Each weekday, stacy-marie ishmael dives into everything from Bitcoin to Bored Apes, NFT’s to DeFi, Staking to Web3. Bloomberg Crypto, from Bloomberg and iHeart Radio, goes deeper than the daily market buzz to explore how this asset class is shifting the way we live
What Will Coinbase’s Earnings Call Reveal?
What Will Coinbase’s Earnings Call Reveal?
The end of Sam Bankman-Fried’s empire created a contagion effect especially felt by crypto exchanges, like publicly-traded Coinbase. In early January, the exchange settled with New York regulators who accused it of “significant” compliance program failings. Coinbase agreed to pay a $50 million dollar fine and set aside $50 million more to improve its compliance practices. Ahead of its earnings report, CEO Brian Armstrong says Coinbase revenue will likely drop by half or more this year. And the picture may be equally dim for other global exchanges. Crypto senior editors Philip Lagerkranser and Anna Irrera are joined by Bloomberg reporter Yueqi Yang to talk through the latest. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter
Jan 25, 2023