The decision by U.S. President Donald Trump to temporarily pause tariffs on Mexico and Canada gave the cryptocurrency market a much-needed boost, following sharp losses after his initial tariff proposal. Market Reacts The move, which came after discussions with Canadian Prime Minister Justin Trudeau, also saw the announcement of a $1.3 billion border security plan between the U.S. and Canada. Meanwhile, tariffs on Mexico were similarly delayed, with both governments agreeing on a series of trade and security measures. The crypto market quickly rebounded, with Bitcoin (BTC) climbing past $100,000 and Ethereum (ETH) recovering to $2,800 after significant drops. Speculation also grew about potential Bitcoin investments after Trump signed an executive order exploring a U.S. sovereign wealth fund, which was also supported by Senator Cynthia Lummis. Big Leadership Changes Treasury Secretary Scott Bessent was appointed acting director of the CFPB after Trump removed Rohit Chopra, though the reasons behind the change remain unclear. Trump also recently fired former SEC Chair, Gary Gensler, after years of Gary waging a one-man war on the crypto industry. Trump has also been busy positioning his preferred candidates in leadership roles at major U.S. financial regulatory bodies, contributing to an overall shift in sentiment that saw the Crypto Fear & Greed Index rise into the Greed zone.
