Global cryptocurrency markets faced significant volatility this week, with over $19 billion wiped out in a single day. Bitcoin's price briefly dipped below $111,000, driven by escalating geopolitical tensions between the U.S. and China and regulatory warnings from the G20's Financial Stability Board (FSB). The FSB emphasized 'significant gaps' in global crypto regulation, calling for enhanced cross-border cooperation to mitigate systemic risks. The market downturn was exacerbated by U.S. President Trump's imposition of a 100% tariff on Chinese tech imports, leading to double-digit losses across major cryptocurrencies. In a contrasting development, Erebor Bank, co-founded by Palmer Luckey, secured preliminary approval from the U.S. Office of the Comptroller of the Currency, advancing the prospects for regulated crypto banking. Additionally, the UK proposed tokenizing investment funds, while G7 banks considered issuing stablecoins backed by major currencies.