Cryptocurrency News
Coinbase CEO has ‘never been more bullish’ even after $430M Q1 loss
2022.05.11 06:55
Coinbase CEO has ‘never been more bullish’ even after $430M Q1 loss
Cryptocurrency exchange Coinbase (NASDAQ:COIN) has disclosed its first net loss as a public company of $430 million in Q1, but CEO Brian Armstrong said on an earnings call that he’s “never been more bullish on where we are as a company.”
In its first quarter 2022 report Coinbase disclosed that revenue had dropped 27% to $1.17 billion, down from $1.6 billion in the first quarter of 2021 and a long way off its Q4 2021 revenue of $2.5 billion. Monthly transacting users also dropped by over 19% to 9.2 million, from last quarter’s 11.4 million.
