{"id":126504,"date":"2025-04-04T23:15:28","date_gmt":"2025-04-04T23:15:28","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126504"},"modified":"2025-04-04T23:15:28","modified_gmt":"2025-04-04T23:15:28","slug":"crypto-stocks-down-ipos-punted-amid-tariff-tumult","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126504","title":{"rendered":"Crypto stocks down, IPOs punted amid tariff tumult"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCryptocurrency firms felt the heat from US President Donald Trump\u2019s sweeping tariff rollout this week as market turbulence sent share prices tumbling and foiled initial public offering (IPO) plans.\u00a0<br \/>\nFrom exchanges to Bitcoin (BTC) miners, crypto stocks suffered as much, if not more, than shares of other companies \u2014 despite the industry\u2019s warm relationship with the US president.\u00a0<br \/>\nOn April 2, Trump announced he was placing tariffs of at least 10% on practically all imports into the United States and adding additional &#8220;reciprocal&#8221; tariffs on some 57 countries.\u00a0<br \/>\nSince then, major US stock indices \u2014 including the S&amp;P 500 and Nasdaq \u2014 tumbled by roughly 10% as traders braced for a looming trade war.\u00a0<br \/>\nBitcoin miners sold off on Trump\u2019s tariff news. Source: MorningstarRelated: Bitcoin \u2018decouples,\u2019 stocks lose $3.5T amid Trump tariff war and Fed warning of \u2018higher inflation\u2019<br \/>\nSharp selloffs<br \/>\nCrypto exchange Coinbase \u2014 a prominent ally of Trump during the November US elections \u2014 experienced a similarly severe sell-off, with its stock price dropping by roughly 12% during the same period, according to data from Google Finance.<br \/>\nBitcoin miners are also taking a hit. The CoinShares Crypto Miners ETF (WGMI) \u2014 which tracks a diverse basket of Bitcoin mining stocks \u2014 has lost roughly 13% of its value since immediately prior to Trump\u2019s April 2 announcement, according to data from Morningstar.\u00a0<br \/>\nEven Strategy, one of the best-performing stocks of 2024, wasn\u2019t immune. Its share price has fallen by around 6% on the news, Google Finance data showed.<br \/>\nAccording to Reuters, investment bank JPMorgan has raised its estimated odds of a global economic recession in 2025 to 60% from 40% previously.\u00a0<br \/>\n&#8220;Disruptive U.S. policies have been recognized as the biggest risk to the global outlook all year,&#8221; JP Morgan reportedly said.<br \/>\n&#8220;The effect &#8230; is likely to be magnified through (tariff) retaliation, a slide in U.S. business sentiment and supply-chain disruptions.&#8221;<br \/>\nStrategy\u2019s shares also dropped this week. Source: Google FinanceIPO delays<br \/>\nThe impact of US tariffs hasn\u2019t been limited to stock price volatility. Stablecoin issuer Circle has reportedly paused plans for a 2025 IPO, citing market turbulence.\u00a0<br \/>\nAccording to The Wall Street Journal, Circle is \u201cwaiting anxiously\u201d before taking further steps after filing to take the company public on April 1.\u00a0<br \/>\nIt is among several companies \u2014 including fintech Klarna and ticketing service StubHub \u2014 reportedly considering altering or shelving IPO plans.\u00a0<br \/>\nOne exception may be Bitcoin itself, which some analysts say is finally \u201cdecoupling\u201d from the broader market.<br \/>\nBitcoin\u2019s spot price has held above $82,000 this week, even as US equities markets collapsed.<br \/>\nMagazine:\u00a0Unstablecoins: Depegging, bank runs and other risks loom<a href=\"https:\/\/cointelegraph.com\/news\/crypto-stocks-down-ipos-punted-amid-tariff-tumult?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCryptocurrency firms felt the heat from US President Donald Trump\u2019s sweeping tariff rollout this week as market turbulence sent share prices tumbling and foiled initial public offering (IPO)&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126504"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126504"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126504\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126504"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}