Fundstrat’s head of research Tom Lee says that Monday’s pullback in stocks is a buying opportunity despite growing economic issues in the US economy.

In a new interview on CNBC Television, Lee says that even though Moody’s downgraded the US’s credit rating from AAA to AA1 on Friday due to soaring national debt, he remains bullish on equities for the time being.

“I don’t know if there’s much signal in the downgrade Friday, because I think the first triple A downgrade was a signal from 2011. I don’t think Moody’s had any information that we didn’t have on Friday afternoon. So I think markets should realize the bond market is largely priced in the fact that the US is really not triple A anymore. So I’d be viewing this as a buying opportunity.”

Lee says that while the country has an unsustainable debt challenge, Treasury bond auctions are not failing, indicating that investor confidence remains in the United States.

“I think everyone should be aware that the US has an unsustainable path for debt. But I think the real signal will be when an auction fails. That happened a few years ago, and then we realized that was the time to really pay attention to the fact that we have debt sustainability issues. But I think a downgrade itself, I don’t think it’s much of a signal.”

Lee also says that many investors caught off guard by the stock market recovery since April’s severe correction will likely now reenter the market after being left on the sidelines, sending stocks higher.

“I’m assuming [Monday’s] pullback is going to be really shallow – might even close positive, because most investors rage-sold at the bottom in April, and so as the markets climbed, a lot of people sort of doubted it, thought it was a rally that would fail, and so I think there’s $7 trillion in cash on the sidelines, enormous skepticism from our institutional clients, and a lot of folks sort of bet outside the US. So I think it’s going be a lot of chasing into year-end…

I think most people might be flat on their books, but if the market is above its 200-day, showing this sort of impulsive buying, and you’re flat, that means you’re underinvested.”

The post Fundstrat’s Tom Lee Says Stock Market Pullback a ‘Buying Opportunity’ Despite US Going Down Unsustainable Debt Path appeared first on The Daily Hodl.

China is reportedly urging the US to reverse its “discriminatory” measures following guidance from the Commerce Department that using Huawei’s Integrated Circuits (chips) could be interpreted as a violation of American export controls.

The guidance warned the public that using Huawei’s Ascend chips without authorization could result in substantial criminal and administrative penalties.

Chinese officials now say that the guidance undermines trade conversations in Geneva, Switzerland, earlier this month, Reuters reports.

Says the Chinese ministry,

“The U.S. has been abusing export control measures, imposing stricter restrictions on Chinese chip products under unfounded accusations… China firmly opposes this…

Trying to trip others won’t make oneself run faster.”

China also reportedly vowed resolute measures if the US continues to “substantially” harm its interests, according to Reuters.

China sold off billions of dollars worth of US Treasuries between February and March, according to new government data.

An update from the Treasury Department shows China’s US Treasury holdings dropped $18.9 billion in one month, while most other countries increased their holdings.

The data also shows that the UK has overtaken China and is now the second-biggest foreign holder of USTs in the world.

Macro investor Luke Gromen warns that the countries buying more USTs won’t be able to simultaneously buy more American-manufactured goods, further hurting America’s trade deficit that President Trump has promised to address.

Says Gromen,

“Foreign UST holdings rose $133 billion Mar vs. Feb.

UK, Caymans, and Canada were $86 billion of that $133 billion; China sold $19 billion.

UK surpassed China as the 2nd biggest US foreign creditor for 1st time ever in March.

Cayman Islands (pop. ~73,000) is now the fourth biggest US foreign creditor at $455 billion…

How are they going to buy both USTs and more goods from America going forward?”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

Generated Image: DALLE3

The post China Demands US ‘Immediately Correct Its Wrongdoings’ After Allegedly Undermining Geneva Trade Talks : Report appeared first on The Daily Hodl.

Bitcoin Magazine

Nebraska’s New Mining Rules: Infrastructure Safeguard or Soft Ban in Disguise?

Nebraska lawmakers have just passed Legislative Bill 526 (LB526), and while not explicitly anti-Bitcoin, its effects may be anything but neutral. With a unanimous 49-0 vote, the Legislature sent the bill to Governor Jim Pillen’s desk, where it’s expected to be signed into law. Supporters call it a commonsense infrastructure bill. Bitcoin miners call it a slow-motion exodus in the making.

On paper, LB526 is about large energy users. But in practice, it singles out Bitcoin mining facilities with one megawatt (MW) or greater loads and layers on operational constraints that look more like punishment than policy.

Cost Shifting, Public Shaming, and Curtailment

At the heart of LB526 is a mandate: miners must shoulder the costs of any infrastructure upgrades needed to support their demand. Utilities are empowered to demand direct payments or letters of credit after conducting a “load study.” And while the law pays lip service to “fairness” and non-discrimination, it’s clear who the target is. Bitcoin miners are the only industry named.

Further, mining operators must notify utilities in advance, submit to their interconnection requirements, and, critically, accept interruptible service. That means that when the grid gets tight, it’s miners who go dark first. Voluntary demand response, the hallmark of Bitcoin mining’s grid-friendly posture? Replaced with mandated curtailment and utility discretion.

