Bitcoin breaks through $81,000 after Trump suspends tariffs; U.S. lawmakers push to accelerate cryptocurrency legislation; Magic Eden acquires Slingshot Finance. The Trump administration announced a 90-day suspension of tariffs on all goods outside of China, driving Bitcoin's price up over 5%. U.S. lawmakers are intensifying efforts to draft comprehensive cryptocurrency regulations following the Department of Justice's announcement to shut down its cryptocurrency enforcement division. The NFT marketplace on the Solana platform, Magic Eden, has acquired the crypto trading app Slingshot Finance, aiming to compete with centralized exchanges. Grayscale Investments has appointed former BlockTower executive Diana Zhang as Chief Operating Officer. Former Ethereum developer Virgil Griffith has been released after serving part of his sentence.

The following is adapted from The Block’s newsletter,The Daily, which comes out on weekday afternoons.It's Wednesday. The crypto markets have rebounded somewhat thanks to mostly favorable tariff news (except for China) from the Trump administration. Other people are hearing good news today as well — especially Virgil Griffith, the former Ethereum developer who got out of prison.In today's newsletter, bitcoin reaches $81,000 after Trump issues a 90-day pause on all tariffs except for China, United States lawmakers hope to speed up crypto legislation, Solana-based NFT platform Magic Eden buys the crypto trading app Slingshot Finance and more.Meanwhile, the crypto asset manager Grayscale Investments appoints former BlockTower exec Diana Zhang as its new chief operating officer.Let's get started.Bitcoin jumped over 5% to exceed $81,000 after President Donald Trump raised tariffs on China to 125% in response to Beijing's trade moves.U.S. lawmakers are intensifying efforts to create comprehensive crypto regulations after the Department of Justice (DOJ) announced that it will close its crypto enforcement unit.NFT marketplace Magic Eden has made its first major acquisition by purchasing Slingshot Finance in a bid to rival centralized exchanges.The crypto exchange Binance is introducing LDUSDT, a new reward-bearing margin asset that allows users to trade crypto futures while still earning passive rewards from locked USDT.Former Ethereum Foundation developer Virgil Griffith has been released on parole after serving part of a reduced 56-month sentence for violating U.S. sanctions.Never miss a beat withThe Block's daily digestof the most influential events happening across the digital asset ecosystem.

Bitcoin breaks through $81,000, Magic Eden acquires Slingshot Finance, and the U.S. accelerates crypto legislation.