Coinbase (COIN) Stock: Crypto Exchange Plunges as Bitcoin Crashes Below $90,000

TLDR

• Coinbase stock dropped 7.95% on Monday as Bitcoin fell below $92,000 and Ethereum lost the $3,000 mark in a broader crypto market crash
• The crypto sell-off liquidated over 140,900 traders and triggered fears of a prolonged crypto winter that could hurt Coinbase’s transaction-fee revenue
• Insiders have sold 245 times in the past six months with zero purchases, including CEO Brian Armstrong selling 1.3 million shares for $478 million
• Institutional investors showed mixed activity with 857 adding positions and 513 reducing holdings in their most recent quarter
• Despite the decline, Coinbase maintains a strong growth score of 94.98 according to Benzinga Edge Rankings

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Coinbase shares took a beating on Monday, falling as much as 9% as the crypto market experienced a sharp downturn. The stock closed down 7.95% at $261.43.

Coinbase Global, Inc., COIN

Bitcoin dropped below the critical $92,000 level, hitting its lowest point in over six months. Ethereum also slipped under $3,000, while other major cryptocurrencies like XRP and Dogecoin followed suit.

The crypto crash directly impacts Coinbase because the company’s revenue depends heavily on crypto asset prices and trading volume. When prices fall and trading slows, Coinbase’s transaction fees take a hit.

The sell-off was severe enough to liquidate over 140,900 traders. This kind of event tends to shake investor confidence and raise concerns about an extended crypto winter.

The decline comes despite some positive recent developments for the company. Coinbase posted a strong third-quarter earnings beat with its “Everything Exchange” strategy. The company also announced a new partnership to use its blockchain for JPM Coin and launched a pre-listing token access platform.

Insider Activity Raises Eyebrows

The insider trading data tells an interesting story. Over the past six months, Coinbase insiders have executed 245 transactions. All 245 were sales with zero purchases.

CEO Brian Armstrong led the selling activity, offloading 1.3 million shares for an estimated $478.4 million. Co-founder Frederick Ehrsam sold 365,779 shares worth about $113 million.

President and COO Emilie Choi sold 100,000 shares for roughly $31 million. Chief Legal Officer Paul Grewal dumped 70,322 shares worth $21.2 million.

Institutional Moves Show Split Decision

Institutional investors showed mixed sentiment in recent quarters. A total of 857 institutions added Coinbase shares to their portfolios while 513 reduced their positions.

Clear Street LLC made the largest addition, increasing its position by 708.5% with 2.3 million shares worth an estimated $807 million in Q2 2025. Vanguard Group added 2 million shares in Q3 2025, an 8.3% increase worth $677.6 million.

On the selling side, Clear Street Derivatives exited its entire 2.3 million share position in Q2 2025, worth about $806.6 million. A16Z Perennial Management also completely removed its 1.5 million share stake in Q3 2025, valued at $516.5 million.

BlackRock increased its holdings by 6.8% with over 1 million additional shares worth $347.7 million. Meanwhile, Jane Street Group nearly eliminated its position, selling 872,494 shares representing a 98.2% reduction valued at $294.5 million.

UBS Asset Management Americas took the opposite approach, boosting its position by 69.2% with nearly 872,000 shares worth $294.3 million. These institutional moves reflect the ongoing debate about Coinbase’s future prospects in a volatile crypto market.

The company’s Benzinga Edge Rankings show a growth score of 94.98, suggesting strong fundamentals despite Monday’s sharp decline.

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