Coinbase Witnesses Major Outage Amidst Continued Crypto Bloodbath | Bitcoinist.com

Coinbase Witnesses Major Outage Amidst Continued Crypto Bloodbath | Bitcoinist.com

The Federal Reserve's intention to hike interest rates throughout 2022 in an effort to curb soaring inflation has undoubtedly sparked fears of a looming recession. And this sentiment has caused a sell-off in risky assets, including cryptocurrencies. A weak market for cryptocurrencies translated to lower trading volume and a revenue decline of 27% for crypto exchange operator Coinbase (COIN 16.02%) in the first quarter. Consequently, the stock has been getting hammered, down 79% so far this year as of this writing. But amid all of the negativity, it's best to remain optimistic. Here's why Coinbase's stock looks like an absolute steal right now. Coinbase is building the crypto economy The first decade of Coinbase's life has been dominated by cryptocurrencies being viewed mainly as a tool for investment. Offering a …
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