Cryptos see worst sell-off in history! $19 billion gone after Donald Trump’s new 100% tariffs on China crashes markets
More than 1.6 million traders lost over $19 billion on cryptocurrency bets as the market crashed from Donald Trump‘s announcement of additional 100 per cent tariffs on China, according to a Bloomberg report.
Citing 24 hour data from Coinglass, the report noted that more than $19 billion have been wiped out in the “largest liquidation event in crypto history”, that impacted more than 1.6 million traders. It added that more than $7 billion of those positions were sold in less than one hour of trading on October 10.
It further quoted Brian Strugats, head trader at Multicoin Capital state that estimates place the total liquidation over $30 billion, amid fears of a broader market contagion.
