Coinbase Stock Drops 7% Amid Cyberattack and SEC Probe

The world’s largest publicly listed crypto exchange, Coinbase, has been rocked by a damaging cyberattack and continued investigation from its SEC lawsuit just days before its S&P 500 debut. The back-to-back setbacks have taken a massive toll on the Coinbase stock price, as it dropped over 7% in one trading session on Thursday. Coinbase Stock Takes Massive Hit The one-two punch of the Coinbase cyber attack and the SEC investigation sent COIN shares tumbling, even as the exchange is poised to join the S&P 500 index next week. This milestone was expected to bolster credibility, but recent events have overshadowed the narrative. On Wednesday, the Coinbase stock prices lost over 9% within 90 minutes of the opening bell. Through the session, they gradually recovered, only to drop again and close at $244.4, almost $19 or 7.2% down from the previous close. Cybersecurity analysts warn that crypto platforms, especially U.S. leaders… Read More at Coingape.com

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