On April 3, 2025, U.S. crypto-related stocks experienced significant declines following President Donald Trump's announcement of sweeping new tariffs, which intensified global trade tensions and dampened investor confidence in riskier assets. ​

Major cryptocurrency firms were notably affected:​

• Coinbase Global: Shares fell approximately 4%.​

• Strategy (formerly MicroStrategy): Experienced a decline of about 3%.​

Cryptocurrency mining companies also saw substantial losses:​

• MARA Holdings

• Riot Platforms

• Bitfarms

Each suffered declines ranging between 4% and 6%.

The broader cryptocurrency market mirrored this downturn, with Bitcoin and Ethereum dropping by 2.3% and 3.3%, respectively. ​

Analysts attribute these market reactions to the heightened uncertainty and potential economic instability stemming from the new tariffs. While the Trump administration has previously signaled support for cryptocurrencies through lighter regulations, the immediate impact of the tariff announcement has overshadowed these sentiments. Some market observers suggest that, due to their global and decentralized nature, cryptocurrencies might serve as a hedge during macroeconomic uncertainties. However, the prevailing volatility continues to influence investor behavior in the crypto sector.

The situation underscores the interconnectedness of trade policies and financial markets, highlighting the sensitivity of crypto assets and related stocks to geopolitical developments.