This Week in Crypto: Trump’s Tariffs Shake Global Markets, UAE Taps Shiba Inu, and More

This week, the crypto market recorded several important developments, from US trade policies and token listings to blockchain and regulatory advancements.

BeInCrypto presents a weekly roundup of crucial cryptocurrency events. This week, we cover Trump's tariffs, Shiba Inu's UAE integration, Coinbase's new altcoin listings, a key SEC litigator's reassignment, UBS bringing gold trading to blockchain, and XRP ETF eyes SEC approval.

This week saw several crucial developments that will continue shaping the cryptocurrency sector. BeInCrypto brings you a quick roundup.

Trump's Tariffs Shake Global Markets

BeInCrypto reported earlier this week on US President Donald Trump proposing tariffs against Canada, Mexico, and China. This new round of trade restrictions was aimed at protecting domestic industries.

Following the initial announcement, both Canada and Mexico pushed back, leading to temporary delays in some tariff applications. Notably, Mexico secured a short-term reprieve as both nations entered new negotiations with the US government.

“We had a good conversation with President Trump with great respect for our relationship and sovereignty; we reached a series of agreements. Our teams will begin working today on two fronts: security and trade. Tariffs will be paused for one month from now,” shared Mexican President Claudia Sheinbaum on X (Twitter).

Against this backdrop, analysts observed Bitcoin's Coinbase Premium Index hitting a 2025 high, indicating increased demand in North America. Investors appear to be shifting toward Bitcoin as a hedge against possible economic instability caused by these trade policies.

Meanwhile, China retaliated, imposing a 10% tariff on US crude oil and agricultural machinery on its exports to the US. While this reignited fears of another prolonged trade war, some analysts argue that China's latest tariffs may not have as severe an impact as initially feared.

UAE Taps Shiba Inu

As BeInCrypto also reported, the United Arab Emirates (UAE) is advancing its aggressive push toward becoming a global leader in Web3 adoption. This week, we saw Shiba Inu (SHIB) being selected to integrate blockchain into various government services. The partnership will facilitate blockchain-based solutions across sectors, improving efficiency and security.

“By embracing emerging technologies, we aim to set a global benchmark for innovation, delivering transformative solutions that benefit both our citizens and the wider community,” stated His Excellency Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at UAE's Ministry of Energy and Infrastructure.

Beyond this collaboration, the UAE remains one of the most crypto-friendly jurisdictions, reinforced by its tax exemption policy for digital asset firms. With no corporate tax levied on crypto businesses, the country attracts global blockchain firms and talent, positioning itself as a pivotal player in the digital economy.

The price of Shiba Inu briefly surged after the announcement. At press time, the meme coin was trading at $0.00001563.

Coinbase Mulls Two Altcoins for Listing

Coinbase, the largest US-based crypto exchange, added two new altcoins — Ether.fi (ETHFI) and Bittensor (TAO) — to its listing roadmap. Following the announcement, the tokens' values surged by nearly 40%, reflecting the typical price action seen when assets gain visibility on major exchanges.

Historically, tokens listed on Coinbase or Binance exchange tend to witness significant price appreciation due to increased accessibility and liquidity. For example, Binance's recent addition of AI-powered altcoins led to price spikes across the sector. Similarly, the TOSHI token soared upon the Coinbase listing announcement.

Cognizant of such turnouts, investors often monitor these listing announcements in a calculated attempt to capitalize on expected gains.

SEC Litigator Reassignment

The US Securities and Exchange Commission (SEC) recently reassigned one of its lead litigators to the agency's IT department. What made this move surprising, however, was that the litigator, Jorge Tenreiro, was pivotal in the high-profile Ripple (XRP) case.

Ripple has been in a legal battle with the SEC over classifying XRP as a security, and this reassignment suggests a possible shift in regulatory focus. Specifically, it fueled speculation that the SEC might be stepping back from its aggressive approach toward XRP. It also meant a possible imminent end to the longstanding case.

Indeed, the commission has given several hints that it will drop the Ripple case. Most recently, the SEC completely removed the lawsuit from its website. Reassigning Tenreiro to a non-crypto-related role further suggests that the lawsuit might be coming to an end.

These changes follow the recent resignation of former SEC chair Gary Gensler. In his place, SEC commissioner Mark Uyeda stepped in as interim chair, potentially laying the groundwork for Paul Atkins.

UBS Brings Gold Trading to Blockchain

Adding to the list of interesting things that happened in crypto this week, we saw UBS unveil a new initiative. BeInCrypto reported that the Swiss banking giant integrated gold trading with blockchain technology.

The bank is leveraging Ethereum's zkSync layer-2 to facilitate secure and transparent gold transactions on the blockchain. This marks another significant step in traditional finance (