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Why Bitcoin- And Ethereum-Related Stocks Coinbase, Marathon Digital And Riot Platforms Are Falling

Benzinga · Mar 27, 2023 12:47

MARA +0.62% RIOT +3.97% COIN -1.78%

Coinbase Global Inc (NASDAQ:COIN), Marathon Digital Holdings Inc (NASDAQ:MARA) and Riot Platforms Inc (NASDAQ:RIOT) shares are all trading lower Monday afternoon amid broader weakness across cryptocurrencies.

Shares of several altcoins are trading lower following reports Binance and co-founder, Changpeng Zhao (CZ), were sued by the CFTC over US regulatory violations.

The regulatory body accused the company of violating trading and derivatives regulations, Bloomberg reported.

The legal action was initiated on Monday in a federal court located in Chicago.

CZ had recently raised concerns over the recent shutdown of cryptocurrency friendly banks, stating that it feels like there is a coordinated effort by the U.S. government to shut down such banks.

According to data from Benzinga Pro:

COIN is trading lower by 10.29% to $60.85
MARA is lower by 7.23% to $7.24
RIOT is lower by 6.02% to $8.11

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

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In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.

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