Cryptocurrency stocks like Circle (NYSE: CRCL) and Coinbase (NASDAQ: COIN) have experienced strong selling pressure ahead of Jerome Powell's speech in Jackson Hole on Friday, August 22. Over the past week, both stocks have fallen between 7% and 12% as macroeconomic uncertainty rises and hopes for Fed rate cuts during the September FOMC meeting diminish. Wall Street's enthusiasm for cryptocurrency companies seems to be waning lately.
