Binance CEO Richard Teng Says Tariff Turmoil Could Boost Crypto as Safe Haven

Binance CEO Richard Teng believes that escalating macroeconomic uncertainty, driven by intensifying tariff disputes, could benefit the cryptocurrency market over the long term. Teng argues that global financial instability may prompt more investors to turn to crypto as a non-sovereign store of value, particularly during times of extreme market volatility.

In recent comments, Teng emphasized that many long-term holders view cryptocurrencies like Bitcoin as resilient, especially when traditional financial systems face turbulence. His remarks come amid growing concerns about the impact of rising U.S. tariffs on China, which have rattled global markets and fueled fears of a renewed trade war.

Despite Bitcoin showing limited movement on "Liberation Day," it later plunged in tandem with global equities. On Monday, BTC dropped to a multi-month low of $74,434, reflecting broader market anxiety. It briefly recovered but remained volatile, reacting sharply to tariff-related headlines. As of the latest data, Bitcoin is trading at $77,423, hitting a new intraday low following reports that the U.S. will raise tariffs on Chinese goods to 104% starting Wednesday.

Meanwhile, market voices like Michael Saylor continue to promote Bitcoin as “digital gold,” reinforcing its appeal as a hedge in uncertain times. At the same time, altcoins like XRP are also making headlines, outperforming Ethereum, Dogecoin, and Solana in key profitability metrics, even as the market faces an 8,900% liquidation imbalance that stunned XRP bulls.

Teng’s outlook highlights a growing belief among crypto leaders that financial instability could accelerate crypto adoption, positioning digital assets as safe havens in an increasingly unpredictable global economy. As traditional markets face growing risks, crypto’s unique value proposition may become more compelling to institutional and retail investors alike.