A take on business from Times Square
Sponsored by NYC News Service and CUNY Newmark J-School
Reporter
A steep decline in cryptocurrency trading has plunged Coinbase Global Inc. (COIN) toward deep losses and analysts say there’s no easy fix to lift the company out of the red.
Crypto exchange Coinbase (COIN) has denied a Wall Street Journal report that it began quietly dabbling in proprietary trading earlier this year.
Crypto mining stocks have plummeted amid a red-hot inflationary environment, a trend that’s likely to continue as energy-efficient means of minting digital currency tokens continue to overtake traditional, energy-heavy crypto mining activities.
Stocks clawed back higher Thursday, following a series of retreats in recent sessions.
About the Journal
The Times Square Investment Journal covers companies, markets and personal finance from a newsroom in the heart of Manhattan. The Journal is sponsored by the NYC News Service and the Craig Newmark Graduate School of Journalism at CUNY.
Send comments and story tips to the editor.
greg.david@journalism.cuny.edu