公开交易的总部位于美国的加密货币交易所Coinbase看到了最糟糕的季度

自2022年加密交易所FTX倒闭以来，公开交易的总部位于美国的加密交易所Coinbase最糟糕的季度。

Publicly traded US-based crypto exchange Coinbase (NASDAQ:COIN) has seen its worst quarter since the collapse of crypto exchange FTX in 2022.

自2022年加密货币交易所FTX崩溃以来，公开交易的总部位于美国的加密交易所Coinbase（NASDAQ：COIN）已经看到了其最糟糕的季度。

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.

根据市场数据，Coinbase股票的交易量为2025年，在1月2日的交易价格刚刚超过257美元，并于3月31日以172美元的价格结束，下降了33％。

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%.

这使得2025年的第一季度是自2022年11月FTX自FTX崩溃以来Coinbase股票表现最糟糕的。当年第四季度，其股价从10月3日的近66美元到12月30日的35.4美元，损失了46.4％。

Coinbase shares year-to-date price chart. Source: Google Finance

Coinbase分享了年龄至今的价格图。资料来源：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.

Coinbase在加密货币市场上取得了巨大的立足点。它的流行率足够巨大，以至于一些行业专家最​​近告诉Cointelegraph，由于以太坊网络最大的节点运营商引起了人们对网络集中化的担忧。

See Also: South Carolina Cancels Coinbase Case, Joining Vermont In Dismissing Crypto-Related Lawsuits

另请参阅：南卡罗来纳州取消Coinbase案，加入佛蒙特州驳回与加密相关的诉讼

Coinbase is expected to release its 2025 financials in early May. The firm’s recent shareholder letter shows that the company has generated about $750 million in transaction revenue through Feb. 11 and expects subscription revenue of $685 million to $765 million. While Coinbase has not yet released its Q1 profit figures, MarketBeat analysis estimates them to be around $1.87 billion.

预计Coinbase将于5月初发布其2025年财务。该公司最近的股东信件表明，该公司已在2月11日之前产生了约7.5亿美元的交易收入，并预计订阅收入为6.85亿美元至7.65亿美元。尽管Coinbase尚未发布其第一季度的利润数据，但MarketBeat分析估计它们约为18.7亿美元。

Crypto Market Downturn

加密市场低迷

Most publicly traded crypto companies reported similar results in the first quarter of 2025. Major crypto mining firm Marathon Digital Holdings (NASDAQ:HDDI) started Q1 at nearly $17.50 and closed it at $11.00, a loss of over 37%.

大多数公开交易的加密货币公司在2025年第一季度报告了类似的业绩。主要加密矿业公司马拉松数字控股公司（NASDAQ：HDDI）的股票速度为Q1近17.50美元，并以11.00美元的价格收于，损失了37％以上。

Competing crypto mining firm Riot Platforms (NASDAQ:RIOT) opened Q1 2025 at just under $10.50 and closed it at $7.12, a loss of over 32%. Bitfarms (NYSE:BITF), an energy infrastructure and crypto mining firm, opened the year at $1.56 and closed the first quarter at $0.7882, losing nearly half its value.

竞争性加密矿业公司Riot Platforms（NASDAQ：RIOT）的开业时间为2025年，价格不到10.50美元，并以7.12美元的价格收盘，损失了32％以上。一家能源基础设施和加密矿业公司Bitfarms（NYSE：BITF）以1.56美元的价格开业，并以0.7882美元的价格收于第一季度，损失了近一半的价值。

Datacenter and crypto mining firm Hut 8 (NASDAQ: HUT) started the year at $21.10 and ended the quarter at $11.62, resulting in a loss of nearly 45%. The firm continues painting red candles at the time of writing despite its recent partnership with US President Donald Trump’s sons to launch American Bitcoin, aiming to build the world’s biggest Bitcoin (BTC) mining operation with strategic reserves.

数据中心和加密矿业公司HUT 8（NASDAQ：HUT）的年度为21.10美元，并以11.62美元的价格结束，导致损失近45％。尽管最近与美国总统唐纳德·特朗普（Donald Trump）的儿子合作推出了美国比特币，但该公司仍在写作时继续绘画红蜡烛，旨在通过战略储备来建立世界上最大的比特币（BTC）采矿业务。

The list continues. Datacenter and mining firm Hive Digital Technologies (NASDAQ:HDIV) saw its stock go from $2.97 to $1.45 in Q1, losing more than half its price. Lastly, mining hardware producer Canaan Creative (NASDAQ:CCIV) started the quarter at $2.11 and ended at $0.8778 for a loss of nearly 58.4%.

列表仍在继续。数据中心和采矿公司Hive Digital Technologies（NASDAQ：HDIV）的股票在第一季度的股票从2.97美元上升到1.45美元，损失了一半以上的价格。最后，采矿硬件生产商Canaan Creative（NASDAQ：CCIV）以2.11美元的价格开始，损失近58.4％，为0.8778美元。

Geopolitical Impact

地缘政治影响

The broader stock market, not just the crypto industry, has also taken a significant hit widely attributed to recent geopolitical shifts. United States stock market index S&P 500 opened the quarter at $5,890 and closed at $5,610 — losing over 4.75%.

更广泛的股票市场，不仅是加密货币行业，还归因于最近的地缘政治转变，这一巨大打击。美国股票市场指数标准普尔500号公开赛以5,890美元的价格开盘，收于5,610美元，损失了4.75％以上。

Market participants feel uncertainty as US President Donald Trump continues waging a trade war on multiple fronts. This week, reports suggest that concerns over a global trade war continue to pressure traditional and cryptocurrency markets as investors brace for a potential US tariff announcement on April 2.

当美国总统唐纳德·特朗普继续在多个方面发动贸易战时，市场参与者感到不确定性。本周，报道表明，对全球贸易战的担忧继续向传统和加密货币市场施加压力，因为投资者会在4月2日发出美国关税公告。

Founder of Obchakevich Research, Alex Obchakevich, told Cointelegraph: "Trump’s tariffs are weighing heavily on the market, making it as unpredictable as possible." He pointed out that Strategy (NASDAQ:MAGA) (formerly MicroStrategy) is holding up surprisingly well, with its price losing just under 3.95% as it went from $300.11 down to $288.27 during Q1 2025.

Obchakevich Research的创始人Alex Obchakevich告诉Cointelegraph：“特朗普的关税在市场上的压力很大，使其尽可能无法预测。”他指出，该策略（纳斯达克股票代码：MAGA）（以前是MicroStrategy）的表现非常出色，其价格下跌不到3.95％，因为它从300.11美元下降到第1季度2025年第1季度的288.27美元。