Coinbase Shares Fall More Than 13% After Binance Discloses $6.3 Billion Theft

Coinbase shares fell more than 13% Friday, leading declines among crypto-linked companies, one day after Binance disclosed a security breach involving about $6.3 billion in stolen funds. Circle Internet Group lost more than 9%, Strategy fell about 8%, and IREN, a Bitcoin mining and data center operator, dropped more than 10%. Figure Technology Solutions, a blockchain-based financial services company, declined about 9%. Binance confirmed Friday that the breach involved about $6.3 billion in stolen assets. The theft is the largest in cryptocurrency history. Coinbase and Strategy released third-quarter results Thursday.