And the kicker: public disclosure of energy consumption. Utilities must publish annual energy usage for each mining operation. No such requirement exists for other data-heavy sectors — not for cloud computing, not for AI clusters, not for Amazon data centers. Just Bitcoin. It’s not just surveillance, it’s signaling.

The Tax That Wasn’t, and the Costs That Remain

To its credit, the Legislature dropped an earlier provision that would’ve added a 2.5¢/kWh tax on mining. This punitive levy would’ve tacked 50% onto typical industrial rates. That tax would have been an open declaration of hostility. Removing it was necessary. But not sufficient.

Because what remains in LB526 is a less visible, but no less potent deterrent: uncertainty. Miners already operate on razor-thin margins and seek jurisdictions with predictable power costs and clear rules. Instead, Nebraska is offering infrastructure tolls, discretionary curtailment, and regulatory spotlighting.

The Market Responds: Warning Shots from Miners

Industry leaders didn’t stay silent. Marathon Digital Holdings, one of the largest publicly traded mining firms, testified that it had invested nearly $200 million in Nebraska and paid over $6.5 million in taxes, and warned that if LB526 passed, further expansion would likely be scrapped.

Their message was clear: Nebraska had been a pro-mining, pro-growth jurisdiction. But LB526 sends a signal that miners aren’t welcome, or at best, are second-class citizens in the energy economy. As one executive put it, “If the same rules don’t apply to other energy-intensive industries, this isn’t about infrastructure, it’s about discrimination.”

Others warned that mandatory curtailment replaces cooperative grid services with coercion. Bitcoin miners can, and do, offer real-time load shedding that stabilizes grids during peak demand. But that value proposition only works when there’s a market signal. LB526 turns it into a liability.

Politics, Power, and Public Utilities

Senator Mike Jacobson, the bill’s sponsor, insisted LB526 is agnostic toward Bitcoin. “This is about electricity usage,” he said. But that’s hard to square with a bill that surgically targets one user class.

Jacobson pointed to Kearney, where half the city’s power goes to a single mining facility. But rather than view that as an opportunity, a dispatchable industrial customer willing to scale up or down based on grid needs, the Legislature opted for risk aversion and central planning.

And in Nebraska’s public power model, that matters. With every utility publicly owned, the regulatory posture of the state isn’t advisory, it’s existential. There is no retail competition. If Nebraska’s power authorities begin treating Bitcoin miners like unreliable freeloaders rather than willing partners, miners have no recourse. Just the exit.

For now, LB526 awaits only the governor’s signature. Given that LB526 was introduced at the behest of the governor, it is likely to be signed. Once enacted, it will take effect October 1, 2025. Miners have until then to decide: adapt, relocate, or fold.

States like Texas, Wyoming, and North Dakota have gone the opposite direction, offering tax clarity, grid integration, and legal protection. Nebraska, once on that shortlist, may find itself dropping off the radar.

Bitcoin mining doesn’t need handouts. But it does need equal footing. LB526 imposes costs, limits flexibility, and broadcasts suspicion. If the goal was to balance innovation with infrastructure, the execution leaves much to be desired.

Because when one industry is burdened while others are exempted, when voluntary partnerships are replaced with mandates, and when operational data is made public for no clear reason, it’s not hard to see why miners view LB526 not as regulation, but as retaliation.

This is a guest post by Colin Crossman. Opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.

This post Nebraska’s New Mining Rules: Infrastructure Safeguard or Soft Ban in Disguise? first appeared on Bitcoin Magazine and is written by Colin Crossman.

A widely followed market analyst is sounding the alarm about the surging number of large US companies going bankrupt this year.

Citing data from S&P Global Market Intelligence, Adam Kobeissi, the founder and editor-in-chief of The Kobeissi Letter, tells his 898,600 followers on the social media platform X that 246 large US firms have gone bankrupt year-to-date, the highest number in 15 years.

According to Kobeissi, dozens of big companies filed for bankruptcy just last month amid the peak of President Trump’s trade war.

“[246] is up from 206 recorded last year and more than DOUBLE during the same period in 2022.

In April alone, the US saw 59 bankruptcy filings as tariffs ramped up.

So far this year, the industrials sector has seen 41 bankruptcies, followed by 31 in consumer discretionary, and 17 in healthcare.

According to S&P Global, consumer discretionary companies have been hit the hardest due to market volatility, tariffs, and inflation uncertainty.

We expect a surge in bankruptcies in 2025.”

The wave of bankruptcies appears to coincide with a decline in consumer sentiment.

Kobeissi says the data suggests that American consumers are becoming increasingly concerned about the economy.

“US consumer sentiment is getting even worse:

The Consumer Sentiment index declined 1.4 points, to 52.2, the second-lowest reading in the history of the survey.

This is even lower than 2008 and the 1980s recession.

Current conditions fell 2.2 points, to 57.6, the second-weakest level on record.

Concerningly, consumer expectations decreased 0.8 points, to 46.5, the lowest in 45 years.

This survey took place between April 22 and May 13, concluding 2 days after the US-China trade deal.

Americans have rarely been this pessimistic about the economy.” 

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

Generated Image: Midjourney

The post Large US Companies Witness Highest Number of Bankruptcy Filings in 15 Years Amid Souring Consumer Sentiment, According to Analyst appeared first on The Daily Hodl.