The announcement of a 100% tariff on Chinese goods by former U.S. President Trump has triggered a global market panic, leading to significant losses in both crypto and stock markets. Within 24 hours, the crypto market experienced over $19 billion in leveraged positions liquidated, with Bitcoin's value plummeting by more than 12%. This turmoil has severely impacted Digital Asset Treasury (DAT) companies, which hold substantial crypto assets. MicroStrategy, the largest corporate holder of Bitcoin, saw its stock decline by 4.84%. Smaller DAT firms, such as Forward Industries and BTCS Inc., suffered even steeper losses, with their stocks dropping over 12%. The market is increasingly skeptical about the sustainability of the DAT model, as many firms' modified net asset value (mNAV) ratios are nearing or falling below 1, reflecting a growing loss of confidence in the sector.