Coinbase short-sellers lost more than $230 million on Thursday as the company's stock price soared.
Coinbase short-sellers lost more than $230 million on Thursday as the company's stock price soared.
The crypto exchange announced a tie-up with BlackRock, the world's biggest asset manager.
The crypto exchange announced a tie-up with BlackRock, the world's biggest asset manager.
At one point the short-sellers were down by more than $1 billion on Thursday as the stock surged more than 40%
At one point the short-sellers were down by more than $1 billion on Thursday as the stock surged more than 40%
The mark-to-market losses amounted to $324.2 Mn by the time the market closed, with share closing above 10% levels.
The mark-to-market losses amounted to $324.2 Mn by the time the market closed, with share closing above 10% levels.
The crypto exchange company was last up by 11% on Friday.
The crypto exchange company was last up by 11% on Friday.
Coinbase was one of the most risky companies on the US stock exchange with more than 20% of its outstanding shares short sold.
Coinbase was one of the most risky companies on the US stock exchange with more than 20% of its outstanding shares short sold.
The crypto exchange company fell dramatically when investors have dumped the digital assets & tech stocks.
The crypto exchange company fell dramatically when investors have dumped the digital assets & tech stocks.
However the stock rallied sharply after it announced its partnership with Blackrock.
However the stock rallied sharply after it announced its partnership with Blackrock.
The company's stock finished 10.01% higher at $88.90 a share. However it remained more than 60% lower for the year.
The company's stock finished 10.01% higher at $88.90 a share. However it remained more than 60% lower for the year.
For more news please swipe up.
For more news please swipe up.
Swipe up