The crypto world is on edge as major political and financial moves threaten to shake up the market. From Trump’s “Liberation Day” tariffs to a stablecoin crisis triggered by Justin Sun, here’s everything you need to know.
Trump’s ‘Liberation Day’ Tariffs: A Storm for Crypto?
Today marks what some are calling “Liberation Day,” as President Trump is set to announce new tariffs, including reciprocal tariffs, which could have massive implications for the global economy.
Bitcoin (BTC) has already taken a hit, dropping 2.68% over the past week as investors brace for impact. Analysts warn that:
- Tariff announcements will likely cause major market swings.
- Bitcoin could stay locked between $75,000 and $88,000 for April.
- More volatility is expected as the U.S. jobs report comes out later this week.
- Long-term hope? The U.S. Strategic Bitcoin Reserve (SBR) could bring a surprise boost, with reports on its development due by April 5.
While uncertainty looms, crypto traders are keeping a close watch on Trump’s moves and how they might affect market trends.
FDUSD Stablecoin in Trouble After Justin Sun’s Warning
A sudden panic hit the stablecoin market after Tron founder Justin Sun advised users to withdraw funds from First Digital Trust (FDT), the issuer of FDUSD stablecoin. Sun claimed the firm is insolvent and unable to process redemptions.
Immediately after his statement, FDUSD lost 9% of its value, wiping out millions before slightly recovering. This all comes after a lawsuit accused First Digital’s CEO of mismanaging nearly $500 million in TrueUSD reserves. While First Digital denies the allegations, the controversy has sparked major concerns about stablecoin security.
Elon Musk vs. The IRS: Coinbase Users’ Data at Risk?
Elon Musk’s social media platform X (formerly Twitter) has taken a stand against the IRS, urging the U.S. Supreme Court to block the agency from accessing Coinbase users’ data without a warrant.
The IRS had issued “suspicionless” subpoenas, demanding three years’ worth of transaction records from over 14,000 Coinbase users. Now, Musk and a coalition of privacy advocates are fighting back, claiming it’s a violation of user rights.
The Supreme Court has requested a response from the federal government, making this a major legal battle to watch.
Ripple’s Stablecoin Expands as Market Cap Nears $250M
Ripple’s stablecoin, RLUSD, has officially launched on Kraken, boosting its market cap close to $250 million since its December debut. Ripple is now integrating RLUSD into its payments platform, working with partners like BKK Forex and iSend to enhance cross-border transactions.
While Tether (USDT) remains the dominant force in the $277 billion stablecoin market, Ripple’s steady growth shows that competition is heating up.
Crypto’s Biggest Bug Bounty Ever: $16 Million Up for Grabs
In a historic move, decentralized stablecoin project Usual has teamed up with security firm Sherlock to offer $16 million in rewards for finding critical bugs in its protocol.
This makes it the largest crypto bug bounty program ever, surpassing previous records held by Uniswap ($15.5M), LayerZero Labs ($15M), and Wormhole ($10M). Developers and security researchers now have the chance to cash in big—if they can spot major vulnerabilities before hackers do.
Final Thoughts: The Crypto Rollercoaster Continues
With Trump’s tariffs, a stablecoin shake-up, legal battles over privacy, and major crypto developments, the market is in for a wild ride. Investors should stay alert, as unexpected turns could bring both risks and opportunities in the coming weeks.
Stay tuned for more updates as the crypto landscape evolves!
