CryptoMediaClub
Tuesday, July 8, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Coinbase Posts $79M Net Loss But Beats Expectations

05.05.2023
A A
0
125
VIEWS
ShareShare

On May 4, Coinbase Global reported a fifth consecutive quarter of losses. The results show that customers and investors have fallen out of favor with the company despite a recovery for crypto markets during the first quarter.

The company posted a loss of $79 million, which is much lower than the $430 million it lost in the same period last year. The net loss per share equated to $0.34.

The results have beaten analysts’ expectations which were losses of $316 million or $1.45 per share.

Its total revenue was $772.5 million, which was 37% lower than the $1.1 billion in revenue for Q1 2022. However, total operating expenses were less than $900 million resulting in an operating loss of $124 million, according to the report. The losses were limited by a 20% cut in the Coinbase workforce in January.

Coinbase Retail Volumes Down

The firm’s retail trading activity did not grow much in the first quarter despite a 50% gain for the crypto markets. Its total trading volume fell to $145 billion for the period from $309 billion a year ago. As a result, its total transaction revenue fell 63% to $375 million from more than $1 billion a year ago.

ADVERTISEMENT

However, Coinbase does have some of the highest fees in the industry, so savvy traders may have sought alternatives.

Coinbase is mired in a regulatory quagmire with threats of SEC enforcement action and various lawsuits looming over it. Chief Legal Officer Paul Grewal said the legal fight with the SEC could be lengthy, but the firm expects to be fully operational in the meantime.

This week, the firm stated that it will be ceasing its Coinbase Borrow services as of May 10. But it didn’t clarify whether this was due to regulatory pressure.

The firm was also hit with a lawsuit this week in which executives were accused of dumping millions in stock to prevent losses by insider trading.

COIN Price Surges

Company stock surged almost 9% in after-hours trading, according to MarketWatch. As a result, COIN prices hit $53.75 on May 4.

Furthermore, shares in Coinbase have gained 60% since the beginning of the year but remain down 84% from their peak price of $343 in November 2021.

COIN is currently down around 36% from its 2023 high of $84 on March 21 as regulatory pressure intensifies. By comparison, crypto markets have retreated just 7.5% from their 2023 peak in mid-April.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share10Tweet6ShareSharePin2

Related Posts

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos
All news

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos

08.07.2025
0

Ethereum co-founder Vitalik Buterin has called on the crypto community to shift toward “copyleft” licensing, arguing that the sector is...

Read moreDetails
[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

08.07.2025
Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

08.07.2025
London Duo Jailed for $2 Million Crypto Scheme

London Duo Jailed for $2 Million Crypto Scheme

08.07.2025
ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

08.07.2025
Load More
Next Post
What is profit and loss (PnL) and how to calculate it

What is profit and loss (PnL) and how to calculate it

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

ZK-rollups are ‘the endgame’ for scaling blockchains: Polygon Miden founder

ZK-rollups are ‘the endgame’ for scaling blockchains: Polygon Miden founder

2 years ago

ETH Bulls Aim at $2K But is a Retest of $1.8K Coming First? (Ethereum Price Analysis)

2 years ago
DePIN will become one of this decade’s most important crypto investments

DePIN will become one of this decade’s most important crypto investments

2 years ago
Encryptus Unveils the Largest Payout Network at Coindesk Consensus

Encryptus Unveils the Largest Payout Network at Coindesk Consensus

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

London Duo Jailed for $2 Million Crypto Scheme

Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

Pi Coin Price Prediction: Daily Volume Collapses Below $100M – Are Whales Dumping and Vanishing for Good?

DDC Enterprise’s Bold Bitcoin Move: Boosting Holdings to 368 BTC Signals Strategic Shift

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

Trending

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos
All news

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos

08.07.2025
0

Ethereum co-founder Vitalik Buterin has called on the crypto community to shift toward “copyleft” licensing, arguing that...

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

08.07.2025
Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

08.07.2025
London Duo Jailed for $2 Million Crypto Scheme

London Duo Jailed for $2 Million Crypto Scheme

08.07.2025
Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

08.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz