For years, a Chinese company has dominated one of the most lucrative corners of the cryptocurrency universe. Rising political tensions, and the prospect of Donald Trump retaking the White House, pose an unprecedented threat to that reign.
Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 16% and saddling second-ranked Ether with the steepest fall since 2021.
Ether, the second-largest token, paced a drop in digital assets following a slump in equities that spread unease in global markets.
The US is reclaiming its position as the undisputed top dog of cryptocurrency markets.
