• Latest
  • Trending
Coinbase’s numbers aren’t surprising due to crypto winter, says CoinFlip’s CEO

Coinbase’s numbers aren’t surprising due to crypto winter, says CoinFlip’s CEO

August 19, 2022

PR NEWS WIRES – Step-by-step instructions to Compose Press Releases That Work And Get Free Exposure

November 29, 2022

PR Wires – High-level PR – Getting Your Press Release to Someone Who Cares

November 28, 2022
PR Wires – Involving a Press Release Administration as a Type of External link establishment

The One Press Release Pricing Tip You Shouldn’t Be Without

November 26, 2022
Press Release and Press Pack Fixings

Several Tips for Writing Effective Press Releases

November 25, 2022

Five Stage Manual for Power Press Release Benefits

November 25, 2022
Write a Press Release for Your Business

Startling Facts About PRWeb Pricing That You Never Knew

November 25, 2022

PR Wires – Involving a Press Release Administration as a Type of External link establishment

November 25, 2022
Must Haves in a Social Media Press Release

The Little Known Benefits of Video Press Release Service

November 24, 2022

PR Wires – The Do’s and Don’ts of Composing A Press Release

November 24, 2022
PR Wires – Making a Press Release Site With A Press Release Content

Must Haves in a Social Media Press Release

November 23, 2022

PR Wires – Making a Press Release Site With A Press Release Content

November 23, 2022

Instructions to Compose and Submit Online Press Releases Like an Expert

November 22, 2022
  • About us
  • Advertise With Us
  • Become a Contributor
  • Guest Posting Service
  • Privacy Policy
  • Submit Press Release
  • Contact
  • Terms & Conditions
Tuesday, January 24, 2023
Latest News and Updates on Cryptocurrency
  • Login
  • Home
  • Market
    • Analysis
    • Guide
  • Binance
  • Bitcoin
  • Blockchain
  • Coinbase
  • Crypto
    • Crypto Exchange
  • Ethereum
  • Finance
  • Litecoin
  • Ripple
  • Tether
No Result
View All Result
Latest News and Updates on Cryptocurrency
No Result
View All Result

Coinbase’s numbers aren’t surprising due to crypto winter, says CoinFlip’s CEO

by
August 19, 2022
in Uncategorized
374 24
0
Coinbase’s numbers aren’t surprising due to crypto winter, says CoinFlip’s CEO

Cryptocurrency exchange Coinbase recorded huge losses in the last quarter as the bear market continues to affect businesses in the crypto space.

Coinbase, one of the leading crypto exchanges in the world, reported its second-quarter earnings earlier this week. The exchange’s revenue declined by 61% in the last quarter as the prices of most cryptocurrencies slumped. 

YOU MAY ALSO LIKE

PR NEWS WIRES – Step-by-step instructions to Compose Press Releases That Work And Get Free Exposure

PR Wires – High-level PR – Getting Your Press Release to Someone Who Cares

The San Francisco-founded company reported an after-tax loss of $1.1bn, compared with the $1.6bn net profit it registered in the middle of the crypto boom last year. The company reported that $446 million of the loss reflected an impairment charge on its crypto and venture investments.

Coinbase’s Chief financial officer Alesia Haas however, commented that the company’s $6.2bn in available capital would enable it to keep investing through the downturn.

Ben Weiss, CEO and Co-founder of CoinFlip, shared his comments with Coinjournal regarding Coinbase’s latest earnings report. CoinFlip is a financial service and crypto platform and is one of the largest Bitcoin ATM operators in the United States.

Weiss said;

“Coinbase’s numbers aren’t surprising given the current economic climate and crypto winter. That being said, Coinbase is responding by imposing financial discipline and refocusing on its core products. Despite volume and revenue declining, Coinbase is still attracting a significant amount of users, which shows its staying power, brand recognition, and likely ability to capitalize when crypto prices recover. The shareholder letter shows management’s confidence in the future of crypto and the company’s commitment to continue building regardless of prices and short-term economic trends.”

Despite the poor performance, Weiss maintains that the decline in Coinbase’s stock is an overreaction, and the cryptocurrency exchange remains a household name in the crypto space. Weiss said;

“The crypto market has seen a lot of volatility, deleveraging, and downward pressure on crypto asset prices. This is obviously going to have a negative impact on the valuation of crypto companies, such as Coinbase. I feel that the market is conflating the performance of crypto assets with the companies in the crypto ecosystem, and therefore the reduction in Coinbase stock price is possibly an overcorrection. Coinbase is a leader in the space with strong brand recognition, and its business model is much more robust than some of the problematic business models we’ve been hearing about – such as centralized crypto lending companies.”

The bear market continues to affect the operations of numerous cryptocurrency businesses, with some of them filing for bankruptcy while others halted withdrawals on their platforms.

The post Coinbase’s numbers aren’t surprising due to crypto winter, says CoinFlip’s CEO appeared first on CoinJournal.

source

Share219Tweet137Share55

Search

No Result
View All Result

Recent News

PR NEWS WIRES – Step-by-step instructions to Compose Press Releases That Work And Get Free Exposure

November 29, 2022

PR Wires – High-level PR – Getting Your Press Release to Someone Who Cares

November 28, 2022
PR Wires – Involving a Press Release Administration as a Type of External link establishment

The One Press Release Pricing Tip You Shouldn’t Be Without

November 26, 2022
Latest News and Updates on Cryptocurrency

Get the latest news on Cryptocurrency and stay up-to-date ... Cryptocurrency prices today

Recent News

  • PR NEWS WIRES – Step-by-step instructions to Compose Press Releases That Work And Get Free Exposure
  • PR Wires – High-level PR – Getting Your Press Release to Someone Who Cares
  • The One Press Release Pricing Tip You Shouldn’t Be Without

Crypto Update

  • Crypto Exchange
  • Analysis
  • Bitcoin
  • Finance
  • Guide
  • Market
  • About
  • advertise
  • Privacy & Policy
  • Contact Us

© 2022 Cryptoandcream.com

No Result
View All Result
  • Home
  • Market
    • Analysis
    • Guide
  • Binance
  • Bitcoin
  • Blockchain
  • Coinbase
  • Crypto
    • Crypto Exchange
  • Ethereum
  • Finance
  • Litecoin
  • Ripple
  • Tether

© 2022 Cryptoandcream.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In