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The Kobeissi Letter
The Kobeissi Letter|4月 23, 2025 11:40
Retail investors were just cheated: Yesterday at 12:00 PM ET, US Treasury Secretary Bessent said he sees "de-escalation with China" and the current situation is "unsustainable." These comments were provided at a CLOSED-DOOR investor summit hosted by JP Morgan. This summit was not open to the public or to the media. Then, at 5:18 PM ET, President Trump said tariffs on China "will not be as high as 145%." Bessent effectively told a closed-group of Wall Street investors that de-escalation with China was coming BEFORE the public knew. The result was a move of +5% in S&P 500 futures, for a total of +2.2 TRILLION of market cap. Investors at the JP Morgan event were able to front-run these headlines. How is this fair for retail investors?
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Timeline

5月 23, 11:29【The US stock of Apple fell more than 4% before the market opened】
5月 23, 10:40【Bitcoin transaction fees have risen by over 50% this week】
5月 23, 10:26【Bitcoin transaction fees have risen by over 50% this week】
5月 23, 09:58【BTC's big pie continues to rise, ETH approaches $2700】
5月 23, 09:51【HYPE rises 15%, outperforming the cryptocurrency market】
5月 23, 09:44【SOON will also be available on Upbit and Bithumb next】
5月 23, 09:33【Bitcoin buyers' dominant position at 111K marks strong demand】
5月 23, 09:10【Big cake stabilizes above 110000 yuan for 3 days, and altcoins explode】
5月 23, 08:44【BTC price at $110800, market confidence skyrockets】
5月 23, 08:39【The Federal Reserve says it may cut interest rates】

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