Binance Report: Trade War Wipes Out $1 Trillion in Crypto as Bitcoin Mirrors Risk Assets
The escalating US trade war has triggered a massive sell-off in both cryptocurrency and traditional markets, with Bitcoin behaving like a risk asset rather than a safe haven. According to Binance’s latest analysis, the crypto market cap has plummeted by $1 trillion as investors flee to gold amid heightened volatility. The Trump administration’s sweeping 10% tariff announcement has further rattled markets, creating parallel declines in crypto and equities. This report examines how macroeconomic tensions are reshaping digital asset valuations as of April 2025.
Binance: Trade War Erases $1 Trillion in Crypto, Bitcoin Acts Like Risk Asset
The escalating trade war between the US and other countries has hit both Bitcoin (BTC) and stocks. Traders are reassessing risk assets and turning to gold, causing the crypto market cap to lose $1 trillion. According to the latest Binance report, escalating US tariffs are spiking fears in both the crypto and stock markets. The Donald Trump administration has announced a 10% blanket tariff on all countries, effective April 5, with higher rates for several jurisdictions, including a 34% tariff on China, a 20% tariff on the EU, and a 24% tariff on Japan. These tariffs have pushed average US tariffs to 18.8%, the highest level since the Smoot-Hawley Tariff Act.
Binance Boosts Web3 Access with Apple Pay & Google Pay Integration
Binance has expanded its Web3 efforts by partnering with Worldpay to integrate Apple Pay and Google Pay services. This strategic integration allows users to purchase cryptocurrencies directly through their credit or debit cards linked to these payment methods. The move aims to enhance the accessibility and convenience of crypto transactions and streamline Binance’s fiat-to-crypto transactions. With this integration, Binance has simplified access to the crypto market by implementing common payment methods. Additionally, Binance has expanded its fiat coverage to over 125 currencies and 20+ countries, further facilitating global user access to crypto.
