Crypto is crashing, coinbase to go with it.
The high sell volume is good for their revenue, but they won't have enough cash to cover, will either have to block outgoing fiat or take harsh loans.
Coinbase has already stopped free transfers with nicehash.
Coinbase is one of few with easy fiat out, it will have great inflow of crypto but no way to get rid of it for their clients.
Why is crypto crashing:
Over ran.
China, said no more crypto trading. Worlds largest exchange and over half the crypto market is Chinese.
Fed is investigating crypto exchanges.
Musk agreed it's bad for the environment, stop accepting it, and is likely dumping.
There's almost no where to actually spend crypto, and the few place that do take crypto payments for tangible goods, usually use an intermediary, that immediately gives fiat to the seller.
The high sell volume is good for their revenue, but they won't have enough cash to cover, will either have to block outgoing fiat or take harsh loans.
Coinbase has already stopped free transfers with nicehash.
Coinbase is one of few with easy fiat out, it will have great inflow of crypto but no way to get rid of it for their clients.
Why is crypto crashing:
Over ran.
China, said no more crypto trading. Worlds largest exchange and over half the crypto market is Chinese.
Fed is investigating crypto exchanges.
Musk agreed it's bad for the environment, stop accepting it, and is likely dumping.
There's almost no where to actually spend crypto, and the few place that do take crypto payments for tangible goods, usually use an intermediary, that immediately gives fiat to the seller.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.