US lawmakers seek to speed crypto legislation as DOJ signals retreat on enforcement

The tit-for-tat trade escalation between China and the United States once again reverberated throughout global financial markets and cryptocurrencies on Wednesday — but prices surged this time.

Bitcoin jumped 5% in minutes to trade above $81,000 as President Trump responded to China's escalation by increasing tariffs on the Asian giant to 125%. The largest cryptocurrency by market cap had dropped below the $80,000 mark following the implementation of the president's tariff plans on Sunday, April 6.

In the same beat, Trump announced a 90-day pause for import duties on other countries and reduced reciprocal tariffs to 10% in the interim. "Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately," Trump wrote on Truth Social, a social media platform he owns.

"I have authorized a 90-day PAUSE and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately," the President added, noting that over 75 countries had engaged the U.S. in commerce negotiations.

Crypto markets and equities immediately skyrocketed following the news. Ether flew 7% to hit $1,580, according to The Block's price page. Major altcoins like Solana and XRP posted double-digit bounces as the total cryptocurrency market flipped green, rising above $2.6 trillion. The GMCI 30 recorded an 8% uptick as the top 30 digital currencies by market cap soared, according to The Block’s data page. Data from Yahoo Finance showed similar price action in U.S. markets. The S&P 500, DOW Jones, Nasdaq, and Russell 2000 all rose more than 5% shortly after President Trump's post.

Dr Kirill Kretov, senior automation expert at CoinPanel, told The Block that bitcoin and crypto’s amped volatility was unsurprising, considering sudden price swings in more established markets. "Even traditional markets are behaving like memecoins," Kretov said. "Just look at the recent S&P 500 spike of +8% on fake news, followed by a -3.5% correction within minutes. If that’s the new normal for tradfi, why would we expect bitcoin to behave differently? Especially with how thin and easily moved the crypto market is right now."

Relief from macro data

Minutes from the March Federal Open Market Committee meeting to be released Wednesday afternoon may spark a market recovery, Darren Chu, contributing analyst at BRN, had said before Trump's latest jab at China. Also, Thursday’s Consumer Price Index and Friday’s Produce Price Index data could offer a clearer picture of U.S. inflation, which are key factors for the Federal Reserve’s future decisions on monetary policy.

"Odds are moderate and rising for a multi-day to multi-week Dead Cat Bounce to begin as early as today 2 pm EST with the release of the US FOMC meeting minutes, or by Thursday with the US CPI and unemployment claims, or Friday with the US PPI and preliminary UoM consumer sentiment and inflation expectations," Chu said.

U.S. Federal Reserve Chairman Jerome Powell previously said the central bank would respond to hard data rather than sentiment and was in no rush to pivot its policy stance. Powell also cautioned President Trump’s tariff maneuvers, warning that economic repercussions like higher inflation and cooling growth rates might arise.

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.

TL;DR

‘XRP Network is Growing Stronger’

Ripple’s XRP has been on a severe downtrend lately, mirroring the overall slump of the cryptocurrency market. It currently trades at $1.83, a nearly 50% collapse from the local topobservedin mid-January.

Despite the plunge, some important indicators have been on the rise, which could indicate a potential bullish move in the future.

The popular analyst Ali Martinez estimated that “the XRP network is growing stronger” as the number of addresses holding at least one token has reached an all-time high (ATH) of 6.26 million. The figure stood at less than 6.23 million at the end of March.

The development signals increased adoption and growing interest in the cryptocurrency. The metric’s rise could also reflect confidence among investors and hint that more individuals or entities are accumulating XRP, possibly in anticipation of future price increases.

Meanwhile, other Ripple indicators have also headed north in the past few days. These include the number of active accounts, the number of executed transactions, and more.Price Explosion in the Next Years?

XRP’s downward spiral as of late hasn’t stopped people or companies from making optimistic predictions.

Recently, the British multinational bank Standard Charteredpredictedthat the price of Ripple’s cross-border token could soar to $5.50 this year and a whopping $12.50 by the end of 2028 (shortly before the end of Donald Trump’s term). The entity suggested that the potential approval of XRP exchange-traded funds while the Republican remains in power will act as a key driving force.

