As traditional markets reel from the impact of U.S. President Donald Trump’s sweeping tariff policies, crypto leaders see a silver lining. Binance CEO Richard Teng believes the current economic turbulence might actually accelerate interest in digital assets.
Teng Sees Long-Term Opportunity in Market Uncertainty
In a post shared on X (formerly Twitter) on April 8, Teng addressed the uncertainty sparked by Trump’s global tariff rollout.
“While this environment may prompt a short-term risk-off reaction,” he wrote, “it could also accelerate interest in crypto as a non-sovereign store of value.”
Teng added that many long-term crypto holders still view Bitcoin and other digital assets as resilient assets, especially during periods of economic stress and shifting policy landscapes.
Crypto Market Faces Short-Term Volatility
Teng acknowledged the short-term impact of Trump’s new tariffs, which placed a minimum 10% levy on goods from nearly every country. The announcement rattled global markets and sent the U.S. stock market into a tailspin.
Crypto didn’t escape unscathed. Bitcoin lost over $10,000 in value over the weekend, dropping sharply before stabilizing. As of Tuesday, Bitcoin hovered around $77,000, down about 2% from the previous day.
Trump Defends Tariffs as Economic “Medicine”
Speaking to reporters aboard Air Force One on Monday, Trump described the tariffs as a necessary remedy for a long-standing economic imbalance.
“We’ve been treated so badly by other countries,” he said. “They took our businesses, they took our money, they took our jobs.”
Despite his defense, the backlash has been swift. A new Pew Research Center poll shows that most Americans disapprove of the new tariff policy, citing concerns over inflation and economic disruption.
Could Crypto Benefit as Traditional Markets Struggle?
While traditional markets absorb the shock, some in the crypto space see a growing interest in decentralized, non-sovereign alternatives. Teng’s remarks reflect a broader narrative within the industry: economic instability may drive people toward Bitcoin and other digital assets as hedges against fiat volatility.
As global trade tensions rise, all eyes are now on how markets—and everyday investors—will respond.
Whether Trump’s tariffs truly serve as a turning point for crypto adoption remains to be seen, but Teng’s optimism signals the sector is ready to seize the moment.
