Shares of Coinbase (COIN), the largest crypto exchange in the US, have faced significant declines during the first quarter (Q1) of the year, primarily due to escalating concerns about the US economy and its impact on digital assets.
Coinbase And Others Face Increased Volatility
According to Bloomberg, Coinbase’s stock has dropped more than 30% since the beginning of the quarter, marking its worst performance since the collapse of the FTX exchange in late 2022.
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This decline is reflective of a broader trend affecting nearly all major crypto-linked stocks, including companies like Galaxy Digital Holdings (GLXY.TO), Riot Platforms (RIOT), and Core Scientific (CORZ).
The cryptocurrency market itself is experiencing turmoil, with Bitcoin (BTC) falling over 20% from its all-time high and Ethereum (ETH) plummeting more than
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