The Clap Shares of cryptocurrency exchange platform Coinbase fell more than 11% as most cryptocurrencies suffer heavy losses.
The deets Over $200 billion have been wiped off of the crypto market’s value in less than three days. The most popular cryptocurrency, Bitcoin, is trading at its lowest level since December 2020.
Why this matters Coinbase’s business model is based on the commission gained from users buying/selling cryptocurrencies. While the stock is currently almost 80% down year-to-date, the company remains adamant that its stock is a long-term investment.