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Coinbase racks up $1.1bn loss as crypto trading volumes slump

Financial Times LogoFinancial Times3 mo ago

Coinbase racks up $1.1bn loss as crypto trading volumes slump - Financial Times

Quick Summary:

At $46bn, the volume of trading on behalf of retail customers was down more than two-thirds compared to the year before.

It said $446mn of the loss reflected an impairment charge on its crypto and venture investments.

The company’s shares have been highly volatility in recent days, jumping more than 30 per cent last week on an alliance with BlackRock.


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Article Details

Author / Journalist: Richard Waters

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-08-09 @ 21:09:44 (3 months ago)

News Timezone: GMT -5:00

Ranking: #882 (out of 3224 stories this day)

News Source URL: ft.com

Language: English

Article Length: 391 words

Reading Time: 3 minutes read

Sentences: 27 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 125110

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 17 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 10 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #3

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