News10 August

Coinbase made a $1 billion loss

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For the second quarter of 2022, the largest crypto exchange in the US suffered a $1.1 billion loss. This is the second straight unprofitable quarter

Coinbase reported its earnings in June, which surprised its investors. The general market conditions and active bear market were selected as unprofitable time reasons. 

And in the end, the Coinbase team convinced investors that they had no serious problems and that it would focus on consolidation to ensure the prospects of the business had changed for the better.

Unfortunately, the latest report showed the company had experienced its most significant losses since going public on the NASDAQ. However, Coinbase has some good results too. The fees from subscriptions and services have been up 44% since the start of the financial year, indicating an opportunity to live with less dependence on external factors.

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