Why Bitcoin- And Ethereum-Related Stocks Coinbase And Riot Blockchain Are Getting Hammered Today

Shares of crypto-related stocks, including Coinbase Global Inc COIN and Riot Blockchain Inc RIOT, are trading lower Wednesday afternoon amid ongoing weakness in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bitcoin is trading 2.90% lower Wednesday afternoon at around $29,950.

Ethereum is trading 3.76% lower Wednesday afternoon at around $1,960.

Coinbase is the leading cryptocurrency exchange platform in the United States.

Coinbase is trading lower by 8.40% at $64.12 per share.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The company's portfolio consists of Verady, Tesspay, Coinsquare and others.

Riot Blockchain is trading lower by 10.10% at $6.85 per share.