The crypto crash has wiped out over 40% of Strategy and Coinbase’s stock price as the industry has taken a hammering — and they are not alone.
The plunges come as the total crypto market’s value has tumbled 28% from its $3.9 trillion December all-time high to $2.8 trillion today.
President Donald Trump’s election win fuelled digital assets’ surge at the end of 2025 as traders counted on his promises to relax crypto rules to trigger a huge bull run.
Crypto stocks rose in tandem, but those gains have been erased in the wipeout this week.
“The Trump pump has been vaporised as cryptocurrency markets enter extreme fear mode,” Petr Kozyakov, co-founder and CEO of Mercuryo, told DL News.
Here’s how five of the leading crypto stocks have performed.
Strategy
Michael Saylor’s Bitcoin-powered rebrand hasn’t shielded his company from the market rout.
Shares of Strategy, nee MicroStrategy, have plunged 57% from its all-time high of $543 in November, now trading around $233 in premarket.
With its software business in decline, Strategy has fully embraced its new identity as a Bitcoin holding vehicle, accumulating almost 500,000 Bitcoin — worth $40 billion in today’s prices.
Saylor is undeterred by the sell-off and doubled down on his Bitcoin maximalism today, tweeting, “Sell a kidney if you must, but keep the Bitcoin.”
Coinbase
Coinbase stock is down over 40% since its December high of nearly $350.
It had surged to the high, fuelled by optimism around Trump’s election victory.
That momentum was still alive earlier this month when CEO Brian Armstrong declared the “dawn of a new era for crypto” as the exchange reported a 130% quarterly revenue spike to $2.2 billion.
Robinhood
Trading app Robinhood’s stock has fallen over 27% from its $66 high two weeks ago.
The fintech firm’s crypto unit has been a massive revenue driver for Robinhood.
In the fourth quarter, crypto trades accounted for half its $672 million in transaction-based revenue, surging 700% year-over-year.
That pushed Robinhood’s total 2024 revenue up 58% to $2.9 billion, with net income hitting $1.4 billion.
Earlier this week, investment bank Morgan Stanley predicted that the current market rout will enable Robinhood to take crypto market share from its rivals and pump the price as high as $120 by next February.
Block
X co-founder Jack Dorsey’s payments company Block has fallen 35% since its December high and now trades at $64.28.
Crypto has been a core part of the company for years. It has offered Bitcoin trading since 2018 and has long designed Bitcoin mining equipment.
Riot
Riot Platforms, one of the largest publicly traded Bitcoin mining firms, has struggled to gain momentum, with shares now trading at $8.50 in premarket — wiping out all gains since October 2024.
Despite brief spikes, the stock has only touched a high of $17 in the past year, far below its 2021 bull run peak of over $70.
Crypto market movers
- Bitcoin has lost 5.7% over the past 24 hours and is trading at $81,150.
- Ethereum is down 8.7% in the same period, trading for $2,140.
What we’re reading
- MetaMask will let users hold Bitcoin and Solana in wallet revamp ― DL News
- How to find winners (as markets tank) ― Milk Road
- How the Bybit Hack Reveals an Industry Still Striving for Transparency ― Unchained
- These 5 charts will crush your fears ― Milk Road
- SEC dismisses lawsuit against MetaMask developer Consensys ― DL News
Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at [email protected].
