Coinbase and Bitcoin Mining Stocks Surge as Markets Rebound Following Tariff Relief Announcement

Cryptocurrency-linked stocks, including Coinbase and major Bitcoin miners like BTC, experienced a significant rally on Wednesday. This surge followed U.S. President Donald Trump’s announcement of a 90-day pause on implementing most reciprocal tariffs, providing temporary relief to over 180 countries. The move sparked a market rebound, reversing over a week of steep losses in the crypto sector. However, Chinese goods remain subject to existing tariffs. Below is a detailed summary of the developments and their impact on the crypto market.

Crypto and Bitcoin Mining Stocks Spike Amid Markets Rebound

The price of various crypto-linked stocks soared on Wednesday after U.S. President Donald Trump unveiled a 90-day pause on implementing most of his “reciprocal” tariffs. Strategy, Coinbase, and major Bitcoin miners such as BTC reversed more than a week of steep losses as U.S. markets closed. The president said over 180 countries would see temporary relief “effective immediately,” although Chinese goods would still be subject to stiff levies. For weeks, stocks and cryptocurrencies have been battered by Trump’s tariffs, as investors weigh how his measures could stunt economic growth and bolster inflation.

UK’s FCA Re-Appoints Nikhil Rathi as CEO for 5 Years

The UK’s Financial Conduct Authority (FCA) has re-appointed Nikhil Rathi as its Chief Executive Officer for another five years. Rathi is the first FCA CEO to receive such an extended term, allowing him more time to implement his plans for the financial sector, including cryptocurrencies. Under his leadership, the FCA has registered 51 crypto firms under their anti-money laundering rules, including notable names like Coinbase, Revolut, eToro, and BlackRock. Rathi aims to continue driving reform to make the UK the best place to do business by removing unnecessary regulations while ensuring consumer protection.