Why Bitcoin- And Ethereum-Related Stock Coinbase Is Falling Again

Why Bitcoin- And Ethereum-Related Stock Coinbase Is Falling Again

Coinbase Global Inc COIN shares are trading lower by 1.70% to $48.00 Thursday morning. The stock is falling amid ongoing, marked volatility in the broader crypto sector after peer cryptocurrency exchange FTX filed for Chapter 11 bankruptcy proceedings.

What's Going On With Crypto?

Our Benzinga team on Wednesday reported further on the collapse of once-billionaire whiz kid Sam Bankman-Fried's FTX crypto exchange platform.

Many are still wondering: Is Coinbase safe in the wake of the FTX collapse?

"[Coinbase] is not in trouble," Armstrong told investors and listeners via Twitter spaces Wednesday. "We’re very well capitalized — we’ve got $5 billion of cash on the balance sheet, [and] we’re holding those assets in dollars so we’re not having exposure to the broader crypto volatility."...Read More

According to data from Benzinga Pro, COIN has a 52-week high of $384.49 and a 52-week low of $40.83.

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