ALERT: Trump triggers an earthquake in crypto mining... and this is just the beginning

The industry is in serious panic

As traders are already stressed with a meme coin that might crash this week, Trump has once again stirred up chaos in the crypto market this morning with a crazy announcement.

This time, it's the crypto miners who are going to suffer: the American president has just announced 100% taxes on all chips and semiconductors coming from abroad.

Trump's plan? Bring all chip production back to the USA. But the catch is that crypto mining only works with ASIC chips that are manufactured in Asia (China, Malaysia, Thailand, Indonesia). With these outrageous new taxes, the cost of equipment for mining farms is going to skyrocket.

It has already started to go off the rails: the stocks of the largest miners have collapsed - Marathon Digital Holdings, Riot Platforms, Hut 8 Mining Corp, all in the red.

And it's not over: this crazy policy could actually push miners to leave for other countries where it's cheaper. A bad blow for the decentralization of the Bitcoin network and for the entire mining economy. As for the crypto market, with its $3.76 trillion, it risks taking a hit in the long term.