Coinbase confirms crypto woes and uncertainties

It’s not good to be a crypto investor or a cryptocurrency exchange in 2022.

The digital asset industry is going through one of its worst times since the emergence of bitcoin in January 2009.

The market fell sharply by $2 trillion from its all-time high of $3 trillion in November, a data firm says CoinGecko. Bitcoin (BTC), the most popular cryptocurrency, has lost over 69% of its value since hitting a record high of $69,044.77 on November 10, 2021.

At the same time, hacks have reached an all-time high, according to blockchain security firm Chainalysis, which is helping to undermine the mass adoption of cryptocurrencies.


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