MicroStrategy (MSTR) and Coinbase (COIN) stocks led a significant selloff in the crypto stock market as enthusiasm over a US-China trade deal waned. MSTR shares dropped 11.9%, while COIN fell 5.3% in a single day. The selloff follows a tentative trade agreement between the US and China, which initially boosted markets but has since lost momentum. The trade deal, announced by US President Trump, involves easing rare earth restrictions by China and relaxing US tech export limits. However, the agreement is pending final approval and lacks clarity on implementation specifics. Despite the initial market optimism, crypto stocks have faced pressure, with MSTR's decline linked to concerns over its Bitcoin accumulation strategy. Coinbase, however, remains somewhat insulated due to its partnership with Circle. The revenue-sharing agreement with Circle over USDC minting provides a steady income stream for Coinbase, potentially cushioning it against broader market volatility.