Ahead of the much-anticipated May 10 US China trade war talks, US President Donald Trump seems to have extended an olive branch by proposing to lower tariffs to 80%. However, the president indicated that any move to reduce tariffs will depend on how negotiations go between the US Treasury Secretary and his Chinese counterpart.
Trump Proposes To Lower Tariffs Ahead US China Trade War Talks
In a Truth Social post, the US president stated that an 80% tariff on China seems right. He added that this proposal is up to Scott Bessent, indicating that Saturday’s talks could determine whether they make this move or not.
During a press conference in which he announced the US-UK trade deal, Donald Trump also commented on the negotiations with China, stating that he believes they would have good talks and possibly reach an agreement. He then raised the possibility of lower tariffs on China, remarking that they may lower tariffs if talks go well.
This president looks to have taken a softer stance just two days after he ruled out a tariff concession for China. When asked during a press briefing, he dismissed the possibility of rolling back the 145% tariff on Chinese goods.
Meanwhile, in another Truth Social, Trump demanded a show of good faith from China, requesting that the country open up its market to the USA. He added that this would be “so good” for them, as closed markets no longer work.
The president seems to be eyeing a similar deal to the one they struck with the UK. The UK agreed to open up its markets to US goods as part of the agreement between both countries. Ahead of the May 10 US China trade war talks, China has remained silent and refused to discuss any potential agreement with the US.
However, the Bitcoin price and the broader crypto market are already reacting positively to the Saturday talks. BTC has since surged past the $100,000 mark following news of the May 10 negotiation between both heavyweights.
New SEC Chair:- There is so much happening in crypto and web3 as of now. The biggest gala of crypto leaders and champions is gathering at Token 2049 in Abu Dhabi.
Crypto market is turning bullish with BTC crossing $96,000 as of writing. XRP ETFs have been launched in Canada. Trade Fi and DeFi are integrating and innovating at an unprecedented pace.
Another such important happening is the sworn-in of new SEC Chair Paul Atlkins on April 21. Considered as the pro-crypto ally, he already has connections with the industry – holding around $6 million in crypto-related investments.
Atkins is serving out the remainder of former SEC Chair Gary Gensler’s term, which is set to expire on June 5, 2026.
From now, his over 1-year tenure as the chairman of the US’s top regulatory body – Securities and Exchange Commission (SEC) – will be pivotal for the crypto market and web3 industry.
Bitget CLO critically explains the impact of new SEC Chair on hottest trends of Web3, viz., Stablecoins, RWA Tokeniations, ETFs, regulatory clarity and expected legislations.
New SEC Chair to Led Path Towards Regulatory Clarity
Paul Atkins made his first public appearance as the new SEC Chair on April 25. In the first crypto roundtable, he sought for more clear crypto regulations for the web3 industry.
Bitget CLO Hon N. who has worked previously for Binance says, “Atkins is someone who has actively worked in the crypto industry. In the latest crypto roundtable, his message was regulatory clarity — and that’s what industry players really need.
Businesses are not asking for an open pass to do anything they want. Rather, we want clear guidance and no more confusion on what compliance looks like. Under Atkins’ leadership, we believe that the SEC will provide that clarity.
That clarity alone removes huge legal uncertainty and keeps innovation onshore.
He has called on the previous SEC administration for stifling innovation in the crypto industy from the last several years due to market and regulatory uncertainty.
During the roundtable speech, he has hinted changes to custody rules under the Exchange Act, Advisers Act, or Investment Company Act to accommodate crypto assets and blockchain technology. He is also working for a new crypto asset broker-dealer framework if needed.
As founder and CEO of Patomak Global Partners, new SEC Chair Atkins has advised numerous cryptocurrency exchanges and blockchain startups on regulatory strategy and compliance.
Since 2017, he is also serving as the co-chair of the Token Alliance which is a leading industry advocacy group that works to shape sensible crypto regulation. However, after taking office, he has resigned from both of these roles.
New SEC Chair Stakes in Securitize | Official Filings
With the increasing interest in crypto, there is a notable surge in ETF filings. There are a growing number of pending ETF applications with the SEC.
Nasdaq filed a Form S-1 today to list and trade shares of the 21Shares Dogecoin ETF. Bitwise’s proposal for a spot XRP ETF has entered its initial 90-day review window.
