According to COINOTAG News on April 1st, Coinbase, a prominent U.S.-based cryptocurrency exchange, has encountered its most severe quarterly dip since the infamous FTX collapse in 2022. This decline saw a staggering 33% drop in its stock price for Q1 2025. As investors await the impending release of the financial results in early May, the latest shareholder letter indicates that from February 11th, Coinbase generated approximately $7.5 billion in transaction revenue, anticipating subscription revenues between $6.85 billion and $7.65 billion. While Coinbase has not yet revealed its Q1 profit figures, MarketBeat analysis projects a profit of around $1.87 billion. Furthermore, Coinbase is not the only player suffering; other publicly traded crypto firms have reported similar downturns this quarter. For example, Marathon Digital, a leading mining company, saw its stock plummet from $17.5 to $11, marking a significant loss of over 37%.
The broader financial landscape reveals that the S&P 500 index has also succumbed to fluctuations, dropping from 5890 points at the start of the quarter to 5610 points, reflecting a decrease of approximately 4.75%. The atmosphere remains tense as geopolitical tensions, particularly related to U.S. trade policies initiated by President Donald Trump, continue to amplify market volatility. As the prospect of a global trade war looms, both traditional and cryptocurrency investors are bracing for the ramifications of an anticipated tariff announcement scheduled for April 2nd.