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Coinbase Stock Hits New All-Time Low Amid Plummeting Yearly Revenues

Last Tuesday, Coinbase CEO Brian Armstrong said that the crypto exchange's 2022 revenue will be 50% or less than that of the prior year. 

By Monday’s open this week, COIN had fallen to $39.65—its lowest price ever. 

The figure represents a 60% drop from $98 in early August, when the exchange experienced a brief rally on news of its partnership with BlackRock. At the time, the asset management giant began offering institutional access to Bitcoin trading and custody to users of its Aladdin platform, with support from Coinbase Prime. 

(by Andrew Throuvalas)

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