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TheBlock 2022-08-10 11:58:08

Commentary on Coinbase’s Q2’22 Earnings

Quick TakeTrading closed down (11%) at $87.68 / share and slumped another (5%) to 82.90 / share in afterhours trading Reported $808mm total revenue, ($4.95) EPS, $217bn Trading Volume and ($1.1bn) Net IncomeReflects a (7.5%), (100%) miss, +0.41% beat and (102%) miss respectively+48% rally last week from Coinbase x Blackrock partnership announcement June 14, 2022 announced internal restructuring plan 1,100 FTE dismissals, an (18%) company wide reduction in FTE count as of June 10, 2022June 2022 indictment against former Coinbase Product Manager Ishah Wahi and related parties for front running digital assetsAugust 2022 lawsuits launched against Coinbase regarding business practices and disclosure surrounding digital assets requiring Security & Exchange Commission (SEC) registration as securities

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