As traditional markets freak out over President Donald Trump’s tariffs, some crypto leaders see opportunities. According to Binance CEO Richard Teng, the chaos in global markets could end up driving long term demand for borderless, non-sovereign financial systems like Bitcoin. In a post on X (formerly Twitter) on April 8, Teng acknowledged the short term turmoil caused by Trump’s trade agenda but saw a bigger picture for the crypto ecosystem.
“Looking further ahead, though, this environment could also accelerate interest in crypto as a non-sovereign store of value,” Binance CEO Teng wrote.
His comments come as Bitcoin, the flagship digital currency, dropped $10,000 over the weekend and is now around $77,000 on Tuesday. The post resonated with seasoned investors who see crypto’s fundamental value proposition being validated by the current mess. As central banks and nation-states go back to protectionist and inflationary policies, the idea of an asset not tied to government decisions becomes more appealing.
Trump’s Trade War Rattles Markets, But Crypto Holds
Trump’s April 4 announcement of a 10% tariff on all imported goods has sent fear, uncertainty and turmoil around the world. Market indices in the US, China and Europe fell, with the Hong Kong Stock Exchange down 13%, the worst since the 1997 handover.
US equities were volatile and the S&P 500 futures went into bear territory, the longest streak of daily losses since the 2008 financial crisis. According to The Kobeissi Letter, the US stock market has lost an average of $400 billion a day for over a month.
Digital assets weren’t immune to the panic, with over $1.3 billion in crypto positions liquidated in 24 hours over the weekend. But despite the pullback, Bitcoin’s retracement has been relatively calm. It’s still at historical highs so investors still see it as a hedge even in the short term volatility.
A Test of Crypto’s Strength
Binance CEO Richard Teng said macroeconomic dislocations like this are what crypto was built for.
“Many long term holders still view Bitcoin and other digital assets as strong during economic stress and policy changes,” he said.
The perspective appears to be gaining traction. Officials say institutional interest in crypto is increasing, especially in regions with political or economic instability.
However, sources also report that trust in centralised financial systems might be declining, partly due to geopolitical overreach and inflationary monetary policy and assets like Bitcoin are becoming alternatives to fiat based systems.
Trump’s economic argument, delivered on Air Force One, was that the tariffs are “medicine” to fix decades of trade abuse.
“They took our businesses, they took our money, they took our jobs,” he said.
But that populist rhetoric has been slammed by economists and policymakers who say it will trigger a global recession.
Public Discontent Grows, Crypto Becomes a Refuge
According to a new Pew Research Center poll out Monday, most Americans disapprove of Trump’s protectionism. The numbers show a growing gap between the administration’s economic narrative and public opinion as inflation and employment pressures mount.
This could have big implications for crypto. If Trump’s trade policies lead to a loss of confidence in traditional assets, Binance CEO Richard Teng thinks this could trigger a new wave of crypto adoption, especially among retail investors who feel locked out of the system.
The decentralized nature of blockchain networks also has practical benefits. Unlike national currencies controlled by central banks and subject to inflation, cryptocurrencies are censorship resistant and globally accessible.
Expert View: Crypto in a Fragmenting World
Some say Trump’s economic nationalism is part of a bigger realignment where traditional structures are being questioned. In that world, assets like Bitcoin will benefit not just as speculation but as foundational alternatives in the next phase of finance.
Hayes, co-founder of BitMEX, said the same as reported in earlier reports, projecting Bitcoin dominance could reach 70% as investors sell out of altcoins and traditional equities. If foreigners have to juice up their own economies they could sell what they own, U.S. bonds and stocks to fund nation-first policies, he warned.
In this context, Richard Teng’s view has Binance and the entire crypto industry as ready to step into a new role: not just as a tech innovation hub but as a real-time hedge against political risk and macroeconomic instability.
Conclusion: Tariffs, Turmoil and the Turning Tide to Crypto
While Trump’s economic plan was meant to assert U.S. trade dominance, it’s also shown the fragility of the global economy. As stocks crash and fiat currencies wobble, the appeal of non-sovereign digital assets becomes more than theoretical.
For now, Bitcoin’s slight correction looks less like a vote of no confidence than a rebalancing. If Binance CEO Teng and other crypto leaders are right, this market is laying the groundwork for a long term realignment, one where blockchain based finance becomes the ballast in a world of growing geopolitical uncertainty.
FAQs
Why did Trump’s tariffs affect the crypto market?
Trump’s tariffs created economic uncertainty, which is a risk-off environment. While some investors will pull out of equities and crypto, others see crypto as a long term hedge.
What did Binance CEO Richard Teng say about crypto and tariffs?
Binance CEO Richard Teng thinks Trump’s tariffs will cause short term volatility but could accelerate long term interest in crypto as a non-sovereign, decentralized store of value.
How much did Bitcoin drop due to the latest economic turmoil?
Bitcoin dropped by over $10,000 this weekend to around $77,000, 2% from April 7.
What do people think about Trump’s tariffs?
According to Pew Research Center, most Americans disapprove of Trump’s tariff policy and are worried about the broader economic impact.
Will this boost crypto adoption?
If people lose faith in traditional systems, decentralized alternatives like crypto will see increased adoption as a hedge against policy driven instability.
Glossary
Tariffs – Taxes imposed by government on imports or exports between countries.
Risk-off – Market sentiment where investors move out of risky assets due to economic uncertainty.
Non-sovereign asset – An asset not controlled or issued by any central authority or government.
DeFi – Blockchain based finance that doesn’t rely on central financial intermediaries.
Macro uncertainty – Uncertainty that affects entire markets or sectors.
References
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