Why Coinbase Stock Was Plummeting This Week

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If cryptocurrencies are dropping sharply in value, you can bet that Coinbase Global (NASDAQ: COIN) is tumbling right along with them. The recent investor exodus from all manner of digital coins and tokens is having a bad knock-on effect on the crypto exchange operator's stock; according to data compiled by S&P Global Market Intelligence it had lost 25% of its value week to date as of Friday before market open. Now is a bad time to be invested in cryptocurrency and any other assets strongly associated with digital money.