Moody’s Downgrades This Crypto Exchange’s Credit Rating!

Moody’s, one of the world’s most reliable credit rating agencies, cryptocurrency stock market Coinbase’s lowered your credit rating. Downgrading both the corporate family rating and the top unsecured rating at the same time, Moody’s attributed the decline to the harsh conditions in the crypto market.

In the report it prepared, the credit rating agency lowered the corporate rating from BA3 to BA2, while lowering the unsecured rating from BA2 to BA1. Officials announced that they observed a weakening in the cash flow and revenue of the exchange, depending on the crypto market conditions.

moody’s, FTX He stated that the increasing regulatory pressure on crypto exchanges with the bankruptcy of the stock exchange has led to an uncertainty.

“Following the bankruptcy of the FTX exchange, the lawmakers may come on the crypto trading platforms. This will have a further negative impact on Coinbase’s revenues, making it more difficult to access funding.”

How Can Coinbase Recover?

Authorities also included positive reviews about Coinbase in their report. Moody’s, which welcomed the stock market’s reduction in the labor force within the framework of restructuring due to market conditions, announced that its credit rating may rise again with the clarification of sector regulations.