S&P Global downgrades Coinbase credit rating for weak Q2 earnings, competitive pressures
Major American cryptocurrency exchange Coinbase saw its long-term issuer credit rating downgraded from BB+ to BB status by rating agency S&P Global following its latest earnings report this year. The agency confirmed the downgrade in a note on Aug. 11, pointing toward Coinbase’s weaker performance in the second quarter of 2022 as a driving factor. […]
Moody’s downgrades Coinbase due to bear: Warns it may not be the last
Credit ratings agency Moody’s has downgraded the Corporate Family Rating (CFR) and guaranteed senior unsecured notes of crypto exchange Coinbase, and stated that both ratings have been placed under review for further downgrade. The CFR, a rating assigned to reflect Moody’s opinion of a company’s ability to honor its financial obligations, was downgraded from Ba2 […]
El Salvador's credit rating could take hit amid Bitcoin adoption warns S&P Global
Credit rating agency Standard and Poor (S&P) Global believes the country of El Salvador has severely harmed its credit rating after enacting its Bitcoin Law recognizing BTC as legal tender nationwide on Sept. 7. According to a Sept. 16 report from Reuters, El Salvador’s Bitcoin embrace exposes its economy to significant financial risks and could […]