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.
Coinbase is a shitcoin casino!
Agreed.
#DELETECOINBASE
So sad. Coinbase bought so many people into the space and it’s come to this.
See original article here. The main post link is using archive.ph, so you can skip the paywall.
3 more months and they're in bankruptcy! LFG!!!
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?
Coinbase's Q2 report can be downloaded here:
Second Quarter 2022 - Shareholder Letter
https://s27.q4cdn.com/397450999/files/doc_financials/2022/q2/Q2-2022-Shareholder-Letter.pdf