Coinbase plunges more than 14% as bitcoin dives

The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021.

The shares of the company are down. Before markets opened, shares were down more than 20%.

People buying and selling cryptocurrencies get a commission. The move on Monday appears to be tied to the decline of thecryptocurrencies.

The coin is currently trading at a level not seen in more than two years. Since the start of the weekend, the value of the market has been wiped out.

The price of digital currency has fallen. The company said Monday that it is pausing all withdrawals, swaps and transfers. The decision to temporarily stop the withdrawals was made because of a problem with a transaction.

Revenue fell 27% year-over-year in the first quarter as usage declined, and the company's stock is down 75% year to date. The company said at the time that they believed the market conditions were not permanent.

The report was contributed to by CNBC.

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