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Thursday, 20 August 2026

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Crypto Stocks Extend Massive Gains on Trump White House Push and Dollar Slump

By Tim Clark3 min read

New York, 20 August 2026 – Shares of digital asset companies and crypto-linked equities surged on Thursday, extending a powerful global rally after United States President Donald Trump hosted leading cryptocurrency executives at the White House to champion supportive market legislation, coinciding with a weakening US dollar and falling sovereign bond yields.

The digital asset rally triggered the largest wave of short liquidations since 2021, wiping out more than $2.7 billion in bearish positions across digital tokens in less than 24 hours. Bitcoin leaped past $71,500 to touch its highest level since early June, while Ether jumped more than 16 percent to trade above $2,250.

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Author

  • Tim Clark is a Senior Geopolitical Analyst for The Ledger Asia, specializing in the intersection of international relations and market stability. With over a decade of experience, Tim provides deep-dive insights into Indo-Pacific security, global supply chain resilience, and the strategic competition between major powers.

    Previously a consultant for leading international think tanks, he focuses on how shifting diplomatic landscapes and maritime disputes impact corporate governance and trade policy. At The Ledger Asia, Tim’s analysis equips readers with the clarity needed to navigate the complex regulatory and economic environments of Southeast Asia and beyond.