Coinbase pops 17% as cryptocurrencies like bitcoin and ether rally

Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, on Wednesday, April 14, 2021.

Cryptocurrencies like bitcoin and ether gained in value.

The world's largest digital currency was trading at $22,269, up around 6 percent. The price of ether jumped roughly 10%.

According to CoinMarketCap data, about 30% of the trading volume is for ether.

Tech stocks are mostly in the green on Monday as investors bet that the Federal Reserve will be less aggressive against inflation than they had thought. That could be giving the shares more steam. The company's stock is down 75% for the year and off about 83% from the high it reached in November.

An internal email from the company said the company is laying off 18% of its employees.

During a bull market, the CEO warned that the company grew too quickly and needed to increase efficiency. He said that there could be a decline in trading activity during the winter.

The economy appears to be entering a recession after a decade of growth. It could last for an extended period if there is a recession. We always plan for the worst so that we can operate through any environment.