Coinbase CFO Alesia Has says crypto faces macro headwinds, but tailwinds persist

Coinbase CFO Alesia Has said Wednesday that the cryptocurrency space is facing broad macroeconomic headwinds like rising interest rates and surging inflation, though "we see lots of tailwinds" evolving. Has noted that bitcoin's (BTC-USD) roughly 50% drawdown from its November 2021 peak isn't anything new, citing four similar-sized contractions since bitcoin's creation in 2009. "The front key difference that we have not seen before is the broader macro environment. So, this is the first broader macro change since crypto was adopted, meaning we now have high interest rates, higher inflation. And so while those may be headwinds, at the same time we see lots of tailwinds, which there are millions of crypto users, we've seen broad institutional adoption since the last crypto price cycle, we have broader utility in crypto -- broader product suites -- and many many more companies offer crypto," Has explained. "So we have positives and we have negatives,