Source: Cointelegraph Original: "{title}"
Executives in the cryptocurrency industry told Cointelegraph that the escalating geopolitical tensions threaten the fragmentation of blockchain networks and restrict user access.
On Wednesday (April 9), U.S. President Donald Trump announced a suspension of tariffs imposed on certain countries—but the prospect of a global trade war still looms, especially as Trump continues to seek a 125% tariff on Chinese imports.
Industry executives expressed concern that if tensions escalate, there could be a range of potential consequences, including disruptions to the physical infrastructure of blockchain networks, regulatory fragmentation, and censorship.
"Radical tariffs and retaliatory trade policies could create obstacles for node operators, validators, and other key participants in blockchain networks," Nicholas Roberts-Huntley, CEO of Concrete & Glow Finance, told Cointelegraph.
"In times of global uncertainty, the infrastructure supporting cryptocurrencies, not just the assets themselves, may become collateral damage."
According to CoinMarketCap, the total market capitalization of cryptocurrencies fell by about 4% on April 10 as traders weighed the conflicting information from the White House on tariffs, coupled with a backdrop of macroeconomic unease.
Cryptocurrency market cap drop on April 10 Source: CoinMarketCap
Vulnerability of Bitcoin
Bitcoin (BTC) is particularly vulnerable to the trade war as its network relies on specialized hardware for Bitcoin mining, such as ASIC chips used to solve network cryptographic proofs.
"Tariffs disrupt established ASIC supply chains," David Siemer, CEO of Wave Digital Assets, told Cointelegraph. Chinese manufacturers like Bitmain are key suppliers for miners.
However, "the greater threat is the erosion of the core value proposition of blockchain—its global, permissionless infrastructure," Siemer said. This is especially problematic for ordinary cryptocurrency holders.
"If global trade collapses and capital controls tighten, citizens in restrictive countries may find it harder to access Bitcoin," said Joe Kelly, CEO of Unchained. "Governments may crack down on exchanges and deposit channels, making accumulation and usage more difficult," Kelly added.
Comparison of Bitcoin and stock performance Source: 21Shares
Ironically, these types of concerns also underscore the importance of cryptocurrencies and decentralized blockchain networks, executives stated.
Bitcoin has shown "signs of resilience" amid market turmoil, highlighting the coin's role in hedging geopolitical risks.
"While the environment is challenging, it also creates opportunities for cryptocurrencies to prove their long-term value and utility on the global stage," noted Neil Chopra, an executive at Fireblocks.
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