Coinbase, one of the top centralized cryptocurrency exchanges, has been hit by another lawsuit by an investor. The complaint filed by Brady Nessler on May 22 in Pennsylvania Federal Court accuses the exchange and two of its top executives of the sudden drop in the company’s stock price.

The lawsuit filed argues that the unprecedented decline in the stock price has hit investors with massive losses. 

Brady’s majorly argues over two points first about the data breach that occurred earlier this month which may have exposed users information and second is it violated an agreement with the UK’s Financial Conduct Authority, the company failed to disclose this violation in a timely manner.

Following these severe incidents the Coinbase stock registered severe fluctuation which resulted in losses to investors, the complainant says that if these issues were addressed timely and probably the shareholders could have made more informed decisions.

Now the investors are seeking damages to cover the losses that occurred due following Coinbase alleged failure of time reporting the incidents. 

On May 15, the globally known crypto exchange argued that its damage bill could run up to $400 million after it was slapped by an extortion attempt of $20 million. 

It is worth noting that, some of the costumer support executive Coinbase were bribed to penetrate into the internal system of Coinbase and steal a limited amount of data of the users.

What unusual fluctuation did Brady report in Coinbase stock price? 

As per the complainant, following the disclosure on May 15, 2025, Coinbase stock fell around 7.2% and closed trading at $244; it is argued that the information pulled COIN prices in a downward direction.

Yet on May 16 closing price was $266, which was up by 9%, but on May 23, it was at $263 with a loss of 3%, when writing, COIN stock was at $263.16 with a 3.24% in the May 24 trading session.

According to data from TradingView, Coinbase stock is up by 5.37% in a week and around 33.08% however in YTD frame its growth remains slow as it added 2.60% only.

Source: TradingView

Currently the price of Coinbase are above it’s 20 day, 50 day, 100 day and 200 day exponential moving average, with revolving just near to its annual price target.

Coinbase Global Inc has a market capitalization of $68.03 billion with is just 0.76% from the cap reported by the end of 2024. 

Nevertheless, the capitalization of the company was in fast and furious mode in between 2022 and 2023, as in 2022 it was reported at $9.26 billion after a surge of 349% it was reported $41.06 billion in 2023.

Crypto market price updates 

Until publishing the crypto market capitalization was $3.45 trillion with a surge of 2.49% in the past 24 hours, at the same time the crypto fear and greed index was at 69 indicating greed in the market.

In the past 24 hours the intraday gainers list has been topped by Jupiter, Virtual Protocol, Hyperliquid, Artificial Superintelligence Alliance, Uniswap, Raydium, Injective, The Graph and EOS.

On the other hand the gainers in the weekly frame are Hyperliquid, SPX6900, Zcash, Jupiter, Worldcoin, Aave, Monera, Dogwifhat and Fartcoin.