Coinbase, one of the main ways people buy and sell crypto assets (with a self-proclaimed 98 million users) and a top barometer for the industry’s health, is cutting its workforce by 18%. On Monday, crypto lender Blockfi and the exchange Crypto.com both announced they are cutting their workforces in light of the down market and a rough outlook for the rest of 2022. BlockFi plans to lay off 20% of its workers and […]
Coinbase shares plunged 17.4% before the bell on Wednesday after sliding 15% in extended trading when the company’s quarterly revenue missed market expectations and it swung to a loss as turmoil in global markets curbed investor appetite for for higher risk assets including cryptocurrencies. But that’s not the only problem Coinbase is facing. Coinbase chief executive said a disclosure in its latest quarterly filing did not indicate the largest U.S. cryptocurrency exchange […]