New York, Feb 17, 2026, 08:40 EST — Premarket
- Coinbase shares down about 2% in premarket trading after last week’s sharp swings
- Bitcoin under pressure again as tech-heavy futures point lower
- Investors eye Friday’s PCE inflation report for clues on rates and risk appetite
Coinbase Global (COIN.O) shares fell 2% to $161.00 in premarket trading on Tuesday. (Investing)
The move comes as traders come back from the long U.S. holiday weekend and try to price the same old problem: crypto moves fast, and the stocks tied to it move faster.
Coinbase is one of the cleanest public proxies for U.S. crypto trading. When bitcoin and ether slide, activity can dry up, and fee revenue can follow.
The stock ended Friday at $164.32 after trading between $146.16 and $167.65, with volume of about 32.4 million shares, the company’s stock-quote page showed. (Coinbase)
Risk appetite looked shaky early Tuesday. S&P 500 futures were down 0.5% and Nasdaq futures fell 0.9%, while bitcoin slipped 1.4% to just under $68,000, according to an Associated Press market report. (AP News)
Coinbase reported last week it swung to a quarterly loss as crypto trading slowed during a broader digital-asset selloff. Transaction revenue fell, while subscription and services revenue rose, helped by stablecoin income — revenue tied to tokens designed to hold a steady value, usually pegged to the dollar. (Reuters)
In a shareholder letter dated Feb. 12, Coinbase said it repurchased $1.7 billion of its Class A stock in the fourth quarter and through Feb. 10 and ended 2025 with $11.3 billion in cash and cash equivalents. It also said it had generated about $420 million of transaction revenue through Feb. 10 and forecast first-quarter subscription and services revenue of $550 million to $630 million.
Chief Financial Officer Alesia Haas told analysts the company had “deployed $1.7 billion to repurchase shares,” framing buybacks and bitcoin purchases as tools the company uses when markets swing. (Investing)
Traders have also been watching other crypto-exposed names such as Robinhood and listed bitcoin miners, which often trade in the same direction as big coins when volatility jumps.
Still, the downside case is easy to sketch. If bitcoin keeps sliding and price swings cool off, retail trading can thin out, hitting transaction revenue. Policy risk hangs over the sector, too, and sudden spikes in volume can still stress exchanges even after years of infrastructure work.
Next up is Friday’s Personal Consumption Expenditures price index — the inflation gauge watched closely by the Federal Reserve — due Feb. 20, a Bureau of Economic Analysis schedule shows. (Bureau of Economic Analysis)
