Morning Minute: Coinbase Posts Surprise Loss as Crypto Trading Dries Up
Decrypt·
60-second summary
Coinbase posts a surprise loss as crypto trading dries up, with revenue plummeting 26% year-over-year. Meanwhile, Bitcoin is trading lower despite $233 million in ETF inflows yesterday, a mixed signal for the market. New York State is also targeting Kalshi, seeking $36 billion in damages, further clouding the regulatory outlook for the industry.
Plus, BTC is red this morning despite $233M in ETF inflows yesterday; and NY State is trying to shut down Kalshi and seeking $36B in damages