A few days ago, Coinbase (COIN.O) announced that it will extend the recruitment freeze and withdraw some offers for the foreseeable future.
Stephen Glagola, an analyst at Wall Street asset management firm Cowen, said in a note that the firm ended the first quarter with $6.3 billion in liquidity and that he believes Coinbase is still well-capitalized to weather the crypto winter.
Glagola has an outperform rating on Coinbase stock with an $85 price target.
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