cryptonews: Coinbase ended 2022 with mixed results, bringing in more revenue than expected despite a substantial drop in transactions. 🔎
Coinbase ended 2022 with mixed results, bringing in more revenue than expected despite a substantial drop in transactions.
Overall, 2022 was an unsurprisingly bad year, with net revenue of $3.15 billion less than half of 2021's $7.35 billion. And Coinbase saw a net loss of $2.6 billion.Despite that, CEO Brian Armstrong said he believed the outlook was bright for the company, arguing that "it's really easy to look at the headlines and assume that increased regulatory activity is bad for crypto, but I really don't agree with that.
"We were going to do things the right way even if it was more difficult. And I knew that there were going to be companies that would come in and try to cut corners. They might even grow really quickly because it's easier to move fast when you don't have to follow the rules. But they would inevitably come crashing down because regulators don't always act quickly, but they do eventually act.
At the same time, Armstrong said, there's "a lot of excitement just about the potential of this technology, "and there's a lot of desire for people to have this built here in America ... for all kinds of reasons: Economic growth, national security, etc.
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