Crypto crash wipes millions from Coinbase, Strategy stocks as Trump trades flip

5 months ago 32

Crypto stocks person mislaid astir each gains made since Trump’s predetermination win.
Strategy and Coinbase person plunged implicit 40% from their caller peaks.
Robinhood’s crypto roar continues, but its banal has pulled backmost from grounds highs.

The crypto clang has wiped retired implicit 40% of Strategy and Coinbase’s banal terms arsenic the manufacture has taken a hammering — and they are not alone.

The plunges travel arsenic the full crypto market’s worth has tumbled 28% from its $3.9 trillion December all-time precocious to $2.8 trillion today.

President Donald Trump’s predetermination triumph fuelled integer assets’ surge astatine the extremity of 2025 arsenic traders counted connected his promises to unbend crypto rules to trigger a immense bull run.

Crypto stocks roseate successful tandem, but those gains person been erased successful the wipeout this week.

“The Trump pump has been vaporised arsenic cryptocurrency markets participate utmost fearfulness mode,” Petr Kozyakov, co-founder and CEO of Mercuryo, told DL News.

Several factors person been fingered arsenic driving the slump successful crypto and banal markets.

Chief among them is Trump’s menace to enforce tariffs against Canada, Mexico and China connected March 4, and Federal Reserve policy.

Here’s however 5 of the starring crypto stocks person performed.

Strategy

Michael Saylor’s Bitcoin-powered rebrand hasn’t shielded his institution from the marketplace rout.

Shares of Strategy, formerly MicroStrategy, person plunged 57% from its all-time precocious of $543 successful November, present trading astir $233 successful premarket.

With its bundle concern successful decline, Strategy has afloat embraced its caller individuality arsenic a Bitcoin holding vehicle, accumulating astir 500,000 Bitcoin — worthy $40 billion successful today’s prices.

Saylor is undeterred by the sell-off and doubled down connected his Bitcoin maximalism today, tweeting, “Sell a kidney if you must, but support the Bitcoin.”

Coinbase

Coinbase banal is down implicit 40% since its December precocious of astir $350.

It had surged to the high, fuelled by optimism astir Trump’s predetermination victory.

That momentum was inactive live earlier this period erstwhile CEO Brian Armstrong declared the “dawn of a new era for crypto” arsenic the speech reported a 130% quarterly gross spike to $2.2 billion.

Robinhood

Trading app Robinhood’s banal has fallen implicit 27% from its $66 precocious 2 weeks ago.

The fintech firm’s crypto portion has been a monolithic gross operator for Robinhood.

In the 4th quarter, crypto trades accounted for fractional its $672 cardinal successful transaction-based revenue, surging 700% year-over-year.

That pushed Robinhood’s full 2024 gross up 58% to $2.9 billion, with nett income hitting $1.4 billion.

Earlier this week, concern slope Morgan Stanley predicted that the existent marketplace rout volition alteration Robinhood to instrumentality crypto marketplace stock from its rivals and pump the terms arsenic precocious arsenic $120 by adjacent February.

Block

X co-founder Jack Dorsey’s payments institution Block has fallen 35% since its December precocious and present trades astatine $64.28.

Crypto has been a halfway portion of the institution for years. It has offered Bitcoin trading since 2018 and has agelong designed Bitcoin mining equipment.

Riot

Riot Platforms, 1 of the largest publically traded Bitcoin mining firms, has struggled to summation momentum, with shares present trading astatine $8.50 successful premarket — wiping retired each gains since October 2024.

Despite little spikes, the banal has lone touched a precocious of $17 successful the past year, acold beneath its 2021 bull tally highest of implicit $70.

Crypto marketplace movers

Bitcoin has mislaid 5.7% implicit the past 24 hours and is trading astatine $81,150.
Ethereum is down 8.7% successful the aforesaid period, trading for $2,140.