Shares of Coinbase fell 19.5% to $83.51, marking the largest single-day fall in the company's history. The crypto exchange's stock has dropped more than 77% from its all-time high of $368.90 in November.
Meanwhile, Bitcoin has dropped more than 50% from its all-time high, reaching its lowest point in 2022, representing one of the greatest price drops in recent years. The price decline comes amid a broader crypto market crash that has seen the worth of cryptocurrencies plummet by roughly $300b in the last four days. Ethereum (ETH) followed Bitcoin's downfall, losing 13% of its value since last week, while other major cryptocurrencies did much worse. Solana (SOL) has been down more than 16% in the last week, while Terra (LUNA) has dropped more than 25%.