CoinDesk Podcast Network COINDESK DAILY: Trump Slaps 145% Tariffs Against China, Bitcoin Tumbles
Apr 10, 2025
The podcast dives into the chaos caused by President Trump's staggering 145% tariffs on China, triggering a significant plunge in Bitcoin prices. Discussion shifts to the appointment of Paul Atkins as the new chairman of the SEC, raising hopes for a more crypto-friendly regulatory environment. Additionally, Pakistan's ambitious plan to leverage 10,000 megawatts of surplus energy for Bitcoin mining showcases innovative strategies in the global crypto landscape.
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Trade Tensions and Bitcoin
- Bitcoin dipped below $80,000 as US stocks fell and Trump increased tariffs on China to 145%.
- Grayscale suggests this trade tension could boost Bitcoin adoption, potentially challenging the US dollar's dominance.
New SEC Chair
- Paul Atkins, known for pro-crypto views, has been confirmed as the new SEC chair.
- His appointment is expected to support crypto-friendly policies within the commission.
Pakistan's Bitcoin Mining Plans
- Pakistan plans to use surplus electricity, up to 10,000 megawatts, for Bitcoin mining and AI data centers.
- This move follows Changpeng Zhao's appointment as an advisor to the Pakistan Crypto Council.