Why Coinbase Stock Dropped 9.2% Today

Shares of Coinbase Global (COIN -9.22%) dropped by as much as 10.4% in trading on Monday as investors speculated that interest rates would stay higher for longer than previously expected. Shares ended the session down 9.2%.Interest rates and CoinbaseThe common perception is that lower rates help the crypto industry. Low rates for safe, interest-bearing investments push more investors into riskier assets, and crypto falls in the high-risk category.Major crypto tokens often trade correlated to growth stocks, ...