“Coinbase shares slide 11% on hot inflation report”
October 13, 2022
“Shares of cryptocurrency exchange Coinbase dove more than 11% on Thursday after the Consumer Price Index showed inflation continued to increase in September beyond Wall Street’s expectations.
Bitcoin and other stocks tied to the success of crypto felt the pain, too. Riot Blockchain, Marathon Digital and Microstrategy were all lower by around 5%, while Block (formerly Square) was down about 7%.
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, down around 1.5%, and the S&P 500, down about 0.8%…”
https://www.cnbc.com/2022/10/13/coinbase-and-other-crypto-stocks-slip-on-hot-inflation-data.html