Latest News by Industry
Coinbase Global Inc (NASDAQ: COIN) shares soared 9% on Monday as cryptocurrencies like bitcoin and ether rallied.
Bitcoin climbed above $22,000 on Monday, trading up 5% on the day, hitting its highest level in more than a month. The currency has not traded above $22,000 since June 16, 2022.
The second-largest cryptocurrency, ether was trading up 10% over the last 24 hours at $1,477.
According to CoinMarketCap, ethereum comprises roughly 30% of Coinbase’s trading volume, while Bitcoin contributes about 21%.
Coinbase, which has roughly 5,000 full-time workers, said in an email to employees last month that it is laying off 18% of its full-time workers.
Shares of the company are down 76% for the year.
Picture Credits: Getty Images
ALSO READ: