Coinbase leads week's financial losers, while Argentine banks rise the most

This week's gainers among financial stocks were led by Argentine lenders, while a high-profile cryptocurrency exchange that ran into legal trouble topped the decliners.

Overall, financial stocks (with market cap over $2B) closed out the week ended June 9 in the green, with the Financial Select Sector SPDR ETF (NYSEARCA:XLF) advancing 1.1% and outpacing the S&P 500's 0.4% rise.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL), +25.3%, Banco BBVA Argentina S.A. (NYSE:BBAR), +19.3%, and Banco Macro S.A. (NYSE:BMA), +18.4%, notched the biggest gains of financial stocks;

SoFi Technologies (NASDAQ:SOFI), the fintech bank known for refinancing student loans, jumped 16.4%, as the White House considered how it will proceed if the Supreme Court strikes down President Joe Biden's student debt cancellation program; and

Navient (NASDAQ:NAVI), another student-loan related stock, climbed 12.3%.

The biggest loser was Coinbase Global (NASDAQ:COIN), which got sued Tuesday by the Securities and Exchange Commission for allegedly operating as an unregistered securities broker, dropping 17.5%;

Corebridge Financial (NYSE:CRBG), a provider of retirement solutions and insurance products, slumped 7.8%;

Life and health insurer Brighthouse Financial (NASDAQ:BHFAM) dipped 3.9%;

FirstCash Holdings (NASDAQ:FCFS), an operator of retail pawn stores, slipped 3.5%; and

Investment manager AllianceBernstein (NYSE:AB) edged down 3.2%.

Seeking Alpha contributor Kevin George rated COIN as a Sell as the SEC suit "will add further uncertainty to the centralized exchange business model and the coming months could be tough."