TechFlow News: On February 2, Bloomberg reported a sharp decline in cryptocurrency exchange trading volumes, putting pressure on core revenues. Over the past three months, Coinbase, Gemini, and Bullish saw their stock prices fall approximately 40%–55%, prompting analysts to lower their earnings forecasts. Coinbase’s Q4 trading volume is expected to decline roughly 40% year-on-year to approximately $264 billion, with further weakening observed in January; Gemini’s path to profitability may be delayed from 2027 to 2028; Bullish’s January trading volume declined approximately 28% year-on-year.
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