From Cointelegraph and April 1, 2025 9:47 am:

Coinbase experienced its worst quarter since FTX’s collapse in 2022, with shares dropping 33% from Jan. 2 to March 31. The company has become a major player in the crypto market, raising concerns about network centralization. Coinbase is expected to release its 2025 financials soon, with estimated Q1 profits of $1.87 billion.

Other publicly traded crypto companies also saw significant losses in Q1 2025. Marathon Digital Holdings, Riot Platforms, Bitfarms, Hut 8, Hive Digital Technologies, and Canaan Creative all experienced drops in stock prices ranging from 32% to nearly 58.4%. These losses reflect a broader trend in the industry.

Geopolitical factors, including US President Donald Trump’s trade war, have contributed to the market downturn. The S&P 500 index lost over 4.75% in Q1. Concerns over a potential US tariff announcement on April 2 are adding to investor uncertainty. Companies like Strategy (formerly MicroStrategy) are holding up better due to their focus on Bitcoin and strong growth in 2024.

Read more at Cointelegraph: Coinbase sees worst quarter since FTX collapse amid industry bloodbath