The Bitcoin mining industry is facing significant challenges amid the US-led trade war, with miners such as CleanSpark and IREN warning of potential tariff liabilities exceeding $185 million and $100 million respectively. These tariffs are due to accusations that certain mining rigs are of Chinese origin, subjecting them to an effective duty of 57.6%. While facing these headwinds, the blockchain sector is also trying to attract institutional investors, as seen with Polkadot's establishment of the Polkadot Capital Group aimed at highlighting blockchain uses for traditional finance. In another significant development, China may approve yuan-backed stablecoins, indicating a shift in its previously strict stance on digital assets. On the investment side, SharpLink, a sports betting firm, has made a major purchase of ETH, acquiring $667.4 million worth while boosting its total holdings to 740,760 ETH. Despite recent price corrections, ETH has performed well overall, showcasing the ongoing interest in cryptocurrencies.

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