© Reuters. Why Bitcoin-, Ethereum- And Litecoin-Related Stocks Coinbase, Marathon Digital, Riot Blockchain And Robinhood Markets Are Falling
Coinbase (NASDAQ:) Global Inc (NASDAQ: COIN), Marathon Digital Holdings Inc (NASDAQ: MARA), Riot Blockchain Inc (NASDAQ: RIOT) and Robinhood Markets Inc (NASDAQ: NASDAQ:) are all trading lower Tuesday morning. Crypto-related stocks are falling sharply amid marked, ongoing volatility in the broader crypto space amid reports of a possible bankruptcy of popular cryptocurrency exchange FTX.
Volatility in crypto ensued when Changpeng Zhao, the founder and CEO of Binance, the world’s largest cryptocurrency exchange, announced that his trading platform is about to liquidate its entire FTT holdings.
With the crypto market reeling under a bout of intense sell pressure, Benzinga spoke to experts about their views on the token having a volume of 1.4 billion —up 88% compared to the previous day.
Alpha Impact CEO Hayden Hughes says there are massive flows into and out of FTX, which is moving its own funds into the exchange, and many small and large withdrawals moving out…Read More
According to data from Benzinga Pro:
COIN is trading lower by 10.65% to $50.90
MARA is trading lower by 8.96% to $9.56
RIOT is trading lower by 11.91% to $5.06
HOOD is trading lower by 10.72% to $10.74
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