Coinbase and Strategy Sink After Binance Breach
Coinbase and Strategy shares fell sharply after a reported breach at Binance, with both stocks extending opening losses. Their declines outpaced Bitcoin's 4.65% drop and the S&P 500's 1.24% fall over the same window. Traders are reading the selloff as a sign that exchange-security risk can hit crypto-equity names harder than the underlying asset.