Cryptocurrency News

Coinbase posts $1.1B loss in Q2 on ‘fast and furious’ crypto downturn

08/11/2022

Less than a minute

2022.08.11 18:22

Coinbase posts $1.1B loss in Q2 on ‘fast and furious’ crypto downturn

Crypto exchange giant Coinbase (NASDAQ:COIN) has cited a “fast and furious” downturn of the crypto markets as the reasons behind a staggering $1.1 billion net loss in the second quarter of 2022, which also saw trading volume and transaction revenue tumbling.

It’s the second consecutive quarter of loss for the crypto company and the largest loss since its listing on the Nasdaq Stock Exchange (Nasdaq) in April 2021.

08/11/2022

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