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Coinbase Tumbles to Record Lows as Crypto Meltdown Deepens

  • Shares and bonds of trading platform plunge amid market rout
  • Coinbase reported lower-than-expected revenue on Tuesday
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Coinbase Shares Fall After Q1 Revenue Miss
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Coinbase Global Inc. shares and bonds plunged to new lows, signaling investor skepticism about the prospects of the crypto exchange in a worsening bear-market. 

Shares plunged as much as 31% to $50.15 on Wednesday, a far cry from its first-day closing price of $328.28 when it went public last April. Its bonds also plunged, trading in line with some of the highest-risk junk-rated notes.