Bitcoin Slips, Coinbase Stock Drops as Market’s Friday Ills Hit Crypto
A complex mixture of news and data is hitting stocks to close out the week. One side effect: a drag on crypto-related investments, which not long ago were riding high on big-picture optimism.
Shares of Coinbase Global (COIN), which late Thursday reported quarterly results that missed revenue expectations (though also included signs that the current quarter’s trading volume was looking better than the last), were recently down 17%, among the worst performers on the S&P 500. Robinhood Markets (HOOD), which turned in strong quarterly numbers earlier this week, was almost 2% lower Friday afternoon.
Bitcoin, which touched $120,000 not too long ago, is now below $115,000. Leading bitcoin treasury Strategy (MSTR), formerly known as…
