Trump Tariffs Shake Crypto Markets as NYSE Plans 24/7 Token Trading

Crypto markets experienced significant volatility following recent tariff announcements, with major assets posting declines across the board. The market reaction reflects broader economic uncertainty as investors reassess positions amid shifting trade policies.

Bitcoin, the largest cryptocurrency by market capitalization, retreated 2% to $91,100, while Ethereum dropped 4% to $3,105. Solana and XRP also declined, falling 3% and 2% respectively.

Despite the broad market downturn, select altcoins demonstrated resilience. CC, MYX, and SYRUP emerged as top performers, posting gains of 12%, 5%, and 4% respectively during the turbulent trading session.

The New York Stock Exchange has initiated preparations for round-the-clock tokenized stock and ETF trading, marking a significant milestone in traditional finance's embrace of blockchain technology. This move represents one of the most substantial institutional developments in digital asset markets to date.

Tokenization allows for the creation of digital representations of traditional assets on blockchain networks, enabling faster settlement, increased liquidity, and global market access. The NYSE's 24/7 trading initiative would break from traditional market hours, aligning with the always-on nature of cryptocurrency markets.

This development follows years of experimentation with blockchain technology by major financial institutions. The exchange's move toward continuous trading signals growing confidence in digital infrastructure and could accelerate broader adoption of tokenized assets across global markets.

Fast-food chain Steak 'n Shake revealed approximately $10 million in Bitcoin exposure alongside the creation of a corporate Bitcoin strategic reserve. The announcement represents a growing trend of traditional businesses incorporating cryptocurrency into their treasury strategies.

Corporate Bitcoin adoption has gained momentum as companies seek to diversify holdings and hedge against inflation. The move by Steak 'n Shake follows similar strategies adopted by other corporations that have allocated portions of their balance sheets to Bitcoin.

The creation of a strategic reserve indicates a long-term commitment to Bitcoin as a treasury asset rather than a short-term trading position. This approach mirrors the strategy employed by companies that view Bitcoin as a store of value and inflation hedge.

The government of Bermuda has outlined ambitious plans to develop a fully onchain national economy, partnering with Coinbase and Circle to build comprehensive digital infrastructure. The initiative covers payments, identity verification, and tokenized financial systems.

This represents one of the most comprehensive national blockchain strategies announced to date. By integrating blockchain technology into core government and financial services, Bermuda aims to position itself as a leader in digital economy innovation.

The partnership with established crypto companies like Coinbase and Circle provides the technical expertise and infrastructure needed to implement such a complex system. The initiative could serve as a model for other nations exploring blockchain integration into public services.

Bitcoin ETFs experienced $394 million in net outflows on Friday, breaking a four-day inflow streak. The reversal suggests profit-taking or risk reduction among institutional investors following the tariff-related market uncertainty.

In contrast, Ethereum ETFs remained positive, recording $4.7 million in net inflows. This divergence highlights differing institutional sentiment between the two largest cryptocurrencies during the period of market volatility.

The ETF flows provide insight into institutional positioning and market sentiment. While Bitcoin ETFs saw significant outflows, Ethereum's continued inflows may indicate specific institutional preferences or rebalancing strategies during the turbulent period.

Meme coins followed the broader market decline, with most major tokens posting losses. SPX experienced the steepest decline at 12%, while Fartcoin fell 8% and Pengu dropped 4%.

Other notable meme tokens including Dogecoin, Shiba Inu, PEPE, TRUMP, Bonk, and WIF all declined between 1% and 2%, reflecting the sector's correlation with broader market movements.

However, select onchain tokens demonstrated remarkable performance despite the challenging market conditions. Eliza Town surged 800%, while USOR gained 70% and GSD increased 50%, highlighting the continued volatility and opportunity within the crypto ecosystem.

Ethereum co-founder Vitalik Buterin has called for more sophisticated DAO governance models to improve accountability, coordination, and long-term sustainability. His comments address growing concerns about the effectiveness of current decentralized governance structures.

DAOs, or decentralized autonomous organizations, face challenges including voter apathy, whale dominance, and short-term thinking. Buterin's call for more sophisticated models suggests the need for innovative approaches to decentralized decision-making.

The push for improved governance comes as DAOs manage increasingly large treasuries and make critical decisions affecting millions of users. Enhanced models could help ensure these organizations operate effectively while maintaining their decentralized principles.

The convergence of traditional finance innovation, corporate adoption, and national blockchain strategies signals a maturing cryptocurrency ecosystem. While short-term volatility persists amid macroeconomic uncertainty, the underlying infrastructure continues to develop at an accelerating pace.

Key developments to watch include the implementation of NYSE's tokenized trading platform, Bermuda's onchain economy rollout, and whether corporate Bitcoin adoption continues to expand beyond early adopters. These developments could significantly influence market structure and adoption trajectories in the coming months.

The current market environment demonstrates both the resilience and interconnectedness of crypto markets with broader economic forces. As institutional infrastructure matures and regulatory clarity improves, the sector appears positioned for continued evolution despite near-term headwinds.