Coinbase: Painful Billion-Dollar Loss As Crypto Winter Bites

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Cavenagh Research


  • On August 9th after market hours, Coinbase reported earnings for Q2 2022 and greatly disappointed against analyst consensus estimates.
  • Coinbase results missed both with regards to revenue and earnings expectations.
  • Crashing crypto prices caused Coinbase's revenues to plummet by more than 60% as compared to the same quarter in 2021.
  • Unsurprisingly, following the announcement, Coinbase stock crashed by as much as 10% (reference extended trading hours).
  • Reflecting on the challenging macro environment, especially for crypto-related assets, I believe investors should avoid investing in Coinbase.

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On August 9th after market hours, Coinbase (NASDAQ:COIN) reported earnings for the second quarter 2022 and greatly disappointed against analyst consensus estimates, both with regards to revenues and earnings. Crashing crypto prices caused Coinbase’s revenues to plummet by

COIN price performance

Seeking Alpha

Coinbase Q2 Results

Coinbase Q2 Results

This article was written by

Cavenagh Research profile picture
5y experience as an investment analyst for a major BB-Bank. Currently working towards the CFA charter. Passion for risk-assets (Growth, Contrarian, Emerging Market) ex-colleague and close friend of Investor Express

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: not financial advise

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