The Biggest Crash in History: The Crypto Market Lost More Than $19 Billion Due to Trump's Statements

This is what happens when the Nobel Peace Prize isn't awarded to Trump…

Yesterday, Donald Trump missed out on the Nobel Peace Prize by a wide margin. The U.S. president apparently seriously expected to see his name on the list of laureates—but the award went to an opposition politician from Venezuela.

That, however, wasn’t the end of the news from Trump. It’s doubtful that his subsequent statements were directly related to his irritation with the Nobel Committee, but upon hearing them, investors nervously began to go gray.

Remember how Trump declared a trade war on the whole world at the beginning of the year and promised to “make America strong again”? Then—as usual—some of the tariffs were lifted, nothing changed, and Trump smugly announced that now, finally, America is truly strong.

The story didn’t end there. The trade war with China was simply on hold, but no one ever officially put an end to it. It seemed as though everything was heading toward a reconciliation: a meeting with the Chinese leader, a heartfelt conversation, the lifting of tariffs. But, as is often the case with Trump, at the last minute, everything went completely off track.

The U.S. president suddenly announced that sanctions are being imposed against China new 100-percent tariffs and software exports are restricted. The market's reaction was immediate—and predictable: panic.

The U.S. stock market lost $1.65 trillion in just a few hours. But the real nightmare unfolded in the crypto world.

At first, the decline seemed manageable—the crypto market dropped by $116,000. Then the decline turned into an avalanche. By morning, analysts had recorded the largest liquidation in the history of cryptocurrencies— $19 billion.

By way of comparison: during the crash triggered by COVID-19 in March 2020, liquidations totaled about 1.2 billion. Yes, the dollar was stronger back then, and crypto was just a niche fad. But even when adjusted for scale, this is a disaster. Thousands of investors have lost everything; for some, it was literally their livelihood. According to media reports, there has already been at least one suicide linked to the crash.

Kostya Kudo, a crypto investor who took his own life, lost about $30 million due to the crypto market crash. All the funds entrusted to him by investors were effectively lost, and he also lost his own money. His car collection included a 2020 Lamborghini Urus, a 2023 Ferrari 296 GTB, and a 2012 Mercedes-Benz E 220 CDI. According to media reports, the man in question is 32-year-old blogger Konstantin Galiche, known as Kostya Kudo. His body was found in the Lamborghini Urus, with a firearm registered to him nearby.

TON plummeted 73% and is trading at $0.71. Bitcoin had fallen by more than $10,000 shortly before that, and all other cryptocurrencies followed suit. Later, reports emerged that Durov Lost Millions of Dollars Due to the Crypto Market Crash. The fact is that during the crash, the peg on the Stars exchange rate broke in the Fragment system, and Telegram’s internal currency began selling at a discount of up to 80%. Users noticed the glitch and managed to snap up millions of “Stars” for literally pennies—the loss to the platform is estimated to be in the millions.