Crypto-related stocks, including Coinbase, fell as expectations for an early rate cut faded after stronger-than-expected growth data. As of 1:08 PM on the 23rd local time, Coinbase had fallen 3.44% to $239.37. Robinhood was down 2.31% at $119.55, while Mara Holdings and STRAT declined about 3.92% and 4.30% to roughly $9.73 and $157.26. The 4.3% third-quarter GDP growth beat expectations and sparked speculation that the Fed would not rush to cut rates in early 2026.
As of 1:08 PM ET, Coinbase traded down 3.44% to $239.37, with other crypto-related names under pressure. Robinhood (HOOD) fell 2.31% to $119.55, while Mara Holdings (MARA) and STRAT declined about 3.92% and 4.30% to roughly $9.73 and $157.26 respectively. The cluster of names moved lower in tandem with the broader reaction to macro data.
A stronger-than-expected US GDP reading—4.3% for the third quarter—surpassed estimates and sparked a reassessment of the timing for rate cuts. Investors shifted to a more cautious stance, tempering hopes for an early easing by the Federal Reserve in 2026 and weighing on sentiment across crypto equities. Longer-term tightening concerns kept Bitcoin prices subdued, and the mood for related stocks deteriorated further. Stocks that opened lower on the GDP surprise failed to sustain a rebound, trading near session lows through the afternoon as traders remained reluctant to chase upside momentum.
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