Overview

• The Trump administration's new tariffs on over 180 countries have caused steep declines in crypto-adjacent stocks, with platforms like Coinbase and Robinhood down 8-9%.
• Bitcoin mining companies are grappling with increased costs due to tariffs on ASIC chips and other components sourced from Asia, with some firms rushing to import equipment before tariffs take effect.
• Despite market volatility, Bitcoin's price has stabilized at $82,000, maintaining its position as a perceived hedge against traditional market risks.
• Corporate bitcoin holders like Strategy and MARA Holdings continue to significantly expand their reserves, with Strategy now holding 528,185 bitcoin following a $1.9 billion purchase.
• The broader cryptocurrency sector is under pressure from security risks, highlighted by the record-breaking $1.46 billion ByBit hack attributed to North Korea’s Lazarus Group.