Coinbase lost 1.1 Billion in Q2

Pekelo

Pekelo

This is good for Bitcoin!

https://www.cnbc.com/2022/08/09/coinbase-coin-earnings-q2-2022.html

Here’s how the company did:

  • Earnings: Loss of $4.98 per share, vs. loss of $2.65 per share as expected by analysts, according to Refinitiv.
  • Revenue: $808.3 million, vs. $832.2 million as expected by analysts, according to Refinitiv.

Coinbase’s revenue declined nearly 64% as investors exited the crypto market after last year’s dramatic run. Retail transaction revenue came in at $616.2 million, down 66% and below the $667.1 million consensus among analysts polled by StreetAccount.

Coinbase reported a $1.1 billion net loss, compared with $1.59 billion in net income in the same quarter last year,

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How does a casino lose money?

"They are posting huge losses just with a down market irrespective of the fact they make money both up and down, it’s just trading fees
For a broker to post such losses is insane"

"When you borrow against that casino to build another casino and your payments are more than your profit."

"As Jim Chanos pointed out on the Crypto Critics podcast Coinbase is crushed by fee compression and declining book/trade value. And their fees are still high compared to traffi.
 
Last edited:
Pekelo said:
"As Jim Chanos pointed out on the Crypto Critics podcast Coinbase is crushed by fee compression and declining book/trade value. And their fees are still high compared to traffi.
More...

That's just a part of it.

Shitty exchange, and always has been.
it's comical that it is one of the major CEXs out there with the most global access, along with significant financial and regulatory status.

They are probably embezzling money out of the entity. The CEO/founder did dump the COIN equity without hesitation onto the investors heads
 
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