New York, Feb 5, 2026, 5:33 PM EST — After-hours
Shares of Coinbase Global, Inc. (COIN.O) dropped $22.53, roughly 13.4%, to $146.12 in after-hours trading Thursday, following another slide in cryptocurrencies. The stock fluctuated between $143.50 and $166.81 throughout the session, with volume hitting around 29 million shares.
Coinbase’s decline comes amid a broader risk-off wave that’s hammered crypto-related stocks as well as battered tech shares. Bitcoin plunged roughly 14% on the day, dragging sentiment lower and pushing traders to focus intensely on liquidity and macroeconomic news. (Reuters)
Bitcoin tumbled to $63,295.74 on Thursday, dropping roughly 12.6%, marking its steepest one-day decline since November 2022, Reuters reports. Nic Puckrin, investment analyst and Coin Bureau co-founder, described the scene as “full capitulation mode” for the crypto market. (Reuters)
The selloff has heightened concerns over forced liquidations—where leveraged positions are automatically closed—and driven investors toward safer bets, the Financial Times reported. Gains from President Donald Trump’s re-election have now been wiped out, with bitcoin-focused Strategy and other crypto-linked stocks feeling the strain. (Financial Times)
The selloff has extended to funds that once drew traditional investors into crypto. Spot bitcoin ETFs—those exchange-traded funds offering bitcoin exposure via the stock market—experienced $5.7 billion in outflows from November through January, according to the Associated Press, amid renewed concerns over regulation and rising risk aversion. (AP News)
Coinbase operates one of the largest crypto trading platforms in the U.S., with revenue closely tied to customer trading volume and market sentiment. Sharp price swings can boost activity, but extended selloffs usually dampen retail enthusiasm and curb risk-taking. (Reuters)
The chill isn’t just hitting U.S. exchanges. Gemini Space Station, the Winklevoss twins’ rival platform, announced plans to slash up to 200 jobs and shut down operations in the UK, EU, and Australia as it trims its global reach, Reuters reported. Truist analyst Matthew Coad said management “now must shift its strategy … to staying afloat during a crypto downturn.” (Reuters)
Coinbase is gearing up to release its fourth-quarter and full-year 2025 results on Thursday, Feb. 12, after the market closes. The company will host a webcast following the announcement. (Coinbase Investor Relations)
The tape can flip quickly. Michael Novogratz of Galaxy Digital told Investopedia the sell-off felt like “massive profit-taking.” Jim Bianco from Bianco Research added that the bullish stories that pushed crypto up aren’t cutting it anymore. (Investopedia)
Traders are eyeing if bitcoin can hold steady around recent lows and if fund outflows ease before Coinbase’s Feb. 12 earnings report. That release could shift the outlook for trading volumes and fee income in Q1. (Businesswire)
