IT Home reported on November 22 that the cryptocurrency trading platform Coinbase was listed on the Nasdaq Exchange in April last year and is also the first cryptocurrency exchange to be listed. According to MarketWatch, the market value of Coinbase fell below US$10 billion for the first time since its listing last year.
IT Home learned that on Monday local time, the share price of Coinbase US stock fell 8.9% to US$41.23, and the total market value of was approximately US$9.283 billion (about RMB 66.466 billion). This is far from the high of US$76.9 billion (about RMB 550.604 billion) market capitalization reached by Coinbase on November 9, 2021.
MarketWatch pointed out that Coinbase has fallen by about 84% so far this year. Coinbase's dilemma is consistent with the plunge in the value of digital assets, but its performance is worse than Bitcoin and Ether , the former has fallen 66% this year and the latter has fallen 70% .
Earlier this month, Coinbase confirmed that it would lay off about 60 people in the recruitment and agency entry departments . Elliott Suthers, head of corporate messaging at Coinbase, said the layoffs will be conducted in departments that are not as active as before, with the goal of helping Coinbase operate as efficiently as possible.
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