Earlier in April, asset manager Teucrium introduced the first XRP-based ETF in the US, but the launch of an investment vehicle that directly tracks the price of the underlying token has yet to see the light of day.

Teucrium’s product saw some notable volume on its first day, as Eric Balchunas said.

$XXRP (2x XRP ETF) saw $5mil in volume on Day One, very respectable, esp considering the mkt conditions. That puts it in approx top 5% of new ETF launches, and about 4x what the 2x Solana ETF $SOLT did (altho both 200x less than King IBIT). pic.twitter.com/u3QQq5yuHv

— Eric Balchunas (@EricBalchunas) April 8, 2025

By Vicky Ge Huang

Bitcoin jumped above $82,000, mirroring a broad-based stock-market rally after President Trump announced a 90-day pause on reciprocal tariffs.

The largest cryptocurrency recently traded just below $82,000, after hitting its lowest levels since just after President Trump's election victory.

Smaller digital currencies including ether, solana and Ripple-linked XRP also gained. Ether recently stood at $1,600.

Crypto-linked stocks also surged. Bitcoin-buying machine MicroStrategy shot up nearly 22%. Shares of crypto exchange Coinbase Global gained 17% in early afternoon trading.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

Find out about the best gold IRA company of 2025 through IRAEmpire's latest rankings.

NEW YORK CITY, NY / ACCESS Newswire / April 9, 2025 / IRAEmpire.com has officially released its updated list of the Best Gold IRA Companies of 2025, providing valuable insight for investors looking to safeguard their retirement savings with physical precious metals.

Quick Look: Top Gold IRA Companies of 2025

According to IRAEmpire.com, the top picks for 2025 are:

• Augusta Precious Metals - Best for High-Value Portfolios

• Goldencrest Metals - Best for First-Time Investors

• Preserve Gold - Best for Diversified Metals Selection

Augusta Precious Metals retains its position as the #1 overall Gold IRA company. "Their consistent performance in education and ethical practices continues to set the gold standard," says Whitaker.

Goldencrest Metals earned recognition for catering to beginners, while Preserve Gold stood out for offering access to a broader range of IRS-approved precious metals.

Ryan Paulson, Chief Editor at IRAEmpire.com, shared, "This year's rankings reflect changes in investor priorities-especially around transparency, service quality, and account flexibility. Our aim is to give readers clear, actionable recommendations they can trust."

You can view the full list here: Best Gold IRA Companies 2025

Spotlight on Augusta Precious Metals

Founded in 2012, Augusta Precious Metals continues to lead the industry by combining investor education with white-glove service. Clients benefit from one-on-one web conferences led by a Harvard-trained economist, an offering unique to Augusta.

The company provides a full suite of IRA-eligible gold and silver products, plus streamlined rollover services from 401(k)s and other retirement accounts. Transparent, commission-free pricing and a strict no-pressure sales approach have earned Augusta top marks from customers and financial reviewers alike.

Their lifetime customer support and straightforward buyback program give investors peace of mind well after their initial purchase. Publications like Money and Investopedia regularly feature Augusta as a top-tier provider in the Gold IRA space.

Visit Augusta Precious Metals Here

Spotlight on Goldencrest Metals

Goldencrest Metals, based in Woodland Hills, California, has quickly emerged as a preferred choice for new investors in Gold IRAs. Founded in 2022, the company is known for its transparent pricing, beginner-friendly approach, and a strong emphasis on customer education.

Goldencrest offers a range of IRS-approved gold, silver, platinum, and palladium products, as well as Traditional and Roth IRAs with hassle-free rollover options. Their pricing structure is upfront, with special incentives for first-time investors.

With strong customer satisfaction scores-4.4 out of 5 stars on Trustpilot and 4.94 out of 5 on the Better Business Bureau (BBB)-Goldencrest Metals is praised for its responsive service team and lifetime support throughout the investment process.

Goldencrest's commitment to accessibility and education makes it an excellent choice for those just getting started with precious metals.

