Coinbase, the crypto exchange, fell more than 5% on Wednesday following a drop in cryptocurrency prices, which is taking crypto-linked public companies down with them.

What’s the big deal? Whether you follow crypto or not, the asset is moving markets. With many publicly traded companies’ fates linked to cryptos, a fall in the asset is starting to have a greater impact on the market…

Bitcoin, the cryptocurrency with the highest market cap, dropped in the past week from:

• Elon Musk criticizing Bitcoin’s energy use and signaling the possibility that Tesla might have sold its Bitcoin holdings.
• In a report by JPMorgan, institutional investors were selling Bitcoin in favor of inflation-hedge, gold.
• To cap it off: On Tuesday, China warned financial institutions and payment companies from offering cryptocurrencies.

But long-time investors of crypto are used to these big swings. In the past 5 years, Bitcoin fell more than 20% within a 7-day period, 14 different times.

For investors: Coinbase has now run into problems with 3 of its biggest risks since going public — valuation, regulations and a reliance on crypto.

• Mark Tepper of Strategic Wealth Partners (via CNBC) related Coinbase to stockbrokers, who went extinct — replaced by investment advisors.

Off-topic: It’s reported that Robinhood, who’s also benefited from the rise of cryptocurrency, could be releasing its IPO filing next week — a chance for us to dig into its numbers.