As quoted on Bloomberg, its CEO noted that the company needs to adjust it business plan away from betting on continual growth in crypto prices and a guaranteed steady increase in numbers of customers. As Coinbase makes adjustments, crypto winter drives changes in crypto business plans far and wide.
Now we see that Coinbase has settled with New York State authorities over concerns that they did not conduct background checks on their customers in compliance with anti-money laundering laws.
These sorts of bad headline news about the crypto world have also tarnished the reputation of the emerging world of decentralized finance and hastened the likely introduction of regulations across the crypto world including the world of DeFi. That having been said, how will crypto regulation affect decentralized finance?
The bottom fell out of the big tech sector this year and Amazon.com made history as the first company to lose $1 trillion in market cap. The mix of Microsoft, Apple, Amazon, Tesla and Alphabet lost $3.4 trillion in market cap during 2022. Will big tech make a comeback in 2023?
Thus, there may be very little correlation between one stock and the next. So, why is there so much crypto to crypto correlation? How should you pursue crypto investments with this realization in mind?