Crypto stocks fall following US tariff escalation
US-listed cryptocurrency stocks dropped on Thursday following a fresh round of tariffs announced by President Donald Trump, adding to concerns over global trade tensions and triggering a broader pullback in risk assets.
Shares of Coinbase Global declined by 7.7%, while MicroStrategy, a prominent holder of bitcoin, lost 5.6%. Crypto mining organisations also saw notable declines: MARA Holdings fell 8.3%, Riot Platforms dropped 8.7%, and Bitfarms dropped 5%.
The impact extended beyond equities. Bitcoin slid 3.9% and ether declined 5.2%, underscoring how sensitive digital assets remain to shifts in macroeconomic conditions.
Markets overall reacted sharply. The S&P 500 posted its steepest…
