Coinbase Stocks Slide Over 30% This Quarter, Matching Post-FTX Collapse Lows
Coinbase (COIN) shares have declined over 30% in Q1, marking its worst performance since the FTX collapse. This decline reflects a broader downturn in major crypto-linked stocks, including Galaxy Digital Holdings, Riot Platforms, and Core Scientific. The cryptocurrency market is turbulent, with Bitcoin (BTC) down over 20% from its all-time high and Ethereum (ETH) dropping more than 45%. Concerns about the US economy, exacerbated by a potential trade war initiated by President Trump, have negatively impacted investor sentiment. Analysts indicate that macroeconomic factors, rather than fundamental issues, are driving market volatility. The threat of recession has increased risks for crypto-linked stocks, making them more susceptible to sell-offs. Despite the downturn, the cryptocurrency industry is gaining influence in Washington, though this has not yet led to a market recovery.
