from Hacker News

Coinbase earnings: $1.1B loss, lower-than-expected revenue

by owenwil on 8/9/22, 9:10 PM with 13 comments

• by kragen on 8/9/22, 10:43 PM

  Ouch, Coinbase lost over an Instagram this quarter! That sucks.

  Is this article implying that they had a long position in cryptocoins? I thought they only held them on behalf of their customers, who were the ones taking the risks, while they reaped transaction fees. Or did they really lose money just because their trading volume fell?

  Yields of 10% on bonds maturing in four years is high, but it doesn't imply an overwhelming level of risk.

• by pharmakom on 8/9/22, 10:41 PM

  How do you lose money charging fees on exchange transactions?

• by Melting_Harps on 8/9/22, 10:39 PM

  Lets see how they handle the other 2 lawsuits pending [0]; their stock price had a recent boost due to their partnership with Blackrock, but I cannot see how they are walking away from this. It's about time, too; CONbase is a blight in the ecosystem.

  0: https://cointelegraph.com/news/two-more-lawsuits-for-coinbas...

• by spaceman_2020 on 8/10/22, 5:34 AM

  Cash reserves down 1.5B from December 2021. Another 2 years of crypto winter + economic downturn and this can turn nasty.

  They haven’t innovated at all and are getting their arse kicked by FTX and Binance.

• by htrp on 8/9/22, 11:17 PM

  377mn non cash impairment charge......