Coinbase (COIN -5.50%), one of the world’s largest cryptocurrency exchanges, went public through a direct listing last April. It closed at $328.28 on the first day. Coinbase initially dazzled the bulls as Bitcoin (BTC -3.15%), Ether (ETH -5.31%), and other cryptocurrencies surged to record highs.
But over the past year, the crypto market collapsed as rising interest rates drove investors toward more conservative investments. The failures of numerous smaller cryptocurrencies and exchanges…
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