Crypto rebounds on tariffs, BitGo IPO, Solana SKR surges 250%

Crypto markets rebound after Trump signals retreat on EU tariffs as BitGo prices IPO

Major cryptocurrencies traded higher after President Donald Trump signaled a pullback from proposed tariff measures targeting the European Union, easing some of the macro pressure that has recently weighed on risk assets.

Bitcoin rose about 2% to $89,900, while Ether gained roughly 2% to $2,995. Solana climbed around 2% to $130, and XRP added about 3% to $1.94. Among the sharper movers, CC was up 15%, SKY rose 11%, and SAND gained 10%.

The rebound followed a volatile stretch that included more than $1 billion in crypto liquidations, underscoring how quickly leveraged positioning can unwind when markets swing. Traders often treat tariff headlines as a proxy for broader growth and inflation risks, which can feed through to expectations around interest rates and liquidity—key drivers for crypto pricing.

In corporate news, crypto custody firm BitGo announced plans for a public listing priced at $18 per share, valuing the company at roughly $2 billion. The move adds to a broader trend of crypto-native firms testing public markets and could be watched closely as a signal of investor appetite for crypto infrastructure businesses.

Regulatory developments remained active across jurisdictions. The Senate Agriculture Committee indicated its version of the Clarity Act will move to markup next week, despite an absence of bipartisan support. Trump also said he hopes to sign a crypto market structure bill soon, even as disagreements continue over how broad the regulatory framework should be.

Outside the U.S., Hong Kong regulators moved toward issuing stablecoin licenses under a new regime that imposes strict requirements around compliance, reserves, and operations. In Russia, courts ruled that cryptocurrencies qualify as property under law, establishing a precedent likely to influence future criminal and civil cases.

Several industry and adoption updates also drew attention:

• Ethereum research: Vitalik Buterin proposed native distributed validator technology (DVT) staking as a way to strengthen network security and decentralization, reflecting continued experimentation at the protocol level.
• Mortgages and crypto assets: Mortgage lender Newrez explored counting Bitcoin and Ethereum toward mortgage qualification using discounted valuations to account for volatility.
• Security incident: Saga’s EVM blockchain halted operations after a $7 million hack, with stolen funds bridged to Ethereum.
• Workplace adoption: Steak ’n Shake introduced a Bitcoin bonus program for hourly employees, allowing workers to receive a portion of compensation in BTC.

Together, the day’s move highlighted how crypto prices can respond quickly to shifts in macro headlines while the sector continues to evolve through regulatory action, infrastructure maturation, and ongoing security challenges.