Shares of Coinbase Global Inc.
COIN,
-3.14%
were down 2% in Friday afternoon trading and on track to post their longest losing streak on record, according to Dow Jones Market Data. The stock is on pace to fall for the eighth session in a row, and it’s declined nearly 16% over that span. The drop in Coinbase shares comes as technology names with high multiples have pulled back recently amid interest-rate fears, and as
BTCUSD,
+0.34%
prices have gotten crunched in the past two days. Additionally, the Wall Street Journal reported that a judge said Thursday she would let the Securities and Exchange Commission move ahead with an “interlocutory appeal” of a cryptocurrency ruling that had been seen by Wall Street as a potentially favorable signal amid Coinbase’s own regulatory battles.
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