Binance Hack Sends Crypto Stocks Tumbling

A major cyber theft at Binance has jolted crypto markets and the companies exposed to them. The largest cryptocurrency exchange said losses totaled $6.3 billion, triggering a broad selloff on Friday. Coinbase fell more than 12% early in the day, while Strategy—one of the biggest public holders of Bitcoin—dropped over 10%. Robinhood, where users can trade cryptocurrencies, was down more than 8%. Bitcoin slid nearly 5% to $76,800. Ethereum and Solana were also pressured, each down around 5% during the same session, extending weakness across the sector as investors reassessed risk.