VanEck has also formally submitted a registration for a spot Avalanche (AVAX) ETF. Bitget CLO Hon N. seems bullish action likely for these applications with the new SEC Chair.
So, the SEC currently has over 70 altcoin ETF applications pending approval. And they are continuously delaying the decisions. It tells me that the Commission is likely working on a new framework for approval, says Bitget CLO Hon. from his over 18 years of experience in the legal and business fields, Paul Atkins might empower staff to grant “conditional approvals” for pending altcoin funds. He can set straightforward guardrails — like capital requirements and liquidity tests — so issuers know exactly which box to check.
However, these are assumptions — and while they might materialize, the new SEC chair has a lot on his plate, and not every single decision will be immediate.
Global ETF net sales totaled roughly $314.5 billion in Q1 2025. This was driven largely by the Big Three promoters—iShares (+$109.6 billion), Vanguard (+$104.0 billion), and Invesco (+$20.4 billion).
In 2024, the SEC initiated 33 crypto-related enforcement actions against major crypto companies including Ripple, Kraken. It imposed $4.98 billion in penalties for fraud and unregistered offerings.
Whatever rules the regulatory body makes under the new SEC chair will ultimately set the course for the web3 industry.
Bitget CLO believes, “Ideally Atkins should push Congress and his staff to tackle three core areas first. Stablecoin legislation tops the list: defining covered, fully-backed dollar tokens as payment instruments will secure consumer trust and let banking regulators step in.
Also, the tokenization framework needs clear, safe harbors for digital shares, bonds, and funds — aligning Investment Company Act requirements with modern platforms.
On stablecoins, he could deploy a dedicated Safe Harbor Pilot, allowing issuers to operate under transparent reserve‐audit and redemption rules for, say, 12–18 months while the SEC collects real‐world data.
Third, the SEC must finalize custody rules and a “special purpose broker-dealer” structure so exchanges and wallets can hold assets without jumping through hoops.
On the rule side, guidance on DeFi lending and staking will help protocols design compliant products. The Commission should also revisit crowdfunding limits to allow more projects to raise capital through transparent disclosures.
Can the new SEC Chair Solve the Hottest Debate of Disgreement
Classifying crypto assets as ‘security vs. commodity’ debate has been the most pressing debate for the US crypto market in the past five years. It has become the root cause of almost every major lawsuit the industy has witnessed.
Bitget CLO believes the new SEC Chair can extinguish this long-burning fire.
Atkins is uniquely positioned to draw a clearer line between securities and commodities. The recent guidance from the Commission’s crypto task force already treats fully-backed dollar stablecoins as non-securities and carves out other niche segments from SEC’s jurisdiction.
Building on that, I think he’ll lean on the Howey test’s focus on “investment contracts,” ensuring only tokens sold with profit-expectation marketing face securities rules. He has promised to work closely with the CFTC, banking agencies, and Congress to prevent overlap and confusion.
Ultimately, Atkins’ approach should leave true payment and commodity tokens in the CFTC’s scope, while investment-style tokens land squarely under SEC authority.
Can SEC turn from an Aversary to Friend for Web3
The new SEC chair can chart a new course of regulatory history by pionerring pro-crypto legislations in the country. His over 1-year tenure leaves the web3 companies and leaders hoping for better prospects and favourable landscape.
Bitget CLO concludes, eyeing “Atkins’ future industry roundtables on tokenization and DeFi. We’ll finally get targeted rules instead of broad fears.
While he won’t let fraud go unchecked, his focus on cost-benefit analysis and legislative fixes means the SEC will likely act more like a partner than an adversary.
In the long term, I expect him to propose joint roundtables with the FCA and EU authorities and to support global bodies like the Financial Stability Board in drafting voluntary guidelines. That collaborative stance will nudge national regimes toward a more interoperable, globally coherent rulebook.
My last advice for him would be to establish clear pilot programs. Instead of decades-long rulemakings, he could set short-term Safe Harbor Pilots with defined metrics for stablecoins, tokenized securities, and ETFs.
An Australian crypto billionaire reportedly bit off part of an assailant’s finger during an attempted kidnapping in Estonia.
It marks another harrowing tale amid a growing global security threat for crypto holders.
