Did Trump's 100% Tariff on Chinese Goods Drive a Man to Suicide? Crypto Influencer Found Dead in His Car

Top cryptocurrencies fell after US President Donald Trump imposed 100% tariffs on 'any and all critical software' from China, amid growing geopolitical tensions.

Soon after, cryptocurrencies like Bitcoin and Ethereum witnessed record liquidations as investors moved money into other safer assets.

Bloomberg data revealed that over $19 billion (£14.2 billion) in crypto bets were wiped out within 24 hours following Trump's announcement on his Truth Social platform. Bitcoin prices fell by over 10% to as low as $110,000 (£82,466) while Ethereum fell over 11.2% on the news. Meanwhile, prices of trending cryptocurrencies like XRP and Dogecoin also declined by 19% and 27%, respectively.

In tandem with one of the major crypto market crashes in recent times, a popular Ukrainian crypto investor and influencer, Konstantin Galich, supposedly took his own life inside his Lamborghini Urus in the Obolonskyi district of Kyiv.

Recovered Firearm Registered Under Galich's Name

Galich, who was 32 years old, was found inside his car with a gunshot wound to the head. The Kyiv Police Department confirmed in its official Telegram channel that a firearm registered under his name was also recovered at the scene.

A statement shared on the Kyiv Police Department's Telegram channel said that a day before Galich's death, 'the man told relatives that he was feeling depressed due to financial difficulties and also sent them a farewell message.'

The death of Galich, better known as Kostya Kudo, has shocked the crypto community. He founded the Cryptology Key trading academy and was an active influencer in digital asset markets with thousands of followers on Instagram.

Trump's announcement triggered panic among crypto investors. In the major liquidation event that followed, around $400 billion (£299.8 billion) was wiped off the value of the crypto market, according to multiple media reports.

JD Vance Signals More Potential Volatility Ahead

US Vice President JD Vance said Trump was committed to safeguarding America's economic livelihoods while making the US more self-sufficient. He explained that China having 'so much control over critical supply in the United States of America' implies a national emergency and justifies Trump's move to slap exorbitant tariffs.

'It's going to be a delicate dance and a lot of it is going to depend on how the Chinese respond,' Vance recently told Fox News. 'If they respond in a highly aggressive manner, I guarantee you the president of the United States has far more cards than the People's Republic of China.'

If Beijing is willing to be reasonable, Trump could be a reasonable negotiator. 'We're going to find out a lot in the weeks to come about whether China wants to start a trade war with us or whether they actually want to be reasonable,' Vance concluded.

The passing away of Galich shows how the highly volatile cryptocurrency industry could wipe out entire investments. Despite mass adoption by people and corporations, the risks of massive losses from crypto investments have barely changed compared with earlier years.

Disclaimer: Our digital media content is for informational purposes only and not investment advice. Please conduct your own analysis or seek professional advice before investing. Remember, investments are subject to market risks and past performance doesn't indicate future returns.