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Crypto

US Crypto-Related Stocks Plummet After Coinbase's Earnings Release

Guavy AI Editorial Team
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Crypto-related stocks took a hit in the US market on Friday.

According to Zhitong Finance, Coinbase (COIN.US) led the decline with a staggering 14% drop following its earnings release.

The company's total revenue for the second quarter fell to $1.22 billion, while it recorded a GAAP net loss of $359 million, marking its second consecutive quarter of losses.

Others in the space fared no better, with Strategy (MSTR.US) falling over 8%, Bitmine Immersion Technologies (BMNR.US) dropping more than 8%, and Circle (CRCL.US) sliding over 7%.

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