Binance CEO Richard Teng has recently addressed the growing discourse surrounding tariff escalation, emphasizing its implications for the cryptocurrency market. In light of increasing trade protectionism, he notes that global markets face acute volatility, with the crypto sector particularly affected. This macro uncertainty typically results in a flight to safety, where investors prefer to wait for clarity on economic growth, policies, and trade relations.
Teng argues that, paradoxically, such conditions could enhance the allure of cryptocurrencies as a non-sovereign store of value. As traditional markets grapple with instability, many long-term investors increasingly regard Bitcoin and similar digital assets as reliable alternatives during economic strife and fluctuating policy frameworks. This trend suggests a potential shift in investor sentiment towards cryptocurrencies amidst turbulent market conditions.