Spotlight on Preserve Gold

Preserve Gold has established itself as a standout for investors who value both product variety and personal service. The company offers an extensive selection of gold, silver, platinum, and palladium for IRA inclusion, appealing to those who want a well-diversified portfolio.

Known for its hands-on approach, Preserve Gold assigns dedicated account specialists to guide clients through every step-from IRA setup to asset selection and storage options. The company partners with secure, IRS-approved depositories and offers both segregated and non-segregated storage.

Preserve Gold has received high praise for its clear pricing model, straightforward rollover assistance, and commitment to investor education. Their customer-first mentality and wide product offering make them a strong option for those seeking flexibility and variety in a Gold IRA.

What to Look for in a Gold IRA Company

Before choosing a Gold IRA provider, investors should evaluate a range of critical factors that impact both short-term setup and long-term financial success. Not all companies operate with the same level of integrity or service, so taking the time to investigate each provider's offerings can make a meaningful difference in your retirement planning.

• Industry Reputation - Look for companies with strong customer reviews, long-standing industry presence, and top-tier ratings on platforms like the Better Business Bureau (BBB) and Trustpilot. Peer feedback is a powerful indicator of reliability and service quality.

• Pricing Clarity - Transparent fee structures are essential. Avoid firms that bury costs in the fine print or apply undisclosed markups on precious metals. The best providers will walk you through setup fees, annual maintenance, storage charges, and product pricing without hesitation.

• Secure Storage - Metals in your IRA must be held in an IRS-approved depository. Evaluate whether the company partners with reputable, fully insured storage facilities such as Delaware Depository or Brinks. Ask whether they offer both segregated and non-segregated storage options and the associated costs of each.

• Education & Support - Gold IRAs can be complex, especially for first-time investors. Companies that offer live educational sessions, written resources, and personalized guidance provide extra peace of mind and a better client experience.

• Buyback Policy - A dependable buyback program ensures that you can liquidate your holdings quickly and at a fair market rate. Companies with no-questions-asked policies or guaranteed buyback terms stand out for flexibility and investor protection.

• IRS Compliance - Ensure the company deals only in IRA-approved metals and follows all IRS regulations for storage, contributions, and rollovers. Non-compliance can result in tax penalties and disqualification of your IRA status.

• Customer Service Responsiveness - Quality service doesn't end after setup. Test their responsiveness by calling with questions or requesting information before committing. Good communication and prompt answers are strong indicators of ongoing support.

Making an informed choice can safeguard your retirement portfolio and help you avoid unnecessary risks. Doing the homework now sets you up for more stable returns and greater confidence in your financial future.

What is a Gold IRA? How Does it Work?

A Gold IRA, or Gold Individual Retirement Account, is a type of self-directed IRA that allows investors to hold physical gold and other approved precious metals as part of their retirement portfolio. Unlike traditional IRAs that typically hold stocks, bonds, or mutual funds, Gold IRAs give investors the ability to diversify with tangible assets like gold bullion, coins, and bars that meet IRS standards.

Gold IRAs operate under the same general rules as other IRAs. You can open a Traditional or Roth version of a Gold IRA, depending on your tax strategy. Contributions to a Traditional Gold IRA may be tax-deductible, while Roth IRA contributions are made with after-tax dollars, allowing for potentially tax-free withdrawals in retirement.

To set up a Gold IRA, investors must work with a custodian who is approved by the IRS to manage self-directed IRAs. The custodian helps handle the paperwork, ensures regulatory compliance, and facilitates transactions between the investor and the precious metals dealer. Once metals are purchased, they are stored in a secure, IRS-approved depository-not at home. This is a key distinction, as storing IRA assets at home can lead to IRS penalties and disqualification of the account.

Gold IRAs are particularly popular during times of market volatility and inflation, as gold has historically been viewed as a hedge against currency devaluation and economic instability. However, they do come with fees for setup, storage, and administration, which should be considered when comparing investment options.

Ultimately, a Gold IRA allows investors to add a layer of physical security to their retirement savings, offering an alternative to traditional paper-based investments and enhancing overall diversification in a retirement portfolio.

