Digital Assets
Crypto kicks off 2023 with immediate action: Coinbase, $BONK and crypto-related stocks rallies
By Victor Lei
How’d crypto perform last year?
- Bitcoin is down 64%.
- Ethereum is down 67%.
In comparison, the tech-heavy Nasdaq index saw a decline of 33%. After everything that happened in crypto last year, it’s honestly surprising that prices haven’t suffered more.
But crypto’s as resilient as Kenny; no matter how many times you try killing ‘em… just keeps on coming back.
The industry started 2023 with some immediate action:
- Coinbase (NASDAQ:COIN) settled with the New York state regulators for $100M — sending its stock up 12%.
- Beaten-down crypto stocks like Marathon Digital (NASDAQ:MARA) and Silvergate (NYSE:SI) also jumped 24% and 27%, respectively.
- Knockoff Dogecoin Bonk jumped nearly 10x to start the year (another pump and dump?).
“ChatGPT: Write the code for a new meme coin, name it and create a website.”
The result:
