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FILE - Bitcoin logos are displayed at the Inside Bitcoins conference and trade show on April 7, 2014, in New York. (AP Photo/Mark Lennihan, File)
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Trump's tariff threat sends crypto prices falling, including his own meme coin

8 Comments
By ALAN SUDERMAN

Cryptocurrency prices took a hit from the prospect of a trade war between the U.S. and its major trading partners, with some well-known digital assets and President Donald Trump's own meme coin taking big hits.

The price of bitcoin started falling from about $105,000 shortly after Trump announced plans Saturday to start putting large tariffs on goods from Canada, Mexico and China.

The world’s most popular cryptocurrency fell to about $92,000 Sunday night before rebounding back over $100,000 Monday afternoon following Trump's announcement of a pause on the tariffs on Mexican goods. He later announced a similar pause on tariffs against Canadian goods.

Bitcoin proved more resilient than other cryptocurrencies. Ethereum, dogecoin, and other popular cryptocurrencies have seen significant price drops since Trump’s weekend tariff announcement. Trump’s meme coin was trading at about $19 Monday, which is about 75% below the all-time high it reached right after Trump launched the coin on the eve of his second inauguration.

“Those are riskier cryptos” than bitcoin, said Garrick Hileman, an independent cryptocurrency analyst. “But it’s a little surprising how big the gap is.”

The sell-off and partial rebound were part of a worldwide swing in financial markets on the eve of Trump’s tariffs going into effect. Trump warned Americans they may feel “some pain” from the tariffs, which he said would be “worth the price” to make America great again. He also said Sunday night that import taxes will “definitely happen” with the European Union and possibly with the United Kingdom as well. U.S. stock markets pared early losses Monday after Mexico’s president said she had negotiated a one-month reprieve for Trump’s tariffs on goods from her country.

Bitcoin was created in 2009 as a kind of electronic cash uncontrolled by banks or governments. It and newer forms of cryptocurrencies have moved from the financial fringes to the mainstream in recent years, with bitcoin’s price movements largely tracking that of tech stocks.

“The flip side of like this asset gaining respectability and finding a role in institutional portfolios is now all of a sudden you’re exposed to the liquidity constraints that larger investors face,” said Nic Carter, a partner at the crypto investment firm Castle Island Ventures. “We wanted bitcoin to become this global macro asset class. Now it is.”

Meme coins are a highly volatile corner of the crypto industry that often start as a joke with no real value but can surge in price if enough people are willing to buy them.

Several of them have seen large price drops in the last few days. First Lady Melania Trump’s new meme coin, which she also launched just before Trump took office, is down nearly 90% from its all-time high.

Trump is a former crypto skeptic who has since warmly embraced digital assets, both as a source of personal wealth and as a matter of government policy. He’s promised to make the U.S. the world capital of crypto and appointed several crypto-friendly officials to key government positions.

Cryptocurrencies have enjoyed a surge in value since Trump’s election and bitcoin is still trading near its all-time high of $109,000.

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

©2025 GPlusMedia Inc.

8 Comments
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Just like his presidency

6 ( +6 / -0 )

A reference for Brits of a certain generation:

"Tonight, Matthew, I'm going to be blaming....(DEI . woke libs, Canada, Mexico, Greenland, Biden, Harris....)"

2 ( +2 / -0 )

Trump's tariff threat sends crypto prices falling, including his own meme coin

Another great job from the "stable genius".

6 ( +6 / -0 )

I'm starting to think one reason he paused tariffs was because stocks (and Bitcoin) fell and a poll showed tariffs were mostly unpopular with the US public. He didn't exactly promise pain. His unpredictability will will unsettle markets and raise interest rates (risk premium). I'm also starting to think he wants to pressure Canada and especially Mexico into imposing tariffs on China for retailiating against US tariffs.

1 ( +2 / -1 )

Another trump failure. Trump doesn’t understand how things work. That’s what happens when you’re born with a silver spoon in your mouth and your daddy gives you all of your money.

6 ( +6 / -0 )

Agreed Nibek32. He doesn't understand tariffs as well as some other basic economic concepts. He tried to bully Canada into becoming the 51st state. That's what he wants and has repeatedly said it. He's acting on his own ridiculous imperialistic fantasies which are making US look bad. I think he saw his popularity/stocks falling and realized (or probably advised) he was making a huge mistake and then looked for a way out. Canada gave away nothing. They'd already announced those border measures back in December. The Mexican president was trying hard not to laugh when she told reporters Trump asked her how long she would like the tariffs paused for. And when interviewed on Fox news today he said "Who the hell made these (trade) deals? They're so bad!". And who made those deals? Yes - It was Trump in 2018. Hilarious. I think I'm going to enjoy the next 4 years.

2 ( +2 / -0 )

oooh please.His own coin. He's probably pumped that and dumped it. and left it to the idiots to hold the digital 1s and 0s.

1 ( +1 / -0 )

This is why I don't trust any crypto currency..

A virtual asset that is not physical and don't exist, and goes up and down like a crazy roller coaster, depending of any stupidity done or said by any celebrity clown on duty..

No thanks..

-2 ( +0 / -2 )

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