Coinbase Hails Internal Growth Amid Bitcoin's 50% Slump

Jemima Kelly, a journalist covering crypto and finance at Financial Times, highlighted comments from a Coinbase executive about internal growth at the company.

The executive noted that despite external headlines suggesting otherwise, Coinbase has been consistently progressing. However, this progress is overshadowed by the decline of Bitcoin, which has dropped by over 50 percent in the past nine months.

Kelly criticized the situation, stating that 'levels of grift are extremely high'. She emphasized the disconnect between internal growth and external performance, particularly in light of Bitcoin's significant price drop.