In recent years, Bitcoin has emerged as one of the most divisive asset classes. The term “digital gold” will one day be used to describe blockchain tokens. After a week, experts are raising the red flag that cryptocurrency is just one big Ponzi scheme.
Social media personalities have entered the scene in addition to discernible viewpoints on the legality of cryptocurrencies, boosting the value of various tokens by promising they will “go to the moon.”
Coinbase (COIN 1.39%), the largest publicly traded cryptocurrency exchange. The business has been in the spotlight frequently since its initial public offering in April of last year. Coinbase recently received a Wells Notice from the Securities and Exchange Commission (SEC), which outlines the SEC’s opinion that the business (or person) should be prosecuted for securities breaches.
Unsurprisingly, this revelation caused the price of Coinbase to plunge. How serious is this for the biggest cryptocurrency exchange in America? As we delve
For the fiscal year that ended on December 31, 2022, Coinbase reported total revenue of $3.1 billion. In order to put this in context, revenue for 2021 was predicted to be $7.4 billion. Coinbase reported to Net Harm compared to $2.6 billion in 2022 Positive Net income of $3.6 billion in 2021, which only made issues worse.
