Global cryptocurrency markets faced their sharpest crash of the year after Donald Trump announced a 100% tariff on China, triggering panic selling and record liquidations. More than $19 billion in crypto bets were wiped out, impacting over 1.6 million traders worldwide, according to Bloomberg. Within just one hour, over $7 billion in positions were liquidated, marking the largest mass sell-off in the history of digital assets. Advertisement

A Bloomberg report, citing 24-hour data from Coinglass, revealed that the announcement led to the largest liquidation event ever recorded in the crypto market. Over $19 billion was erased as traders rushed to unwind leveraged positions, with 1.6 million investors facing forced liquidations. Of this, more than $7 billion worth of positions were wiped o

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