Crypto stocks getting hit hard on the US open today.
Per CoinDesk, Coinbase is down around 12% after weak Q3 numbers and Strategy around 11% after it disclosed its CFO is leaving. Circle and Galaxy red too, Nasdaq itself is off more than 2% with Intel dragging tech.
Yahoo Finance says Coinbase Q3 revenue was $1.22B, down 35% from last year, with spot volume lower. Add the Binance incident on top and you get a sector wide selloff.
On Binance the stock tokens show it too, $COINB is about 12% down near 140 and $MSTRB wicked to 124.6 right at the open before bouncing to 132. $BTC still under 78k.
For me it is mostly the market pricing in slower trading activity plus a risk off mood. Worth watching if US tech keeps bleeding into the weekend.
Per CoinDesk, Coinbase is down around 12% after weak Q3 numbers and Strategy around 11% after it disclosed its CFO is leaving. Circle and Galaxy red too, Nasdaq itself is off more than 2% with Intel dragging tech.
Yahoo Finance says Coinbase Q3 revenue was $1.22B, down 35% from last year, with spot volume lower. Add the Binance incident on top and you get a sector wide selloff.
On Binance the stock tokens show it too, $COINB is about 12% down near 140 and $MSTRB wicked to 124.6 right at the open before bouncing to 132. $BTC still under 78k.
For me it is mostly the market pricing in slower trading activity plus a risk off mood. Worth watching if US tech keeps bleeding into the weekend.
