Why is the Crypto Market Crashing So Badly?
I'm sure everyone is worried about the recent market crash—billions of dollars have been wiped out from the crypto market in just 24 hours.
There are 2 main reasons behind this major drop:
1. U.S. Announces 25% Tariff on Imports
The U.S. government has imposed a 25% tax on goods imported from Mexico, Canada, and China. This move could potentially start a trade war, causing a lot of fear in the markets.
Because of this, investors are pulling out their money from both crypto and stocks, and are shifting it into safer investments like bonds.
2. Kraken to Delist USDT and Other Stablecoins
Kraken, one of the top crypto exchanges, has announced it will remove several stablecoins from its platform by March 31st. These include:
Tether (USDT)
PayPal USD (PYUSD)
Euro Tether (EURT)
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