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the rally continues in the BTC spot market. at this time up 8.71%
Looks like there has been a delink-age between COIN and BTC. BTC up 3.96% in the spot market.
Then again maybe not
Actually 29% gain, bought them back $3.00 lower 10 minutes later. What a chart!!!! $COIN
Coinbase to Lay Off More Workers in Second Round of Cuts
January 10 2023 - 07:42AM
Dow Jones News
By Will Feuer
Coinbase Global Inc. said it is laying off 950 employees to cut costs, another round of job cuts after the cryptocurrency exchange cut its headcount by about 18% last year
In a blog post published Tuesday, Coinbase Chief Executive Brian Armstrong said the crypto industry has been hit by "fallout from unscrupulous actors." He warned that "there could still be further contagion."
"We need to make sure we have the appropriate operational efficiency to weather downturns in the crypto market, and capture opportunities that may emerge," he said.
As of the end of September, Coinbase had about 4,700 employees, up almost 70% from a year earlier, according to a shareholder letter. The latest round of layoffs would affect about 20% of staff, based on that count.
Mr. Armstrong acknowledged the company's round of layoffs in 2022.
"In hindsight, we could have cut further at that time," he said. "While some of the factors that have brought us to this point are beyond our control, accountability rests with me as the CEO."
The company expects operating costs to fall by about 25% from a year ago in the quarter ending March 31, Coinbase said in a securities filing. The company said it expects to incur about $149 million to $163 million as part of a restructuring plan meant to cut costs.
Mr. Armstrong said the company will exit some projects that "have a lower probability of success," and that teams on other projects will continue to operate with fewer employees.
The company remains well capitalized, Mr. Armstrong said, "and crypto isn't going anywhere."
"Over the last decade, Coinbase has made it through multiple bear markets using this process," he said. "This is the first time we've seen a crypto cycle coincide with a broader economic downturn, but otherwise it is similar."...
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/89947431/coinbase-to-lay-off-more-workers-in-second-round-o
Well that was close to 25% gain. I sold some 7 cents from the 42.40 top lol
Bought in Friday and avg'd up this morning at 36.85
Magnetics just saw your message yeah this is dirt cheap and only the beginning sure it was over 250 a share until economic events and other crap dropped the price but come on as long as this company stays going it WILL b well above its all time highs in the months years to come Trust the process
Lol..good stuff. Thanks for the hot tip
Crypto is the future of money Coinbase should only go up as time passes and it's cheap right now
COIN is going OOB (~OUTT Of Bizzynezz) in 2023.
Everything else is just CONversation.
yahoo finance also says it has over 5 billion in cash though. also it says its trading at 1.48 p/book. down alot so could be a rally soon
All this kleptocurrency exchange is going to ZERO. Some kleptos may survive, butt the exchanges will be GONE.
Close to a bottom maybe? Seems like the more solid exchanges with cash on hand may come out ahead of all this stuff going on
Coinbase is the Lehman Brothers of the crypto bubble pop.
Coinbase adds 19 million verified users in 2022 despite crashing crypto markets.
Lol.. well get in there and buy all you can. Good luck with that
"Coin is going to $200 by 2023."
So in the next 15 trading sessions. LOLOL!!
Only with a 1-for-10 reverse split.
BK and OOB in 2023 for this turd.
No, nott COIN. COIN is headed for ~OUTT-of-binnizz by end of 2023 at the latest.
Crypto for Electric Vehicles https://investorshub.advfn.com/secure/post_reply.aspx?message_id=170651553 $COIN
Or it can make you more than 4K. But thanks for sharing your insights.
A 4K investment can lose 4K in this turd,
A 4k investment rn could return a quarter million in a few years. If we drop under 10 bucks, 4k is now worth near a milly as we ride btc's ascension wave to a milly, which WILL HAPPEN. That million dollar ppc is coming. Make no mistake. This is all coordinated. Planned and strategic. I plan on buying more, but not today. We're headed lower.
BUY TO HOLD!
COIN!
Here's a slightly more positive article, amongst the nonsense out there.
https://www.tipranks.com/news/article/could-coinbase-nasdaqcoin-be-the-next-ftx
Anyone that reads the quarterly knows CB is still in a very healthy/ liquid, position. As closely aligned as our pps and btc's ppc are, even if we both shed another 70%, we're still not delisted. For a CEX, this is a great time for us to gain the trust of the market and crypto whales. As a publicly traded company, the Financials are transparent. Unlike, Celsius, FTX, Gemini, etc. Even in the event of a delisting, the exchange itself is still healthy and fully operational. When btc hits 1M$, we'll be around $2,500 or so.
BUY TO HOLD!
NOT TO FLIP!
COIN!
Bitcoin could plunge 70% to $5,000, Standard Chartered predicts, in possible 2023 ‘surprise’
Standard Chartered said rising yields along with a plunge in technology stocks will lead to an acceleration of the bitcoin sell-off and cause further bankruptcies and collapses in the crypto world.
https://www.cnbc.com/2022/12/05/btc-bitcoin-could-fall-to-5000-standard-chartered-predicts.html
Crypto Stocks Teeter Near Abyss as Fink’s Warning Adds to Angst
https://finance.yahoo.com/news/crypto-stocks-teeter-near-abyss-150000942.html
When COIN/Coinbase goers down, it will be the LEHMAN BROTHERS for this cryptocurrency bubble.
