Coinbase stock slides as COIN gives back a rally after 24/5 stock-trading push
Coinbase shares fell 4.6% to $172.70 Friday after U.S. producer prices rose more than expected, shaking hopes for rate cuts and hitting risk assets. Coinbase this week launched commission-free stock and ETF trading for U.S. users, aiming to expand beyond crypto. Bitcoin dropped 3.5% to about $65,300. The new offering puts Coinbase in closer competition with Robinhood and SoFi.