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trading volume and margin, analysts said, if more investors dabble in bitcoin from the safety of cheap exchange trade funds tracking its spot price. It will also impact Coinbase's trading commissions and spreads — the difference between the bid and ask price, J.P. Morgan analyst Kenneth Worthington said.

Crypto exchange Coinbase risks losing one-third of its total revenue due to ongoing legal pressure from federal regulators, according to several analysts familiar with the matter.

Cyber Monday to relieve stress on their wallets, according to Adobe Analytics. Shoppers are slated to spend between $12 billion and $12.4 billion online on Monday, with $782 million of purchases made with BNPL services, including Klarna and Affirm, representing a surge of nearly 19% from last year, the data company said.

 

Crypto meltdown may temper fintech earnings

The onset of the pandemic and a massive increase in the use of digital services led to a record number of IPOs among fintechs back in 2020, especially in the US. CB Insights data shows that 30 fintechs have listed in the US since 2020.

The onset of the pandemic and a massive increase in the use of digital services led to a record number of IPOs among fintechs back in 2020, especially in the US. CB Insights data shows that 30 fintechs have listed in the US since 2020.

bitcoin plunged to its lowest point since 2020. Coinbase, the large cryptocurrency exchange, tanked in value. A cryptocurrency that promoted itself as a stable means of exchange collapsed. And more than $300 billion was wiped out by a crash in cryptocurrency prices since Monday. The crypto world went into a full meltdown this week in a sell-off that graphically illustrated the risks of the experimental and unregulated digital currencies. Even as celebrities such as Kim Kardashian and tech moguls like Elon Musk have talked up crypto, the accelerating declines of virtual currencies like bitcoin and ether show that, in some cases, two years of financial gains can disappear overnight. The moment of panic amounted to the worst reset in cryptocurrencies since bitcoin plummeted 80% in 2018. But this time, the falling prices have broader impact because more people and institutions hold the currencies. Critics said the collapse was long overdue, while some traders compared the alarm and fear to the start of the 2008 financial crisis.