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Supreme Court trumps tariffs 👨‍⚖️

Supreme Court trumps tariffs 👨‍⚖️

The Supreme Court ruled against Trump's "emergency" tariffs Friday, giving a light boost to financial markets as the president plots next moves.

Andrew Hayward
February 20, 2026

📝 What you need to know

The Supreme Court dealt President Trump a serious blow Friday, ruling that his “emergency” trade tariffs—which rocked Bitcoin and financial markets last year—are illegal and beyond his authority.

Bitcoin and gold initially dipped following the news as traded digested the impact, but both ticked up soon after, with stock market indices also showing green for the day. Bitcoin was recently trading for just under $68,000.

In a press conference following the decision, President Trump blasted the six Supreme Court justices that voted in favor of the ruling, and said that he will impose a 10% “global tariff” and explore other measures to reinstitute tariffs on trading partners.

Bitcoin Rises After Supreme Court Rules Against Trump Tariffs

Bitcoin ticked up after the Supreme Court ruled that President Trump exceeded his authority in imposing most tariffs on foreign goods.

📰 In the News

After State Lawsuit Losing Streak, Kalshi Nabs Victory in Tennessee—This Could Be Why

States are scoring victories against prediction markets when they invoke congressional intent, said a legal expert—and losing when they focus on narrower legal definitions.

House Dems Raise National Security Alarms Over Trump Family’s Crypto Bank Charter Request

Lawmakers warned that approving World Liberty Financial's bank charter application could jeopardize the legitimacy of the U.S. banking system.

Bitcoin ETFs Lose Another $166M as Five-Week Withdrawals Near $4B

Bitcoin ETF outflows near $4 billion over the past five weeks, as experts debate whether the streak signals a reset or structural weakness.

📊 Myriad Market of the Day

Who leaves the Trump Administration first?

Trade "Who leaves the Trump Administration first?" on Myriad

💬 Quote of the Day

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“This is no longer just a debate about crypto chartering theory. It is about foreign ownership, national security, regulatory integrity, and whether our bank-chartering process is resilient to political and geopolitical pressure.”

House Democrats raise alarms about World Liberty’s bank charter application

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🕵🏻‍♀️ Editor’s Picks

AI in Hollywood? 'Silicon Valley' Star T.J. Miller Isn't Worried

“Silicon Valley” actor T.J. Miller joked that an AI bot “replaced” him as this week’s ETH Denver host, amid actual growing job fears.

South Korean Lawmakers Slam Regulators Over Bithumb's $43 Billion Bitcoin Blunder

Lawmakers in South Korea are intensifying scrutiny over the role of regulators after Bithumb accidentally gave out $43 billion in Bitcoin.

AMC Theatres Blocks AI Short Film From Screening in Pre-Show Advertising

The cinema chain has stepped back from screening an award-winning AI short while Hollywood battles over the technology’s creative role.

📚 Watch and Learn

📹️ WATCH: Base Breaks Up With Optimism, Crypto Up 3%, PUNCH Meme Up 200% as Monkey Goes Viral

🎓 LEARN: What Is Strategy (MSTR)? The Bitcoin Treasury Company

Software firm MicroStrategy and its co-founder Michael Saylor have become synonymous with Bitcoin. Here’s everything you need to know.

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