Why Coinbase and Other Crypto Stocks Took a Nosedive Today

Nicholas Rossolillo, The Motley Fool

Fri, Jan 21, 2022, 4:09 PM2 min read

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Shares of Coinbase Global (NASDAQ: COIN) were getting demolished today. The stock was down nearly 12% as of 3:45 p.m. ET on Friday, adding to an absolutely brutal week for it and other companies tied to the crypto market. Along with the crypto exchange, crypto bank Silvergate Capital's (NYSE: SI) shares were also in retreat today (down 12%), as were stocks of top Bitcoin (CRYPTO: BTC) holders like MicroStrategy (NASDAQ: MSTR) (down nearly 16%) and Bitcoin fund Grayscale Bitcoin Trust (OTC: GBTC) (down almost 13%).

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Why Coinbase and Other Crypto Stocks Took a Nosedive Today

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