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Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, on Wednesday, April 14, 2021.
Michael Nagle | Bloomberg | Getty Images
Shares of cryptocurrency exchange Coinbase fell 2% on Thursday after the Consumer Price Index showed inflation continued to increase in September beyond Wall Street’s expectations. The stock had fallen as much as 12.7% earlier in the day.
Bitcoin and other stocks tied to the success of crypto felt the pain, too. Riot Blockchain, Marathon Digital Microstrategy and Block (formerly Square) all saw shares drop Thursday morning, though they rebounded later, with most even turning slightly positive.
The broader markets were also trading lower on the fresh inflation read from the Bureau of Labor Statistics. But crypto stocks saw steeper falls than major indices like the Nasdaq Composite and S&P 500, which also fell...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...