
Coinbase Global (COIN) started 2025 with a storm overhead. The leading U.S. crypto exchange, long the gateway for everyday and institutional investors into Bitcoin (BTCUSD), Ethereum (ETHUSD), and more, is down 20% in the year to date. Sluggish trading volumes, regulatory overhangs, and macroeconomic uncertainty have all taken a toll.
But now, things could be perking up.