The Looming Denouement
COIN
-8.90%
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HOOD
-3.70%
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Clearly this FTX saga is not over. I’m still amazed that, last week, people bid the FTX token up by about 200%, only to see it erased. Until this thing is $0.00, the SBF saga grinds on.
FTX Chart
And, once the other shoe drops, my view is that these two equities are in even worse trouble than they already are: Coinbase (NASDAQ:COIN) and Robinhood (NASDAQ:HOOD).
Coinbase
COIN (Coinbase) Chart
Robinhood
HOOD (Robinhood) Chart
In the meanwhile, the crypto space seems to have achieved a temporary perfect equilibrium, and it’s like prices have reached a state of absolute zero. Nothing’s moving anymore.
Bitcoin (BTC) Chart
