Sometimes the difference between security and compromise comes down to a single click – and a healthy dose of suspicion. And it’s because scammers are getting increasingly sophisticated with their phishing attempts. It’s to the point where even following standard security best practices isn’t enough to protect you. Case in point: last week’s near-successful phishing attack on Zach Latta.
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Crypto Market Rallies over 5% As Trump Pauses All Tariffs Except China
Donald Trump announced today that he’s instituting a 90-day pause on all tariffs except those on China. Bitcoin has surged over $80,000, while altcoins like XRP, Solana, and Cardano surged more than 10% in just minutes of the announcement.
The Dow Jones and stock market reacted similarly, surging by 2,000 points after the news. The US President has now added a total of 125% tariff on China, while pausing others.
Trump Reverses Tariff Plan
Since Donald Trump has made huge tariffs a cornerstone of his financial policy, the markets have reacted with massive uncertainty. For example, over $1 billion was liquidated from crypto markets this Monday, and false rumors of possible relief triggered more than $1 trillion in market gains.
In other words, the markets were very pessimistic that tariffs would cause a US recession. When Trump implemented 104% tariffs on China last night, crypto fell, and it fell again when China retaliated this morning.
Today, however, Trump has made a surprising reversal. Although he is increasing tariffs against China to 125%, he is repealing those on other nations.
This news immediately caused a substantial rally in the markets. At 1:30 PM Eastern Time, the Dow Jones responded by shooting upwards over 2000 points, and this was mirrored in other high-profile stocks.
The markets have been desperate for a form of relief, and it looks like it’s here.
Still, the erratic nature of Trump’s tariff strategy has left more than a few open questions. In his announcement, Trump only mentioned China’s retaliation strategy by name, lumping all other countries together.
However, a few crucial markets, like the EU, also retaliated. It is currently unclear how Trump will treat other actors, as China is his main target.
Open questions like this may continue to cause market uncertainty. As analyst Joe Wiesenthal pointed out, Trump has already caused a lot of economic chaos with his tariff threats alone.
Will he retaliate against nations other than China? Will former allies continue pulling away from the US? These live questions may frustrate long-term economic gain
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Russia’s Central Bank and Finance Ministry is Launching a Crypto Exchange
Russia’s Ministry of Finance and Central Bank are teaming up to launch a centralized crypto exchange. This comes after successive attempts to force other exchanges out of the country.
This is just one step in Russia’s recent efforts to promote cryptocurrency as a tool to evade sanctions. Its government and business community have been espousing the practice, and Russia is considering a ruble-backed stablecoin.
Russia to Launch a Government-Backed Crypto Exchange
According to a report from local media, Russia’s government institutions have big plans for this centralized exchange. Initially, it will only be open to “super-qualified” investors.
This refers to investors who have 100 million rubles ($1.2 million) in securities and deposits or 50 million ($600,000) in annual income. These requirements are not final and may be changed after launch.
Anton Siluanov, Russia’s Minister of Finance, described the plan:
“Together with the Central Bank, we will launch a crypto exchange for super-qualified investors. Crypto assets will be legalized, and crypto operations will be brought out of the shadows. Naturally, not within our country, but those operations that have been carried out today within the framework of the experimental legal regime,” he said.
This exchange is part of Russia’s response to an international crypto crackdown. Specifically, private firms are being forced to leave the country.
Last month, Garantex, a Russian exchange, lost $28 million in assets when Tether froze them after US sanctions. The month prior, Deribit also left the country after sanctions from the EU.
Siluanov announced last December that the Russian government would use cryptocurrency to evade international sanctions, and private firms have embraced the practice.
At the last BRICS Summit, Russia advocated for this policy on the international stage, and it’s considering a Ruble-backed stablecoin.
By creating this exchange, Russia will have a platform to further intensify its crypto-based activities. According to the report, these “super investors” will be able to directly trade in cryptoassets, while retail traders will be restricted to various derivatives. This ties in with a recent three-year plan to test regulated crypto markets.
Russia’s crypto exchange is set to launch this year, but the government still needs to determine a few details. The regulatory framework for crypto derivatives is not entirely operational, and the plan has faced some pushback from the nation’s financial community.
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Crypto VC Funding Soars To $659M In September, With Blockchain Gaming Surging 32%!
In a promising turn of events for the cryptocurrency landscape, venture capital (VC) funds have invested over $659 million in…