Two prominent voices in crypto investing—Arthur Hayes and Dan Tapiero—are framing the latest wave of U.S. tariffs as a symptom of deeper structural issues in the global financial system, arguing that Bitcoin (CRYPTO: BTC) may stand to benefit from the resulting distortions.
The comments come amid heightened trade tensions following sweeping tariff announcements by the U.S., intended to counter foreign exchange manipulation, persistent trade deficits, and sluggish domestic growth.
But for Hayes, co-founder of BitMEX, and Tapiero, founder of 10T Holdings and DTAP Capital, these are not isolated policy decisions—they reflect a system under pressure.
“I LOVE TARIFFS,” Hayes wrote on X on Friday, sharing a chart showing the widening gap between the U.S. current account and financial account balances. “Global imbalances will be corrected, and the …
The new trade tariffs announced by US President Donald Trump may place added pressure on the Bitcoin mining ecosystem both domestically and globally, according to one industry executive.
While the US is home to Bitcoin (BTC) mining manufacturing firms such as Auradine, it’s still “not possible to make the whole supply chain, including materials, US-based,” Kristian Csepcsar, chief marketing officer at BTC mining tech provider Braiins, told Cointelegraph.
On April 2, Trump announced sweeping tariffs, imposing a 10% tariff on all countries that export to the US and introducing “reciprocal” levies targeting America’s key trading partners.
Community members have debated the potential effects of the tariffs on Bitcoin, with some saying their impact has been overstated, while others see them as a significant threat.
Tariffs compound existing mining challenges
Csepcsar said the mining industry is already experiencing tough times, pointing to key indicators like the BTC hashprice.
Hashprice — a measure of a miner’s daily revenue per unit of hash power spent to mine BTC blocks — has been on the decline since 2022 and dropped to all-time lows of $50 for the first time in 2024.
According to data from Bitbo, the BTC hashprice was still hovering around all-time low levels of $53 on March 30.
Bitcoin hashprice since late 2013. Source: Bitbo
“Hashprice is the key metric miners follow to understand their bottom line. It is how many dollars one terahash makes a day. A key profitability metric, and it is at all-time lows, ever,” Csepcsar said.
He added that mining equipment tariffs were already increasing under the Biden administration in 2024, and cited comments from Summer Meng, general manager at Chinese crypto mining supplier Bitmars.
“But they keep getting stricter under Trump,” Csepcsar added, referring to companies such as the China-based Bitmain — the world’s largest ASIC manufacturer — which is subject to the new tariffs.
Trump’s latest measures include a 34% additional tariff on top of an existing 20% levy for Chinese mining imports. In response, China reportedly imposed its own retaliatory tariffs on April 4.
BTC mining firms to “lose in the short term”
Csepcsar also noted that cutting-edge chips for crypto mining are currently massively produced in countries like Taiwan and South Korea, which were hit by new 32% and 25% tariffs, respectively.
“It will take a decade for the US to catch up with cutting-edge chip manufacturing. So again, companies, including American ones, lose in the short term,” he said.
Csepcsar also observed that some countries in the Commonwealth of Independent States region, including Russia and Kazakhstan, have been beefing up mining efforts and could potentially overtake the US in hashrate dominance.
“If we continue to see trade war, these regions with low tariffs and more favorable mining conditions can see a major boom,” Csepcsar warned.
As the newly announced tariffs potentially hurt Bitcoin mining both globally and in the US, it may become more difficult for Trump to keep his promise of making the US the global mining leader.
Trump’s stance on crypto has shifted multiple times over the years. As his administration embraces a more pro-crypto agenda, it remains to be seen how the latest economic policies will impact his long-term strategy for digital assets.
Cryptocurrency exchange OKX is under renewed regulatory scrutiny in Europe after Maltese authorities issued a major fine for violations of Anti-Money Laundering (AML) laws.
Malta’s Financial Intelligence Analysis Unit (FIAU) fined Okcoin Europe — OKX’s Europe-based subsidiary — 1.1 million euros ($1.2 million) after detecting multiple AML failures on the platform in the past, the authority announced on April 3.
While admitting that OKX has significantly improved its AML policies in the past 18 months, the authority “could not ignore” its past compliance failures from 2023, “some of which were deemed to be serious and systematic,” the FIAU notice said.
The news of the $1.2 million penalty in Malta came after Bloomberg in March reported that European Union regulators were probing OKX for laundering $100 million in funds from the Bybit hack.
