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COIN Tests $139.33 Support After the Binance Hack and a Weak Trading Quarter

COIN Tests $139.33 Support After the Binance Hack and a Weak Trading Quarter

TradingKey – Coinbase Global (NASDAQ: COIN) fell 10.62% to $143.54 on Friday, October 30, just above its lowest close of the past year, $141.09 on February 12. It was the first session after two blows on Thursday, October 29: a record $6.36 billion hack at Binance, the world’s largest crypto exchange, and Coinbase’s own third-quarter results, which showed transaction revenue down 44%.

The weekend brought some relief. Binance said it had replenished 95% of the losses and began reopening withdrawals on November 1. But the stock had already fallen about 24% in October, and its core trading business is shrinking.

What Happened at Binance

On October 29, attackers moved about $6.36 billion out of Binance wallets across ten blockchains, most of…

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