{
  "id": 17267265,
  "title": "Coinbase leads crypto stock selloff following $6.3B Binance hack",
  "url": "https://urgent.news/2026/10/30/coinbase-leads-crypto-stock-selloff-following-6-3b-binance-hack",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T17:48:27.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/markets/coinbase-leads-crypto-stock-selloff-shares-tumble"
  },
  "original_language": "en",
  "account": "Shares of publicly traded cryptocurrency companies plummeted sharply on Friday, a day after Binance revealed a $6.3 billion security breach. Coinbase experienced the most significant decline, falling more than 13% following a decline in third-quarter revenue. Circle Internet Group (CRCL) and Bitcoin treasury company Strategy (MSTR) also saw substantial drops, with CRCL falling over 9% and Strategy down about 8%. The market-wide sell-off was triggered by the Binance breach, which was disclosed earlier in the week. Coinbase and Strategy both reported third-quarter earnings on Thursday, with Coinbase reporting $719 million in net income due to significant gains on cryptocurrency investments, despite a 34% year-over-year decline in revenue to $1.16 billion. Strategy reported a net income of $19.53 billion, driven largely by a $20.91 billion gain in the value of its Bitcoin holdings, while revenue declined by 3% year-over-year to $125.4 million. The company also announced that Andrew Kang would be stepping down as chief financial officer on November 5. Other crypto-linked stocks, including Bitcoin mining and data center operator IREN (IREN) and blockchain-based financial services company Figure Technology Solutions (FIGR), also saw declines, with IREN falling over 10% and FIGR dropping about 9%.",
  "summary": "Circle, Strategy and other crypto-linked stocks fell sharply Friday, a day after Binance disclosed a $6.3 billion security breach.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}