Hi HODLers,
After trading hours, Coinbase published its Q3 results:
Coinbase reported net revenue of $576 million for the third quarter on Thursday, down 28% from $803 million the previous quarter.
Compared to previous quarter:
- Transaction Users dropped 7%
- Volume dropped by 27%
- Value of assets on the Coinbase platform grew by 4%
The numbers were notgreat as expected but I believe they might be better than what investors expected.
In addition, the company emphasized that institutions are coming as they recently made deals with BlackRock and Google. They also claim that 25% of the top 100 hedge funds are Coinbase customers!
I am the biggest Coinbase fan? Definitely not. Nevertheless they are at the forefront of the legal fights against SEC or other governments trying to bully the Crypto Industry and I kind of admire them for this.
Stay safe out there,
Source: Coinbase Revenue Down 28% as Trading Volume Sinks Amid Brutal Bear Market
Stay safe out there,