Coinbase downgraded by Moody's, may be cut further

Coinbase downgraded by Moody's, may be cut further

From theblock.co

Ratings agency Moody's said Thursday that it downgraded US crypto exchange Coinbase's senior unsecured notes. Specifically, Moody's said it "downgraded Coinbase Global, Inc.'s (Coinbase) Corporate Family Rating (CFR) to Ba3 from Ba2 and downgraded its guaranteed senior unsecured notes to Ba2 from Ba1." "The ratings were placed under review for further downgrade," the agency added. The Baa3 rating refers to a "moderate" degree of credit risk and represents the lowest level of institutional-grade creditworthiness. In its explanatory note, Moody's highlighted: "...Coinbase's substantially weaker revenue and ... (full story)

- Older Stories
Buy Bitcoin or start mining? HashWorks CEO points to ‘attractive investment yield’ in BTC mining
From cointelegraph.com|Jun 23, 2022
Recently, bad news has abounded, and the resulting fear is real. DeFi is looking dead, altcoins completed their lifecycle by returning back to $0 (I guess that’s a joke), and ...
The future of digital asset regulation? The CFTC, says Congressional committee
From theblock.co|Jun 23, 2022
Within Congress, the Commodity Futures Trading Commission is picking up political momentum to regulate crypto markets directly. On June 23, a subcommittee of the House Agriculture ...
CoinFLEX Halts Withdrawals, Citing ‘Uncertainty’ Around Unnamed Counterparty
From blockworks.co|Jun 23, 2022
CoinFLEX has suspended all withdrawals in the latest instance of an exchange going offline amid turbulent trading. Customers can continue to trade and deposit, but no funds can be ...

- Newer Stories
Coinbase to launch 'nano' bitcoin futures via brokerages as it pursues CFTC approval
From theblock.co|Jun 23, 2022
Coinbase will roll out its first derivatives product next week with the launch of so-called "nano" bitcoin futures. In a Thursday blog post, Coinbase Derivatives Exchange — the ...
Soccer Superstar Cristiano Ronaldo Is Making NFTs for Binance
From decrypt.co|Jun 23, 2022
Cristiano Ronaldo has entered a multi-year joint marketing agreement with crypto company Binance. As a part of the deal announced today, multiple Ronaldo NFT collections will be ...
Harmony's cross-chain bridge hit by ETH theft worth nearly $100 million
From theblock.co|Jun 23, 2022
The team behind the Harmony blockchain network has announced that Horizon, its cross-chain bridge to Ethereum, suffered a theft worth nearly $100 million in ETH. The theft ...