The latest order by state regulators led to a 9% decline in Coinbase's share price. The stock dropped from its daily high of $113 to as low as $101 before closing at $105. Chief Executive Officer Brian Armstrong previously assured customers that the enforcement action by the SEC and the proceedings initiated by state regulators wouldn't impact the staking services. "We're not going to wind down our staking service. Coinbase's staking product is architected and built in a way to be compliant," he stated at the time.