Coinbase Expects 2022 Revenue To Be 50% Lower Than 2021 – Crypto News – Crypto News
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Coinbase Expects 2022 Revenue To Be 50% Lower Than 2021 Coinbase Expects 2022 Revenue To Be 50% Lower Than 2021

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Coinbase Expects 2022 Revenue To Be 50% Lower Than 2021 – Crypto News

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3 years ago

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Leading cryptocurrency exchange Coinbase anticipates a sharp decline in revenue this year. As a result of falling prices and the collapse of a competing exchange FTX, investors’ confidence has been shaken, according to Coinbase CEO Brian Armstrong. This could result in a revenue decrease of almost 50% or more in 2022 compared to the previous year.

The sudden demise of the FTX empire brought an end to what was already a terrible year for the cryptocurrency market, with investors fleeing as the prices of some of the most actively traded tokens fell.

Shares of Coinbase have lost more than 80% of their value in 2022, and the company’s third-quarter revenue is only one-fourth of what it had been in the last three months of 2021, when Bitcoin reached its all-time high.

This is a developing story and is being updated frequently.

Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has seen it all.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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