Crypto Wealth Becomes a Real-World Target as Wrench Attacks Rise
The incident reportedly happened outside Tim Heath’s apartment in Tallinn, Estonia. The victim, founder of gaming and blockchain investment firm Yolo Group, testified last week in an Estonian court.
Local media reports that a man posing as a painter ambushed Heath on the stairs of his building last week, trying to force a bag over his head. Reacting instinctively, Heath bit the attacker’s hand, severing part of his finger, and managed to flee.
DNA from the severed finger was later submitted as evidence, reportedly matching one of the suspects. As it happened, the perpetrator was a man from Azerbaijan with a forged passport who had surveilled Heath using GPS trackers and burner phones.
Investigators believe the group planned to hold Heath in a rented sauna and extort cryptocurrency. Now unfolding in court, the case highlights how real-world attacks are becoming a disturbing norm for crypto investors.
“My day-to-day existence is totally different now,” local media reported, citing Heath.
After the attack, Heath invested €2.7 million ($3.18 million) in personal security and has filed a civil claim seeking over €3.2 million in damages.
It marks another harrowing incident in Europe, amid a growing global security threat for crypto holders. BeInCrypto reported a dangerous trend targeting crypto holders.
Meanwhile, Raido Saar, president of the Estonian Web3 Chamber and CEO of Matter-ID, directly blames recent regulations like the FATF Travel Rule.
“Once a real identity is connected to a public wallet address, it exposes more than just the transaction…It can give rise to real-world targeting,” Saar said in a statement to a news site.
He added that current AML frameworks are creating a conflict between compliance and human rights. This is especially true when the infrastructure to protect user privacy does not yet exist at scale.
Global Surge in Crypto Kidnappings Highlights Widening Threat
The Heath case mirrors other wrench attacks targeting crypto investors, including the abduction of Ledger co-founder David Balland in France. As it happened, Balland’s finger was also severed as part of a ransom threat earlier this year.
The common denominator in these attacks is financial transparency outpacing privacy protections. This factor is a fatal flaw in crypto’s emerging regulatory infrastructure. As crypto becomes mainstream, so does the risk of being physically targeted.
XRP has recently been facing a downtrend, with the altcoin dipping below key support levels. However, it seemingly established a bullish pattern that appeared poised for a breakout.
Yet, the overvaluation of XRP has made this breakout unlikely. As the altcoin’s price surges, concerns about its sustainability are mounting.
XRP is Highly Overvalued
This week, XRP’s network value-to-transaction (NVT) ratio spiked to a five-year high, signaling an overvaluation. The NVT ratio is a critical indicator that compares a cryptocurrency’s market capitalization to its transaction volume. When the NVT ratio increases sharply, it suggests that the network value is outpacing actual transaction activity.
This condition has historically been associated with an upcoming correction in price. The last time the NVT ratio reached similar levels was in January 2020, just before XRP experienced a significant price downturn. The surge in NVT suggests that the market is becoming overheated, with expectations of a cooldown.
Despite XRP rallying 22% in the past two weeks, technical indicators paint a more concerning picture. The Chaikin Money Flow (CMF) indicator has displayed a significant spike, often suggesting that money flows into the market. However, a closer look at the volume of inflows reveals that substantial buying activity has not supported the price increase.
Instead, hype and speculation drive the price surge more than genuine investor interest.
With this in mind, XRP’s rally may be more of a short-term anomaly rather than a sustainable upward trend. As the market cools down and the hype subsides, the altcoin will likely struggle to maintain its recent price levels. The overvaluation condition remains a significant risk, potentially leading to a price correction.
XRP is currently trading at $2.19, showing a 22% increase in the last two weeks. The altcoin appears to be preparing for a breakout from a three-month-old descending channel. However, this breakout faces challenges, as the overvaluation condition and broader market indicators suggest that the rally may not last.
Given the potential bearish factors, even if XRP manages to break out, the rally could be short-lived. The price could retreat to $2.02, or possibly lower to $1.94, if the breakout fails to hold. The combination of overvaluation and weak buying momentum could quickly reverse any gains.
On the other hand, if XRP does manage to sustain its breakout, securing $2.40 and $2.56 as support levels could provide the necessary foundation for further price growth. Such a move would invalidate the bearish outlook, allowing XRP to push higher and continue its ascent.
