Coinbase’s transactional revenues fell 44% in the third quarter

The third quarter of 2022 was very difficult for the cryptocurrency market. Along with the collapse of bitcoin and other virtual currencies, investor activity weakened sharply. Major exchanges suffered losses due to capital exiting the cryptosphere.
Coinbase platform on the eve presented financial statements for July-September of this year. It says that the income of the exchange from transaction processing fell by 44% to $365.9 million.
Coinbase earned $655.2 million at the end of the second quarter. A note to shareholders of the cryptocurrency company notes that the negative financial results were a direct result of the market collapse by 30%.

Leave a Comment