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.
Read original at benzingaCrypto · News reference
Coinbase Stock Surges Thursday: What's Happening?
Shares of Coinbase Global Inc (NASDAQ: COIN) are trading higher Thursday afternoon as a sharp Bitcoin rally and anticipation around an upcoming Senate vote on federal crypto regulation boosts sentiment across digital asset equities.
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A blowout August jobs report pushed traders to price a coin-flip chance of a Federal Reserve rate hike this month, dragging the S&P 500 and Dow lower by midday Friday.
Read original at benzingaShares of crypto-related companies are trading lower amid a decline in Bitcoin prices following August's hotter-than-expected payrolls report, which boosted expectations for a potential Federal Reserve rate hike at its next meeting. A stronger U.S. dollar and higher interest-rate expectations are further weighing on crypto and other risk assets by reducing investor appetite for speculative investments.
Read original at benzinga