Policy, Power, and a Price Surge

From D.C. to DeFi—Trump, gold, and Bitcoin shift the game

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Cryptopolitan News
April 11, 2025 • Estimated Reading Time: 8 minutes

Hello, and welcome to the Cryptopolitan Daily.

The crypto market never sleeps, and neither do we. Whether it’s breaking news, market shifts, or regulatory updates, we’re here to bring you the insights that matter—fast, sharp, and to the point.

Today’s Byte

• Trump’s 90-day tariff relief

• First crypto bill signed (IRS DeFi rule repealed)

• Paul Atkins confirmed as SEC Chair

• Florida goes bullish on Bitcoin

Market-moving headlines 🔥

President Donald Trump has signed a new legislation that repeals a controversial crypto tax rule introduced at the tail end of the Biden administration. 

On Friday, the US dollar slid to its weakest level in over a decade, as investors abandoned US assets over economic instability and policy uncertainty concerns.

Perpetual futures contracts—a mainstay of offshore digital asset exchanges—may finally become accessible to U.S.-based traders under regulated platforms.

The White House’s effort to force a divestiture of TikTok’s US operations has reportedly collapsed, at least for now, after Beijing refused to approve a proposed deal.

🇺🇸 Trump hits Pause — 90 days of tariff relief

Donald Trump took to Truth Social with a double-post that sent shockwaves through global markets.

First, he teased it:

Hours later, the announcement hit 

The markets were quick to react.

Market reaction:

  • U.S. stocks added $4 trillion in value in under 10 minutes.

  • S&P 500 surged 6%, Dow jumped 2,159 points (5.7%), Nasdaq soared 8%.

  • Bitcoin soared past $80,000.

  • Altcoins like XRP, Solana, and Cardano climbed 10%+ within minutes.

  • Apple +7%, Nvidia +10%, Walmart +9% — the rebound leaders after tech's rough week.

Wall Street had been bracing for more tariff blows, but the sudden pivot sent traders into buy mode.

🧾 Trump signs first-ever U.S. crypto law

Repeals IRS DeFi rule, signaling a big shift in Washington

In a historic move, President Donald Trump has signed into law the first crypto-related bill in U.S. history, repealing the controversial IRS 'DeFi Crypto Broker Rule'.

Source: RapidResponse on X

This bipartisan repeal was seen as a massive win for the decentralized finance (DeFi) space — and a clear signal that the U.S. government is reassessing how it treats crypto protocols.

 Why it matters:

  • The now-repealed rule would have forced DeFi platforms to comply with traditional broker reporting standards — including user tracking and transaction reports to the IRS.

  • Critics called the rule “unworkable” and “dangerously overreaching,” since DeFi tools are typically non-custodial and not centrally controlled.

  • Trump has long vowed to end “Operation Choke Point 2.0” — and this repeal is widely seen as part of that mission.

From the Cryptopolitan Archives

As we noted in a recent issue, this repeal has been building steam for weeks:

Missed this build-up? Don’t miss the next one

🇺🇸 Senate advances Paul Atkins’ SEC nomination

The Senate has voted 51–45 to move forward with Paul Atkins’ nomination as SEC chairman, with a final vote expected as early as tonight.

Why crypto cares

  • Seen as a friendlier face for DeFi and exchanges

  • Expected to reduce enforcement-heavy policies

  • Could accelerate ETF approvals and crypto market maturity

But not without controversy — Democrats, led by Sen. Elizabeth Warren, have criticized Atkins’ ties to FTX through his firm, which consulted for the exchange before its collapse. She warned of “helping billionaire scammers like Sam Bankman-Fried.”

Still, with the majority vote, Atkins seems likely to take the helm — signaling a major shift in how the U.S. handles crypto oversight.

🗳️ Florida votes for a bitcoin reserve

On April 10, Florida’s House Insurance and Banking Committee unanimously passed House Bill 487 — aka the Strategic Bitcoin Reserve Bill — clearing the first hurdle toward allowing public funds to be invested in Bitcoin.

The bill now moves to the full legislature.

Why it matters

  • No opposition votes = strong political signal

  • A step toward state-level crypto normalization

  • Could set precedent for other U.S. states exploring on-chain reserves

The bill isn’t law yet — but Florida is clearly planting the flag as a pro-Bitcoin state, right as D.C. debates crypto policy at the federal level.

📈 Market scoop

Gold steals the spotlight

Gold surged to a record high of $3,218.07 this week, as investors rushed toward safety amid growing global uncertainty.

What’s driving the rally?

  • Trump’s tariff war with China spooked the markets

  • A sliding dollar made gold more attractive

  • A major bond sell-off dimmed confidence in Treasuries

  • Cooler-than-expected CPI data sparked hopes of Fed rate cuts

Ahead of the curve—again.

In our previous edition, "The Bull Run Begins: But Not for Bitcoin?" we pointed to gold’s rising strength. Fast forward, and gold has just hit a record high. We’re tracking the trends that matter before they make headlines.

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