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Coinbase customers will be able to buy NFTs, trade on decentralized exchanges, and borrow and lend on multiple DeFi platforms as a result of the shift.

Bitcoin has failed as an inflation hedge in recent weeks due to inflation fears and bad macroeconomic mood.

The most speculative and leveraged parts of the crypto markets are now under scrutiny, according to the bank's analysts.

Goldman Sachs' global head of digital assets said that institutional demand for cryptocurrencies is increasing, and that the bank has been 'actively widening' its market capabilities to meet that demand.

'Keep in mind that your bitcoin losses cannot be credited against your pay or compensation,' stated ATO associate commissioner Tim Loh.

Coincryptous.com reported seven days ago that the Tron DAO Reserve has purchased $38 million in tron to protect the network's stablecoin USDD. The Tron DAO Reserve has continued to buy substantial amounts of digital assets to increase the project's reserves since then and following the terrausd (UST) de-pegging event. The organization has been adding stablecoins and bitcoin to the mix in addition to tron purchases.

Lloyd Blankfein, the former CEO of Goldman Sachs, has advised that businesses and consumers in the United States should prepare for a downturn. He emphasized that the risk is 'extremely high.'

'The same pattern has recently played out in crypto, only there's no substantial asset at the bottom of it like housing.'

The income disparity, technological stress, and overuse of jargon all contribute to a lack of financial and crypto literacy, which makes it difficult for the average person to understand cryptocurrency.