From Trade Wars to Bitcoin Wins!

Arthur Hayes believes that Trump's tariffs could positively impact Bitcoin's price.

Author

Danielle du Toit
April 04, 2025

Here's what we've got for you today:

  • Arthur Hayes Loves Tariffs as Printed Money Pain is Good for Bitcoin

  • Anti-CBDC Legislation Moves Forward as Privacy Concerns Mount

  • Coinbase Institutional Files for XRP Futures Trading with CFTC

  • Spot Bitcoin ETFs See Nearly $100 Million in Net Outflows as Stocks Tumble on Trump’s Tariff News

Arthur Hayes believes that tariffs will correct certain global imbalances, which could positively impact Bitcoin's price.

  • Arthur Hayes believes that Trump's global tariffs could benefit Bitcoin. The resulting economic disruption may lead to increased money printing, weakening fiat currencies like the US dollar.

  • The US Dollar Index (DXY) could decline further, with foreign investors selling off US assets and repatriating funds due to market uncertainty.

  • After the announcement, the Nasdaq 100 suffered its largest single-day point drop ever—which supported Hayes’ view that BTC and gold may gain as safe-haven assets.

The US House Financial Services Committee advanced a bill that aims to ban federal banks from issuing or using central bank digital currencies (CBDCs). 

  • The CBDC Anti-Surveillance State Act advanced in committee with a 27-22 vote on April 2.

  • The bill is sponsored by Rep. Tom Emmer, and has 114 cosponsors. It also has the support of major financial and policy groups like the American Bankers Association and the Blockchain Association.

  • Republican lawmakers lead the opposition to CBDCs due to concerns over financial privacy and potential surveillance by the Federal Reserve and Treasury.

Coinbase filed with the US Commodity Futures Trading Commission (CFTC) to launch futures contracts for Ripple’s XRP.

  • Coinbase Derivatives filed with the CFTC to self-certify XRP futures. The exchange wants to offer a regulated and capital-efficient way to trade XRP.

  • The futures contract, trading under the symbol XRL, will be monthly, cash-settled in USD, margined, and each contract will represent 10,000 XRP.

  • Safety mechanisms are in place, including a trading pause if XRP’s spot price moves over 10% in an hour.

Spot Bitcoin ETFs in the US saw $99.86 million leave the products on Thursday.

  • US spot Bitcoin ETFs saw $99.86 million in net outflows on Thursday, driven by market jitters after Trump’s sweeping tariff announcement.

  • Grayscale’s GBTC led the losses, followed by outflows from Bitwise, Fidelity, Ark/21Shares, VanEck, and WisdomTree’s Bitcoin funds.

  • BlackRock’s IBIT stood out as the only ETF to record net inflows, and attracted $65.25 million despite the broader market downturn.

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