Markets Edge Higher on US-China Tariff News and a Bitcoin vs Tokenized Gold Showdown

Markets saw a flash of optimism Monday as Bitcoin and stock futures climbed while gold dipped, reacting to news that the U.S. has delayed any harsh new tariffs on Chinese goods previously set for November 1.

Trump pardoned’

In an earlier , Trump claimed that the U.S. and China had concluded a deal pending final approval from Chinese President Xi Jinping. According to his statement, China would provide “full magnets and rare earths up front,” while the U.S. would continue allowing Chinese students access to American universities. Trump stated that the agreement included a 55% tariff on American imports from China and a 10% tariff on Chinese imports, calling the bilateral relationship “excellent.”

Market commentators, including economist Peter Schiff, the trade terms. Schiff interpreted Trump’s comments to mean that “Americans are paying 55% tariffs while the Chinese only pay 10%,” arguing that the policy effectively burdens U.S. consumers rather than China.

Schiff, a staunch gold advocate, framed the challenge directly on X (formerly Twitter), proposing a formal debate with CZ centered on a fundamental economic question: Which asset, Bitcoin or tokenized physical gold, better satisfies the three essential properties of money?

This framing cuts to the heart of Schiff’s argument that Bitcoin fails these tests where he believes gold (even in tokenized form) succeeds, and sets up a direct clash with CZ, one of crypto’s most influential figures.

CZ Schiff’s invitation, suggesting that the debate take place during Binance Blockchain Week in Dubai this December.

In his response, Zhao acknowledged that he “might lose the debate,” but stated he was ready to represent Bitcoin. He added that the event could bring additional attention to Schiff’s tokenization venture.

Underscoring the significant public interest in this potential showdown, Schiff launched a asking followers to choose a moderator. The response was substantial, drawing over 54,000 votes.

The results showed a near tie between two towering figures of online discourse: Tesla CEO Elon Musk narrowly led with 40.5%, followed closely by podcaster Joe Rogan at 39.2%. Political commentator Tucker Carlson and podcaster Russell Brand garnered significantly less support.

While Musk’s or Rogan’s actual participation is highly speculative, the strong preference highlights the audience appeal of a debate featuring these prominent, often controversial, personalities discussing the future of money. Crypto news outlet Watcher Guru also offered to host the debate on X Spaces, indicating multiple platforms are vying for the event should it materialize.