Coinbase Sees Worst Quarter Since FTX Fell as Crypto Slides (1)

Shares of Coinbase Global Inc. and other firms linked to cryptocurrencies were hammered this quarter as growing concerns about the US economy weighed on digital assets.

Coinbase fell 31% in the worst quarterly performance since FTX collapsed near the end of 2022. Nearly every major crypto-linked stock plunged alongside it, from conglomerate Galaxy Digital Holdings Ltd. to miners such as Riot Platforms Inc. and Core Scientific Inc. Things haven’t been much better in crypto markets, with Bitcoin tumbling more than 10% and Ether losing 45% of its value.

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