Hayes: Chinese Tariff Retaliation May Spark New Wave of Crypto Capital
Original Title: China's tariff response may mean more capital flight to crypto: Hayes
Original Author: Martin Young, CoinTelegraph
Original Translation: Deng Tong, Golden Finance
BitMEX co-founder Arthur Hayes said that China's response to the U.S. full trade tariffs may lead to capital flight to Bitcoin and cryptocurrency.
"If not the Fed, then the PBoC will be providing us the material for a Yahtzee," Hayes said on X on April 8, referring to the catalyst needed to reignite the cryptocurrency market bull run.
Hayes stated that if the Renminbi depreciates, "capital will flow into Bitcoin," adding that "it worked in 2013, 2015, and will work in 2025 as well."
Bybit co-founder and CEO Ben Zhou stated that China will attempt to lower the Renminbi exchange rate in response to tariffs, adding that historically, a Renminbi devaluation has been favorable for Bitcoin.
Renminbi vs. USD has weakened since 2022. Source: Google Finance
In August 2015, China devalued the Renminbi against the USD by nearly 2%, marking the largest single-day drop in decades. During this time, Bitcoin did attract some investor interest, although the direct cause-effect relationship remains debated.
When the Renminbi exchange rate broke the symbolic 7:1 mark against the USD in August 2019, Bitcoin's price also surged during the same period. Some analysts believe Chinese investors were using Bitcoin as a hedge, as the asset saw a 20% rise in the first week of that month.
In 2019, cryptocurrency asset management firm Grayscale noted the Renminbi depreciation and attributed it as one factor stimulating the Bitcoin market.
Avoiding Currency Control and Wealth Preservation
According to analysts, affluent Chinese citizens may have used cryptocurrency in the past to preserve wealth, shielding it from government control and evading domestic capital controls and restrictions.
People also believe that currency devaluation will undermine people's trust in central banks and government financial management, prompting them to turn to decentralized alternatives such as Bitcoin.
On April 7, U.S. President Trump threatened to impose additional tariffs on China, to which China responded by stating that it would "fight to the end."
The Chinese Ministry of Commerce stated in a declaration: "If the U.S. implements tariff escalation measures, China will resolutely take countermeasures to defend its own interests."
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BeatSwap is evolving towards a full-stack Web3 infrastructure, covering the entire lifecycle of IP rights.
BeatSwap, a global Web3 Intellectual Property (IP) infrastructure project, is attempting to overcome the current fragmentation limitations of the Web3 ecosystem, building a full-stack system that covers the entire lifecycle of IP rights.
Currently, most Web3 projects are still in the stage of functional fragmentation, often focusing only on a single aspect, such as IP asset tokenization, transaction functionality, or a simple incentive model. This structural dispersion has become a key bottleneck hindering the industry's scale application.
BeatSwap's approach is more integrated, integrating multiple core modules into the same system, including:
· IP authentication and on-chain registration
· Authorization-based revenue sharing mechanism
· User-engagement-driven incentive system
· Transaction and liquidity infrastructure
Through the above integration, the platform builds an end-to-end closed-loop path, allowing IP rights to complete a full cycle of "creation, use, and monetization" within the same ecosystem.
BeatSwap is not limited to existing crypto users but is attempting to take the global music industry as a starting point, actively creating new market demand. Its core strategies include:
Exploring and incubating music creators (Artist discovery)
Building a fan community
Igniting IP-centric content consumption demand
The current global music industry is valued at around $260 billion, with over 2 billion digital music users. This means that the potential market corresponding to the tokenization and financialization of IP far exceeds the traditional crypto user base.
In this context, BeatSwap positions itself at the intersection of "real-world content demand" and "on-chain infrastructure," attempting to bridge the structural gap between content production and financial flow.
BeatSwap's upcoming core product "Space" is scheduled to launch in the second quarter of 2026. This product is defined as the SocialFi layer in the ecosystem, aiming to directly connect creators with users and achieve deep integration with other platform modules.
Key designs include:
A fan-centric interactive mechanism
Exposure and distribution logic based on $BTX staking
User paths connected to DeFi and liquidity structures
Thus, a complete user behavior loop is formed within the platform: Discovery → Participation → Consumption → Rewards → Trading
$BTX is designed to be a core utility asset within the ecosystem, rather than just a simple incentive token, with its value directly tied to platform activity and IP use cases.
