On Friday, shares of US cryptocurrency firms experienced significant declines, with Coinbase, Riot Platforms, and CleanSpark dropping between 7% and 16%. This downturn was part of a broader market sell-off, as the Dow Jones fell over 600 points and the S&P 500 dropped 1.6%. Coinbase's losses were exacerbated by disappointing quarterly results, reporting $1.5 billion in revenue but a decline in transaction volumes. Riot Platforms, despite doubling its revenue to $153 million, also saw its stock fall. CleanSpark's decline was attributed to overall market trends rather than company-specific issues. The drop in crypto stocks coincided with Bitcoin's fall below $115,000, reflecting their leveraged nature. Investor sentiment soured following a weak US nonfarm payrolls report, which showed only 73,000 jobs created, far below expectations. This has led to speculation about potential rate cuts by the Federal Reserve, although persistent inflation remains a concern. Additionally, renewed tariff threats from the Trump administration have added to market uncertainty. Read more AI-generated news on: https://app.chaingpt.org/news

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