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Crypto markets rebound as Trump, Vance signal openness to China trade deal. (00:25) Xiaomi shares slide following reports of EV crash. (02:10) UPS telling some customers packages bound for the U.S. are being destroyed. (02:52)
This is an abridged transcript.
Major cryptocurrencies are staging a rebound after a bruising weekend selloff, as President Donald Trump moved to ease worries over trade tensions between the U.S. and China.
According to CoinGecko, the total market value of all cryptocurrencies climbed more than 6% to surpass $4 trillion. Bitcoin (BTC-USD) recovered to around $115,000, after briefly dipping below $105,000 on Friday in the U.S.
Smaller tokens also bounced back, with Ether (ETH-USD) rising to about $4,100 after falling below $3,500. Other notable crypto gainers included XRP (XRP-USD) +4%, Binance Coin (BNB-USD) +3.3%, Stellar (XLM-USD) +1.3%.
The rebound followed Sunday comments from President Donald Trump and Vice President JD Vance, who signaled a willingness to reach a trade agreement with China. The remarks came after Friday’s announcement of steep new China tariffs by Trump, which wiped out a record $19 billion in crypto positions and triggered a sharp market selloff.
As of the time of this recording, Crypto exchanges Coinbase Global (COIN) +3.2% and Bullish (BLSH) +3.2%. Stablecoin issuer Circle Internet Group (CRCL) +5.4% and blockchain-based lender Figure Technology Solutions (FIGR) +2.9% — both of which went public earlier this year.
Crypto-linked stocks to watch: Riot Platforms (RIOT) +3%, Marathon Digital (MARA) +4.7%, MicroStrategy (MSTR) +2.3%, Sharplink Gaming (SBET) +4.4%, Bit Digital (BTBT) +5.8%, BitMine Immersion Technologies (BMNR) +7%, CleanSpark (CLSK) +5.5%.
Shares of Chinese smartphone and EV maker Xiaomi Corp. (OTCPK:XIACF) (OTCPK:XIACY) dropped over 7% on Monday after reports of a car crash in China.
One of its SU7 electric sedan’s doors failed to open after a fiery crash in the southwest Chinese city of Chengdu.
Chinese media reports and videos circulating on social media platforms, including Weibo, showed the vehicle after it crashed and burst into flames early Monday.
Last month, the Chinese consumer tech giant said it would issue a software update for over 115,000 of its SU7 electric sedans to fix potential safety issues when its assisted driving features are used.
The busy holiday shipping season is fast approaching and customers are starting to worry about whether packages will reach their final destination.
Thousands of U.S.-bound packages shipped via UPS (NYSE:UPS) are stuck in hubs nationwide, with the company stating it has begun “disposing of” some shipments due to a “nightmare” of new customs requirements imposed by the Trump administration.
The issue stems from the end of the long-standing “de minimis” tariff exemption on August 29. Previously, packages valued at $800 or less could enter the United States duty-free. Now, these shipments are subject to numerous tariffs and fees which has created a complex and costly process.
Frustrated customers have reported weeks of delays and confusing, often contradictory, tracking updates, according to NBC.
In a statement, UPS attributed the problem to “missing or incomplete information” required by the new U.S. import regulations.
The situation presents a potential problem for the company, whose stock price has already fallen over 30% this year due to factors including tariffs and competition. Some shippers have decided to switch to competitors like FedEx (FDX).
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Catalyst watch:
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The Nvidia Corporation Open Compute Project (OCP) Global Summit 2025 will showcase Nvidia’s (NVDA) latest innovations in accelerated computing, including AI infrastructure, networking, energy efficiency, and security.
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The four-day Cloudflare Connect conference will begin. Cloudflare (NET) management will discuss AI, cybersecurity, and cloud infrastructure topics.
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Oracle (ORCL) will hold its flagship conference, recently retitled Oracle AI World. The event focuses on advancements in cloud, AI, and enterprise technology, featuring high-profile keynote speakers such as Oracle Chief Technology Officer Larry Ellison.
Dow, S&P and Nasdaq futures are in the green. Crude oil is up 1.8% at $60/barrel. Gold is up 1.6% at $4,077.
The FTSE 100 is up 0.1% and the DAX is up 0.6%.
On today’s economic calendar:
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12:10 pm Philadelphia Federal Reserve Bank President Anna Paulson speaks on “A View from the Federal Reserve Bank of Philadelphia” before the National Association for Business Economics 67th Annual Meeting,”Global Economy in Transition: Finding Opportunity Amid Disruption”
Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.