Why are Gold IRAs Gaining Popularity?

Gold IRAs are gaining traction among investors for several compelling reasons. In an economic climate marked by inflation, market volatility, and geopolitical uncertainty, many individuals are looking for ways to protect their retirement savings from devaluation. Physical gold, known for its stability over time, has historically been viewed as a hedge against both inflation and currency depreciation. This makes it an attractive option for those seeking to balance risk in their portfolios.

Another key driver behind the surge in Gold IRA popularity is diversification. Traditional IRAs typically consist of stocks, bonds, and mutual funds, which are all linked to the broader financial markets. By allocating a portion of their savings to precious metals through a Gold IRA, investors can reduce exposure to market downturns. This diversification strategy is particularly appealing during times when the stock market experiences sharp corrections or prolonged downturns.

Increased awareness and accessibility have also contributed to the rising interest in Gold IRAs. More companies now offer simplified onboarding processes, personalized support, and educational tools, making it easier for average investors to understand and open a Gold IRA. Additionally, media coverage and online financial education platforms have played a role in highlighting the potential benefits of adding gold to one's retirement plan.

Finally, rising concerns about national debt, monetary policy, and central bank actions have led many investors to seek alternative stores of value. Gold, with its centuries-long track record of maintaining purchasing power, provides a sense of security that fiat currencies often cannot.

Together, these factors explain why more retirees and long-term savers are turning to Gold IRAs as part of a broader strategy to secure their financial future.

Read the Best Gold IRA Companies of 2025 List Here.

Conclusion

As economic uncertainty and inflation concerns persist, IRAEmpire.com's 2025 Gold IRA rankings give investors the clarity they need to protect their savings. Whether you're starting small or managing a large portfolio, this year's top companies offer secure, transparent, and supportive paths to investing in precious metals.

About IRAEmpire.com

IRAEmpire.com is a trusted source for retirement-focused financial insights and investment reviews. Founded in 2020, the platform evaluates a wide range of retirement products including Gold IRAs, 401(k) rollovers, crypto retirement accounts, and traditional brokerage options.

The site's research methodology involves hundreds of hours of analysis across multiple categories, emphasizing transparency, service quality, and value. IRAEmpire.com operates independently and is not influenced by paid sponsorships in its editorial rankings.

Beyond rankings, the site features in-depth guides on asset protection, inflation hedging, and long-term retirement planning-making it a go-to resource for serious investors.

Contact:

Ryan Paulson

ryan@iraempire.com

SOURCE: IRAEmpire LLC

View the original press release on ACCESS Newswire

XRP prices dipped below $2 for the first time since December 2024 on Monday, even after a number of positive developments for the cryptocurrency.

The decline is surprising to many investors who had hoped recent good news would send its value higher. Market analyst Vincent Van Code attributes this underperformance to underlying economic issues and not with XRP itself.

Trump Tariffs Are Blamed For Crypto Market Decline

Van Code attributes the recent decline in cryptocurrencies to the tariffs imposed by US President Donald Trump on other nations.

The tariff situation is just a power play to utilize economic pressure to get better negotiating terms, said Van Code. He expects these trade tensions to be short-term and perhaps pave the way for the market to rebound in the near future.

XRP Fundamentals Strong

Even after falling to $1.64 on April 7, XRP has shown a rebound by increasing to $1.82—a 10% increase. Van Code pointed out that Ripple and XRP’s fundamental strengths have not changed. They’re a hundred times better than a year ago when the SEC lawsuit was at its peak, he said.

The SEC-Ripple case resolution, potential inclusion in US digital asset reserves, and Ripple’s Hidden Road acquisition were all considered positive developments for the cryptocurrency.Investment Strategy During Market Uncertainty

Van Code described his approach to today’s market condition, showing he buys such assets like XRP when sentiment is low but fundamentals remain in place.

He looks at weekly charts for larger decisions and uses hourly charts for intraday action. The market commentator termed XRP the “Fight Club” of cryptos because of its ability to withstand market action and stress.Future Growth Drivers For XRP

Going forward, Van Code identified three key drivers to XRP adoption: regulation, corporate usage, and solid partnerships. He warned investors to avoid being influenced by short-term price fluctuations due to outside influences such as the tariff scenario.

