Crypto Today: Trump Tariffs, Binance Delisting Tokens, and Ripple’s $1.25B Acquisition

Trump’s Tariffs Could Affect Crypto Mining Rig Prices in the US, Benefiting Non-US Miners

The recent tariffs imposed by US President Donald Trump could disrupt the domestic demand for Bitcoin mining rigs, with a significant effect on US-based crypto miners. According to Hashlabs Mining CEO Jaran Mellerud, the new tariffs, which include reciprocal duties on nearly all countries, could cause manufacturers to seek markets outside the US to offload their excess inventory.

Mining rig giants such as Bitmain, MicroBT, and Canaan, who have manufacturing bases in countries like Thailand, Indonesia, and Malaysia, could be hit the hardest by these tariffs. These manufacturers originally shifted operations to circumvent previous trade barriers, such as the 25% tariff on China imposed in 2018. Mellerud suggests that this new policy could result in higher prices for mining rigs in the US, while lowering prices globally as manufacturers try to stay competitive. This price shift could allow non-US mining operations to scale up and capture a larger portion of Bitcoin’s global hashrate.

Source: Jaran Mellerud

Even if the tariffs are eventually rolled back, Mellerud believes the damage to the long-term confidence of US-based miners has already been done, potentially leading to a major reshuffling of global mining power.

Binance to Delist 14 Tokens in Effort to Purge Low-Quality Projects

In an effort to refine its platform and improve the quality of listed assets, Binance has announced the delisting of 14 tokens after a community-driven voting process. The decision, set to take effect on April 16, aims to remove low-performing and low-quality projects that fail to meet the exchange's updated listing criteria.

The delisting follows Binance's inaugural “vote to delist” process, which saw the community nominate tokens with weak metrics. In addition to the community vote, Binance evaluated several factors before reaching the decision, including trading volume, liquidity, team commitment, and project stability. Tokens identified for delisting include Badger (BADGER), Balancer (BAL), Beta Finance (BETA), Cream Finance (CREAM), and others.

Binance’s efforts to enhance its platform by eliminating underperforming assets come at a time when the exchange is adapting to new regulatory requirements and tightening its internal listing processes. The affected tokens will be removed from the platform to streamline Binance’s offerings and ensure better compliance with evolving market standards.

Source: Binance

Ripple Acquires Hidden Road for $1.25 Billion, Expanding into Prime Brokerage Services

In a landmark move, Ripple, the blockchain-based payments network, has announced the acquisition of crypto-friendly prime broker Hidden Road for $1.25 billion. The deal, one of the largest in the cryptocurrency industry to date, is expected to position Ripple as a leader in the global prime brokerage space.

Hidden Road, which facilitates over $3 trillion in annual clearing across more than 300 institutions, will now operate under Ripple’s umbrella. Ripple’s CEO Brad Garlinghouse emphasized that this acquisition would make Ripple the largest non-bank prime broker in the world. Hidden Road's services will now be integrated with Ripple’s XRP Ledger, enabling faster and more efficient trade settlements. Ripple intends to use its XRP-backed stablecoin, Ripple USD (RLUSD), as collateral in Hidden Road’s prime brokerage services, significantly enhancing liquidity and settlement speed in the market.

The acquisition also supports Ripple’s broader strategy to offer institutional-grade financial services that leverage the capabilities of blockchain technology. Ripple’s long-standing relationship with Hidden Road, which has relied on Ripple’s technology for years, laid the groundwork for this transformative deal, signaling the company’s continued evolution in the crypto financial services sector.

Source: Brad Garlinghouse

In conclusion, today's developments in the crypto world include significant regulatory and market changes, from tariff impacts on US-based mining to a shake-up in Binance’s token offerings and Ripple’s bold expansion into prime brokerage services. These events reflect the ongoing transformation and growth of the crypto industry, shaping its future trajectory.