Coinbase’s stock price took a hit after the company released its first-quarter 2025 earnings report on May 8, revealing revenue that fell short of analyst expectations. The underwhelming performance reflects a slowdown in retail cryptocurrency trading activity, which analysts attribute to contributing factors such as declining engagement and market perceptions, ultimately leading to a significant dip in Coinbase’s stock value. Coinbase reported $2.03 billion in Q1 revenue, 3.6% lower than projected. Despite a year-over-year growth of 24.2%, analysts are concerned about this trend, particularly the declining retail trading activity. Notably, CEO Brian Armstrong has not yet issued any public statements regarding the earnings miss.