Shares of US crypto companies fell sharply amid a broader risk asset sell-off caused by disappointing economic data and renewed tariff threats. Coinbase, Riot Platforms, and CleanSpark saw declines between 7% and 16%. Coinbase's revenue of $1.5 billion for Q2 was overshadowed by falling transaction volumes, resulting in a net income of $33 million when excluding investment gains. Riot Platforms did report a significant revenue increase but still echoed market trends with its stock loss. The market suffered further as Bitcoin's price retraced sharply from earlier highs, amplifying the losses experienced by crypto stocks. Investor sentiment shifted negatively following a lower-than-expected US nonfarm payrolls report, indicating a slowdown in job growth. This ignited speculation for aggressive interest rate cuts by the Federal Reserve, which remains complicated due to persistent inflation. Meanwhile, renewed tariff threats by US President Donald Trump added to investor anxiety, leading to fears of a potential contraction in the labor market in the coming months.

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