{"id":20693,"date":"2025-04-04T22:31:33","date_gmt":"2025-04-04T22:31:33","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20693"},"modified":"2025-04-04T22:31:33","modified_gmt":"2025-04-04T22:31:33","slug":"crypto-stocks-down-ipos-punted-amid-tariff-tumult","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20693","title":{"rendered":"Crypto stocks down, IPOs punted amid tariff tumult"},"content":{"rendered":"
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\"Crypto<\/p>\n

Cryptocurrency 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<\/p>\n

From exchanges to Bitcoin (BTC<\/a>) 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<\/p>\n

On April 2, Trump announced he was placing tariffs of at least 10% on practically all imports into the United States and adding additional “reciprocal” tariffs on some 57 countries.\u00a0<\/p>\n

Since then, major US stock indices \u2014 including the S&P 500 and Nasdaq \u2014 tumbled by roughly 10% as traders braced for a looming trade war.\u00a0<\/p>\n

\"Crypto
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Bitcoin miners sold off on Trump\u2019s tariff news. Source: <\/em>Morningstar<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Related: <\/strong><\/em>Bitcoin \u2018decouples,\u2019 stocks lose $3.5T amid Trump tariff war and Fed warning of \u2018higher inflation\u2019<\/strong><\/em><\/a><\/p>\n

Sharp selloffs<\/h2>\n

Crypto 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<\/a> from Google Finance.<\/p>\n

Bitcoin 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<\/a> from Morningstar.\u00a0<\/p>\n

Even 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 <\/a>showed.<\/p>\n

According<\/a> to Reuters, investment bank JPMorgan has raised its estimated odds of a global economic recession in 2025 to 60% from 40% previously.\u00a0<\/p>\n

“Disruptive U.S. policies have been recognized as the biggest risk to the global outlook all year,” JP Morgan reportedly said.<\/p>\n

“The effect … is likely to be magnified through (tariff) retaliation, a slide in U.S. business sentiment and supply-chain disruptions.”<\/p>\n

\"Crypto
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Strategy\u2019s shares also dropped this week. Source: <\/em>Google Finance<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

IPO delays<\/h2>\n

The impact of US tariffs hasn\u2019t been limited to stock price volatility. Stablecoin issuer Circle has reportedly paused plans for a 2025 IPO<\/a>, citing market turbulence.\u00a0<\/p>\n

According 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<\/p>\n

It is among several companies \u2014 including fintech Klarna and ticketing service StubHub \u2014 reportedly considering altering or shelving IPO plans.\u00a0<\/p>\n

One exception may be Bitcoin itself, which some analysts say is finally \u201cdecoupling\u201d from the broader market<\/a>. <\/p>\n

Bitcoin\u2019s spot price has held above $82,000 this week, even as US equities markets collapsed.<\/p>\n

Magazine:\u00a0<\/strong><\/em>Unstablecoins: Depegging, bank runs and other risks loom<\/strong><\/em><\/a><\/p>\n