Shares of major publicly traded cryptocurrency companies fell sharply on Friday after Binance disclosed a security breach that hackers used to steal approximately $6.3 billion, according to Cointelegraph. The incident added pressure to an already unsettled sector, while Coinbase was also dealing with a decline in third-quarter revenue.
Coinbase shares dropped more than 13%, according to Yahoo Finance data cited in the report. The decline came one day after the exchange published its third-quarter results and as investors assessed the potential consequences of what Binance confirmed was the largest cryptocurrency theft on record.
Crypto-linked shares retreat
The selling extended beyond Coinbase. Circle Internet Group, the issuer of the Circle stablecoin, fell more than 9%, while Strategy, a company known for holding Bitcoin as a treasury asset, declined by about 8%.
Bitcoin miner and data-center operator IREN lost more than 10%. Figure Technology Solutions, a blockchain-based financial-services company, fell approximately 9%.
The moves show how an event involving one crypto exchange can affect shares across several parts of the digital-asset industry. These companies have different business models, but their valuations and investor sentiment remain linked to broader confidence in cryptocurrency markets and infrastructure.
Coinbase and Strategy report mixed earnings signals
Coinbase reported net income of $719 million for the third quarter. About $715 million of that result came from gains on its cryptocurrency investments. On an adjusted basis, excluding investment gains and other items, net income was $78 million.
The exchange’s net revenue declined about 34% from a year earlier to $1.16 billion. At the same time, Coinbase said its prediction-markets business had exceeded $200 million in annualized revenue, providing a separate growth figure amid the fall in overall revenue.
Strategy also reported quarterly profit, but its result was largely driven by the change in the value of its Bitcoin holdings. Net income reached $19.53 billion, including a $20.91 billion gain on those holdings. Revenue fell 3% year over year to $125.4 million.
The company also said Andrew Kang will leave his position as chief financial officer on Nov. 5.
Market picture
Moneyiar market data at 12:38-12:39 p.m. Tehran time on Nov. 1, 2026, showed BNB at $710.8219612197, up 0.87% over 24 hours but down 3.77% over seven days. Chainlink (LINK) was $11.6299853498, with a 24-hour gain of 0.46% and a seven-day rise of 2.44%.
BAS traded at $0.0149472558, down 3.73% in 24 hours and 11.55% over seven days. Billions Network (BILL) was $0.0139971939, down 0.59% over 24 hours but up 10.04% over seven days.
The Binance disclosure came as crypto-related companies were reporting results shaped partly by movements in digital-asset prices. The combination of the breach and mixed operating figures put the sector’s earnings and security risks in focus.
