Welcome back to another Crypto Daily 3 at 3.

So today we have a little bit of a special edition as well.

For the last two days, I think really since Sunday night,

pretty much the whole crypto community has been talking about China,

Stonks, and BTC.

And so we're going to dig in a little bit more

overarchingly, I guess, about that.

So we'll be back, hopefully, tomorrow, to three different topics.

But I think that this is such an important moment that intersects so many different narratives that I wanted to dig into it a little bit more.

So let's kick off with what actually happened.

So the yuan, China's currency, was devalued on Monday, I guess, or Sunday night, Monday, after threats from Donald Trump around more tariffs against the Chinese.

So he basically, Trump threatened another imposing a 10% tariff on $300 billion worth of Chinese goods,

effectively making it so that all Chinese imports to the U.S. had new duties on them.

And so in response, the PBOC, the Central Bank of China, which, by the way, is not independent, devalued the

UN, the Chinese currency.

And so it went below a kind of an exchange rate of seven to the dollar for the first time

since 2008.

And that obviously triggered response too. So we can see over here,

Arbbed out, I don't know what we're yelling about. Again, this is my point is that this was all

everyone was talking about yesterday. Then never mind, figured it out, Treasury designates China

as a currency manipulator. So Secretary Mnuchin announced basically that the Trump

administration was labeling China as a currency manipulator

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