It’s not just crypto that’s struggling — Netflix, Uber and other companies are warning of hard times ahead and preparing for the worst

It’s not just crypto that’s struggling — Netflix, Uber and other companies are warning of hard times ahead and preparing for the worst

Bitcoin appears to be in a tailspin, but Coinbase's share price is faring even worse. Even as the flagship cryptocurrency has shed 20% of its value in the past week, the leading marketplace for digital assets has been nearly halved. "I think it's worth just addressing the elephant in the room, which is that, of course, the broader markets are down," on Wednesday. "We're seeing a down market for growth tech stocks and risk assets." In its guidance, the company said it is expecting a "prolonged and stressful scenario" for the remainder of the year. It's a cautionary tone that many corporate leaders are expressing in memos and earnings calls in recent weeks, as the bite of inflation, rising rates, war in Eastern Europe, and a slowdown in China mix into a grim economic brew. "In times of uncertainty, investors look for safety," Uber CEO Dara Khosrowshahi wrote in a memo to employees a week after Uber reported a first-quarter loss of $5.9 billion. But the market right now appears to offer little in the way of safe quarter. Whereas investors might have previously moved between stocks, bonds, or currencies to protect their wealth, all three categories appear to be