Coinbase posts massive Q2 net losses as downturn bites

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City AM

By Darren Parkin Coinbase – one of the world’s most popular cryptocurrency exchanges – has revealed it suffered a massive $1.1 billion net loss in Q2 2022. The crypto behemoth – believed to be used by around 60 per cent of UK cryptocurrency investors – says it is pointing the finger at a ‘fast and furious’ downturn in digital assets which has seen a huge fall in transactions. Its announcement marks not only the exchange’s second consecutive quarterly loss, but also the biggest loss since Coinbase listed on the Nasdaq 15 months ago. “The current downturn came fast and furious, and we are seeing...

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