A historic week of liquidations, geopolitical shock, and corporate maneuvering reshaped the crypto ecosystem.

The market reeled after Trump’s 100% tariff announcement on China triggered $9.55 to $20 billion in liquidations — the largest in crypto history. Bitcoin fell from $122K to $102K before stabilizing near $110K, as investors rotated into gold, which soared to a record $4,200.

While macro forces rattled markets, a seismic power struggle unfolded between Binance and Coinbase. Binance battled listing scandals and outflow rumors, deploying a $400 million “Together Initiative” to shore up confidence. Coinbase seized the moment with its “Blue Carpet” zero-fee listing policy and a headline-grabbing move to add rival token $BNB to its roadmap.

Meanwhile, Monad launched its $6.9 billion Layer-1 airdrop, Charles Schwab and Citibank confirmed crypto services for 2026, and S&P Global partnered with Chainlink Labs to standardize on-chain data flows. NFT volumes fell amid macro pressure, but top-end sales and art-block auctions remained active.