Coinbase

Several investment firms cut their price target on Coinbase's stock this morning but noted that the shares are trading in 'oversold' territory and expressed ...

The number of monthly transacting users also fell to 9.2 million, a decrease of 2.2 million from Q4. The exchange’s total trading volume shrank from $547 billion in the fourth quarter of 2021 to $309 billion. The bank has lowered its 12-month target for the stock from $240 to $80.

Coinbase — Shares sank 23% after Coinbase reported first-quarter revenue below expectations. Coinbase posted revenue of $1.17 billion versus the Refinitiv ...

Occidental reported first-quarter earnings of $2.12 per share on revenue of $8.53 billion. The RealReal — Shares of the secondhand luxury seller dropped 22% after the company reported a wider-than-expected loss for its most recent quarter. Krispy Kreme reported adjusted per-share earnings of 8 cents on $373 million of revenue. Analysts surveyed by Refinitiv had penciled in 18 cents per share on $497 million of revenue. The company reported an adjusted 17 cents in per-share earnings on $489 million of revenue. Unity Software reported $320 million in revenue in the first quarter, while analysts surveyed by Refinitiv expected $322 million.

The cryptocurrency trading firm is warning that its customers could be viewed as general unsecured creditors during bankruptcy proceedings.

- Saks Fifth Avenue:$20 off sitewide + free shipping - Saks Fifth Avenue coupon You may cancel your subscription at anytime by calling Customer Service. Coinbase Global Inc. acknowledged that reality this week.

Coinbase Global CEO tries to calm users after a recent filing said they could lose access to their cryptocurrencies if the company entered bankruptcy ...

The disclosure stated that, in the event Coinbase ever declared bankruptcy, "the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings" and Coinbase users would become "general unsecured creditors". Oppenheimer analyst Owen Lau (Outperform) admits that the Federal Reserve is taking away "massive" liquidity, which in turn is discouraging risks in long-duration assets and driving trading-volume weakness. "This disclosure makes sense that these legal protections have not been tested in court for crypto assets specifically." While several Wall Street analysts spent Wednesday lowering their expectations for COIN stock, the pros are broadly still constructive on the crypto exchange operator's shares. When companies proceed to liquidation during a bankruptcy proceeding, all of its assets get distributed to its creditors. First in line to claim assets they are owed are secured creditors, followed by unsecured creditors. In doing so, Coinbase users give up partial control over their cryptocurrency assets. This effectively means Coinbase users' ownership of their crypto isn't absolute. Without this private key, the crypto becomes inaccessible. Typically, the most important news to come out of a publicly traded company's quarterly earnings report is … well, the earnings. A precipitous plunge in Coinbase Global ( COIN, $72.99) stock is suddenly more than just a concern to current shareholders. And in their Q1 2022 filing, a new SEC requirement called SAB 121 obligated the company to detail responsibilities to safeguard crypto assets held for users on the trading platform.

Coinbase spooked customers with an admission that their crypto holdings could be at risk if the company goes bankrupt – a warning that surfaced alongside a ...

In the past, crypto platforms would leave customer assets off their reports, mirroring the practice followed by publicly traded brokerages. Meanwhile, Coinbase’s first-quarter revenue fell far short of Wall Street’s expectations. “Because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors,” the filing said.

A mammoth slump in crypto prices in May was only the beginning. The latest hits? Coinbase's Q1 results and the stablecoin TerraUSD plunging.

