Brian Armstrong, CEO of Coinbase, one of the largest cryptocurrency exchanges in the USA, said that the revenues of the cryptocurrency exchange will be halved or more this year, in the environment of trust shaken after the FTX bankruptcy.He stated that he might.
Bloomberg’s December 7 According to the news he published on , Coinbase CEO Armstrong announced that the crypto money exchange FTX, which declared bankruptcy last month, is an investor and customer in the market. shaken your confidence and your revenues this year compared to last year expect it to decrease by half. explained. Mentioning the FTX bankruptcy as a great misfortune for the industry, the CEO also claimed that this situation also affected their relations with regulators.
Armstrong in 2021 approx. 7 billion dollars income and approx. $4 billion positive EBITDA (earnings before interest, taxes, depreciation and amortization) He stated that they have earned their income and that this year they expect their revenues to decrease by about half. Coinbase share price confirms the CEO’s words this year to 80% lost value close.
Armstrong stated that they will continue to work even though Sam Bankman-Fried has damaged the reputation of the crypto money market in the eyes of the public. About the US Congress 20% of against cryptocurrency markets unfriendly showing an attitude or just very ignorant Expressing that he is in the middle of nowhere, the CEO said that the majority is more moderate towards the crypto money markets. After achieving the achievements that CEO targets are targeting in the US, other G20 He said he wanted to work on their country.