Why Coinbase Global Stock Fell 5.4% Today
Shares of leading cryptocurrency trading company Coinbase Global (NASDAQ: COIN) were down 5.4% today as of 1:30 p.m. ET. Cryptocurrencies in general fell in value over the last 24-hour period, dragging Coinbase along. Bitcoin (CRYPTO: BTC) fell 3.2%, and Ethereum (CRYPTO: ETH) was down 4.2% in broad weakness across the crypto-verse. Investor angst has been building this week as Russia's attack on Ukraine intensifies.
Image source: Getty Images.
In related news, some officials in Ukraine are calling on Coinbase and other crypto exchanges to ban all transactions for Russians. The company is following international sanctions against Russia, but says it will not levy a blanket ban on crypto trading for all Russian citizens.
Source Fool.com