Bybit CEO Ben Zhou previously claimed that OKX’s Web3 proxy allowed hackers to launder about $100 million, or 40,233 Ether (ETH), from the $1.5 billion hack that occurred in February.
This is a developing story, and further information will be added as it becomes available.
The Treasury Department took action against a Houthi financial network, imposing sanctions on cryptocurrency wallets used by the Iran-backed militant group to fund its war machine.
What Happened: According to a Wednesday press release, the Department of the Treasury’s Office of Foreign Assets Control identified eight digital wallets used by the Yemen-based group to help procure millions worth of weapons and commodities, including stolen Ukrainian grain, from Russia.
The sanctions targeted Russian-based Afghan nationals Hushang and Sohrab Ghairat, who have facilitated commercial operations on behalf of the Houthis, and particularly Sa’id al-Jamal, who had cryptocurrency addresses included in his December 2024 sanctions designation.
Further investigation by Chainalysis, a firm that tracks illicit cryptocurrency activity, revealed that the …
Earlier this week, Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google removed the mailing list for the Bitcoin (CRYPTO: BTC) developer group Bitcoindev, citing “policy violations,” prompting Jack Dorsey to call out the company’s approach.
What Happened: Bitcoin developer Ruben Somsen took to X, formerly Twitter, and said that Google had “permanently removed” the mailing list for Bitcoindev, the developers’ group behind Bitcoin, for alleged “illegal content” or “policy violations.”
Somsen expressed confusion, stating that no inappropriate content had been posted, and questioned why Google considered open-source Bitcoin development “unwanted.”
Authorities in the US state of Massachusetts continue targeting unlawful cryptocurrency market practices, with a local court fining crypto financial services firm CLS Global.
A federal court in Boston on April 2 sentenced CLS Global on criminal charges related to fraudulent manipulation of crypto trading volume, according to an announcement from the Massachusetts US Attorney’s Office.
In addition to a $428,059 fine, the court prohibited CLS Global from offering services in the US for a probation period of three years.
CLS Global, a crypto market maker registered in the United Arab Emirates, in January pleaded guilty to one count of conspiracy to commit market manipulation and one count of wire fraud.
CLS agreed to manipulate the FBI’s “trap token” NexFundAI
The charges against CLS Global followed an undercover law enforcement operation involving NexFundAI, a token created by the FBI as part of a sting operation in May 2024.
CLS Global was among at least three firms that took the FBI’s bait and agreed to provide “market maker services” for NexFundAI, including a fraudulent scheme to attract investors to purchase the token.
In October 2024, the Securities and Exchange Commission announced fraud charges against CLS and its employee, Andrey Zhorzhes. The US securities regulator also filed complaints against two other NexFundAI manipulators, Hong Kong-linked ZM Quant Investment and Russia-linked Gotbit Consulting.
CLS Global’s profile
According to CLS Global CEO Filipp Veselov, the company was founded in 2017 to fill in a “huge gap in the market for high-quality market-making solutions and trading consulting.”
Prior to CLS, Veselov worked at the Russian cryptocurrency exchange platform Latoken, which is advertised as a “global digital asset exchange” and has about 370,000 followers on X.
The CLS team also includes chief revenue officer Pavel Singaevskii, who previously served as sales manager at Stex, a crypto platform that reportedly ceased operations without warning in 2023.
According to CLS Global’s X page, the platform continues operating and has more than 110,000 followers at the time of publication.
How much wash trading is in crypto?
Wash trading is an illegal practice involving artificially inflating trading volume by repeatedly buying and selling the same asset, generating a misleading perception of demand.
According to a January 2025 report by the US blockchain analytics firm Chainalysis, the crypto market has at least $2.6 billion in estimated wash traded volumes, or just about 2% of total daily crypto trading volumes, as reported by CoinGecko.
Estimated wash trade volume in crypto. Source: Chainalysis
The value locked in Bitcoin-based decentralized finance (BTCFi) has surged by more than 2,700% over the past year, potentially transforming Bitcoin from a passive store of value into a productive, yield-bearing asset, according to new research from Binance.
BTCFi is a new technological paradigm that aims to bring decentralized finance capabilities to Bitcoin’s base layer. It is one of the fastest-growing crypto sectors, reaching a total value locked (TVL) of over $8.6 billion.
The growing value of BTCFi, “along with potential interest rate cuts, may reinforce positive sentiment for Bitcoin in the medium and long term,” Binance Research wrote in a report shared with Cointelegraph.
