The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Thursday! Well, following up on yesterday's lingering question, President Trump's tariff announcements were harsher than expected, leaving crypto holders feeling "liberated" from their money as prices tumbled.
In today's newsletter, crypto markets continue to digest Trump's sweeping Liberation Day tariffs, JPMorgan says bitcoin's "digital gold" narrative is under pressure, the U.S. House Financial Services Committee votes to advance a stablecoin bill and more.
Meanwhile, the U.S. Senate Banking Committee confirmed Trump's nomination of crypto-friendly Paul Atkins to lead the Securities and Exchange Commission.
Let's get started.
President Trump's "Liberation Day" announcement of reciprocal tariffs on Wednesday caused sharp declines in the crypto market, with Bitcoin, Ether and Solana dropping around 6%, 8% and 15%, respectively.
Bitcoin's volatility, ETF outflows and correlation with equities are raising questions about its "digital gold" narrative, according to analysts at JPMorgan.
The U.S. House Financial Services Committee voted 32-17 to advance the Stablecoin Transparency and Accountability for a Better Ledger Economy or STABLE bill, which aims to create a regulatory framework for dollar-denominated stablecoins.
Matcha, the decentralized exchange aggregator developed by 0x, has expanded to Solana — making it one of the first DEX aggregators to support trades on both SVM and EVM-compatible blockchains via a single app.
PayPal has expanded its crypto offering in the U.S. to support buying, selling, holding and transferring Solana and Chainlink's native cryptocurrencies for the first time.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT 3.5/4 and reviewed and edited by our editorial team.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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