The analyst said that he would only be jittery if XRP was the sole cryptocurrency that is dropping in value. He also stated that the current decline is part of a larger market trend and not particular to XRP.

The cryptocurrency market still responds to economic policy as investors look for indications that the tariff issue is resolved. Most XRP supporters are optimistic that as soon as these external pressures are gone, the price will more accurately reflect the good news surrounding Ripple and its currency.

Featured image from Unsplash, chart from TradingView

Magic Eden, the NFT marketplace that was valued at $1.6 billion in 2022, has made its first major acquisition by purchasing Slingshot Finance, a mobile-first onchain crypto trading app. The move signals Magic Eden's push beyond NFTs and into broader token trading, aiming to compete directly with centralized exchanges.

"The Slingshot acquisition is Magic Eden's big bet into the token trading space," Jack Lu, co-founder and CEO of Magic Eden, told The Block. "Slingshot's chain abstraction technology lets people trade millions of tokens on 10+ chains without needing to know how blockchains work (e.g. bridging, gas tokens, approvals). These chains include Solana, Ethereum, Bitcoin (coming soon) and many others. We believe this technology represents the future of all crypto trading and will allow Magic Eden to compete directly with centralized exchanges."

The acquisition comes at a time when the NFT sector is facing slumping trading volumes and waning attention. But Lu said Magic Eden remains "incredibly bullish" on NFTs, noting it generated $75 million in revenue last year.

"To us, NFTs are still in their early innings, and like any emerging technology, the path to mainstream adoption includes waves of experimentation and refinement," Lu said. "They are still a new digital primitive that will power the future of gaming, art, collectibles, etc."

Lu said the next phase of NFT adoption will be driven by usefulness, not hype. "What the market is really waiting for is a catalyst: a breakout app, a beloved brand, or a frictionless product experience that onboards the next million users," he said.

Still, Magic Eden is broadening its NFT focus to include token trading across the wider crypto market. While the platform already offers basic cross-chain token swaps, Slingshot adds extended trading functionality.

"Slingshot is a pureplay 'all chains' token trading app, it abstracts away the concept of chains, has much more powerful trading functionality and supports a much wider range of tokens," Lu said. With the integration, Magic Eden will now support trading in over 5 million tokens.

Magic Eden launched its own token last December. It is currently trading at around $0.82, up over 2% in the past 24 hours, according to The Block's ME price page.

Inside the Magic Eden–Slingshot deal

While terms of the deal were not disclosed, it appears to be sizable. Founded in 2020, Slingshot has nearly 1 million users and has raised $33 million in funding to date from backers including Coinbase Ventures, Ribbit Capital and Electric Capital.

"We raised $3 million in our seed round, $27.5 million in our Series A round (including an extension round), and $2.5 million in a recent insider round," Clinton Bembry, Slingshot's co-founder and CEO, told The Block. The total amount had not been previously reported.

Magic Eden, meanwhile, has raised $147 million in total funding to date from investors such as Paradigm, Sequoia Capital, Coinbase Ventures and Electric Capital.

Lu confirmed the acquisition has been fully completed, with no pending approvals, after discussions began with the Slingshot team late last year. "It's our first real acquisition. We did a small acquihire before, but nothing on this scale," he said, declining to provide details of the acquihire.

All members of the Slingshot team will be joining Magic Eden. Bembry declined to specify the exact size of the team, citing competitive reasons, but said it falls between 11 and 50 people. Magic Eden currently employs just over 150 full-time staff and has no immediate plans to expand significantly, Lu said.

Both companies worked directly on the deal, with legal support from Cooley and Cahill, according to Lu.

Notably, the Slingshot acquisition marks the second exit for Bembry, whose earlier crypto startup, Astro Wallet, was acquired by Coinbase in 2019.

The Funding newsletter: Stay updated on the latest crypto funding, deals and trends with my free bimonthly newsletter, The Funding. Sign up here!

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.