Coinbase in trouble...more bad crypto news

MinnesotaFats · Aug 9, 2022

Coinbase's revenue declined almost 64% in the quarter as cryptocurrency prices fell.

www.cnbc.com

Horrible results. I know there's resistance at $20k+ but my god

venditto · Aug 9, 2022

Overvalued companies can lose money this is not a surprise

MinnesotaFats · Aug 9, 2022

venditto said:
Overvalued companies can lose money this is not a surprise

They lost over $4/ share as an exchange/ wallet.... think about that.

They don't have a brick & mortar presence

Bond Guy · Aug 10, 2022

That's too bad.

pipe · Aug 10, 2022

Ouch!!

milwaukee mike · Aug 10, 2022

and the stock is up today

around 15 pts higher than it was last night lol

Tanko · Aug 10, 2022

So the biggest chunk of the loss was a result of their own Crypto holdings that lost value in this quarter. I'm not surprised.

Tanko · Aug 10, 2022

milwaukee mike said:
and the stock is up today

around 15 pts higher than it was last night lol

BTC is up 4% from the time this news came out yesterday.

MinnesotaFats · Aug 10, 2022

Tanko said:
BTC is up 4% from the time this news came out yesterday.

It's no longer decentralized.

Market up, Bitcoin up