Coinbase CEO Brad Armstrong made the decision based on uncertain economic conditions.
"We appear to be entering a recession after a 10+ year economic boom," Coinbase CEO Brian Armstrong wrote in a blog post on Tuesday.
"A recession could lead to another crypto winter, and could last for an extended period. In past crypto winters, trading revenue has declined significantly. While it’s hard to predict the economy or the markets, we always plan for the worst so we can operate the business through any environment."
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