A group of European Parliament members stopped a vote to approve a trade deal between United States and the European Union.
This comes on Jan. 21 as U.S. President Donald Trump continued to threaten to seize Greenland and impose tariffs of up to 35% on countries opposing his plan.
Bernd Lange, chair of Parliament's trade committee, in a post on X, said,
"Now official: EU-US deal is on hold until further notice! Our negotiating team just decided to suspend work of @ep_trade on the legal implementation of Turnberry deal. Our sovereignty and territorial integrity are at stake. Business as usual impossible!"he wrote.
Related: Jim Cramer delivers blunt Bitcoin warning amid Greenland tensions
The Turnberry deal refers to a framework trade agreement reached in July 2025 between the United States and the European Union at Turnberry, Scotland, during talks between Trump and European Commission President Ursula von der Leyen.
It isn't yet a fully ratified treaty but a preliminary political accord on trade policy.
It remains unclear whether the entire trade pact, which included 15% tariffs on EU exports to the U.S., has been canceled or if sections already enacted will stay in place.
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Bitcoin, XRP bleed further
The crypto market was in the red ahead of Trump's speech at the World Economic Forum in Davos on Jan. 21.
Bitcoin further slipped to $89,000 while others showed volatile activity.
After Trump announced that he would avoid using brute force to acquire Greenland, cryptocurrencies recovered by 1%-2%.
However, amid rising tensions in Davos among European world leaders and the U.S., crypto has begun bleeding again.
In the past one hour, Bitcoin was down 2.3% to trade at $87,583.59 while Ethereum fell by 3.0% to trade at $2,893.72, as per CoinGecko .
XRP was down by 3.2%, changing hands at $1.89, while Solana slipped by 2.5% to trade at $126.23.
In the past hour, $152.58 million worth crypto was liquidated, as per Coinglass.
This is a developing story.
Related: Bitcoin, XRP plummet ahead of Trump's WEF address at Davos
This story was originally published by TheStreet on Jan 21, 2026, where it first appeared in the Trading News & Analysis section. Add TheStreet as a Preferred Source by clicking here.
