Coinbase, Bitcoin Mining Stocks Fall to Lowest Prices in Months as Tariffs Rock Markets

Vice President JD Vance is scheduled to headline Bitcoin 2025, following President Trump's appearance at Bitcoin 2024. Vance, who previously disclosed owning Bitcoin, will be the first vice president to speak at a crypto event, showcasing public support for the cryptocurrency industry.

Meta is considering re-entering the stablecoin market, prompting U.S. Senator Elizabeth Warren to advocate for legislation preventing tech giants from issuing their own money. The GENIUS Act, aimed at regulating stablecoins, faces revisions following opposition from Democrats in the Senate.

Coinbase's Q1 earnings showed a 10% decrease in total revenue, with trading revenue dropping 19% but subscription and services revenue increasing by 9%. The acquisition of Deribit is expected to give Coinbase a strong foothold in the derivatives space.

Coinbase has launched 24/7 Bitcoin and Ethereum futures trading for U.S. traders, responding to high demand from crypto-native traders. The service allows clients to manage risk by reacting to price movements and market events in real time, including weekends.

Solana-based meme tokens like Moo Deng (MOODENG) and Peanut the Squirrel (PNUT) surged in value, with PNUT up 60% and MOODENG up 180% in 24 hours. Other meme coins like Fwog (FWOG) and Unicorn Fart Dust (UFD) also saw significant gains.

Coinbase's revenue and net income dropped in the first quarter, with a 10% decrease in top-line revenue and a 94% fall in net income compared to the same period last year. Despite this, XRP performed well on the exchange, surpassing Ethereum and Solana in transaction revenue.

Square Enix is expanding its blockchain game Symbiogenesis to Sony’s Ethereum layer-2 network, Soneium, connecting it with two other games for players to earn NFT collectibles. The move comes as Symbiogenesis wraps up its final season on Polygon.

The Official Diddy Solana meme coin, promoted by Sean “Diddy” Combs X account, surged to a $181 million market cap before plummeting 79.5% to $37 million within hours. Legal experts warn that launching a meme coin during a federal investigation could have serious consequences.

The Bank for International Settlements (BIS) report reveals that Bitcoin and other cryptocurrencies are increasingly utilized in countries with high inflation, expensive money transfers, or strict capital controls. People rely on crypto for secure, cost-effective cross-border transactions when traditional financial systems fail.

Doodles, under new CEO Scott Martin, launched its ecosystem token DOOD on Solana with an airdrop for NFT holders. The project also introduced DreamNet, a decentralized storytelling platform powered by AI, allowing creators to earn DOOD rewards.