Cryptocurrencies
Crypto Winter Seen Weighing On Coinbase Quarterly Results Again
- Shares of biggest U.S. crypto exchange mirror Bitcoin price
- Revenue likely rose to a record $2 billion in fourth quarter
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Coinbase Global Inc. shareholders are bracing again for quarterly results that may show the lull in cryptocurrency markets continues to dampen the enthusiasm of individual investors.
The largest U.S. crypto exchange is set to report fourth-quarter results on Thursday. In recent months, it had scored an impressive Super Bowl ad, drummed up interest in its upcoming NFT marketplace, and avoided a potential hack of its new trading function. Yet its shares are trading at about 40% below November’s record high, and even below the first-day opening price when it went public last April.