decrypt.co
President Donald Trump said Wednesday that he will allow a 90-day pause on the implementation of trade tariffs against most countries, prompting cryptocurrency and stock prices alike to spike in the immediate aftermath.
Bitcoin is up more than 4% on the hour to a price above $81,000, while Ethereum has spiked nearly 6% in that span to $1,580 and XRP is up nearly 9% to $2.00. Stock indices are also surging, with the S&P 500, Dow, and Nasdaq all showing daily climbs in excess of 5% as of this writing.
"I have authorized a 90-day PAUSE, and a substantially lowered reciprocal tariff during this period, of 10%, also effective immediately," Trump wrote on Truth Social, noting that China is excluded from the tariff pause.
Editor's note: This story is breaking and will be updated with additional details.