Per the report, this comes after a tumultuous period for the company and the cryptocurrency industry as a whole:
The report cites the recent collapse of “crypto friendly banks such as Silvergate and Signature” and regulatory scrutiny surrounding FTX’s “dramatic decline” as mitigating factors for the earnings, indicating profits may have been diminished by the looming spectre of government oversight.
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Digital asset market shrinks as fund outflows reach $200M: CoinSharesNegative sentiment surrounding Bitcoin and crypto led to another week of large outflows from digital asset investment products, according to CoinShares.
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