1 day ago
Tariffs, tariffs, tariffs.
Trump’s on-again, off-again import levies dominated the week. At the beginning, tariffs sent stocks and crypto appreciably lower. By the end, with each caller non-China tariffs paused for 90 days, markets were up again.
Bitcoin returned to a level ($82,000) that it was astatine this clip past week. And analysts debated whether, successful the panic of the erstwhile days, it showed “safe haven” qualities (like gold) oregon whether it was a risk-asset similar galore others. The statement was that bitcoin performed resiliently alternatively than wholly reassuringly.
Our Asia reporting squad led the mode connected our markets coverage. Omkar Godbole started the week beardown by revealing how the unwinding of the "basis trade" could interaction bitcoin price. Sam Reynolds wrote connected however Kalshi was acceptable to triumph its ineligible conflict successful Nevada, hours earlier the prediction marketplace got its archetypal triumph successful the state. Shaurya Malwa reported connected the archetypal XRP ETF listing successful the U.S. and however Teucrium's leveraged money received $5m during its archetypal time of trading.
From our European team, determination was immoderate timely investigation from James Van Straten, and the All-Important U.S. 10-Year Yield Moving successful the Wrong Direction for Trump, and a communicative showing the resilience of the decentralized system from Oliver Knight, How DeFi 'Defied' Market Carnage arsenic Traders Poured Millions Amid Panic. Our sum expanded beyond conscionable tariffs and marketplace reactions, with Jamie Crawley's scoop, Rootstock Prepares to Release SDKs for Bitcoin Layer 2s Using BitVMX aft helium took the accidental offered by an embargoed property merchandise to telephone the institution and interrogation the founder. And determination was a bully DeFi follow-up connected the repercussions of HyperLiquid's terms manipulation exploit from March by Oliver, How the Hype for HyperLiquid's Vault Evaporated connected Concerns Over Centralization.
Meanwhile, determination was tons of quality that wasn’t tariff-related.
Paul Atkins was confirmed arsenic the caller SEC chair. The Department of Justice closed down its crypto enforcement unit, prompting criticism, from Democrats and others, that it’s not superior astir combating malfeasance. The SEC approved ETH ETF options, pursuing a agelong delay. And President Trump enactment an extremity to a controversial DeFi accounting rule.
It was a week that showed however crypto was progressively cardinal to concern and adjacent macro-economics. Fun times are ahead.
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