Crypto stocks plunge as Bitcoin holds up better despite 39% drop from peak

Coinbase, Strategy and Circle lead losses across crypto equities as the Binance hack compounds a broader technology stock selloff fueled by disappointing earnings and rising AI spending. Crypto stocks plunged Friday, extending a broader decline that has left some of the industry’s largest publicly traded companies more than 50% below their peaks, even as Bitcoin has held up relatively better. Coinbase fell more than 12% in early trading, while Bitcoin treasury company Strategy declined approximately 10%. Circle lost around 9%, with Robinhood, MARA Holdings and Riot Platforms also recording substantial losses, according to Yahoo Finance data from Friday morning. Bitcoin traded near $77,000, down approximately 4% over 24 hours and nearly 39% below its October 2025 record of roughly $126,000.

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