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Crypto Market Loses $400 Billion Amid Trump's Tariff Threats
2025-10-13 22:55:09
Business
Finance
Asia

Crypto Market Loses $400 Billion Amid Trump's Tariff Threats

The recent turbulence in the cryptocurrency market, triggered by President Donald Trump's tariff threats on Chinese imports, resulted in a staggering $400 billion loss. Major cryptocurrencies, including Bitcoin, saw significant declines, leading to chaos and technical difficulties on trading platforms.

Amidst the fallout, Peter Thiel-backed companies like Bullish and Bitmine Immersion experienced a surge in their stock prices. Critics, including economist Peter Schiff, have suggested that market manipulation may have played a role in the downturn.

While Treasury Secretary Scott Bessent has offered assurances against the 100% tariffs becoming reality, the situation has led to increased scrutiny of trading practices within the industry. As the markets stabilize following Trump's conciliatory remarks, analysts are predicting a cautious recovery for cryptocurrencies, with expectations of a slower upward trend.

The ongoing geopolitical tensions continue to influence market dynamics, highlighting the interplay between regulatory announcements and investor sentiment.

Related news on that topic:

Trump's 100% Tariff Threat: A Game-Changer for U.S.-China Trade?

The escalating trade dispute between the United States and China is once again at the forefront of global economic concerns. President Donald Trump has threatened to impose a staggering 100% tariff on Chinese imports, a direct response to China's recent export controls on rare earth minerals. These minerals are pivotal for various technologies, including semiconductors and aerospace components. As tensions rise, the U.S. stock market has reacted negatively, with the S&P 500 experiencing a notable decline. Analysts warn that these developments could trigger a recession, reflecting the precarious nature of international trade relations. In addition to tariffs, Trump hinted at implementing software export controls, intensifying the conflict. The situation suggests a strategic maneuver by China, potentially to gain leverage ahead of an anticipated meeting between Trump and Chinese President Xi Jinping. As both nations navigate this complex landscape, the global economic implications remain significant, raising questions about future collaborations and trade partnerships.

Trump's 100% Tariff on China Signals New Phase in Trade War

The trade relationship between the United States and China has sharply deteriorated, marked by escalating tariffs and retaliatory measures. Recently, President Trump announced a staggering 100% tariff on Chinese imports, a response to Beijing's restrictions on rare earth metals and its perceived unfair trade practices. This move follows China's earlier actions that restricted freedoms in Hong Kong and affected American businesses. The situation has led to significant declines in stock markets, reflecting growing anxiety over the economic implications of the trade war. Meanwhile, companies like Nvidia find themselves caught in the crossfire, facing scrutiny over their technology exports to China. As both nations continue to exchange blame, the stakes remain high, with global supply chains and economic stability at risk. Diplomatic talks persist, but the path to resolution appears fraught with challenges as both sides dig in their heels.

Read 4 more recent news on this topic

The press radar on this topic:

The Street
15. Oktober 2025 um 20:06

Hedge fund manager slams Trump’s ‘TACO’ tariff strategy after crypto wipeout

Economist Peter Schiff has linked the recent cryptocurrency market decline to US President Donald Trump's tariff announcement on Chinese goods. Schiff claims that those close to Trump, including Vice President JD Vance, may have manipulated the market by shorting crypto before Trump posted about the tariffs. Schiff has long been a critic of cryptocurrency and used the market crash as an opportunity to compare Bitcoin unfavorably to gold and silver.
The Street
15. Oktober 2025 um 07:07

Peter Thiel-backed crypto stocks surges after market crash

Shares of Bullish and Bitmine Immersion, backed by Peter Thiel, surged on October 13 after a market crash over the weekend caused by President Donald Trump's threat to impose a 100% tariff on Chinese imports. The crypto market lost $19 billion in value, with Bitcoin plummeting from $126,198.07 to $105,000. However, Treasury Secretary Scott Bessent reassured that 100% tariffs are not inevitable, and the meeting between Trump and Chinese President Xi Jinping is still expected.
The Street
15. Oktober 2025 um 07:07

Crypto’s wildest week ever: $400B wiped out after a post that broke the market

A $400 billion wipeout occurred in the crypto market after a post by U.S. President Donald Trump announced a 100% tariff on China, leading to massive liquidations and technical issues on major platforms. Binance co-founder Yi He apologized for the exchange's role in the chaos and offered compensation to affected users. The incident has sparked calls from regulators and analysts to examine exchanges' practices and internal controls, with some questioning the official tally of liquidated funds.
Cointelegraph.com News
13. Oktober 2025 um 16:57

Price predictions 10/13: SPX, DXY, BTC, ETH, BNB, XRP, SOL, DOGE, ADA, HYPE

US President Donald Trump's tariff announcement led to deep drops in US stock markets and cryptocurrencies on Friday. Economist Timothy Peterson predicts a 'cooling off period' for BTC before resuming its uptrend at a slower pace than before. The S&P 500 Index (SPX) broke below the 20-day exponential moving average, while BNB reached an all-time high of $1,375 but struggled to sustain it. SOL fell below its ascending channel pattern and dipped to $168. HYPE completed a head-and-shoulders pattern..
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