Why Coinbase, Mara Holdings, and Solana Crashed This Week
The crypto market had either a great week or a terrible week depending on how you look at it. From a policy perspective, it looks like the U.S. continues to embrace crypto and that's good news. But that didn't translate to better valuations for cryptocurrencies themselves, which fell double digits almost across the board.No surprise, when cryptocurrencies fall, Coinbase Global (NASDAQ: COIN) is one of the most affected. According to data provided by S&P Global Market Intelligence, shares of Coinbase fell as much as 17.6% this week and are off 16% as of 3 p.m. ET. Bitcoin miner Mara Holdings (NASDAQ: MARA) dropped as much as 22.7% and is now down 19.2% while popular cryptocurrency Solana (CRYPTO: SOL) dropped as much as 16.8% and is now down 8.7% for the week.After making pro-crypto moves at the Securities and Exchange Commission (SEC), it's been reported that President Donald Trump will officially roll back the Biden-era anti-crypto policies referred to by some as "Operation Chokepoint 2.0," which limited what regulated banks could do in the crypto area. Continue reading
The crypto market had either a great week or a terrible week depending on how you look at it. From a policy perspective, it looks like the U.S. continues to embrace crypto and that's good news. But that didn't translate to better valuations for cryptocurrencies themselves, which fell double digits almost across the board.
No surprise, when cryptocurrencies fall, Coinbase Global (NASDAQ: COIN) is one of the most affected. According to data provided by S&P Global Market Intelligence, shares of Coinbase fell as much as 17.6% this week and are off 16% as of 3 p.m. ET. Bitcoin miner Mara Holdings (NASDAQ: MARA) dropped as much as 22.7% and is now down 19.2% while popular cryptocurrency Solana (CRYPTO: SOL) dropped as much as 16.8% and is now down 8.7% for the week.
After making pro-crypto moves at the Securities and Exchange Commission (SEC), it's been reported that President Donald Trump will officially roll back the Biden-era anti-crypto policies referred to by some as "Operation Chokepoint 2.0," which limited what regulated banks could do in the crypto area.
