Crypto Morning News: U.S. temporarily reduces tariffs on countries outside China to 10%, BTC breaks through $80,000
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Crypto Morning News: U.S. temporarily reduces tariffs on countries outside China to 10%, BTC breaks through $80,000
The U.S. Senate confirmed Paul Atkins as SEC Chair.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. President Trump announces increase in tariffs on China to 125%, while temporarily reducing tariffs on other countries to 10%
U.S. President Donald Trump announced that tariffs imposed by the United States on China will be raised to 125%, effective immediately.
At the same time, considering that over 75 nations have contacted U.S. representatives—including officials from the Department of Commerce, Treasury, and Office of the U.S. Trade Representative—to discuss trade and tariff-related matters, President Trump has authorized a 90-day suspension of tariff enforcement during this period, along with significantly reduced reciprocal tariffs set at 10%, also effective immediately.
China’s State Council raises retaliatory tariffs on U.S. imports from 34% to 84%, effective April 10
The Tariff Commission of China’s State Council announced an adjustment to its previously issued notice regarding additional tariffs on imported goods originating from the United States, raising the rate from 34% to 84%, effective at 12:01 a.m. on April 10.
China’s Ministry of Culture and Tourism issues travel risk advisory for Chinese tourists planning trips to the U.S.
China’s Ministry of Culture and Tourism has issued a travel risk advisory: "Recently, due to deteriorating China-U.S. economic and trade relations and domestic security conditions within the United States, the ministry advises Chinese travelers to fully assess the risks associated with traveling to the U.S. and to proceed with caution."
U.S. Senate confirms Paul Atkins as new SEC Chair
According to The Block, on April 9, the U.S. Senate confirmed Paul Atkins as Chairman of the Securities and Exchange Commission (SEC) by a vote of 52 to 44. Atkins previously served as an SEC commissioner between 2002 and 2008 under a nomination by President Trump. He has clearly stated that establishing a regulatory framework for digital assets will be his “top priority,” signaling a significant shift in the SEC’s stance toward cryptocurrency regulation.
Minneapolis Fed President Kashkari: Tariffs raise bar for rate cuts
According to Jinshi Data, Minneapolis Federal Reserve President Neel Kashkari said that given the impact of tariffs on inflation, the Fed is unlikely to cut interest rates even if the economy begins to weaken. Kashkari described Trump’s tariffs as “much higher and broader than expected,” predicting they would reduce investment and economic growth and push up inflation “at least in the short term.”
Kashkari wrote: “The hurdle to change interest rates in any way has increased because of the tariffs. Given the importance of keeping long-term inflation expectations stable, and the fact that tariffs may boost near-term inflation, the threshold for cutting rates is higher—even amid economic weakness and potentially rising unemployment.”
He noted that recent indicators of inflation expectations have already started to rise, and pointed to America’s experience with high inflation in recent years as reasons why the Fed cannot ignore price shocks driven by tariffs. “Given our experience with high inflation in recent years and the risk of unanchored long-term inflation expectations, I believe our top priority must be maintaining stability in long-term inflation expectations,” he said.
Strategy did not indicate plans to sell Bitcoin—this was merely routine risk disclosure
A rumor circulating on X suggesting that Strategy (formerly MicroStrategy) might be forced to sell its Bitcoin holdings gained widespread attention. The claim stated that according to an 8-K filing submitted to the SEC on April 7, if Bitcoin prices continue to fall, the company could be compelled to liquidate its Bitcoin holdings to repay debt, breaking Michael Saylor’s promise to “never sell Bitcoin.”
TechFlow has verified that this interpretation is misleading. The phrase “may be required to sell Bitcoin” mentioned in Strategy’s 8-K form is actually a standardized risk disclosure clause, not an indication of actual intent or imminent action.
Such risk disclosures are extremely common in financial reports filed by public companies, especially those holding large amounts of specific assets. In fact, this wording is not new—it has appeared in multiple prior quarterly filings by Strategy. The exact same risk warning language was already present in its Q1 2024 filing.
21Shares launches 21Shares Dogecoin ETP on Swiss SIX Exchange
According to Globenewswire, 21Shares announced the launch of the 21Shares Dogecoin ETP on the Swiss Stock Exchange (SIX), with the ticker symbol DOGE.
