COIN is trading 7.5% down at $196.07 as risk-off sentiment hits tech and crypto-related names, reversing yesterday’s sharp 5.1% rally.
- Bitcoin and Ethereum are both down approximately 2–3% since the last close, pressuring trading and fee revenue expectations for Coinbase.
- Major U.S. indices are also trading lower, contributing to the broader downward pressure on risk assets.
- A new ethics filing revealed Donald Trump and his family purchased COIN in Q1, though the news is not seen as a primary driver for today's price action.