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The coin base share crashes because the crypto exchange recorded a loss of $ 430 million
Coinbase has the estimates of the analysts for sales in the first quarter. The stock exchange missed that the broader market conditions were to blame, but it was not afraid of a bear market Coinbase reported sales of $ 1.17 billion and misjudged the analysts. The stocks crashed by 12 % in post -interconnected trade. "It is worth addressing only the elephants in the room, namely that the wider markets are of course on the ground," said Brian Armstrong, CEO of Coinbase, during the company. "We tend to do our best work in skills, so ...
The coin base share crashes because the crypto exchange recorded a loss of $ 430 million
- Coinbase has failed the estimates of the analysts for sales in the first quarter
- The stock exchange said that the wider market conditions were to blame, but it was not afraid of a bear market
The Coinbase cryptocurrency exchange reported sales of $ 1.17 billion in the first quarter and failed to estimate the analysts. The stocks crashed by 12 % in post -interconnected trade.
"It is worth addressing only the elephants in the room, namely that the wider markets are of course on the ground," said Brian Armstrong, CEO of Coinbase, during the company Results call Tuesday.
"We tend to do our best work in skills, so I have never ironically been so optimistic where we are as a company."
The monthly active Coinbase users sank to 9.2 million and thus remained behind the consensus of the street of 9.5 million.
The total trading volume in the first quarter was $ 309 billion, a 44 % decline compared to the fourth quarter of 2021, which the stock exchange attributed to the market conditions. The company said that a further decline in transactions in the second quarter would expect, but its outlook for 2022 was "largely unchanged".