Coinbase Stock Drops 10% Following SEC’s Suit Against Binance

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The stock fell more than 5% right after the filing was released and then continued to fall. Meanwhile, the price of bitcoin (BTC) fell more than 5% to below $26,000. Shares of MicroStrategy (MSTR), which holds a vast amount of bitcoin on its balance sheet, fell almost 9%, while the shares of several bitcoin mining stocks dropped as well. Riot Blockchain (RIOT) and Marathon Digital (MARA) both fell more than 9%, while Bitfarms (BITF) dropped more than 6%.

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