Cryptocurrency-tied stocks slip amid ongoing digital coin industry turmoil

Investing.com -- Shares in cryptocurrency-exposed stocks slipped in premarket trading on Monday, extending declines in the previous session that were sparked by lawsuits brought by U.S. regulators against two major digital token exchanges.

Coinbase Global, Inc. (NASDAQ: COIN), who was sued last week by the Securities and Exchange Commission for allegedly operating an unregistered exchange, saw its shares drop by more 1.50%. The group, along with rival Binance, is at the center of a broader SEC crackdown on the cryptocurrency industry. On Friday, Coinbase stock shed 2.95%.

Elsewhere, cryptocurrency miners Riot (NASDAQ: RIOT) and Marathon Digital Holdings, Inc. (NASDAQ: MARA) were also in the red.

The moves come as Bitcoin edged up 0.74% to $25,973.2 as of 07:24 ET (11:24 GMT). The modest gains marked a slight recovery from a dip earlier on Monday. The value of the world's most popular token has decreased by over 2.50% in the past seven-day period.

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