Ruled by the code of the blockchain, DAOs are designed to be run by the members of the community, not some central being, and that has plenty of potential. “In traditional investigations, we know who committed the crimes and follow the money to prove it,” explains Dana Windsor, a spokesperson for the IRS’s criminal investigations unit, which had 80 crypto-related cases on its docket at the end of last year. Federal agencies like the IRS, the FBI, and the State Department have spent millions of dollars on contracts with private crypto intelligence firms. Created by Terraform Labs and its leader Do Kwon, the so-called " King of the 'Lunatics,'" UST is distinct from the likes of Tether's USDT and Circle's USDC in that, instead of using a mix of assets like cash and bonds to maintain its peg, UST relies on what's been described as " financial engineering." The second blow to the crypto markets—the decline of TerraUSD—had already been bubbling up by the time Coinbase's earnings had dropped. On Tuesday, in the first slug of a one-two punch combo to crypto investors everywhere, Coinbase, the largest U.S. crypto exchange, reported earnings for the first three months of the year, and, well, it wasn't great. If you're looking for a more detailed explainer on how it works, check out this piece from Fortune's Marco Quiroz-Gutierrez and Taylor Locke. But, to oversimplify, the gist of what's happened of late is that, as University of Calgary professor Ryan Clements explains to my colleagues, algorithmic stablecoins ultimately rely on perception and demand. But what does it mean to be a crypto crime fighter? For months, cryptocurrency bears, skeptics, and even some of the most optimistic prognosticators have been raising the alarm bell: A winter was coming to the crypto markets. Coinbase did warn in February that a slowdown was on the horizon. The count of monthly transacting users on Coinbase, meanwhile, fell to 9.2 million in the quarter from 11.4 in the prior three months, though it was still up year-over-year from 6.1 million. Of course, the broader market has tumbled as well.

Cryptocurrency exchange Coinbase lost close to half-a-billion dollars in the first quarter of 2022, which helped push its stock price down to less than ...

Armstrong likened Lightning to the early internet “moving from dial-up to broadband” in terms of expanding BTC’s bandwidth. Yet Coinbase continues to ignore BSV, while keeping its customers in the dark by ‘passing off’ BTC as Bitcoin. A Tuesday filing with the U.S. Securities and Exchange Commission (SEC) notes that, as of March 31, Coinbase held $256 billion in fiat and cryptocurrency on behalf of its customers. That compliance focus probably came as a surprise to regulators in India, which blocked Coinbase from using the Unified Payments Interface (UPI) system the same day the company began offering full-service trading operations to local customers. Coinbase is also excited about “the expansion of our staking offering,” which was the site’s most popular non-investing product. Armstrong opted against sharing any metrics, saying little beyond the fact that there was “lots of inventory.” And just FYI, that lack of commitment could also extend to the company’s rank-and-file customers. Coinbase CFO Alesia Haas clarified that the company has a goal of capping 2022’s potential full-year adjusted earnings loss at “approximately $500 million.” Both retail ($74 billion, -58% Q-on-Q) and institutional ($235 billion, -37%) trading was in the red, with the retail figure representing an all-time low for the firm, suggesting a greater number of ‘minnow’ customers have belatedly figured out that this speculative game is rigged against them. BTC and Ethereum accounted for 24% and 21%, respectively, of Q1’s trading volume, up from 16% apiece in Q4. Meanwhile, ‘other crypto assets’ – aka crap tokens owned by venture capital firms with seats on Coinbase’s board of directors – saw their trading volume fall 13 points to 55% of the total. The carnage has only accelerated in after-hours trading, with the price threatening to slip below $60 at several points. Adjusted earnings tumbled from $1.2 billion in Q4 to just $20 million in the most recent quarter.

Coinbase Global Inc., like the rest of the cryptocurrency market, is having a really tough week. Not filing-for-bankruptcy bad, but the biggest US crypto ...

Coinbase CFO Alesia Haas. Photo: Alex Wong/Getty Images. Coinbase on Wednesday for the first time detailed what would happen to user assets were the company to ...

So let's peek at how that's playing in the deals universe, as investors try to determine the sharpness of those falling knives: What the tech rout means for tech deals Coinbase on Wednesday for the first time detailed what would happen to user assets were the company to go bankrupt, a disclosure that helped drive Coinbase’s share price to new lows.

A leading cryptocurrency exchange, Coinbase, has been hit hard by a recent drop in the price of Bitcoin and other cryptocurrencies, making the recent outage ...

The company reported a steep drop in revenue earlier this week, and its stock has shed more than half its value over the course of a week. The downtime comes amid a widespread crash in cryptocurrency prices, adding particular urgency to trades and withdrawals. We’re seeing recovery after implementing a fix, but our teams are continuing to monitor the situation.

Ever on the hunt for disruptive tech stocks in "deep value territory," the Bitcoin evangelist bought $29 million worth of stock in the leading U.S. crypto ...

