Coinbase CEO has ‘never been more bullish’ even after $430M Q1 loss
“There are so many customers beating a path to our door that we have to have all hands on deck just to keep everything running,” Coinbase CEO Brian Armstrong explained on earnings call. Cryptocurrency exchange Coinbase 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....
Related News
U.S.-based crypto exchange Coinbase ranked 437th on the elusive Fortune leaderboard, while Sam Bankman-Fried was highlighted by TIME magazine in the innovation category. In an industry milestone, cryptocurrency exchange Coinbase has become the first corporation within the crypto and blockchain space to be featured on the prominent Fortune 500 list.A 68-year-old annual tradition, the Fortune 500 list is synonymous with ranking the leading corporations in the United States by total revenue, as well as other quantifiable metrics such as percentage profit margins, assets and the number of....
San Francisco-based Coinbase has published an interesting blog post on Wednesday, which essentially serves a means of comforting its users. In short: the company announced that it holds insurance against both theft and loss of the bitcoin they hold - much of which belongs to its over one million users. Interestingly enough, however, they say that they have been insured since November of 2013, adding that "given the recent claims of insurance in the industry," felt it appropriate to inform its user base. They write: Coinbase is insured against theft and hacking in an amount that exceeds the....
Crypto exchange Coinbase disclosed a $1.1 billion loss on revenue of $803 million in the second quarter, a bigger-than-anticipated loss as investors apprehensive about this year’s volatility in assets avoided trading in cryptocurrencies. Both numbers fell short of analysts’ forecasts and are below what the company reported in the first three months of the year. […]
KeyVendor.net, a bot for trading bitcoin keys used by the Steam entertainment platform, was not able to pay some customers their bitcoin a few days ago on account of a glitch at Coinbase, according to a notice KeyVendor posted on steamcommunity.com. The problem has been resolved, and KeyVendor paid everyone their missing bitcoin an extra 10% for the inconvenience, totaling about $210 extra. Coinbase was exploited and keys and bitcoin were stolen from the KeyVendor bot, totaling $15,000. Coinbase handled the problem within two days, according to Key.Vendor.net. Coinbase Took Responsibility.....
CoinDesk has reached out to Coinbase for clarification on whether the company's policy excludes bitcoin held in cold storage (offline wallets). Coinbase has revealed that its users' online wallets are being insured through top broker Aon. The news came in a surprise blog post in which the company announced it has been insured against the theft or loss of bitcoin since November 2013, stressing that its users are not being charged for the cover. The wallet and merchant services provider said it teamed up with Aon, one of the world's largest insurance brokers, to further protect its users'....