Bitcoin DeFi, total value locked, 2025 chart. Source: Binance Research
If the BTCFi sector’s growth trajectory continues, it could open up “new opportunities for Bitcoin holders to generate yield through lending, liquidity provision, and other DeFi mechanisms,” a Binance spokesperson told Cointelegraph, adding:
“This may contribute to a shift in how BTC is perceived — from a passive store-of-value to a productive on-chain asset. While it’s too early to determine the full impact, these evolving use cases could support broader adoption and, over time, strengthen demand.”
Interest in BTCFi surged after April 2024’s Bitcoin halving, which introduced the Runes protocol, the first fungible token standard on the Bitcoin blockchain.
Several Bitcoin-native projects have helped accelerate the trend.
Babylon introduced Bitcoin (BTC) staking for the first time in the network’s history, enabling holders to earn passive income from their assets.
Long-term Bitcoin holders have restarted their BTC accumulation after the BTC supply held by long-term holders bottomed in February.
BTC supply held by long-term holders. Source: Glassnode, Binance Research
Long-term holders are wallets that have been holding BTC for at least 155 days. Growing accumulation from long-term holders has reduced the available Bitcoin supply on exchanges, which may eventually lead to a supply shock-driven price rally.
The growing accumulation trend among long-term holders aligns with a “significant period of adoption for Bitcoin,” due to the establishment of the US strategic Bitcoin reserve and growing institutional interest, according to the research report.
Zero-click attacks allow bad actors to access your cryptocurrencies without any input from you.
Imagine opening your crypto wallet one day and discovering that it’s all gone. You didn’t download any viruses or click on suspicious links. The funds just aren’t there. It’s possible you have fallen victim to a zero-click attack.
A zero-click attack is a digital threat that allows hackers to access your wallet without any interaction from you.
While having your wallet hacked without clicking anything sounds impossible, these threats are the latest to watch out for if you want to protect your crypto wallet.
How zero-click attacks work
Zero-click attacks are the latest in an endless variety of crypto wallet hacks.
Typically, hackers gain access to your wallet when you accidentally download malicious software or click on a suspicious link, also known as crypto phishing attacks.
However, a zero-click crypto attack executes code without any action required by you. This lack of interaction is what makes them so threatening.
Instead of relying on user error, zero-click attacks access your wallet through flaws in your device’s software, be it a PC or mobile phone.
Picture a burglar breaking your door not because you forgot to lock it but because they took advantage of a flaw in your door’s manufacturing. Zero-click attacks work similarly but in a virtual environment, often targeting mobile devices.
Did you know? Zero-click attacks aren’t exclusive to crypto. These software-threatening assaults have been around since the early 2000s, initially targeting messaging apps and email clients. Now, they’re how wallets get hacked.
How hackers target wallets with a zero-click attack
Zero-click malware targets you through programming weaknesses.
Here are some common ways zero-click attacks can target you.
Software weaknesses
If your Android phone receives an update with a specific security flaw, a bad actor can exploit that vulnerability by simply texting you a particular set of words. Once you receive the text, it may activate that flaw and give the hacker complete control. From there, they’ll commit a wallet security breach.
Similarly, hackers can target iOS devices through everyday apps like iMessage or Airdrop. In April 2024, Trust Wallet shared “credible intel” of a zero-click attack on iOS devices. The group recommended users with a crypto wallet installed disable iMessage to protect themselves until Apple produces an update.
While Trust Wallet classified this issue as a zero-day exploit, the company acknowledged that the attack could take over devices without user input, making it a clear example of a zero-click attack.
Network weaknesses
Targeted attacks can breach your wallet software through proximity if you’re connected to a public wi-fi network, like at a coffee shop. The same applies to open Bluetooth connections.
Here’s how it works: open networks transmit your unencrypted data between devices. Hackers can intercept those packets and send malware through them, targeting any devices with a specific software vulnerability.
Any connection to your device — be it wi-fi, Bluetooth, or some other one — is a potential opportunity for a zero-click attack. That’s what makes these attacks so alarming. They can come out of nowhere. One day, a bad actor finds a way to take advantage of your device and exploits it.
Decentralized application (DApp) weaknesses
Most crypto wallets interact with Web3 apps, also known as DApps. Notably, the barrier to entry for creating a DApp is relatively low, but security measures can vary greatly.
Even if you’re using a trusted Web3 service, its code can be vulnerable to zero-click attacks anytime. Bad actors can use that weakness, such as an error in the DApp’s smart contract programming, to access your wallet.
