Trump Tariffs Trigger Crypto Crash!

Crypto prices tumbled after the Trump administration doubled down on its global tariff strategy.

Author

Danielle du Toit
April 07, 2025

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Here's what we've got for you today:

  • Crypto Plunges as Trump Tariff ‘Medicine’ Brutalizes Global Stock Markets

  • McGregor Token Misses Fundraising Goal as Meme Coin Momentum Slows

  • CFPB Loses Ground in Crypto Oversight Amid Washington Power Shift

  • Meme Coin Platform Pump.fun Brings Livestream Feature Back to 5% of Users

Crypto prices tumbled as the US stock futures market opened after the Trump administration doubled down on its global tariff strategy.

  • The Trump administration implemented a 10% tariff on all countries starting April 5, with higher rates for China, the EU, and Japan.

  • Bitcoin’s price dropped by over 6%, and Ethereum fell by more than 12%. The total crypto market cap declined by close to 8% to $2.5 trillion.

  • The Crypto Fear & Greed Index registered a score of 23 on April 7, which indicates extreme fear among investors.

💰️ McGregor Token Misses Fundraising Goal as Meme Coin Momentum Slows

A crypto project backed by former UFC champion Conor McGregor failed to meet its minimum fundraising goal.

  • The Conor McGregor-backed REAL token failed to meet its $1 million minimum fundraising goal, and ended up raising only $392,315 from 668 participants.

  • Real World Gaming (RWG) confirmed that all bids will be refunded after the April 5–6 auction fell far short of its target.

  • Despite McGregor’s strong endorsement and efforts to distance REAL from “low-effort” celebrity tokens, the project still failed to gain any traction.

The Trump administration is scaling back the role of the Consumer Financial Protection Bureau (CFPB) in crypto regulation.

  • The Consumer Financial Protection Bureau is expected to reduce its involvement in crypto regulation, with agencies like the SEC, NYDFS, and California’s DFPI stepping in.

  • The CFPB is also scaling back due to a push by the Department of Government Efficiency (DOGE) to cut spending and reduce federal debt.

  • Despite funding cuts and a diminished role, the CFPB will keep certain statutory responsibilities that can only be changed by Congress.

The platform upgraded its moderation systems but still acknowledged that much of its content will remain “not safe for work.”

  • Solana-based meme coin platform Pump.fun reintroduced its livestreaming feature after a five-month suspension due to harmful content incidents.

  • Co-founder Alon Cohen announced the return on April 4, and explained that the feature now includes industry-standard moderation tools and clear content guidelines.

  • The platform’s new rules are there to encourage creativity while still preventing harmful interactions.

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