Shares of the largest cryptocurrency exchange in the United States fell by about 8% to below $ 42.
Coinbase Shares Are On the Decline
After the rapid dissolution of FTX, trust in centralized crypto currency exchanges has decreased from good to good.
Many investors began to transfer their assets to cold wallets after the victimization experienced in FTX. The value of the assets withdrawn from the stock markets is expressed in billions of dollars.
The decrease in trust in exchanges has also negatively affected local tokens. Binance’s token BNB fell by 4.13%, while Gemini’s GUSD also lost 1.86%.
The crisis in the crypto sector caused Bitcoin to fall below $16,000 again. Similarly, Eth declined by 3.25%.
Coinbase, in its third quarter balance sheet, announced that expenses decreased from $ 1.8 billion to $ 1.1 billion.
With these events, the exchanges continue to reduce the number of staff. Exchanges such as Coinbase and Gemini have been forced to lay off many of their employees by downsizing.
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