Crypto’s Charm is Over the ‘Big Apple’ as New Yorkers Own Them

coinbase logo visible through the magnifying glass over a display showing reports

Coinbase, a well-known platform for cryptocurrencies, has unveiled the latest installment of its report series, shedding light on the advancements in crypto innovation occurring at the state level in the United States. The focus of this edition is the state of New York, showcasing a range of noteworthy achievements that underscore the state's enthusiastic adoption of cryptocurrencies.

According to the report, 19% of surveyed New York residents are proud cryptocurrency owners, reflecting the growing trend of digital asset ownership. Impressively, a significant one-third of individuals from New York believe that cryptocurrencies contribute to a more equitable financial system and view them as a promising investment for the times ahead.

Moreover, the Coinbase report emphasizes the burgeoning interest in crypto within New York, leading the state to evolve into a hub for projects centered around blockchain technology. 

A staggering 692 blockchain organizations and an impressive cohort of over 800 founders have chosen New York as their base of operations, a testament to the state's role in fostering blockchain-driven initiatives.

The findings in the survey in the region are amid the circumstances when the United States has not put any clarity on cryptocurrency regulations. Moreover, the stringent regulatory actions taken up in the past several months against the crypto companies and related entities raised concerns. 

Leading crypto exchanges Binance and Coinbase were charged by the United States Securities and Exchange Commission (SEC) in June this year. The regulator charged the exchange platforms for offering unregistered securities. 

Though the instance was expected to put a scar on the shining financial asset class, the crypto industry hardly took it. Major cryptocurrencies dropped for a while but they soon got back on track. 

Coinbase Global Inc (NASDAQ: COIN) is a publicly traded crypto exchange firm, COIN stock price saw a rise of over 100% since the case filing. The stock price obtained a 52-week high at $110. Currently it is trading at $85.5 expereincing a 2.8% drop. 

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