The current and still ongoing crypto winter affects institutions as well as investors.
While it was seen that many stock markets made layoffs in this period, Terra’s collapse in the past months brought companies with exposure to this place to the point of bankruptcy.
Both the uncertainty in the macro economy and the extra collapse of the crypto market went so far that many exchanges stopped shooting.
Even exchanges such as Coinbase, which are among the largest in the world, started to lay off thousands of their employees.
With the announcement of the Coinbase balance sheet, the loss was actually seen clearly.
The expected revenue on the Coinbase side was $854 million, while the actual revenue was announced as $803 million.
The revenue, which was announced as 1 billion 173 million dollars in the previous quarter, thus decreased by 30 percent in the second quarter.
In line with these data, the company announced its net loss as $ 1.1 billion, while it was stated that this decline was caused by the serious decline in the crypto money market.
Looking at the trading volume side, it is seen that there is a 30 percent decline in the platform.
Coinbase stock, which was listed on the US stock market last year, peaked at $ 430. However, the share price is currently at $87.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!