Here’s what happened in crypto today
Today in crypto, crypto gaming and gambling campaigns are proving tougher to onboard crypto users than other sectors of the industry, Trump exempts select electronics from trade tariffs, former Binance CEO Changpeng Zhao denied reports that he agreed to testify against Justin Sun, calling them baseless and politically motivated.Crypto gaming and gambling ads ‘most expensive’ for onboarding usersCrypto gaming and gambling campaigns are the most expensive way to acquire users with existing crypto wallets, ranking highest in cost among all sectors of the crypto industry, recent data shows.“Gaming and gambling campaigns are the most expensive, with a median CPW of $8.74 and a lower quartile of $3.40,” Web3 marketing firm Addressable co-founder Asaf Nadler said in a recent report posted on X. CPW, or cost per wallet, is deemed a higher “quality” metric because it tracks the cost of website visitors with a crypto wallet already installed in their browser.Nadler previously told Cointelegraph that their analysis data showed that users with a wallet are more likely to convert to crypto products.Select electronics spared from reciprocal tariffsSelect electronic products, including smartphones, processing chips, and computers are exempt from ‘reciprocal’ tariffs under President Trump’s sweeping tariff order, a relief to US tech companies and shareholders.According to a release from the US Customs and Border Protection, other consumer electronics such as internet modems, storage devices, and components such as semiconductors are also exempt from the additional reciprocal tariffs.The price of Bitcoin surged by approximately 2.5% on the same day of the announcement and broke the $85,000 level. Bitcoin's price reaction could signal that at least some investors are entering the market again as risk appetite rebounds on positive macro headlines.CZ claps back against “baseless” US plea deal allegationsChangpeng “CZ” Zhao, former CEO of Binance, has denied claims that he agreed to provide evidence against Tron founder Justin Sun as part of a plea deal with the United States Department of Justice (DOJ).In an April 11 report, The Wall Street Journal cited unnamed sources alleging that CZ had agreed to testify against Sun under the terms of his settlement with US prosecutors.“As part of Zhao’s plea deal, he agreed to give evidence on Sun to prosecutors,” an “arrangement” that “hasn’t previously been reported,” the WSJ report stated, citing sources familiar with the matter.“WSJ is really TRYING here. They seem to have forgotten who went to prison and who didn't,” Zhao wrote in an April 12 X post. “People who become gov witnesses don’t go to prison. They are protected. I heard someone paid WSJ employees to smear me.”CZ was sentenced to four months in prison in April 2024 for Anti-Money Laundering (AML) violations. He walked free from federal prison on Sept. 27 as the wealthiest person to ever serve a US prison sentence, with a $60 billion net worth at the time.In a separate April 11 post, CZ claimed multiple individuals had warned him about the Journal’s intentions to publish what he described as a “hit piece.”