\n President Donald Trump\u2019s threat to impose an additional 100% tariff on imports from China sparked a massive cryptocurrency sell-off late Friday that exposed risky leverage in the space.\n <\/p>\n
\n Digital currencies bitcoin, ether and solana were among the most affected cryptocurrencies, bringing total liquidations to $18.28 billion as of 3:47 p.m. ET, according to data analysis platform CoinGlass<\/a>. The losses for cryptocurrencies come amid a broad sell-off, as the Nasdaq and S&P 500 on Friday saw their steepest declines in six months.\n <\/p>\n \n In the past 24 hours, roughly $5 billion of bitcoin has been liquidated, along with about $4 billion of ether and about $2 billion of solana, according to CoinGlass.\n <\/p>\n \n It\u2019s the \u201clargest liquidation event in crypto history,\u201d CoinGlass said in a post on X<\/a>.\n <\/p>\n \n Bitcoin is down almost 10% in the last five days and was trading at $111.616.20 as of 3:45 p.m. ET, a jump from when it dropped to $103,000 at 5:15 p.m. ET on Friday.\n <\/p>\n \n On Friday, ether was priced at $4,365.63 and then sunk to $3,742.88 \u2014 a 14.2% decline.\n <\/p>\n \n Solana was priced at $223.10 on Friday and has fallen to $178.72, as of 3:45 p.m. ET \u2014 a nearly 20% plunge.\n <\/p>\n \n Crypto has made major gains since Trump took office this year, in large part because of the president\u2019s turnaround from dismissing bitcoin as \u201cbased on thin air\u201d to addressing crypto fans at conventions<\/a>, launching his own meme coin<\/a> and promising a strategic crypto reserve.\n <\/p>\n