“ She’s awful.” According to data from CoinGecko, digital tokens lost an aggregate 9% over the past 24 hours. A chunk of the decline in the stock came after the company published disappointing Q1 results on Tuesday and warned customers their crypto wallets it holds on a custodial basis were not safe and could be liquidated to pay creditors in the event of bankruptcy.

Shares of the crypto trading platform have tumbled more than 30% this week as its growth hits a wall.

Biden's order also directed federal agencies to study the impact of cryptocurrency on financial stability and national security. However, a recent run on the TerraUSD stablecoin dropped its value to as low as 30 cents, sowing doubt among investors about the safety of stablecoins. The disclosure, made after the drop in share price, set off alarms among Coinbase users, concerned that the company was at risk of bankruptcy. Tl;dr: Your funds are safe at Coinbase, just as they've always been," tweeted Armstrong, adding in a subsequent tweet, "We have no risk of bankruptcy." On the day of its initial public offering just 13 months ago, prices hit $429 per share, valuing the company at $86 billion. "These market conditions directly impacted our results for the first quarter of 2022."

ARK Innovation Exchange-Traded Fund (ETF), or AARK, bought 360,855 Coinbase shares, 0.252% of the fund's investments. ARK Next Generation Internet ETF, or ARKW, ...

Demirors is a speaker at CoinDesk's Consensus festival in June. Demirors is a speaker at CoinDesk's Consensus festival in June. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. The longtime bitcoin bull remains so, reminding that he's held the crypto through three 80% drawdowns. Three funds of Cathie Wood’s Ark Investment Management bought a combined total of 546,579 shares of Coinbase Global (COIN) on Wednesday, Ark said in its daily trading update email. The longtime bitcoin bull remains so, reminding that he's held the crypto through three 80% drawdowns.

Coinbase, a cryptocurrency exchange platform, faced technical issues on Thursday, upsetting users who are concerned about their investments amid plummeting ...

In a Twitter thread on Tuesday, Armstrong addressed Coinbase users' concerns about the company's stability and the security of their digital assets. The price of cryptocurrencies, including Bitcoin, has further plunged amid a large sell-off that continues to impact the volatile crypto market. Ethereum was trading at about $1,908 on Thursday, down about 18 percent over the last 24 hours. The trading platform has recently reported a $430 million first quarter net loss based on a decrease in sales and active users, CBS News reported. "These market conditions directly impacted our results for the first quarter of 2022." NetBlocks posted a screenshot of Coinbase's page on Twitter that read "we're having connection issues.

Text size. Shares of crypto companies are plunging along with the value of digital currencies. AFP via Getty Images. As the sharp selloff in Bitcoin and ...

The company also warned that investors could lose their crypto holdings if it goes bankrupt.... - Print Article - Order Reprints

Lender worries mounted after a Coinbase disclosure cast uncertainty on where bondholders stand in line for claims on company assets in case of bankruptcy.

Coinbase Global’s bonds are trading around 60 cents on the dollar amid a broad selloff in cryptocurrencies. Shares of the cryptocurrency-trading platform sold off after the company posted a first-quarter loss that was much larger than expected; Coinbase (ticker: COIN) shares have lost nearly half their value in the week ended Thursday. The earnings report added fuel to a sharp... Lenders are grappling with the news that they could have an unexpected group of competitors for company assets in case of a bankruptcy: the depositors.

Coinbase disclosed Tuesday that it could absorb users' crypto in the unlikely event of bankruptcy. Experts say the wallets, which resemble USB drives, are like ...

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Coinbase Global Inc. has declined precipitously this year, largely mimicking the drop in Bitcoin prices and taking its market value down to $12.5 billion ...

The stock was given a buy rating by 22 analysts, according to data compiled by Bloomberg. While five gave it hold ratings, only four recommended selling the stock. The crypto exchange is down nearly 77% so far this year, trading far below its first-day closing price of $328.28 last April. But analysts still broadly recommend the stock, despite its weaker-than-expected first-quarter earnings report. But Wall Street still remains bullish on the stock.

Cryptocurrency trading platform Coinbase has lost half its value in the past week, including its biggest one-day drop ever on Wednesday as the famously ...

Biden’s order also directed federal agencies to study the impact of cryptocurrency on financial stability and national security. Terra recovered somewhat, to about 68 cents on Wednesday. On the day of its initial public offering just 13 months ago, prices hit $429 per share.