Market Reaction to Coinbase Hack ‘Overblown,’ Say Analysts as SEC Probe Sinks COIN

A sharp sell-off in Coinbase (COIN) stock may be an overreaction to two pieces of bad news that hit on the same day, according to analysts at Barclays and Oppenheimer.Shares of the crypto exchange dropped 7.2% on Thursday after it disclosed a social engineering-driven data breach and later reports revealed a long-running Securities and Exchange Commission (SEC) investigation into whether the company overstated user numbers in its 2021 initial public offering (IPO) filing. The stock’s intraday dip reached nearly 9% before recovering slightly source: https://www.coindesk.com/markets/2025/05/16/market-reaction-to-coinbase-hack-overblown-say-analysts-as-sec-probe-sinks-coin