Crypto firm BlockFi files for bankruptcy as FTX fallout spreads
Published Mon, Nov 28 202210:28 AM ESTUpdated 18 Min Ago
https://www.cnbc.com/2022/11/28/blockfi-files-for-bankruptcy-as-ftx-fallout-spreads.html
COIN will be the Lehman Brothers of the crypto bubble pop.
Jim Chanos Doubles Down On Coinbase Criticism: 'It Just Doesn't Work'
American investment manager and famed short seller Jim Chanos doubled down on his criticism of Coinbase Global, Inc (NASDAQ: COIN) during an interview with Srivatsan Prakash on Monday.
Chanos outlined why he believes Coinbase’s business model doesn’t work and why he believes the cryptocurrency exchange may eventually fall victim to other well-known brokerages.
"Coinbase has a business model problem. It just doesn’t work,” he said.
https://www.msn.com/en-us/money/savingandinvesting/jim-chanos-doubles-down-on-coinbase-criticism-it-just-doesn-t-work/ar-AA14quZi?cvid=bb87d83f8b74498aea74289f4aaaaca6
I love the Kasparov quote.
This turd is the Lehman Bros II of the crypto bubble pop - it ain‘t gonna survive it.
Respect!! I do think it's the most popular platform for crypto!! At least you have a plan!!
I've got buys in low 30's on down
That might be true!! The question is how much will it be worth?? Looking for a low in the teens!!
And another one bites the dust:
Crypto Brokerage Genesis Is Said to Warn of Bankruptcy Without Funding
Mon, November 21, 2022 at 4:26 PM
(Bloomberg) -- Digital-asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and it’s warning potential investors that it may need to file for bankruptcy if its efforts fail, according to people with knowledge of the matter.
Genesis has spent the past several days seeking at least $1 billion in fresh capital, said the people, who asked not to be identified because discussions are private. That included talks over a potential investment from crypto exchange Binance, they said, but funding so far has failed to materialize.
The rush for funding was precipitated by a liquidity crunch at the lender after the sudden collapse of FTX, one of the world’s largest crypto exchanges. Genesis halted redemptions shortly after revealing on Nov. 10 that it had $175 million locked in an FTX trading account.
“We have no plans to file bankruptcy imminently,” a representative for Genesis said in an emailed statement. “Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors.”
A representative for Binance declined to comment.
Other platforms are facing their own struggles as redemption requests roll in after FTX’s bankruptcy filing roiled the crypto sector and left investors on edge about the risk of contagion.
Read more: From Genesis to Gemini, How FTX’s Collapse Signals No One Is Safe
Gemini Trust Co., the crypto platform run by Tyler and Cameron Winklevoss, announced customer withdrawals from its yield-generating product would be delayed, given Genesis’s role as a key partner in the program.
https://finance.yahoo.com/news/crypto-brokerage-genesis-warns-bankruptcy-214555395.html
Bitcoin drops to 1-week low, ether slides 7% as FTX collapse ripples through crypto market Published Mon, Nov 21 20223:57 AM EST
Bitcoin hovered around a one-week low on Monday and other major cryptocurrencies fell sharply, as the impact from the dramatic collapse of FTX continues to ripple through the market.
The cryptocurrency market has come under pressure over the last two weeks as problems at major exchange FTX came to light.
From Nov. 6 — the day Binance CEO Changpeng Zhao said his exchange would liquidate its FTT tokens — the crypto market has lost more than $260 billion of value.
Bitcoin hovered around a one-week low on Monday and other major cryptocurrencies fell sharply, as the impact from the dramatic collapse of FTX continues to ripple through the market.
Bitcoin was down 3.6% to trade around $15,990.89 at 3:40 a.m. ET, according to CoinDesk data. Ether fell 7% to $1,120.61.
Crypto markets remain on edge because it is unclear how the FTX saga will end, and whether there will be further contagion across the industry.
Investors have been burned by a number of high-profile crypto failures this year which have caused significant ripple effects.
Earlier this year, the collapse of terraUSD, a type of cryptocurrency known as an algorithmic stablecoin, had knock-on effects on a number of companies and contributed to the fall of major hedge fund Three Arrows Capital.
https://www.cnbc.com/2022/11/21/bitcoin-btc-ether-eth-fall-as-ftx-collapse-ripples-through-market.html
Getting a mini runup in the BTC spot market
Correct -- but Coinbase will very likely shake out as the best in its sector .
The difference is COIN actually is public and shows debt and financials . They are also the ONLY exchange allowed to operate in many US States because they are the only one to comply with requirements.
Nobuddy lobbied for crypto regulation more than SBF:
https://www.coindesk.com/policy/2022/11/10/washington-dcs-buddy-sam-bankman-fried-has-some-explaining-to-do/
That’s what I’m betting on too
It did -- it soared on arguably one of the worst news days
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