Coinbase Shares Hit All-Time Low

Shares Coinbase (COIN) have sank their lowest price since going public in April 2021.

Shares of the U.S-based cryptocurrency exchange dropped to $40.62 on Monday, a fallout of the exchange’s exposure to bankrupt crypto exchange FTX and the widespread crypto contagion.

Coinbase stock traded up to $400 on the day the company went public on the Nasdaq last year, the highest price it has been in its history.

The stock has lost more than 80% of its value this year, underperforming most cryptocurrencies.

Coinbase’s bonds dropped 15% this month and are trading at 50 cents on the dollar.

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