Coinbase Shares Drop as Markets React to $6.3B Binance Hack

Crypto stocks slid sharply on Friday as investors digested both company earnings and fresh shockwaves from the Binance breach. Coinbase shares fell more than 13% a day after the exchange reported a decline in third-quarter revenue, while other major crypto-linked equities also posted steep losses, with stablecoin issuer Circle down more than 9% and Bitcoin treasury firm Strategy dropping about 8%, according to Yahoo Finance data. The broad selloff followed Thursday’s disclosure that Binance confirmed a $6.3 billion hack—described as the largest cryptocurrency theft on record—highlighting renewed counterparty risk concerns across the sector and adding pressure to equities tied to…

Source: Crypto Breaking News