MARA Holdings, a leading cryptocurrency mining company, saw its stock plunge 7.36% in the pre-market trading session on Monday.
The decline in MARA Holdings' stock price was driven by broader concerns over a potential global trade war. Cryptocurrency prices, including Bitcoin, slid on Monday, with Bitcoin touching a three-week low of around $91,441.89 during the morning trading session in Asia.
Over the weekend, U.S. President Donald Trump imposed tariffs on imports from Mexico, Canada, and China, prompting these countries to vow retaliatory measures. The prospect of escalating trade tensions between the U.S. and its major trading partners weighed heavily on investor sentiment, leading to a selloff in riskier assets, including cryptocurrencies and cryptocurrency-related stocks.
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