Coinbase expects 50 percent drop in revenue…

Coinbase expects 50 percent drop in revenue…

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(Changes sourcing) Dec 7 (Reuters) - Coinbase Global Inc's revenue is set to reduce by half this year, the cryptocurrency exchange tweeted on Wednesday, as digital assets reel from a sector-wide rout worsened by a string of high-profile collapses that shattered investor confidence. "(Chief Executive Officer Brian Armstrong) indicated that he expects Coinbase FY2022 revenue to be less than half of FY2021 revenue,” the company said in a tweet . Cryptocurrencies wiped away nearly $2 trillion from the sector as higher interest rates and exacerbating worries of an economic downturn cratered prices that eliminated key players such as Voyager Digital,...
Source: https://finance.yahoo.com/news/1-coinbase-ceo-expects-revenue-192540656.html