Crypto Shares Fall. Coinbase Plunges 11%; Riot Platforms down 9%; BTCS, BitMine down over 8%; SBET, Upexi down 7%; Circle down 4%

TigerAug 1, 2025 8:19 AM

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Crypto shares fell in premarket trading. Coinbase plunged 11%; Riot Platforms down 9%; BTCS, BitMine down over 8%; SharpLink Gaming, Upexi down over 7%; Circle, Bit Digital down over 4%.

Coinbase Global reported a drop in adjusted profit for the second quarter on Thursday, as gains in subscription and services revenue were offset by weaker trading activity amid reduced cryptocurrency volatility.

Retail crypto trading volumes remained sluggish in the second quarter as investor appetite remained muted amid market uncertainty and inflationary pressures, despite a rebound in crypto prices.

A bullish crypto market also prompted many retail investors to hold on to their digital assets in anticipation of higher returns, limiting trading activity. Crypto asset volatility was down 16% on a sequential basis, the company said.

Transaction revenue fell 2% to $764.3 million from a year earlier. However, revenue from the company's subscription and services unit — which includes businesses outside of trading — rose 9.5% to $655.8 million.

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