This week's cryptocurrency news highlights.
The most attention was drawn to the record of Bitcoin's founder 'Satoshi Nakamoto', Standard Chartered Bank's XRP investment analysis report, and BitMEX co-founder Arthur Hayes' analysis of Trump's tariffs.
The US Department of Homeland Security claims to know the identity of Bitcoin founder Satoshi Nakamoto, and cryptocurrency lawyer James Murphy filed a lawsuit based on the Freedom of Information Act. On April 7th, Murphy submitted a complaint to the federal district court and demanded that the Department of Homeland Security disclose documents related to Nakamoto's identity.
Standard Chartered Bank released an XRP investment analysis report on April 8th. They projected that it could potentially rise over 500% from its current price to reach $12.5 by 2028.
Amid escalating US-China trade tensions, Arthur Hayes argued on April 8th that cryptocurrency assets like Bitcoin could again benefit from this trade war. In an X post, he pointed out that China's response to new US tariffs is expected to lead to yuan depreciation.
Grayscale's latest market report analyzed that tariffs and trade friction would have a positive impact on Bitcoin adoption in the medium term.
Trump announced on the 9th that he would impose cumulative tariffs of 104% on Chinese products. This raised concerns about global economic recession, causing Bitcoin to plummet. With stock market volatility remaining high, the inflow of funds into risk assets like Bitcoin also slowed down.
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