Coinbase (COIN) fell 11% to $142.50 after weak Q3 2026 results and a record $6.3 billion theft at Binance, which investigators say North Korean hackers are likely behind. Net revenue fell 34% year over year to $1.16 billion, below the $1.21 billion analysts expected, and net income of $719 million was mostly driven by a $715 million crypto investment gain; adjusted net income was just $78 million. Transaction revenue dropped 44% to $590 million as crypto volatility sat at multi-year lows, while prediction markets passed $200 million in annualized revenue. Barclays cut its price target to $120 from $149 and Wells Fargo to $174 from $200. Strategy, Robinhood and Circle fell 12%, 10% and 9% respectively.
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Related tickers and likely impact
BNB/USDT
▼ Likely negativeBNB
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Exchange tokens |
| Market cap | $97.5B |
| Close on 10/29/2026 | 698.46 |
| Change that session | -8.08% |
BTC/USDT
▼ Likely negativeBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/29/2026 | 77,991.89 |
| Change that session | -4.12% |
ETH/USDT
▼ Likely negativeEthereum
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $285.6B |
| Close on 10/29/2026 | 2,253.13 |
| Change that session | -4.52% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Coinbase leads crypto stock selloff following $6.3B Binance hack
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