Cryptocurrency Emerges Unscathed From Tariff Disputes

The past week was dominated by the ongoing tariff disputes. Initially, the tariffs led to a decline in both stock and cryptocurrency markets. However, with the pause in new non-China tariffs for 90 days, markets experienced a rebound. Bitcoin returned to its previous level of $82,000, prompting analysts to debate whether it exhibited 'safe haven' qualities similar to gold or if it was a risk-asset like others. The general consensus was that bitcoin demonstrated resilience rather than complete reassurance. Our Asia-based reporting team took the lead in covering the markets, with notable stories including the potential impact of the 'basis trade' unwinding on bitcoin prices, Kalshi's anticipated victory in its Nevada legal battle, and the first XRP ETF listing in the US. The European team provided timely analysis, including the significance of the US 10-Year Yield moving in the wrong direction for Trump and the resilience of the decentralized economy. Our coverage extended beyond tariffs and market reactions, with stories on Rootstock's preparation to release SDKs for Bitcoin Layer 2s and the repercussions of HyperLiquid's price manipulation exploit. Regulatory news also made headlines, with Paul Atkins' confirmation as the new SEC chair, the closure of the Department of Justice's crypto enforcement unit, the SEC's approval of ETH ETF options, and President Trump's decision to end a controversial DeFi accounting rule. The week underscored the growing importance of cryptocurrency in finance and macro-economics, setting the stage for interesting times ahead.