Coinbase Global sees its credit rating downgraded by S&P Global amid regulatory pressures, weakened market performance and competitors.
Coinbase’s new institutional-focused staking product won’t be a “near-term phenomenon” while liquid staking is still being worked out.
BTC futures data shows bulls are not sure that Bitcoin price will hold above $24,000, but range-bound action could help them profit from Aug. 12’s $475 million options expiry.
TORN is near a historically strong support range, eyeing a 75% rebound by September 2022.
It’s the largest quarterly net loss for the crypto company since listing on the Nasdaq Stock Exchange in April 2021.
Both plaintiffs claim that Coinbase made fraudulent and deceptive representations regarding the company’s business.
Web traffic on FTX surged 123% YoY, while major exchanges like Coinbase and Binance were down 46% and 40% traffic-wise, respectively.
Despite a handful of the top-80 coins gaining 12% or more over the past week, Tether’s premium in Asia and futures markets activity show buyers lacking confidence.
In both cases, plaintiffs allege Coinbase made fraudulent and misleading statements about the company’s business, operations and compliance efforts throughout the class period.
BTC price bulls fail to take the market higher as the week continues, but buyer interest is giving hope.