Binance Hack: Coinbase, Strategy and Robinhood Shares Fall as Bitcoin Slips

TLDR Crypto stocks fell on Oct. 30 after a $6.3 billion security breach at Binance, with Coinbase down as much as 12.54%. Binance reserved more than $6.34 billion of company funds and says about $3 billion of the stolen assets are frozen. Analysts at Cantor Fitzgerald, TD Cowen and Compass Point said the hack is unlikely to derail the crypto market. Coinbase reported third-quarter transaction revenue of $590.2 million, down 44% from a year earlier. Bitcoin traded near $77,454, down about 5% on the day. Crypto stocks fell sharply on Oct. 30 after a $6.3 billion security breach at Binance. Coinbase lost as much as 12.54% during the session. Coinbase Global, Inc., COIN Riot Platforms, Hut 8 and Robinhood each lost more than 8%.

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