The next domino is falling. It won’t be the last in my opinion. Their $250 million credit evaporated in the blink of an eye.
Thankfully I’ve only put $10 here. But man… IS COINBASE NEXT
They have audits about their reserves I think.
Bathroom reading for you about CB’s proof of reserves explanation: https://www.coinbase.com/blog/how-crypto-companies-can-provide-proof-of-reserves
SEC filings: Coinbase - Financials - SEC Filings
Quarterly Earnings: Coinbase - Financials - Quarterly Earnings
The 10-Q shows an unaudited balance sheet if you’re interested. They’re definitely losing money.
Omg. I mean understandable i guess since I can’t really imagine anyone making any money in this kind of environment…
Coinbase revenue down 50% from a year ago.
CB lost 500k users between Q2 and Q3, but didn’t lose as many as expected. So some good news.