Coinbase is betting on European expansion amid crypto winter
Join Our Telegram channel to stay up to date on breaking news coverage While the crypto winter chills trading activity in its home market, Coinbase wants potential clients in Europe to give them a warm welcome. However, extending into Europe might not be sufficient to turn around the company’s fortunes. The publicly traded U.S. crypto currency exchange closed the majority of its Japanese operations on Tuesday morning after further 20% personnel reductions. In order to realign its efforts while battling the bear market’s challenges, it also laid off 18% of its workforce last summer. Coinbase wasn’t always having trouble Coinbase was riding high on the mainstream adoption of cryptocurrencies at the end of 2021. Investors who had never purchased a bond or made a stock market investment came to the cryptocurrency exchange to trade popular tokens like ether, bitcoin, and dogecoin. The company’s flood of clients contributed to 2021’s revenue and profi...