While it can be fun to interact with new DApps, consider using a wallet holding minimal funds. That way, you can test the application while mitigating the damage from a potential zero-click wallet hack.
While attacks caused by such vulnerabilities may seem completely unfair, there are steps you can take to protect yourself.
What if you’ve fallen victim to a zero-click attack?
Suspect you’ve fallen victim to a zero-click attack? Immediately transfer your assets.
If you suspect you’ve fallen victim to a zero-click attack, follow these steps to protect your crypto assets:
Disconnect your device: Disconnect the device from the internet immediately.
Transfer assets: Secure your Web3 wallet. Transfer your assets to another device using your wallet’s recovery phrase.
Run an anti-virus check: Once your assets are safely stored on an uncompromised device, install anti-virus software to scan for any threats.
Did you know? Zero-click attacks are different from zero-day attacks. Zero-click attacks can happen without interaction, while zero-day attacks require clicking on something or opening a file.
Security best practices to protect against a zero-click attack
Zero-click attacks may be scary, but wallet exploit prevention steps exist to protect yourself.
To protect yourself from zero-click attacks, consider adopting these crypto-security best practices:
Turn off auto-receive: Turn off auto-receive for texts and multimedia in any messaging apps you use.
Minimize Bluetooth usage: Keep Bluetooth off when you’re not using it. This step limits access points for some zero-click attacks.
Monitor your wallet connection history: Regularly check your wallet connection history. Consider moving your assets to another wallet if you notice transactions with an unknown source.
Utilize a hardware wallet:Hardware wallets are USB-like devices that store your cryptocurrencies offline. Since hardware wallets are disconnected, they’re safer from cyber threats like zero-click attacks. This is always one of our top wallet security tips.
Use a multisignature wallet:Multisignature crypto wallets require multiple approvals before executing a transaction. This added layer of protection can significantly reduce the risk of unauthorized transactions.
Update apps and software: Keep your apps and device software up to date. Updates often introduce new protections and bug fixes that can prevent zero-click attacks.
Install anti-virus software: Anti-virus software regularly scans your device for abnormalities, warning you of anything suspicious.
Back up your data: Most devices automatically back up your data regularly. Enable auto-backups to roll back to a previous version if your device is compromised.
Tighten up app permissions: Adjust your app permissions to require manual input for activities like wallet transactions. That way, nothing can happen without your input.
Two-factor authentication (2FA):Add 2FA to your important log-ins. That way, you’ll be notified if a threat attempts to access your wallet.
Use a VPN: VPNs encrypt your internet traffic, making it harder for hackers to intercept your data.
Pay attention: Perhaps the most important protection is to pay attention. Browse social media like Reddit for emerging threats, follow credible cybersecurity sources, and take the proper precautions. You can never be too safe.
How to check for a zero-click attack
Zero-click attacks may appear out of nowhere, but there are signs of invasion.
If you’re suspicious of a zero-click attack but aren’t sure, watch out for these signs:
Faster battery drain: If the attack installs malware, your device battery may drain faster. You can check your battery health in your device settings.
Slower device performance: Alongside faster battery drain, you may notice your device running slower than usual.
Random app installs: Occasionally, zero-click attacks may install apps without your approval. If you notice an app you never installed, be wary.
Unknown background processes: If your phone suddenly has new background processes going on, delve a bit deeper. These processes may be the result of a zero-click attack.
Increased data usage: You can also check your device’s data usage. If you notice a spike in data consumption, it may be time to run a virus scan.
Unusual text messages: If you receive unrecognized text messages or emails, block the sender immediately.
These attacks may not happen right away but can lie awaiting a specific trigger.
The future of zero-click attacks
Zero-click attacks are hardly a new threat. They’ll continue to evolve just as security processes will.
As crypto technology continues to evolve, so will crypto cybersecurity threats. Crypto wallets operate without a central authority, meaning crypto wallet security falls entirely on you. This autonomy makes crypto wallets a target for hackers, meaning delving into the space comes with risk.
Additionally, as artificial intelligence (AI) becomes more advanced, bad actors may leverage it to develop even more complex zero-click spyware. Future threats could include code that auto-updates after infecting your device, protecting itself from whatever you throw at it.
Protecting yourself from these threats is more important than ever. You can do so by following cybersecurity experts and blogs and abiding by strong security best practices. The best protection against zero-click or any form of attack is to evolve with them.
