Crypto-focused companies such as Coinbase, Block Inc., and Robinhood have seen shares drop 11% to 14% this week due to macroeconomic concerns and mixed corporate earnings. Despite strong results from Coinbase’s “Everything Exchange” initiative, shares failed to maintain momentum. Block Inc. faced selling pressure after missing quarterly forecasts.

Robinhood delivered solid third-quarter results but experienced a leadership shake-up and slower-than-expected growth in its crypto segment, causing shares to drop. Despite this week’s declines, Robinhood remains the best-performing stock of the trio, up over 200% year-to-date. Broader market pressures and declining risk appetite have weighed on crypto-linked equities.

The digital asset market is facing risk-off sentiment due to the US government shutdown and fallout from a historic liquidation event last month, wiping out $19 billion in leveraged positions. Crypto.com CEO Kris Marszalek called for a regulatory review into how exchanges managed the sell-off. Bitcoin briefly slid below $100,000, marking a 20% correction from its all-time high.

Read more at Cointelegraph: Crypto Stocks Sink as Macro Jitters Hit Coinbase, Block, Robinhood