Crypto exchange KuCoin has announced the official launch of its fully licensed Thailand platform as a part of its global expansion. According to an April 23 announcement, the new platform will operate under ERX Company Limited, which recently received a…

KuCoin debuts in Thailand with full regulatory approval

This content is provided by a sponsor. PRESS RELEASE. April 23, 2025 – Geneva, 
Switzerland – TRON DAO today announced that the total circulating supply of 
Tether ( USDT) on the TRON blockchain has exceeded $70 billion. This 
achievement reflects growing user demand for cost-efficient, high-speed 
blockchain-based solutions, particularly in emerging markets and cross-border 
transactions. […]

TRON Network Surpasses $70 Billion in Circulating USDT

Analysts are criticizing the financial implications of US President Donald 
Trump&#8217;s import tariffs, a development that some say highlights Bitcoin&#8217;s 
unique economic properties during times of global uncertainty.
Trump&#8217;s 90-day pause on higher reciprocal tariffs, reverting them to a 10% 
baseline for most countries except China, has exposed vulnerabilities in the 
US bond market, according to critics.
Economist and author of _The Bitcoin Standard_ , Saifedean Ammous, said 
Trump&#8217;s decision to reverse the higher tariffs was likely a reaction to rising 
bond yields, suggesting the administration&#8217;s hand was forced.
&#8220;Trump fought the bond market and the bond market won,&#8221; Ammous said in an 
April 23 X post. &#8220;The gambit seemed to work for the first day, and the huge 
crash in the stock market was presented as a small price to pay for fiscal 
sustainability.&#8221;
&#8220;But then the bonds began to crash, and it became clear how disastrous the 
tariffs were, and how wrong it was to expect that deliberately crashing the 
stock market would boost the bond market,&#8221; he added.
_Source: Saifedean_ _Ammous_
 _**Related:**__**Trump &#8216;s tariff escalation exposes &#8216;deeper fractures&#8217; in 
global financial system**_
## Treasury yields spike after tariff move
Following Trump&#8217;s tariff announcement, the 10-year Treasury yield surged from 
under 4% to 4.5%, CNBC data shows, amid a sell-off driven by inflation and 
recession concerns.
_10-year bond yield, 1-year chart. Source: CNBC_
&#8220;The rise in yields was the exact opposite of what the administration wanted, 
and reversing course on the tariffs half a day after they go into effect was 
absolutely devastating for Trump&#8217;s negotiating position,&#8221; Ammous said.
Some analysts, including Global Macro Investor founder Raoul Pal, have 
suggested the tariff maneuvering may only be &#8220;posturing&#8221; for the US to reach a 
trade agreement with China.
&#8220;All of the talk about China buckling under the threat of Trump now sounds 
hilarious in retrospect, when Trump could not keep his tariffs in place for 2 
days,&#8221; Ammous said, adding that China &#8220;showed absolutely no inclination&#8221; to 
reach out and strike a deal.
Delays in reaching a trade agreement may limit the recovery of both equity and 
cryptocurrency markets, which hinge on the outcomes of the trade negotiations, 
according to Nansen analysts.
Meanwhile, Bitcoin (BTC) is acting &#8220;less like a tech stock and more like a 
hedge against economic uncertainty,&#8221; after Trump signaled a &#8220;substantial 
reduction in tariffs on Chinese goods,&#8221; Nexo dispatch analyst Iliya Kalchev 
told Cointelegraph.
_**Related:**__**Crypto, stocks enter &#8216;new phase of trade war&#8217; as US-China 
tensions rise**_
## Trade wars reignite the need for a Bitcoin standard
The situation has revived long-standing proposals to back the US dollar with 
Bitcoin.
Ammous said the US should keep buying BTC until the government holds enough to 
fully back the dollar supply, ultimately switching to a Bitcoin standard:
&gt; &#8220;Keep buying bitcoin until the value of the bitcoin held by the US 
&gt; government is enough to back the entire US dollar supply, then go on a 
&gt; bitcoin standard where dollars are redeemable for bitcoin, and have the 
&gt; government never spend more than it earns.&#8221;
Historically, the dollar was backed by gold and redeemable for a fixed amount 
of the precious metal until 1933, when US President Franklin D. Roosevelt 
suspended gold convertibility in response to the Great Depression.
In 1971, President Richard Nixon halted the dollar&#8217;s convertibility into gold, 
aiming to protect the US gold reserves and to stabilize the economy, marking 
the beginning of the fiat currency system, which remains in place today.
Bitcoin&#8217;s fixed supply, which is hard-coded in its tokenomics, makes it a 
popular digital competitor to gold.
Joe Burnett, director of market research at Unchained, predicted that Bitcoin 
may rival or surpass gold&#8217;s market capitalization in the next decade, 
projecting the Bitcoin price will surpass $1.8 million by 2035.
_**Magazine:**__**Bitcoin ATH sooner than expected? XRP may drop 40%, and 
more: Hodler &#8216;s Digest, March 23-29**_

Trump fought the bond market, and the bond market won: Saifedean Ammous

South Korean exchange Upbit has announced that it will suspend deposits for 
SNX, following a recent trade warning from the Digital Asset Exchange 
Alliance. According to a recent notice from the crypto exchange, the Synthetix 
(SNX) token has been labeled…

Upbit suspends deposit on SNX after DAXA issues warning on April 24

Onyxcoin has surged over 10% as it tests the resistance from its 200%+ rally 
earlier this month — could another parabolic breakout be on the horizon? 
Onyxcoin (XCN) is up 10% over the past 24 hours, currently trading around 
$0.020,…

Onyxcoin price surges 10% – is another 200%+ breakout in play?

The publicly traded firm formerly known as Janover, DeFi Development 
Corporation (Nasdaq: JNVR), has announced the appointment of Fei “John” Han as 
Chief Financial Officer and Dan Kang as Head of Investor Relations, enhancing 
its financial leadership team as it scales its crypto-focused treasury 
strategy. Han, who brings over 15 years of experience from notable […]