Coinbase (COIN) Stock Plunges Amid Crypto Crash

Benzinga

Coinbase slid as a sharp crypto selloff dragged Bitcoin under $92,000 and Ethereum below $3,000, triggering mass liquidations and fears of a deeper crypto winter that could hit trading revenue. The downturn overshadowed Coinbase’s recent earnings beat, JPM Coin partnership, and new token-access platform.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Coinbase stock fell Monday as a broad crypto sell-off erased key price levels

00:06and intensified Wall Street's concerns ahead of new economic data and NVIDIA's earnings.

00:12Bitcoin dropped below $92,000 and hit a six-month low while Ethereum fell under $3,000,

00:18leading declines across major tokens, according to Benzinga.

00:22The drop reportedly liquidated more than 140,900 traders

00:26and raised fears of a deeper crypto winter that could cut into Coinbase's transaction fee revenue.

00:31The sell-off overshadowed Coinbase's recent third-quarter earnings beat,

00:34its partnership involving JPMorgan Coin, and the launch of a new pre-listing token access platform.

00:41For all things money, visit Benzinga.com.

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