Coinbase Shares Fall 12.87% as Crypto-Linked Stocks Slide

Crypto-linked stocks fell broadly in Friday trading, with Coinbase shares down 12.87% by 11:29 a.m. ET as six other companies in the group also recorded declines.

Coinbase shares stood at $139.93 in that snapshot. The stock’s loss was 7.75% at the U.S. market open, then widened to 12.87%, an increase of 5.12 percentage points over the morning.

The six other names fell between 6.42% and 8.71%. Circle fell 8.71%, Robinhood declined 8.23%, Strategy lost 6.96% and Galaxy Digital dropped 8.63%. Riot Platforms was down 8.59%, while MARA fell 6.42%.

Coinbase’s drop was steeper than the declines in the other six stocks named, while each peer was down at least 6.42%. The seven securities were all connected to the crypto sector, making this an equity-market snapshot rather than a reading of cryptocurrency prices. Coinbase’s loss was more than five percentage points wider than it had been at the U.S. open.