Coinbase, Circle and Robinhood shares fall after first Fed hike under Warsh
- —The Fed raised rates by 25 bps to 3.75–4.00%, a unanimous decision (12-0)
- —Coinbase closed at $164.51 (-4.42%), Circle at $80.45 (-6.78%), Robinhood at $104.42 (-5.46%)
- —Strategy (MSTR) fell 2.64% to $126.18, IBIT only 0.16% to $43.04
- —Bitcoin holds near $76,385, Ethereum near $2,437.79 (+1.53%)
Why it matters: The gap between bitcoin and crypto stocks shows that Fed tightening hits operating companies harder than the asset itself.
Source: The Crypto Times