Bloomberg Law
March 24, 2023, 7:12 PM

Crypto Stocks Avoid Worst of Coinbase Losses as Bitcoin Recovers

Carmen Reinicke
Carmen Reinicke
Bloomberg News

Most crypto-linked stocks skirted the brunt of the battering that investors dealt Coinbase Global Inc. this week, buoyed by a rebound in Bitcoin to the highest levels since mid-2022.

The shares of the largest US crypto exchange are down roughly 10% this week after disclosingWednesday that it received a warning notice from the Securities and Exchange Commission about potential violation of securities law. Meanwhile, an index of 35 firms in the industry, which includes Coinbase but also an array of miners, exchanges and software companies, has lost around 3%.

Coinbase is trailing the group on the week even ...

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