Wall Street Breakfast Crypto bounces back
Oct 13, 2025
Cryptocurrency markets are enjoying a rebound, fueled by hints of a potential trade deal with China from Trump and Vance. Meanwhile, Xiaomi’s shares took a hit following a concerning crash involving their electric vehicle. UPS is facing chaos as some packages meant for the U.S. are reportedly being destroyed under new customs rules. Additionally, silver prices are surging to historic highs, and economists are predicting a mix of stronger growth alongside slower job gains.
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Crypto Rebounds On Trade Optimism
- Major cryptocurrencies rebounded over 6% after Trump and J.D. Vance signaled willingness to negotiate a trade deal with China.
- Bitcoin and Ether recovered sharply, and crypto-linked stocks and exchanges rose in early trading.
Xiaomi EV Crash Sparks Share Drop
- Xiaomi shares fell over 7% after videos showed a SU7 sedan crashing and catching fire in Chengdu.
- The company recently planned a software update for over 115,000 SU-7 cars to fix assisted-driving safety issues.
Customs Rule Change Strains UPS
- UPS is disposing of some U.S.-bound packages after new customs rules ended the $800 de minimis exemption.
- Missing or incomplete import data and added fees have caused nationwide hub backlogs and frustrated shippers.