Crypto-linked stocks fell, with Circle down more than 9%, Strategy about 8%, IREN more than 10% and Figure Technology Solutions about 9%, according to Yahoo Finance data cited at the time of writing. The declines followed disclosure of a Binance breach; the source says Binance confirmed that hackers stole about $6.3 billion. It does not establish that the breach caused the stock declines.
Coinbase and Strategy also reported third-quarter earnings. Gains on cryptocurrency holdings lifted their profits even as revenue fell: Coinbase reported $719 million in net income, including about $715 million in investment gains, while Strategy reported $19.53 billion in net income, largely driven by a $20.91 billion gain in the value of its Bitcoin holdings.
