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Crypto volumes have plunged from a post-Trump election surge of $126 billion to a mere $35 billion. Tech stocks remain sluggish compared to their former highs, even as the dollar hits a decade low. Venture capital feels like it’s collectively holding its breath, with top Silicon Valley firms pivoting their business models. This isn’t a collapse — far from it. It’s a rare, fragile pause. A “wait and see” moment of equilibrium that, like all market pauses, likely won’t last.
Behind the headlines, a far bigger story is unfolding. The United States and China have quietly reopened high-level trade talks aimed