Rating Agency Moody’s Downgrades Coinbase: It Could Drop It Even More

Moody’s, one of the most famous rating agencies in the USA, downgraded the ratings of the country’s leading cryptocurrency exchange Coinbase.

moody’s, Thursday, June 23 in a statement on the day Coinbase‘of Corporate Family Rating (CFR) your grade ba2from Ba3′to, unsecured debt securities your grade ba1from ba2He announced that he had downloaded it to .

The agency also noted for further declines in ratings. have been scrutinized stated. “Middle” expressing a degree of credit risk Baa3 gradeat the institutional level the lowest level represents.

in the statement that current market conditions may further affect Coinbase. giving place to thought moody’s used the following terms:

Today’s rating action reflects Coinbase’s significantly weaker revenue and cash flow generation due to sharp declines in crypto-asset prices and declining customer trading activity in recent months. Moody’s expects profitability to continue to be challenging in the current environment, despite the company’s report on June 14 that it has shed nearly 1,100 employees in its global workforce.

moody’s also in Coinbase’s prospective ratings volume of the stock market and with their income in relation to expenses, regulatory developments and general state of the crypto market He said he would consider factors such as

Coinbasethat it will shrink due to the problems experienced this month and that it will shrink in a one-year period. 5,000′e number of employees 18% announced that it would reduce

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