Main features include:
· Yield distribution based on on-chain authorized actions
· Value reflection based on IP usage and user engagement dynamics
· Support for staking and DeFi participation mechanisms
· Value growth driven by ecosystem expansion
With the increased frequency of IP use, the utility and value support of $BTX will enhance simultaneously, helping alleviate the "disconnect between value and utility" issue present in traditional Web3 token models to some extent.
Currently, $BTX has been listed on several mainstream exchanges, including:
Binance Alpha
Gate
MEXC
OKX Boost
As the launch of "Space" approaches, BeatSwap is actively pursuing more exchange listings to further enhance liquidity and global accessibility, laying a foundation for future market expansion.
BeatSwap's goal is no longer limited to the traditional Web3 narrative but aims to target over 2 billion digital music users and a trillion KRW-scale content market.
By integrating content creators, users, capital, and liquidity into a blockchain framework centered around IP rights, BeatSwap is striving to build a next-generation infrastructure focused on "IP tokenization."
BeatSwap integrates IP authentication, authorization distribution, incentive mechanism, transaction system, and market construction to establish a unified structure that bridges the full lifecycle path of IP rights.
With the launch of the Q2 2026 "Space," the project is expected to become a key infrastructure connecting content and finance in the IP-RWA (Real World Assets) track.

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BeatSwap is evolving towards a full-stack Web3 infrastructure, covering the entire lifecycle of IP rights.
BeatSwap, a global Web3 Intellectual Property (IP) infrastructure project, is attempting to overcome the current fragmentation limitations of the Web3 ecosystem, building a full-stack system that covers the entire lifecycle of IP rights.
Currently, most Web3 projects are still in the stage of functional fragmentation, often focusing only on a single aspect, such as IP asset tokenization, transaction functionality, or a simple incentive model. This structural dispersion has become a key bottleneck hindering the industry's scale application.
BeatSwap's approach is more integrated, integrating multiple core modules into the same system, including:
· IP authentication and on-chain registration
· Authorization-based revenue sharing mechanism
· User-engagement-driven incentive system
· Transaction and liquidity infrastructure
Through the above integration, the platform builds an end-to-end closed-loop path, allowing IP rights to complete a full cycle of "creation, use, and monetization" within the same ecosystem.
BeatSwap is not limited to existing crypto users but is attempting to take the global music industry as a starting point, actively creating new market demand. Its core strategies include:
Exploring and incubating music creators (Artist discovery)
Building a fan community
Igniting IP-centric content consumption demand
The current global music industry is valued at around $260 billion, with over 2 billion digital music users. This means that the potential market corresponding to the tokenization and financialization of IP far exceeds the traditional crypto user base.
In this context, BeatSwap positions itself at the intersection of "real-world content demand" and "on-chain infrastructure," attempting to bridge the structural gap between content production and financial flow.
BeatSwap's upcoming core product "Space" is scheduled to launch in the second quarter of 2026. This product is defined as the SocialFi layer in the ecosystem, aiming to directly connect creators with users and achieve deep integration with other platform modules.
Key designs include:
A fan-centric interactive mechanism
Exposure and distribution logic based on $BTX staking
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$BTX is designed to be a core utility asset within the ecosystem, rather than just a simple incentive token, with its value directly tied to platform activity and IP use cases.
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· Yield distribution based on on-chain authorized actions
· Value reflection based on IP usage and user engagement dynamics
· Support for staking and DeFi participation mechanisms
· Value growth driven by ecosystem expansion
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Currently, $BTX has been listed on several mainstream exchanges, including:
Binance Alpha
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As the launch of "Space" approaches, BeatSwap is actively pursuing more exchange listings to further enhance liquidity and global accessibility, laying a foundation for future market expansion.
BeatSwap's goal is no longer limited to the traditional Web3 narrative but aims to target over 2 billion digital music users and a trillion KRW-scale content market.
By integrating content creators, users, capital, and liquidity into a blockchain framework centered around IP rights, BeatSwap is striving to build a next-generation infrastructure focused on "IP tokenization."
BeatSwap integrates IP authentication, authorization distribution, incentive mechanism, transaction system, and market construction to establish a unified structure that bridges the full lifecycle path of IP rights.
With the launch of the Q2 2026 "Space," the project is expected to become a key infrastructure connecting content and finance in the IP-RWA (Real World Assets) track.
