Coinbase Global (NASDAQ: COIN), which owns one of the world's largest cryptocurrency exchanges, saw its stock close at an all-time high of $357.39 on Nov. 9, 2021. The bulls rushed to the stock as cryptocurrency prices soared and investors aggressively accumulated shares of growth and meme stocks.

But today, Coinbase's stock trades at about $109 a share. It plummeted about 70% as rising interest rates drove investors away from cryptocurrencies, meme stocks, and other speculative investments. The failures of several high-profile tokens and exchanges also drove government regulators to tighten their grip on the freewheeling crypto market.

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Source Fool.com