Coinbase, Bitcoin Giant Strategy Fall as Binance Hack Rocks Crypto Stocks
AI summary
Crypto-linked equities sold off Friday after a multibillion-dollar security breach at Binance coincided with a wider technology selloff tied to AI spending worries. Coinbase fell more than 12% and Strategy dropped 6%, despite both reporting quarterly profits the prior evening. The Binance hack adds a crypto-specific shock on top of macro pressure, weighing on sentiment for bitcoin-exposed stocks.
