Coinbase Revenue May Drop by 50% in 2022: Brian Armstrong
Owing to the back-to-back collapses of firms from the crypto space, investor confidence has been shaken. As a result, companies providing trader-investor services that have managed to stay afloat, do not have very high profitability expectations. In a recent interview with Bloomberg, Coinbase CEO Brian Armstrong said that the exchange’s revenue is set to slash down by around half this year. Drawing parallels with last year’s numbers, he said, “Last year in 2021, we did about $7 billion of revenue and about $4 billion of positive EBITDA, and this year with everything coming down, it’s looking, you know, about roughly half that or less.” Coinbase CEO Brian Armstrong said the exchange’s 2022 revenue will likely be cut in half or more as declining prices and the collapse of rival FTX rattle the crypto industry https://t.co/QmrBOiZykJ — Bloomberg Crypto (@crypto) December 8, 2022 Coinbase previously indicated it could see a 2022 loss ...