Markets reacted negatively after Donald Trump announced plans for 100% tariffs on Chinese goods starting November 1, with S&P 500 dropping 2.7%. Crypto-related stocks including Coinbase, Bullish, and MARA experienced significant declines amid broader market volatility.

Google has taken a 5.4% ownership position in Bitcoin mining firm Cipher Mining, revealed Thursday alongside a $3 billion multi-year agreement where AI cloud platform Fluidstack will lease computing capacity from Cipher's 168-megawatt Texas facility. Google backs Fluidstack's $1.4 billion lease obligations in exchange for 24 million Cipher shares.

Global crypto millionaires increased by 40% to 241,700, with Bitcoin responsible for 60% of this growth according to Henley & Partners' 2025 Crypto Wealth Report. The cryptocurrency market is projected to surpass $3.3 trillion by mid-2025, while Bitcoin holders worldwide reached 295 million, representing a 7% annual increase.