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Why Coinbase Global Stock Dropped This Afternoon

·1 min read

Shares of Coinbase Global (NASDAQ: COIN) fell as much as 6.2% in trading on Wednesday as investors sold the crypto sector overall. When the crypto market falls, it's not uncommon to see Coinbase drop as well. The more troubling report was an academic study published by SSRN that accuses Coinbase insiders of earning $1.5 million in trading profits from insider trading.