Trump’s 100% China Tariff Sparks Record $19 Billion Crypto Liquidation in Historic Market Crash
In a dramatic turn of events that sent shockwaves through global financial markets, President Donald Trump’s announcement of a 100% tariff on Chinese imports has triggered the largest cryptocurrency liquidation in history, wiping out over $19 billion in leveraged positions. This unprecedented sell-off, occurring on October 10-11, 2025, affected more than 1.6 million traders and erased hundreds of billions from the total crypto market capitalization, highlighting the fragility of digital assets amid geopolitical tensions. Background on the Tariff Announcement The escalation stems from ongoing US-China trade frictions, with Trump responding to what he described as China’s “aggressive” export controls on rare earth minerals and other critical products. On October 10, Trump posted on X (formerly Twitter) that the US would impose the additional 100% tariff effective November 1, over and above existing duties, along with new export controls on critical software. This move...