Coinbase has been hit hard by the bear market this year. The share price of the popular crypto exchange reached a new low last week as a result, but in the meantime it is trying to prepare for a better time. The company even wants to expand in Europe.
More job opportunities at bitcoin exchange Coinbase
That writes the trading platform in one press release. It says it is ‘more committed than ever before’, which is why it is doubling down on Europe, the Middle East and Asia (EMEA). Evidently was the main focussnow in particular on America. After all, the EMEA zone is a huge part of the crypto market.
Coinbase, an exchange like the Dutch Bitvavo, wants to expand in this region because this is where the countries that offer ‘safe regulation’ are located. It cites the MiCA legislation, which must come into force in the European Union in due course, as a concrete example. The company explicitly praises (certain) EMEA countries for their consistent policies, with which it actually simultaneously lashes out at American regulators who seem to have offered less.
Earlier this year kthe U.S. Securities and Exchange Commission (SEC) announced it was investigating Coinbase. A number of cryptos are said to be securities that require registration. Also, a Coinbase top executive was recently arrested for insider trading, and most recently the exchange got in trouble with the SEC when it offered clients 4% interest on the USDC stablecoin.
All this stuff in the United States doesn’t mean that Coinbase is unaffected in other countries. In Germany, the company was accused of not being clear to regulators how Coinbase should be regulated in Germany.
Other crypto exchanges also positive
Meanwhile, Coinbase is not alone anymore. Binance announced the start of the bear market already indicated that it had a lot of cash on its balance sheet, and that this the Best period is for exchanges to further develop the industry.
Ook traditional financial institutions still see bread in crypto. For example, it turned out last August that Morgan Stanley has big plans. All in all, workers in the crypto industry remained in high demand.