Coinbase suffers worst quarter since FTX crash, Q1 share price drops 33%

Odaily Planet Daily News Affected by the overall downturn in the crypto market, the US-listed crypto exchange Coinbase's stock price fell 33% in the first quarter of this year, marking its worst quarterly performance since the FTX crash in 2022. Data shows that Coinbase's stock price fell from $257 on January 2 to $172 on March 31, slightly lower than the 46.36% drop during the FTX crash in 2022. In addition, many crypto mining companies also suffered a sharp pullback, with Marathon Digital, Riot Platforms and Hut 8 falling 37%, 32% and 45% respectively. In addition, US President Trump's trade policy has caused market uncertainty, further exacerbating volatility in traditional and crypto markets. Coinbase is expected to release its 2025 Q1 financial report in early May, and the market estimates that its quarterly profit will be approximately US$1.87 billion. (CoinDesk)