Crypto tumbles on tariff fears as Trove plunges 90%
Major cryptocurrencies drop amid market turbulence sparked by tariff fears involving Donald Trump, while Trove plunges 90 percent and other digital assets experience mixed movements.
Major cryptocurrencies are trading in the red amid market turbulence sparked by tariff developments involving Donald Trump. Bitcoin (BTC) dropped 2% to $91,100, Ethereum (ETH) declined 4% to $3,105, Solana (SOL) fell 3% to $129, and XRP decreased 2% to $1.93. Meanwhile, top-performing movers included CC up 12%, MYX gaining 5%, and SYRUP rising 4%.
In traditional finance infrastructure, the New York Stock Exchange started making preparations to support 24/7 tokenized stock and ETF trading.
On the corporate front, Steak ’n Shake disclosed approximately $10 million in Bitcoin holdings and announced the establishment of a strategic corporate Bitcoin reserve. In governance news, Vitalik Buterin advocated for the adoption of more advanced decentralized autonomous organization (DAO) governance structures to enhance accountability, improve coordination, and secure long-term sustainability.
Additionally, Bermuda detailed its vision for transitioning into a fully onchain national economy, partnering with Coinbase and Circle to build payment systems, identity frameworks, and tokenized financial infrastructure.
Corporate Treasuries and ETFs
Bitcoin exchange-traded funds experienced $394 million in net outflows on Friday, bringing an end to a four-day streak of inflows. Conversely, Ethereum ETFs remained in positive territory, recording $4.7 million in net inflows.
Memes and Onchain Movers
Major meme coins trended downward alongside broader market losses: Dogecoin (DOGE) lost 1%, Shiba Inu (SHIB) slipped 1%, PEPE declined 2%, TRUMP dropped 1%, Bonk fell 1%, Pudgy Penguins (Pengu) decreased 4%, SPX tumbled 12%, dogwifhat (WIF) fell 1%, and Fartcoin dropped 8%. On the other hand, standout onchain movers featured USOR surging 70%, GSD climbing 50%, and Eliza Town rocketing 800%.
Frequently Asked Questions
How did major cryptocurrencies perform amid the tariff turmoil?
Major cryptocurrencies saw declines, with Bitcoin falling 2% to $91,100, Ethereum dropping 4% to $3,105, Solana losing 3% to $129, and XRP decreasing 2% to $1.93.
What corporate treasury update did Steak ’n Shake announce?
Steak ’n Shake revealed about $10 million in Bitcoin exposure and announced the creation of a corporate Bitcoin strategic reserve.
What changes are happening with the New York Stock Exchange?
The NYSE has begun making preparations to facilitate 24/7 tokenized stock and ETF trading.
How did Bitcoin and Ethereum ETFs perform?
Bitcoin ETFs recorded $394 million in net outflows on Friday, ending a four-day inflow streak, whereas Ethereum ETFs stayed green with $4.7 million in inflows.
What is Bermuda planning regarding onchain economics?
Bermuda outlined plans for a fully onchain national economy through partnerships with Coinbase and Circle to develop payments, identity, and tokenized financial infrastructure.
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