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Robinhood and Coinbase stock prices plummet, surpassing Bitcoin's decline
Crypto World News reports that on Wednesday, stocks related to cryptocurrencies generally declined, with Robinhood (HOOD) plunging nearly 14% due to its earnings report missing expectations, with first-quarter crypto-related revenue down nearly 47%. This weak signal sparked investor concerns about demand for crypto trading, with Coinbase (COIN) and its parent company Bullish (BLSH) both falling 8%. Meanwhile, Gemini (GEMI) also dropped 6%. Bitcoin miners Riot Platforms (RIOT) and Marathon Digital (MARA) also declined by 6%-7% respectively. Bitcoin’s price slightly decreased by 0.5%, currently at $75,766.86, breaking below $76,000. Additionally, Trump’s rejection of Iran’s proposal led to a 6% rise in oil prices, with West Texas Intermediate crude surpassing $100 per barrel. Market participants will focus on the Federal Reserve meeting results, which are expected to keep interest rates unchanged.