President Donald Trump’s tariffs on major trading partners, including China, Canada, and Mexico, wipes $2.26 billion from the crypto market. Nick Forster, Founder of Derive.xyz, told FXStreet that recent tariffs imposed are likely to increase inflation, which could dampen investor sentiment in crypto markets.

Under Biden, bitcoin and crypto companies complained of an unofficial policy to “debank” them, cutting off basic financial services and making it impossible to operate—which became known as “Operation Choke Point 2.0,” a reference to a previous U.S. government policy to cut off industries believed to be at high risk of fraud and money laundering.

President Trump’s tariffs on imports from Canada, Mexico, and China have sparked fears of a global trade war, shaking financial markets and