Robinhood Has a Crypto Trading Problem. It Might Soon Be Coinbase’s, Too.
Trading platform Robinhood Markets experienced a stark decline in market activity in the last quarter as retail investors grew more cautious—especially when it came to cryptocurrencies. That could signal problems for digital-asset exchange Coinbase Global.
Robinhood (ticker: HOOD) stock tumbled 8% on Friday, with Coinbase (COIN) slipping 0.5%. Both stocks have lost in the range of 50% of their market value so far in 2022 amid a slowdown in trading activity. The S&P 500 index, by comparison, has retreated 11% over the same.
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