{"id":506411,"date":"2022-11-04T05:53:06","date_gmt":"2022-11-04T02:53:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-transaction-revenues-plummet-44-as-users-activity-declines-in-q3\/"},"modified":"2022-11-04T05:53:06","modified_gmt":"2022-11-04T02:53:06","slug":"coinbase-transaction-revenues-plummet-44-as-users-activity-declines-in-q3","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-transaction-revenues-plummet-44-as-users-activity-declines-in-q3\/","title":{"rendered":"# Coinbase transaction revenues plummet 44% as users activity declines in Q3"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36ed7c40ba8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36ed7c40ba8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-transaction-revenues-plummet-44-as-users-activity-declines-in-q3\/#%E2%80%9D_Coinbase_transaction_revenues_plummet_44_as_users_activity_declines_in_Q3_%E2%80%9C\" >&#8221; Coinbase transaction revenues plummet 44% as users activity declines in Q3 &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Coinbase_transaction_revenues_plummet_44_as_users_activity_declines_in_Q3_%E2%80%9C\"><\/span>&#8221; Coinbase transaction revenues plummet 44% as users activity declines in Q3 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZTFmNGMxOTctZDdiYy00NWQzLTliYzctODQ0ZTk1NjM5OGJhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>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.<\/p>\n<p>In its shareholder <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1679788\/000167978822000115\/a20221103shareholderlett.htm\">letter<\/a> released Nov. 3, the company shared that transaction reven had fallen from $655.2 million in the second quarter to $365.9 million, representing a decline of 44%.<\/p>\n<p>The company cited poor macro conditions with daily average crypto market capitalization falling 30% and trading volumes shifting away from the United States due to the lack of regulatory clarity\u00a0as reasons for the decline.\u00a0<\/p>\n<p>It also blamed the numbers on an increasing amount of retail customers holding, while advanced traders have been using other platforms with more complex products amid the bear market.\u00a0<\/p>\n<p>Despite the ailing numbers, Coinbase CEO and co-founder Brian Armstrong <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared bullish during the Q3 earnings call, commenting that the regulatory environment could be one of the \u201cbiggest unlocks\u201d to growing the industry and even allow for \u201cprices to go back up.\u201d<\/p>\n<blockquote><p>\u201cI think there&#8217;s an opportunity at some point for the crypto prices to potentially decouple from the broader macro environment. And we don&#8217;t know if that&#8217;s gonna happen, but I think it&#8217;s one of the possibilities and regulatory clarity is one of the things that could help kick that off.\u201d<\/p><\/blockquote>\n<p>During the earnings call, Coinbase\u2019s Chief Financial Officer Alesia Haas was also asked whether positive earnings could be expected in the final quarter.<\/p>\n<p>Haas responded by saying that it wasn\u2019t their primary focus, and they are looking to continue investing for growth throughout the cycle while minimizing losses, adding:<\/p>\n<blockquote><p>\u201cWhen we\u2019re in bull runs we\u2019re going to make profit, when we\u2019re in downturns we\u2019re going to take prudent losses.\u201d<\/p><\/blockquote>\n<p>Coinbase appears to have been successful in that aim, with the latest earnings report showing that they have managed to reduce operating expenses by 38% from the previous quarter through staff cuts and other measures.<\/p>\n<p><strong>Related: <\/strong><strong><em>Ripple\u2019s allies expand: Coinbase files amicus brief in fight against SEC<\/em><\/strong><\/p>\n<p>Overall, Coinbase reported Q3 revenue of $576.4 million, decreasing 28% from Q2, while its net loss was reduced by 50% to $544.6 million. <\/p>\n<p>Coinbase noted that the fall in revenue was partially offset by an increase in subscription and services revenue \u2014 which come from its staking and custody services and interest income \u2014 which grew 43% compared to the previous quarter. <\/p>\n<p>Coinbase shares (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/coin\/\">COIN<\/a>) have fallen by over 8% over the days trading, with the firm&#8217;s revenue for the quarter coming in below Bloomberg expectations of $649.2 million.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-transaction-revenues-plummet-44-as-users-activity-declines-in-q3\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Coinbase transaction revenues plummet 44% as users activity declines in Q3 &#8220; 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 Nov&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":506412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZTFmNGMxOTctZDdiYy00NWQzLTliYzctODQ0ZTk1NjM5OGJhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74957,74956,74860,75679,96725,75566,117,70934,67874],"class_list":["post-506411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-brian-armstrong","tag-coinbase","tag-cryptocurrency-exchange","tag-market-capitalization","tag-press-release","tag-report","tag-business","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=506411"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/506412"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=506411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=506411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=506411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}