Cryptocurrency assets experienced a broad market downturn following the uncertainty surrounding Donald Trump’s tariff proposals, while Trove ($Trove) crashed 90% during its disastrous token generation event, and a new Pump Fund was introduced.
Leading digital assets traded lower in the wake of the tariff-induced market volatility, with Bitcoin dropping 2% to trade near $91,100, Ethereum declining 4% to $3,105, Solana falling 3% to $129, and XRP slipping 2% down to $1.93. Bucking the downward trend, standout gainers included CC with a 12% rise, MYX gaining 5%, and SYRUP advancing 4%. Meanwhile, the New York Stock Exchange initiated steps toward establishing continuous 24/7 trading for tokenized equities and exchange-traded funds. Restaurant chain Steak ’n Shake disclosed approximately $10 million in direct Bitcoin holdings in conjunction with setting up a dedicated corporate Bitcoin strategic reserve. Concurrently, Ethereum co-founder Vitalik Buterin advocated for the development of more advanced DAO governance architectures aimed at enhancing responsibility, alignment, and long-term durability. Bermuda unveiled an initiative to build a comprehensive onchain domestic economy, partnering with Coinbase and Circle to deploy identity solutions, payment rails, and tokenized financial systems.
Within the corporate treasury and ETF landscape, US spot Bitcoin ETFs registered $394 million in net daily outflows on Friday, snapping a four-consecutive-day inflow streak, whereas spot Ethereum ETFs remained positive by attracting $4.7 million in net inflows.
Looking at meme tokens and decentralized onchain activity, major memecoins declined in tandem with the broader market: Dogecoin lost 1%, Shiba Inu fell 1%, PEPE decreased 2%, TRUMP pulled back 1%, Bonk slid 1%, Pengu tumbled 4%, SPX plunged 12%, WIF dropped 1%, and Fartcoin shed 8%. On the other hand, notable onchain gainers included USOR with a 70% surge, GSD leaping 50%, and Eliza Town rocketing by 800%.
Originally published at https://decrypt.co/videos/interviews/lokwS0bc/crypto-sells-off-amidst-trump-tariff-turmoil-trove-falls-90-in-awful-tge-pump-fund-announced.
