Crypto markets faced immediate pressure after President Trump imposed 15% global tariffs, sending equities tumbling. Bitcoin initially fell but rebounded above $66,000 as capital rotated defensively, boosting its market dominance to 58–60%. In a separate regulatory development, the SEC issued guidance allowing broker-dealers to treat qualifying USD stablecoins as cash equivalents with a 2% haircut. Meanwhile, adoption infrastructure advanced with the XRPL’s permissioned DEX activation and Société Générale’s stablecoin issuance, though XRP’s price declined nearly 4% amid broader market weakness.
Financial markets opened under significant strain following President Trump’s announcement of broad 15% global tariffs. This policy shock injected immediate geopolitical friction, as the ruling constrained prior trade measures. Equities reacted sharply, with the US 500 declining 0.66% and the US Tech 100 sliding 0.89%.
Selling eventually exhausted near key demand zones, allowing Bitcoin to rebound toward $68,000. This recovery signaled safe-haven rotation, while Ethereum fell 1.72% as traders de-risked higher-beta exposure. Capital consolidated into Bitcoin, lifting its dominance significantly during the session.
Separately, regulatory clarity emerged for USD-pegged stablecoins within broker-dealer frameworks. SEC staff issued guidance redefining eligible stablecoin treatment, classifying them as cash equivalents. Firms may now apply a standardized 2% haircut instead of the previous punitive 100%, which limited balance-sheet efficiency.
This change eases balance sheet pressure, allowing firms to expand stablecoin use in settlement and collateral operations. Market participants gain faster funding mobility, strengthening the legitimacy of compliant issuers and reinforcing stablecoin competitiveness in short-duration liquidity markets.
Adoption infrastructure also progressed with the activation of XRPL’s permissioned decentralized exchange. Compliance-gated pools enable controlled exchange of tokenized fiat and stablecoins, deepening bank-grade participation. Société Générale’s euro-denominated stablecoin issuance further reinforced this institutional trajectory.
Despite these structural gains, market sentiment remained defensive with XRP declining nearly 4% to $1.37. The price weakness reflected the broader crypto retracement as holders reduced exposure, sustaining near-term sell pressure. Beneath the price action, adoption signals continued firming as institutions assessed operational integration.
