Crypto Market Suffers $343 Million Liquidation Amidst Protests

A major cryptocurrency market downturn saw over $343 million in liquidations triggered by protests during a Trump-linked crypto event in Washington, D.C., on May 23, 2025. Bitcoin and Ethereum were hit hardest as the event exposed the industry’s vulnerability to external pressures and political influences. Market analyst Fawad Razaqzada highlighted the volatility of this event, noting significant unwinding of positions across various cryptocurrencies. This incident adds to a history of market instability during periods of high-pressure events, leading some to question whether it indicates potential regulatory action or future interventions.