President Trump’s 100% tariff on Chinese goods has triggered the worst crypto sell-off in history. The announcement led to a massive freefall in crypto markets, with over $19.2 billion in leveraged positions liquidated. Bitcoin dropped over 10%, while major altcoins like Ethereum and XRP fell even more.

The total crypto market capitalization plummeted over 9% in hours, standing at $3.85 trillion. The intense sell-off overwhelmed major platforms like Binance, causing system strain and temporary outages. Coinbase also reported latency issues but assured users that funds remained safe.

Despite the chaos, Binance and Coinbase managed to restore services progressively. TheStreet first reported the story on Oct 11, 2025, in their MARKETS section. The intense market reaction to the tariffs has caused significant disruptions and losses in the crypto space.

Read more at Yahoo Finance: Over $19 billion liquidated in worst crypto crash since COVID