Shares of Coinbase and other cryptocurrency firms have faced significant losses this quarter amid growing economic concerns in the US Coinbase’s stock has dropped over 30%, marking its worst performance since the FTX collapse in late 2022.

Economic uncertainty, including recession fears and trade tensions, has contributed to market unease.

The S&P 500 Index is on track for its worst quarter since mid-2022, leading traders to move away from riskier assets like cryptocurrencies.

Oppenheimer analyst Owen Lau attributed the decline in crypto stocks to macroeconomic factors, including tariffs and recession concerns.

He also noted that crypto stocks tend to be more volatile than Bitcoin, carrying additional risks.

Recent Coinbase developments