Friday has gone from bad to worse for crypto assets as U.S. President Trump said he would impose an additional 100% tariff on China, sending prices cascading lower in a flash crash.

Bitcoin (BTC), already trading weak at around $117,000 following Trump's late morning comments about threatening China with tariffs, tumbled below $110,000, down 12% over the past 24 hours. Ether (ETH) tanked 16% below $3,700, while other major altcoins XRP (XRP), solana (SOL) and dogecoin (DOGE) crashed 20%-30%. The native tokens of Cardano (ADA), Chainlink (LINK) and Aave (AAVE) fell as much as 40%

Friday's market meltdown lead to over $7 billion in liquidations from traders who bet on higher prices, according to CoinGlass.

The latest flare-up in trade tensions between U.S. and China occurred as Trump said

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