Coinbase CEO says revenue has fallen by “roughly half” but thinks new regulations will help the industry.
The CEO of Coinbase, Brian Armstrong, has revealed that the exchange’s trading revenue has declined by approximately 50% or more when compared to last year, according to a Dec. 7 report from Bloomberg.
Bloomberg said that a spokesperson for Coinbase later clarified that 2022 revenue, not earnings, was projected to be less than half what it was in 2021.in a letter to investors that it expected to post a roughly $500 million loss in adjusted EBITDA for 2022. Adjusted EBITDA is an earnings metric that doesn’t include interest, taxes, depreciation or amortization.will hurt the crypto industry.
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