Bitcoin Slump Erodes Fortunes of Would-Be Miners in Thailand [Business News Network (BNN) (Canada)]
Coinbase Global, Inc. - Class A (COIN)
US:NASDAQ Investor Relations:
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Company Research
Source: Business News Network
The telecom-turned-crypto company has lost more than a third of its value in the past month, cutting its market capitalization to 260 billion baht ($7.6 billion). That tumble also pared the wealth of its seven biggest individual shareholders, who had enjoyed earlier gains after the firm unveiled a plan in July to expand into Bitcoin mining. “The only frenzy has been from the company's claim to be the pioneer of the Bitcoin-mining business in the country and region,” said Jitra Amornthum, an analyst at Finansia Syrus Securities Pcl. “That appeal has evaporated with the slide in Bitcoin.” The Securities & Exchange Commission in February urged Jasmine Technology's shareholders to make a “careful study and decision” of an independent financial adviser's call to reject the company's mining plan. The investment was ultimately approved in spite of the recommendation. Recent downturns in crypto exchanges and currencies including Bitcoin highlight the vulnerability of new fortunes, such
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COIN
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- 2/15/24 - Beat
COIN
Sec Filings
- 4/25/24 - Form 4
- 4/25/24 - Form ARS
- 4/25/24 - Form DEF
- COIN's page on the SEC website