Coinbase Continues to Buy Crypto Even as Market Struggles

Published by
The Street

By Tony Owusu Coinbase purchased $500 million in crypto assets in August and has bought even more over the past few weeks. Cryptocurrency trading platform Coinbase (COIN) had a strong fourth quarter and fiscal year by any measure, but the depression in the crypto market has investors and even the company’s C-suite searching for answers. Coinbase’s nearly 30% year to date decline has even outpaced the crypto markets nearly 20% drop over the same period. Coinbase’s stock seems tethered to the performance of cryptocurrencies and while the company’s business is obviously tied into digital currenci…

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