The crypto market witnessed a significant crash following the announcement by U.S. President Trump of new tariffs - 25% on Canada and Mexico, and 10% on China.
This decision sent ripples through the global economy, affecting various sectors. Stocks experienced a downfall, and a staggering $341 billion was wiped out from the crypto market.
The currencies of Mexico and Canada also plummeted. Bitcoin's value fell drastically to $94,013, while Ethereum also faced a sharp decline, reflecting the widespread financial turmoil.