Crypto prices sink on Trump reserve skepticism, tariff concerns
NEW YORK – Euphoria in digital-asset markets stemming from US President Donald Trump’s plans for a strategic crypto reserve turned to skepticism on March 3, triggering early losses in cryptocurrencies that worsened throughout the day as investors braced for the US to impose 25 per cent tariffs on Mexico and Canada.
Mr Trump said on March 2 on Truth Social that the XRP, SOL and ADA tokens will be included in the reserve, along with Bitcoin and Ether. The news ignited an immediate crypto rally, offering relief to an asset class fresh off its worst month since 2022. Yet the inclusion of the three lesser-known digital tokens was later met with questions from investors about the project’s merits.
All of the cryptocurrencies that Mr Trump…
