Coinbase hits record low as investors flock to Dogecoin, Binance

The operator of the largest United States cryptocurrency exchange slumped 6 percent to $256.76 on Thursday, dropping for a fourth straight day.

Coinbase Global Inc. sank to a record low as investors fled high-flying market newcomers. The operator of the largest U.S. cryptocurrency exchange slumped 6% to $256.76 on Thursday, dropping for a fourth straight day. That left the shares just above the $250 reference price for its April direct listing. An exchange-traded fund that tracks shares of companies that recently went public plunged for an eighth day, the longest slide since 2015.