Publicly traded US-based crypto exchange Coinbase saw its worst quarter since the collapse of crypto exchange FTX in 2022.
Coinbase shares started 2025 trading at just over $257 on Jan. 2 and ended the quarter at a little over $172 on March 31, a dip of 33%, according to market data.
This makes the first quarter of 2025 the worst for Coinbase’s stock performance since the collapse of FTX in November 2022. In Q4 of that year, its share price went from nearly $66 on Oct. 3 to $35.4 on Dec. 30, a loss of 46.4%.
Coinbase shares year-to-date price chart. Source: Google Finance
Coinbase has gained a significant foothold in the crypto market. Its prevalence is substantial enough that some industry experts recently told Cointelegraph its emergence as the Ethereum network’s largest node operator raises concerns about network centralization.
Related: South Carolina dismisses its staking lawsuit against Coinbase, joining Vermont
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