The U.S. raises 245% tariffs on China, and the crypto markets tumble.

It's Wednesday, April 16, 2025. I'm Christine Lee. This is coined us daily.

China-telling state run China Daily. They're open to talks with the United States based on

equality,

respect, and mutual benefit Wednesday. After U.S. President Donald Trump raised tariffs against China

to 245 percent, this comes after China's retaliatory measures and bans on exports of key

strategic materials, including rare earth elements, gallium and germanium that are used in the production of high-speed

computer chips. Bitcoin and the CoinS20 are declining with Ave, the sole gainer, gold surging

over 2% to break 3,300 as investors flee to safe haven investments, and chipmaker

Navidio warned of the $5.5 billion revenue hit, sending tech

stocks lower and dragging the NASDAQ down. Meanwhile, Coinbase institutional reports that the

crypto market has entered a bare phase, with Bitcoin dropping below its 200-day moving average

and the top 50 tokens trading in bare market territory since late February. The decline

signaling a potential crypto winter is attributed to macroeconomic uncertainty and reduce venture capital

funding, which is up to 60% below 2021-22 levels. Analysts predict the market may find a floor

by mid to late second quarter of 2025, setting

the stage for potential rebound in the third quarter.

Finally, similar scientific stock falling over 3% Wednesday after reporting a $42 million

unrealized loss on its Bitcoin holdings for the first quarter of 2025 due to a 12% price drop, with its nearly

3,200 BTC valued at over $260 million as of the end of March. Nevertheless, the health

tech firm plans to raise half a billion through a security sale primarily to fund further

Bitcoin purchases despite the market downturn. Additionally, Summer reached a tentative $30 million settlement with the Department of Justice

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