😱 BTC Plunged to $81K as Trump's Trade War Begins

gm Defiers!

In the wake of President Trump’s new trade tariffs, BTC has suffered a 6% dip, while liquidations totaled over half a billion dollars. Meanwhile, DeFi vault protocol Veda is expanding to Solana.

In other news, Uniswap DAO is pushing forward with a $111 million governance initiative while FDUSD briefly depegged after Justin Sun’s insolvency claims, causing a stir in the stablecoin market.

✍️ In today’s newsletter:

BTC plunges 6% following Trump’s tariffs
Study: 1 in 5 Americans own cryptocurrency
Weekly Ethereum blob fees drop 73%
Coinbase: Crypto and blockchain can enhance government efficiency
Uniswap DAO launches $111 million program to boost governance
$38 trillion in U.S. assets still excludes Bitcoin
FDUSD depegs after Justin Sun insolvency allegations
Exclusive: vault protocol Veda expands to Solana

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Catch up on our interview with Tarun Gupta, founder and CEO of Coinshift, as he shares his shares his vision for a stablecoin that evolves beyond the boundaries of traditional blockchain finance.

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😱 Bitcoin Plunges 6% as Trump’s Tariffs Spark $500 Million of Liquidations

The cryptocurrency market recorded a sharp decline on Thursday, with over half a billion dollars in liquidations, following the announcement of reciprocal trade tariffs by President Donald Trump.

Bitcoin dropped 5.6% to $81,600, while Ethereum, XRP, and Solana also experienced losses.

💰55 Million Americans Use Crypto — And Construction Workers Are Big Fans: Report

According to the 2025 State of Crypto Holders Report by the National Cryptocurrency Association (NCA), released on April 2, 55 million U.S. adults are using crypto, with 76% reporting it positively impacts their lives.

The report, based on a Harris Poll survey of 54,000 respondents, including 10,000 crypto owners, shows that 1 in 5 Americans own cryptocurrency.

📉Weekly Ethereum Blob Fees Plummet 73% to Lowest Levels Since Start of 2025

According to blockchain data explorer Etherscan, Ethereum recorded its lowest weekly blob fees of the year from March 24 to March 30, generating only 3.18 ETH (roughly $5,700).

This marks a 73% decrease from the 11.25 ETH ($20,160) generated the previous week.

🏦Government Efficiency Can Be Vastly Improved by Crypto and Blockchain: Coinbase

A new Coinbase blog post highlights how blockchain and cryptocurrency can modernize and enhance government efficiency by reducing waste.

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Stablecoins are exploding, projected to hit $230 billion in 2025, bridging traditional finance and blockchain. Leaders like Tether and Circle, alongside innovations like Ethena’s yield-generating USDe, are driving adoption. They’re slashing cross-border payment times and costs, and powering DeFi’s growth. But are they a valuable inroad for institutions or a Trojan horse? As on-chain finance continues to grow and innovate, banks and other established financial institutions face a choice: adapt or risk obsolescence. Will stablecoins empower traditional finance to capitalize on the new value being generated by Web3, or serve as the seed for decentralization? Platforms like Stellar that enable compliant issuance may offer a middle path.