Cryptocurrency exchange Coinbase, which has come to the fore with the claim that it will buy BtcTurk for over 3 billion dollars in the past days, shared its financial status report for the first quarter of 2022.
The US-based stock market was declared a publicly traded company in the first quarter of this year. its first net loss of $430 million as reported. Total revenue was $1.6 billion in the first quarter of 2021, down 27 percent to $1.17 billion this quarter. While the number of monthly users decreased to 9.2 million, the total transaction volume decreased to 309 billion.
Crypto phone call from Coinbase CEO to Apple!
Coinbase CEO made statements about Coinbase-Apple relations in a podcast he attended and addressed Apple.
Coinbase CEO: Reserve Bank of India is applying pressure
Coinbase CEO Brian Armstrong mentioned in his earnings report statement that the exchange is having a tough time in India. As it will be remembered, the firm started operating in the country on April 7, but a short time later, it suspended its Unified Payments Interface (UPI) support and terminated its crypto trading operations.
By Brian Armstrong, Reserve Bank of India that they were unofficially oppressed and therefore they had to disable the UPI. However, he pointed out that the legal status of cryptocurrencies in the country is still unclear, saying:
There are structures within the Government, including the Reserve Bank of India, that are not so positive about this issue. In the press this is called ‘shadow banning’. Basically, they want to disable some of the payment services that can go through the UPI by applying soft pressure in the background.
Brian Armstrong, CEO of Coinbase
Brian Armstrong stated that they continue to work with the Reserve Bank of India and hope to re-launch Coinbase in the country with additional payment options in the near future.
Bitcoin continues to fall sharply
The popular cryptocurrency Bitcoin has seen its lowest level in recent times, falling to $ 30 thousand. BTC, which broke a record by rising to $ 69 thousand in November of 2021, has lost 50 percent of its value since then. Today, on May 11, it is trading at $ 30,800 according to CoinMarketCap data.
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