126 sats \ 1 reply \ @ken 10 Aug 2022
Coinbase is a shitcoin casino!
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Agreed.
#DELETECOINBASE
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So sad. Coinbase bought so many people into the space and it’s come to this.
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See original article here. The main post link is using archive.ph, so you can skip the paywall.
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Revenue declined to $808.3 million, missing the $854.8 million estimate from analysts polled by Bloomberg. Monthly transacting users dropped to 9 million in the second quarter, a 2% decline from prior quarter.
Coinbase lost $1.1 billion in the three months ended June 30, including a $446 million non-cash impairment charges related to investments and ventures.
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3 more months and they're in bankruptcy! LFG!!!
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Hah, ... they've got like $5B in cash, and the $446 in non-cash impairment losses is probably not going to recur (assuming crypto has "bottomed").
They're a shitty organization but investors keep tossing them gobs of cash, how much further can they F it up?
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Coinbase's Q2 report can be downloaded here:
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