Crypto-Exposed Stocks Sink Amid Bitcoin’s Decline, Broader Market Rout

Crypto-Exposed Stocks Sink Amid Bitcoin’s Decline, Broader Market Rout
Cryptocurrency stocks, including miners and exchanges, were falling as bitcoin, ether and other key cryptocurrencies sank on Friday.Crypto exchange Coinbase (COIN) was down about 10%, while MicroStrategy (MSTR), which held about 124,391 bitcoins on its balance sheet as of late December, fell about 8%. Shares of Robinhood (HOOD), whose crypto trading revenue has increased significantly in the last year, were down about 4%.The stock declines comes as bitcoin has fallen almost 11% in the past 24 hours to $38,644, trading below $40,000 for the first time in months. Ether fell about 13% to roughly $2,804 over the same time period,…