U.S. crypto stocks slide as Trump’s sweeping tariffs jolt markets

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By Niket Nishant

(Reuters) – U.S. crypto stocks declined on Thursday after President Donald Trump’s latest round of sweeping tariffs rattled investor confidence due to rising global trade tensions, sparking a sell-off in riskier assets.

Crypto exchange Coinbase Global fell about 7.7%, while major bitcoin holder Strategy dropped 5.6%. Among miners, MARA Holdings, Riot Platforms and Bitfarms slipped about 8.3%, 8.7% and 5%, respectively.

The broad losses underscore the widespread fallout of the tariffs on multiple asset classes. Bitcoin, the biggest cryptocurrency, dropped 3.9%, while ether dived 5.2%.

Even though the Trump administration has signaled a willingness to embrace crypto and adopt a lighter approach to regulation, broader economic instability tied to the sector could still impact companies.

Marcin Kazmierczak, chief operating officer at blockchain firm RedStone, said the declines point to a growing correlation between digital assets and macroeconomic policy shifts.

“But protectionist policies that potentially weaken dollar hegemony could accelerate interest in decentralized alternatives over the medium-to-long term,” he said.

Some analysts said the moves were less severe than other industries.

“The price action highlights crypto’s hyper-democratic and borderless nature, allowing investors worldwide to hedge against the potential impact of macroeconomic uncertainties,” said David Hernandez, crypto investment specialist at 21Shares.

Crypto exchange traded-funds may also attract some inflows from retail investors who will be hunting for opportunities, according to Marco Iachini, senior vice president of research​​ at Vanda Research.

However,​​ he said the size of the flow could reduce as things get a bit shaky.

(Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur)