Why Crypto-Related Stocks Are Trading Lower Today

Shares of several crypto-related companies are trading lower after the China Central Bank summoned some banks and payment institutions on crypto speculations and urged banks and payment companies to promptly cut payment channels for cryptocurrency trading.

China Central Bank also said banks and payment firms must not provide services including opening accounts, registration, transaction, clearing, and settlement for cryptocurrency-related speculations.

Marathon Digital Holdings, Inc. MARA focuses on mining digital assets. The stock was trading about 6.6% lower at $27 per share on Monday. The stock has a 52-week high of $57.75 and a 52-week low of $0.85.

Riot Blockchain, Inc. RIOT is focused on building, supporting, and operating blockchain technologies. The stock was trading about 6.7% lower at $30.03 per share. The stock has a 52-week high of $79.50 and a 52-week low of $2.04.

Coinbase Global, Inc. COIN is a provider of end-to-end financial infrastructure and technology for the crypto-economy. The stock was trading about 2.6% lower at $223.25 per share. The stock has a 52-week high of $429.54 and a 52-week low of $208.