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

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.

Crypto Crash Underway: Cardano, Polkado, and Avalanche Plunge More than 30%. Here's Why.

From 4 p.m. ET on Friday, Cardano (CRYPTO: ADA), Polkadot (CRYPTO: DOT), and Avalanche (CRYPTO: AVAX) are among the worst performing large-cap cryptocurrencies, losing 39.3%, 33.7%, and 33.1%, respectively, as of 3 p.m. ET Monday. As has been the case with most other risk assets, Trump's willingness to fulfill a key campaign pledge and install tariffs on Mexico, Canada, and China have certainly contributed to today's decline irrespective of a subsequent announcement that tariffs on Mexico will be paused after the country made some concessions. As uncertainty rises for investors, and other factors bleed into concern that capital will rotate away from risk and toward more defensive assets, these are three tokens that investors are clearly paying close attention to.