Coinbase Slides as Hot Jobs Report Dents 10% Rally
Coinbase fell as hot jobs revived Fed hike bets and pushed Bitcoin below $80,000, while higher rates could help stablecoin revenue.
When lots of people get new jobs, the Federal Reserve might raise interest rates, which made Bitcoin drop and hurt Coinbase's stock price today. Watch how interest rates move, because higher rates could help Coinbase make money from stablecoins (like digital dollars) but might hurt other parts of the business.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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