Commentary on Coinbase’s Q2’22 Earnings
Quick Take
- Trading closed down (11%) at $87.68 / share and slumped another (5%) to 82.90 / share in afterhours trading
-
Reported $808mm total revenue, ($4.95) EPS, $217bn Trading Volume and ($1.1bn) Net Income
-
Reflects a (7.5%), (100%) miss, +0.41% beat and (102%) miss respectively
-
-
+48% rally last week from Coinbase x Blackrock partnership announcement
-
June 14, 2022 announced internal restructuring plan
-
1,100 FTE dismissals, an (18%) company wide reduction in FTE count as of June 10, 2022
-
June 2022 indictment against former Coinbase Product Manager Ishah Wahi and related parties for front running digital assets
-
August 2022 lawsuits launched against Coinbase regarding business practices and disclosure surrounding digital assets requiring Security & Exchange Commission (SEC) registration as securities
This research piece is available exclusively to
members of The Block Research.
You can continue reading
this Research content on The Block Research.
Go to Source
Author: Greg Lim
