Shares in companies exposed to digital assets have taken just as much, if not more, of a beating than
Bitcoin
amid a U.S. regulatory crackdown on crypto over the past week.
The Securities and Exchange Commission charged Binance and
Coinbase Global
(ticker: COIN) on Monday and Tuesday last week, respectively, alleging that the crypto exchanges, among other things, have sold unregistered securities.
Bitcoin was trading above $26,000 on Monday, down 6% from before the SEC charges but still in a range from $26,000 to $27,000 that has dominated for more than a month.
Coinbase stock has dropped more than 17% from before the first SEC charges to last Friday’s close. Shares in the crypto broker were down a further 2.5% in premarket trading Monday.
MicroStrategy
(MSTR), a business intelligence company with vast holdings of Bitcoin in its corporate treasury, has seen its stock tumble 7% over the same period and was down a further 1.5% in the the premarket session
Marathon Digital
(MARA), a Bitcoin miner, has shed 6% over the same period. It was down 1.5% early Monday.
Write to Jack Denton at [email protected]
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