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return2ozma@lemmy.world to News@lemmy.world · 2 days ago

Trump’s new 100% tariffs on China triggered a $19 billion crypto sell-off

www.cnn.com

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Trump’s new 100% tariffs on China triggered a $19 billion crypto sell-off

www.cnn.com

return2ozma@lemmy.world to News@lemmy.world · 2 days ago
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Trump’s new 100% tariffs on China triggered a $19 billion crypto sell-off | CNN Business
www.cnn.com
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President Donald Trump’s threat of 100% tariffs on China “over and above any Tariff they are currently paying” effective November 1, sparked a massive cryptocurrency sell-off late Friday.
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  • SaveTheTuaHawk@lemmy.ca
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    1 day ago

    Of course it did, as the tariffs are designed to do. Why are the media and people still thinking tariffs are about anything but massive market manipulation to benefit insiders?

    • Dogyote@slrpnk.net
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      1 day ago

      Why would tariffs tank crypto?

  • nialv7@lemmy.world
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    2 days ago

    Some mysterious account shorted a bunch of cryptos minutes before the tariff announcement, and made 190 million.

    Just FYI

    • Bob Robertson IX @discuss.tchncs.de
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      2 days ago

      That’s all the economy is right now, just pumping it up, shorting, then trump announces something to crash the markets, those in on the grift make bank, then trump backs out and the market recovers. Wait 4 weeks and do it again.

      • cosmicrookie@lemmy.world
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        2 days ago

        This is all planned. Favours and filling own pockets. It should be and probably is illegal but by now we have found out that the president if the USA can do whatever they like without care for that

      • SaveTheTuaHawk@lemmy.ca
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        1 day ago

        And why does this work? Because of degenerate gambling day traders and analysts.

      • Tollana1234567@lemmy.today
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        its also a nice distraction from the BBB, and epstein files too.

        • anomnom@sh.itjust.works
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          None of it is a distraction, it’s all the results of a dictatorship. Nothing has actually stopped him from doing these things. The Disney boycott of all things, possibly excluded, for now.

          • village604@adultswim.fan
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            16 hours ago

            At this point the Epstein files are the distraction

    • kn0wmad1c@programming.dev
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      2 days ago

      Can you post proof I can send to my crypto friends?

      • nialv7@lemmy.world
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        2 days ago

        https://www.youtube.com/watch?v=5fTv9ThJg6U

        • kn0wmad1c@programming.dev
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          2 days ago

          Love coffee

    • Almacca@aussie.zone
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      1 day ago

      deleted by creator

  • Maeve@kbin.earth
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    1 day ago

    https://cryptonews.com/news/early-bitcoin-whale-shorted-1-1b-right-before-tariffs-now-up-27m-how-did-he-know/

    • RememberTheApollo_@lemmy.world
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      Probably because trump can’t keep his mouth shut and there was a leak that the rest of us weren’t privy to.

      • SaveTheTuaHawk@lemmy.ca
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        1 day ago

        “leak”

  • melsaskca@lemmy.ca
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    1 day ago

    Someone tear that stock market down until responsible adults can use it effectively again. Right now it’s a broken, leaky old thing that is assisting mostly rich white greedy monsters and causing untold future mayhem with respect to value.

    • markovs_gun@lemmy.world
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      You do realize that crypto isn’t the stock market and doesn’t require there to even be exchanges right?

    • SaveTheTuaHawk@lemmy.ca
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      1 day ago

      That has been true for 100 years.

    • eskimofry@lemmy.world
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      1 day ago

      it has become equitable recently. It now also works for brown and black rich assholes

  • Dogyote@slrpnk.net
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    1 day ago

    Why would tariffs make crypto tank? Why not the opposite? How’d that person who shorted bitcoin know it would drop? Maybe they didn’t, but it was quite the bet if they didn’t know.

    • iglou@programming.dev
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      1 day ago

      Because the crypto market overreacts, always

  • Maeve@kbin.earth
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    2 days ago

    https://archive.ph/D8cUb

  • TheObviousSolution@lemmy.ca
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    1 day ago

    So people are selling off from the crypto confidence scams to buy into Trump’s confidence scams on the drop. The sad thing is that each time these scammers end up winning, they get more money to shape the world while normal every day people who’ve been shuffled into these confidence scams in the stock market / crypto/ meme stocks get screwed. People ask why everything so bad while still buying into the status quo sold by the scammers.

  • nialv7@lemmy.world
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    deleted by creator

  • MyTurtleSwimsUpsideDown@fedia.io
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    2 days ago

    (°o°)

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