediction markets industry.New York moved earlier this week to target platforms run by Coinbase and Gemini, so the CFTC is again suing to insist that the federal agency is the proper regulator of such businesses, not the states.
The U.S. Commodity Futures Trading Commission sued New York on Friday in its latest action to shield what the agency has argued is its unassailable nationwide regulatory authority over prediction market firms.
Earlier this week, New York sued Coinbase and Gemini, arguing that their prediction market contracts violated state gambling laws. And last year, the state had similarly targeted Kalshi, demanding it cease its sports wagering platform.
The CFTC, in its role as the federal derivatives regulator, has staked out a position that the states have no business interfering with those firms. The agency's suit in the U.S. District Court for the Southern District of New York argues that federal law "designates the CFTC as the federal agency with 'exclusive jurisdiction' over the regulation of commodity futures, options, and swaps traded on federally regulated exchanges," and that includes these CFTC-registered designated contract markets. State law is effectively preempted, according to the synchronized positions of the regulator and the growing industry it's seeking to protect.
But also on Friday, 37 state attorneys general — including New York Attorney General Letitia James — signed onto a legal brief in one of the Kalshi legal fights in Massachusetts to argue that "Kalshi’s aggressive theory of preemption threatens the States’ longstanding ability to protect their citizens in this area."
CFTC Chairman Mike Selig has made this one of his most prominent initiatives since taking over the agency four months ago, and his agency has similarly sued Arizona, Connecticut and Illinois, claiming event contracts are derivatives instruments within federal jurisdiction.
"CFTC-registered exchanges have faced an onslaught of state lawsuits seeking to limit Americans’ access to event contracts and undermine the CFTC’s sole regulatory jurisdiction over prediction markets," he said in a statement.
In their own statement later Friday, James and New York Governor Kathy Hochul said they were enforcing state laws on gambling.

“Once again, this administration is prioritizing big corporations over consumers and New Yorkers’ best interests. New York’s gambling laws are designed to protect consumers, whether they are placing bets in a prediction market or a casino. When gambling platforms, including prediction markets, violate our laws, we will not hesitate to hold them accountable. We look forward to continuing to defend our laws in court.”
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The U.S. Department of Justice (DOJ) has seized over $700 million in crypto assets and filed conspiracy charges for bank fraud against Chinese nationals allegedly running fraudulent schemes.
$USDC #usa <#>#htnol

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In the largest freeze of crypto linked to Iran since the current escalation began, the U.S. Treasury, in collaboration with Tether, announced the freezing of $344 million in USDT across addresses on the Tron network.

🔍 Chain evidence: What did the wallets reveal?
Chainalysis and TRM Labs have uncovered a suspicious correlation between the patterns of frozen wallet movements and addresses linked to Iran.

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In a bold move reflecting the depth of the tech war between the superpowers, China's National Development and Reform Commission (NDRC) issued a shocking directive to three of its major tech giants: they are to refrain from accepting any capital from the United States without prior government approval.

🎯 Who's the target audience?
1. ByteDance - TikTok: