Coinbase Confirms Half-Year or Worse Revenue Drop Due to Crypto Market Crash

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Due to the failure of FTX, the cryptocurrency market is in a rough spot. Brian Armstrong In a meeting with David Rubenstein claimed that coinbase estimates the FY2022 revenue less than that of the FY2021 revenue.


When questioned about his company's revenue, Armstrong said that in 2021 they earned approximately $7 billion in sales and about $4 billion in positive EBITDA, but that this year, with things slowing down, it's looking like about half that or less.


Coinbase said earlier that the firm may incur a loss of $500 million in 2022. The business has not previously issued a full-year prediction for overall revenue, but Armstrong’s estimate was in line with analysts’ expectations of approximately $3.2 billion.


In 2022, Coinbase’s shares plunged more than 80%, and the company’s third-quarter revenue was a fourth of what it was in the final three months of 2021.


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Crypto

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