Coinbase记录了自FTX崩溃以来最糟糕的季度，发布了30％

Coinbase是美国最大的加密交易所，自2022年底FTX剧烈崩溃以来，它的季度最糟糕。

Coinbase (NASDAQ:COIN) has encountered its worst quarter since the dramatic collapse of FTX in late 2022, with its stock plummeting by 30% in Q1 2025.

自2022年底FTX剧烈崩溃以来，Coinbase（NASDAQ：COIN）遇到了最糟糕的季度，其股票在2025年第1季度下降了30％。

Coinbase’s stock price movements have closely mirrored the steep losses seen across the broader crypto market. According to Bloomberg, the sharp decline has hit several other major crypto-related stocks as well.

Coinbase的股票价格变动与更广泛的加密货币市场所看到的巨大损失相似。据彭博社报道，急剧下降也击中了其他几项与加密相关的主要股票。

This includes Galaxy Digital (CRYPTO:GLXY), Riot Blockchain (NASDAQ:RIOT), and Core Scientific (NYSE:CORE), all of which have experienced significant downturns.

这包括Galaxy Digital（加密：GLXY），RIOT区块链（NASDAQ：RIOT）和Core Scientific（NYSE：Core），所有这些都经历了严重的低迷。

Furthermore, Bitcoin (CRYPTO:BTC) has dropped by 10% this quarter, and Ethereum (CRYPTO:ETH) has seen an even more staggering 45% decline. These losses reflect a broader downturn in the crypto market, fueled by several macroeconomic factors.

此外，本季度比特币（Crypto：BTC）下降了10％，以太坊（Crypto：ETH）的下降幅度更高45％。这些损失反映了加密货币市场的衰退，这是有几个宏观经济因素的推动力。

Analysts point to the global uncertainty surrounding the U.S. economy, including concerns over Trump’s tariffs and recession fears. This has resulted in a general “risk-off” mood among investors.

分析师指出了围绕美国经济的全球不确定性，包括对特朗普的关税和衰退恐惧的担忧。这导致了投资者的普遍“冒险”情绪。

“In a risk-off mood, no asset is safe stocks, crypto, all get hit. It’s more about sentiment than fundamentals in those moments,” an investor commented on X.

一位投资者对X表示：“在冒险的心情下，没有资产是安全的股票，加密货币，全部受到打击。这比那些时刻的基本原理更多。”

While some point to these macroeconomic pressures as the primary cause, others argue that the market’s underperformance is more due to lingering fears of trade wars and broader geopolitical instability.

尽管有些人将这些宏观经济压力视为主要原因，但其他人则认为，市场的表现不佳是由于对贸易战的恐惧和更广泛的地缘政治不稳定的持续存在。

“Trump’s trade wars are driving markets into a panic. As much as he is doing for crypto, the macro market conditions are speaking louder – as bullish as the news is from the white house – His trash trade war is squelching any price surge,” another X user remarked.

另一位X用户指出：“特朗普的贸易战正在使市场陷入恐慌状态。尽管他为加密货币所做的事情，宏观市场状况的声音越来越大 - 就像白宫的新闻一样看涨 - 他的垃圾贸易战正在散发出任何价格上涨。”

Coinbase has been especially hit in this downturn. Coinbase’s revenue model is heavily reliant on altcoins and transaction volumes beyond Bitcoin. Hence, the overall market drop could have made a mark on the exchange’s stock prices.

Coinbase在这种低迷中尤其受到打击。 Coinbase的收入模型在很大程度上依赖AltCoins和Bitcoin以外的交易量。因此，整体市场下跌本可以在交易所的股价上留下标志。

Moreover, the news comes as Coinbase users have collectively lost more than $46 million to scams in March alone.

此外，这一消息传来了，因为Coinbase用户仅在三月份就损失了超过4600万美元的骗局。

See More: Top 5 Crypto Influencers To Follow In 2023

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As crypto continues to bleed, other assets have fared much better. Gold (GOLD) has surged, posting its best quarter since 1986 as investors flock to safer assets amid the market turmoil.

随着加密货币继续流血，其他资产的状况已经好得多。黄金（黄金）激增，自1986年以来发布了最佳季度，因为投资者在市场动荡中涌向更安全的资产。

The shift toward traditional assets is particularly noticeable as the post-election crypto hype, which briefly boosted Bitcoin’s value to $109,000, begins to fade. However, despite the overall market challenges, some crypto-related firms have shown resilience.

向传统资产的转变尤其明显，因为选举后加密宣传炒作将比特币的价值短暂提高到109,000美元，开始消失。但是，尽管面临整体市场挑战，但一些与加密相关的公司表现出了弹性。

MicroStrategy (NASDAQ:MICRO), led by CEO Michael Saylor, remains in the green year-to-date, bolstered by its substantial Bitcoin holdings.

由首席执行官Michael Saylor领导的MicroStrategy（NASDAQ：MICRO）仍然是绿色至今的绿色，其大量比特币持有量得到了支持。

For now, the crypto market is left to weather the storm, with analysts continuing to scrutinize the interplay of macroeconomic factors and its impact on digital assets.

目前，加密货币市场要避开风暴，分析师继续仔细检查宏观经济因素的相互作用及其对数字资产的影响。