Mastercard partners with Kraken
According to Financefeeds, Mastercard and cryptocurrency exchange Kraken announced a partnership on April 9, 2025, aiming to extend crypto payment services to more than 150 million merchants worldwide that accept Mastercard. Under the collaboration, Kraken users will be able to use their Bitcoin, Ethereum, and other crypto assets for payments via physical and digital debit cards, with cryptocurrencies converted into fiat currency in real-time at the point of sale.
Kraken previously launched its Kraken Pay feature, enabling users to send both crypto and fiat globally using a “Kraktag” identifier. The company has obtained an Electronic Money Institution license from the UK Financial Conduct Authority (FCA), providing a regulatory foundation for its operations in Europe.
David Ripley, Co-CEO of Kraken, stated that the partnership aims to expand practical use cases for cryptocurrencies. The service is expected to launch later this year in the UK and EU markets, with potential expansion to other regions thereafter.
OKX lists BABY (Babylon) spot trading and delivers pre-market futures contracts for BABY
Per official announcement, OKX has listed spot trading for BABY (Babylon) and delivered pre-market futures contracts for BABY.
Listings schedule:
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BABY deposit opening time: 8:00 PM, April 9 (UTC+8)
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BABY auction period: 5:15 PM – 6:15 PM, April 10 (UTC+8)
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BABY/USDT spot trading goes live: 6:15 PM, April 10 (UTC+8)
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BABY withdrawal availability: 6:00 PM, April 11 (UTC+8)
European regulators warn crypto could threaten financial stability
According to Cointelegraph, Natasha Cazenave, Executive Director of the European Securities and Markets Authority (ESMA), told the Committee on Economic and Monetary Affairs on April 8 that as the crypto industry grows and becomes increasingly interconnected with traditional financial institutions, sharp declines in crypto prices could trigger cascading effects across the broader financial system. While crypto assets currently represent only 1% of global financial assets and do not yet pose a major “spillover risk,” their rapid development—particularly in crypto-friendly U.S. markets—is concerning. The EU has implemented the Markets in Crypto-Assets Regulation (MiCA) to address these risks, but Cazenave emphasized there is “no such thing as a safe crypto asset” and suggested further regulations may be needed to mitigate future threats. Currently, about 10%-20% of European investors hold crypto assets, while 95% of European banks remain uninvolved.
Argentina Congress passes proposal to investigate officials linked to Libra crypto scandal
According to The Block, Argentina’s lower house has approved three draft resolutions to investigate government officials connected to the Libra cryptocurrency scandal, including President Javier Milei’s involvement. In February, after Milei publicly endorsed the Libra project built on Solana via social media, the token’s market value surged rapidly to $2 billion before crashing over 90%, causing severe investor losses.
The investigation will include forming a special committee, summoning several senior officials—including the Chief of Staff and Minister of Economy—and requiring the government to submit relevant reports. After the crash, Milei retracted his support, claiming he was unaware of the project details, but now faces impeachment and fraud allegations.
The CEO of Kelsier Ventures, developer of the Libra project, admitted to close coordination with Milei’s team and acknowledged using a “sniping” strategy to manipulate the token’s price at launch. Argentine prosecutors have requested Interpol issue a red notice for the CEO.
Market Update
Suggested Reading
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After Financial Markets Are Wiped Out, How Do Wall Street Titans View Trump’s Tariff Policy?
This article focuses on the Trump administration’s tariff policy, examining its impact on global financial markets and reactions from Wall Street leaders. It points out that Trump’s aggressive tariff measures triggered severe market volatility, stock market declines, and heightened economic uncertainty. While some supporters believe the policy could yield long-term benefits, many financial giants have strongly criticized it, calling it reckless and potentially recession-inducing. The article also analyzes the potential implications of the tariff policy for the cryptocurrency market.
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Trump’s Tariff Policy Is Now Impacting the Bitcoin Mining Industry
This article discusses how Trump’s new tariff policy is significantly affecting the Bitcoin mining sector. Import costs for mining equipment have sharply increased, potentially shrinking the U.S. market share and slowing global hash rate growth. Although the short-term outlook appears bleak, in the long run, the U.S. mining industry may still find opportunities to grow by adapting to policy changes and shifting toward local production.
With No Game Tokens Left Among Top 100 Cryptos by Market Cap, It’s Time to Reconsider the Narrative
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