"Coinbase and Crypto Market React Sharply to Trump’s Tariff Announcement"

In a significant market reaction to political events, the cryptocurrency sector faced a turbulent period following former President Trump’s tariff announcement. Here’s a detailed look at the impact on major players like Coinbase.

Crypto stocks tumble, Bitcoin ETFs bleed following Trump’s tariff announcement

The crypto market experienced a sharp downturn on 3rd April following former President Donald Trump’s announcement of new tariffs, which heightened global trade tensions and rattled investor confidence. Major U.S. crypto stocks were among the hardest hit, with Coinbase Global (COIN.O) falling by 7.7% and MicroStrategy (MSTR.O) dropping by 5.6%. The mining sector also felt the impact, with MARA Holdings (MARA.O), Riot Platforms (RIOT.O), and Bitfarms each seeing declines. Despite the downturn, BlackRock’s IBIT saw net inflows, highlighting crypto resilience. By press time, the downward trend continued.

Coinbase to Introduce 24/7 Futures Trading for Bitcoin and Ethereum on May 9, 2025

Coinbase Derivatives has announced the launch of 24/7 Bitcoin and Ethereum futures trading for US traders on May 9, 2025. The launch will allow US-based crypto derivatives investors to trade Bitcoin and Ethereum futures contracts round-the-clock. The contracts will be backed by Coinbase Financial Markets and cleared through Nodal Clear, ensuring a clear institutional framework. This decision comes just 24 hours after the US congress advanced a bill for crypto stablecoin regulations. Currently, derivatives account for over 75% of total crypto trading volume globally.