Coinbase and MicroStrategy Plunge 5% Amid Crypto Carnage

Major cryptocurrency-native stocks have tumbled in tandem with Bitcoin during an all-out market carnage.

MicroStrategy (MSTR) and Coinbase (COIN) both plunged by more than 5% during the Friday trading session.

The shares of major cryptocurrency mining companies, including Bitfarms (BITF), Riot Platforms (RIOT), and other companies have also tumbled.

Earlier today, the price of Bitcoin collapsed to an intraday low of $92,245, according to CoinGecko data.

The flagship cryptocurrency is currently changing hands at $97,022 after paring some losses.

As reported by U.Today, the cryptocurrency market took a severe beating after the Fed indicated that it would scale back easing in 2025.

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