Coinbase's stock has hit its lowest price since the company went public last year, with COIN falling 87.04% to $35.00, compared to $268.15 on December 21, 2021, according to Yahoo! Finance.

While tech stocks have taken an overall beating in 2022, Coinbase is unusual as a publicly traded company whose primary business is cryptocurrency—a select cohort that includes Block Inc. (formerly Square) and crypto mining companies Core Scientific and Riot.