Crypto-Linked Stocks Fall at U.S. Open as Coinbase Drops 12.46%

At the U.S. market open Friday, crypto-linked shares fell broadly, with Coinbase (COIN) down 12.46% and Strategy (MSTR) and American Bitcoin (ABTC) off more than 11% each. Coinbase recorded the steepest loss among the listed stocks, ahead of Strategy at 11.59% and American Bitcoin at 11.33%.

Circle (CRCL) fell 9.79%, while CEA Industries (BNC) lost 9.61% and Robinhood (HOOD) dropped 8.67%. MARA was down 8.09%; GEMI and Riot Platforms (RIOT) each slid nearly 8%, at 7.87% and 7.86%, respectively. Bullish (BLSH) declined 7.69%, SharpLink (SBET) fell 7.19% and BitMine (BMNR) lost 7.06%. Every one of the 12 listed stocks fell at least 7%.

A similar opening decline on Aug. 26 left Coinbase, Strategy and American Bitcoin down 3% to 4%. All three had losses above 11% on Friday. Those three stocks therefore had steeper losses than in that earlier comparison. The drop extended beyond miners to trading platforms and crypto reserve firms.