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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

Coinbase shares climb 9% as crypto rallies

Coinbase Global Inc (NASDAQ: COIN) shares soared 9% on Monday as cryptocurrencies like bitcoin and ether rallied

By Shubhangi Mathur
Published - Jul 18, 2022, 08:01 PM ET
Last Updated - Mar 12, 2024, 09:19 AM EDT

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%.

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