What Would Empty U.S. Shelves Mean for Crypto? | COINDESK DAILY
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 1 May 2025
⏱️ 4 minutes
🧾️ Download transcript
Summary
Host Christine Lee breaks down the latest news in the crypto industry with the focus on the impact of U.S. President Donald Trump’s reciprocal tariffs.
The impact of U.S. President Donald Trump’s reciprocal tariffs are starting to be felt, sending bitcoin higher as odds of a Fed rate cut in May improve. Plus, Robinhood, Microsoft and Meta earnings beat estimates and Ripple's offer to buy Circle was rejected. CoinDesk's Christine Lee hosts "CoinDesk Daily."
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This episode was hosted by Christine Lee. “CoinDesk Daily” is produced by Christine Lee and edited by Victor Chen.
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Transcript
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| 0:43.9 | Wondery, UK. That's audible.com slash Wondery UK. |
| 0:49.7 | The US may see fewer items on store shelves this month as Trump's tariffs kick in and investors |
| 0:56.1 | flee to Bitcoin. It's Thursday, May 1st, 2025. I'm Christine Lee. This is Going Ness Daily. |
| 1:06.7 | The impact of U.S. President Donald Trump's reciprocal tariffs is starting to be felt as the U.S. economy contracted for the first time in three years last quarter, and stock prices have seen their worst first 100-day performance of a presidential administration since 1974. |
| 1:23.4 | Trump blaming the declining market on former President Joe Biden on true social, assuring that they have nothing to do with tariffs and companies will move into the USA in record numbers. |
| 1:34.4 | But supply chain disruptions tied to recent U.S. tariffs and reduced imports from China are expected to be felt significantly starting in May, with potential for widespread impact by June and July. |
| 1:45.8 | This could lead to shortages reminiscent of COVID-era disruptions. |
| 1:49.6 | The National Retail Federation estimates a 20% import drop in the second half of 2025, |
| 1:55.5 | exacerbating delays and price hikes. |
| 1:58.0 | Despite this, Bitcoin has shown remarkable resilience outperforming the NASDAQ by 11% |
| 2:02.5 | since Trump's Tariff Liberation Day on April 2nd. While first quarter GDP fell 3 tenths of a percent |
| 2:08.1 | and major stock indexes posted losses last month, Bitcoin held strong, rising nearly 15% against the dollar |
| 2:14.3 | in April as investors started using it as a safe haven, along with gold and the Swiss franc. |
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