Crypto kicks off 2023 with immediate action: Coinbase, $BONK and crypto-related stocks rallies

How’d crypto perform last year?

• Bitcoin ($BTC) is down 64%.
• Ethereum ($ETH) is down 67%.

In comparison, the tech-heavy Nasdaq index saw a decline of 33%. After everything that happened in crypto last year, it’s honestly surprising that prices haven’t suffered more.

But crypto’s as resilient as Kenny; no matter how many times you try killing ‘em… just keeps on coming back.

The industry started 2023 with some immediate action:

• Coinbase (NASDAQ:COIN) settled with the New York state regulators for $100M — sending its stock up 12%.
• Beaten-down crypto stocks like Marathon Digital (NASDAQ:MARA) and Silvergate (NYSE:SI) also jumped 24% and 27%, respectively.
• Knockoff Dogecoin Bonk ($BONK) jumped nearly 10x to start the year (another pump and dump?).

“ChatGPT: Write the code for a new meme coin, name it and create a website.”

The result: