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Crypto Biz: Coinbase downgraded, 3AC deemed insolvent and Michael Saylor buys the dip

Cryptocurrency Jul 02, 2022 07:20PM ET
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Crypto Biz: Coinbase downgraded, 3AC deemed insolvent and Michael Saylor buys the dip

Coinbase (NASDAQ:COIN) has long been considered an important bellwether of the cryptocurrency market. Last year, when the company was expanding its workforce, adding institutional clients and issuing stock, crypto prices were hitting record highs. Now, in the depths of crypto winter, Coinbase finds itself slashing a fifth of its workforce, losing retail trading volume and contending with downgrades of its credit and stock.

This week’s Crypto Biz dissects Goldman Sachs’ latest downgrade of Coinbase and also looks at the latest developments surrounding Three Arrows Capital.

Goldman Sachs (NYSE:GS) downgrades Coinbase stock to ‘sell’

21Shares responds to bear market with crypto winter ETP

British Virgin Islands court reportedly orders to liquidate 3AC

MicroStrategy scoops up 480 Bitcoin amid market slump

Don’t miss Where is Bitcoin headed next?

Continue Reading on Coin Telegraph

Crypto Biz: Coinbase downgraded, 3AC deemed insolvent and Michael Saylor buys the dip
 

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Comments (5)
Bett Albern
Bett Albern Jul 03, 2022 12:31PM ET
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scam
San Marina
San Marina Jul 03, 2022 9:18AM ET
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Micro strategy now bought the recent dip nearly at $21k worth only $10M. Seems no more cash left. His average now is little above $30k. This means he is about 35% down.
sa ran
sa ran Jul 03, 2022 6:08AM ET
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This blurb omitted the important input data of how much of the MicroStrategy purchases are via borrowed money.  Subtract that from the holdings value too.
Sol Wein
Sol Wein Jul 03, 2022 5:40AM ET
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Its over for this bubble!
Hei Leopold
Hei Leopold Jul 03, 2022 3:29AM ET
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Did Saylor buy NET 480 bitcoin or did he sell 50000 and buy 480 to fool investors?
 
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