Balance Sheet of Cryptocurrency Exchange Coinbase Announced! Here is the Expected Critical Data

Coinbase Q4 Revenue was announced as $629.1 million, an estimated $581.1 million.

Coinbase shares jumped 7% on revenue growth.

This is due to CEO Brian Armstrong’s agreement with US regulators. cryptocurrency emerged as a fierce battle over the storage, staking, and security of stablecoins created an area of ​​uncertainty that threatened to drain the company’s coffers.

Coinbase’s reliance on trading fees has been its weak spot, forcing the company to explore new revenue streams to weather the regulatory storm.

However, with Coinbase having $5 billion in cash and equivalents by the end of September, it could allow it to weather the cryptocurrency winter.

Coinbase shares started 2023 on a fast track, gaining more than 80% by Friday’s close. But over the past year, the stock has lost about two-thirds of its value.

Coinbase is grappling with the consequences of last year’s crypto crash, which has become an industry-wide issue as to whether customers can trust said platforms with their coins. Total assets of the platform were expected to reach $88.8 billion, the lowest amount in the previous two years.

Last week, analysts at JPMorgan and DA Davidson revised their forecasts for Coinbase’s non-commercial businesses, subscriptions, and services specifically, including crypto staking and custody services. DA Davidson also downgraded Coinbase’s stock from Buy to Neutral.

The SEC’s recent enforcement actions have raised questions about whether Coinbase’s staking and custody businesses are under threat.

Coinbase has laid off 2,110 employees since June 2022, after spending over $1 billion in the first half of 2022.

*Not investment advice.