Crypto exchange Coinbase saw a huge fall in its transaction revenues in the third quarter after activity fell amid a broader market downturn, but managed to cut its losses in half compared to the prior quarter.
In its shareholder letter released on Nov. 3, the company shared that transaction revenue had fallen from $655.2 million in the second quarter to $365.9 million, representing a decline of 44%.
And we don't know if that’s gonna happen, but I think it’s one of the possibilities and regulatory clarity is one of the things that could help kick that off.”
During the earnings call, Coinbase’s chief financial officer Alesia Haas was also asked whether positive earnings could be expected in the final quarter.
Haas responded by saying that it wasn’t their primary focus, and they are looking to continue investing for growth throughout the cycle while minimizing losses, adding: “When we’re in bull runs we’re going to make profit, when we’re in downturns we’re going to take prudent losses.”

Source - Coin Telegraph
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