0 sats \ 3 replies \ @cryptocoin OP 9 Aug 2022 \ on: Coinbase Q2: $1.1 billion loss and lower-than-expected revenue bitcoin
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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25 sats \ 1 reply \ @DeezSats 10 Aug 2022
3 more months and they're in bankruptcy! LFG!!!
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10 sats \ 0 replies \ @cryptocoin OP 10 Aug 2022
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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0 sats \ 0 replies \ @cryptocoin OP 9 Aug 2022
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
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