The Yieldmax Coin Option Income Strategy ETF (CONY) closed down 1.75% at $13.51 on February 3rd, as the underlying asset, Coinbase Global, Inc. (COIN), experienced a 2.09% decline to $285.25. The drop in Coinbase's stock price is largely attributed to a broader sell-off in the cryptocurrency market, triggered by President Donald Trump's announcement of new tariffs on imports from China, Canada, and Mexico. These tariffs, which include a 25% levy on imports from Canada and Mexico and a 10% levy on goods from China, have sparked fears of a global economic slowdown, leading investors to pull back from riskier assets, including cryptocurrencies. This has resulted in significant declines in major digital currencies like Bitcoin and Ethereum, further impacting crypto-related stocks such as Coinbase. The market's reaction reflects concerns about potential inflation and economic tension, which could further pressure the cryptocurrency sector.