📰 【Coinbase First Quarter Net Loss of $394.1 Million, CEO Seeks to Reduce Dependence on Spot Cryptocurrency Trading Business】

BlockBeats reports that on May 8th, Coinbase released its first quarter financial report, recording a net loss of $394.1 million. Due to a significant drop in cryptocurrency prices during this period, the digital assets held on the exchange’s balance sheet suffered substantial losses. The company lost $482 million on crypto assets held for investment purposes. Coinbase CEO Brian Armstrong remains optimistic, stating that "all finance" will eventually move on-chain, and the company is built to seize this transition. Armstrong said, "Despite the downturn in the crypto market, the fundamental growth of on-chain economy remains strong." He also mentioned that Coinbase...
I swear, this earnings report made my blood pressure soar! A net loss of $394 million, plus a $482 million loss on crypto assets—these market manipulators are playing with the lives of retail investors! Armstrong is still out there bragging about “all finance on-chain,” fooling people? They’re shaking the market so badly even their own mother wouldn’t recognize it, and they expect to turn things around? The sky is falling, folks, if you don’t run now, you’re just waiting to be buried?👇👇👇👇👇