Over $19 billion liquidated in worst crypto crash since COVID

Core Points - President Trump's announcement of a 100% tariff on all Chinese goods has led to a significant sell-off in the cryptocurrency market, marking the worst day in crypto history [1] - The crypto market experienced a massive liquidation of over $19.2 billion in leveraged positions, resulting in the largest single-day wipeout ever [2] - Major cryptocurrencies such as Bitcoin, Ethereum, XRP, and Solana saw substantial declines, with Bitcoin dropping over 10% and Ethereum falling nearly 15% [2][3] Market Impact - The total cryptocurrency market capitalization decreased by more than 9%, reaching approximately $3.85 trillion [3] - The sell-off caused major trading platforms like Binance and Coinbase to experience system strain and outages, affecting traders' ability to exit positions [4] - Binance confirmed that all services were restored and returning to normal, while Coinbase reported latency and degraded performance but assured users that funds remained safe [4]