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Crypto winter has had a chilling effect on Coinbase and Robinhood

By Paul R. La Monica, CNN Business The prices of bitcoin and other top cryptocurrencies have been more than cut in half this year. Now the great crypto crash of 2022 is crushing leading digital asset brokerage firms Coinbase and Robinhood too. Shares of Coinbase have lost nearly three-quarters of their value in 2022, and fell more than 10% Monday after Goldman Sachs analyst Will Nance slashed his rating on the company to a rare ‘sell.’ Nance attributed the downgrade to ‘the continued downdraft in crypto prices and the resulting fall in industry activity levels.