Shares of cryptocurrency exchanges continued to plunge as investors reacted to the $6.3 billion Binance hack and falling crypto prices. Coinbase shares hit $136 on Friday, their lowest level since February 2024 and 70% below their record high. Binance said a compromised laptop gave hackers initial access to the exchange’s systems. The breach exposed weaknesses that could threaten other crypto companies. Coinbase and Robinhood also reported declining revenue, attributing it to the crypto winter.
