Coinbase Dips Ahead of Holiday; Catalyst Could Hit Soon
Coinbase Global shares fell 4.4% Friday to $184.99, ending the week down 5.3% as the SEC delayed a plan to allow trading of tokenized stocks. The drop came despite Wall Street gains, with crypto-linked stocks lagging as bitcoin and ether prices remained volatile. Coinbase recently reported a $394.1 million quarterly loss and announced 700 job cuts. U.S. markets will be closed Monday for Memorial Day.