ICYMI: Coinbase posts net loss of $430 million for Q1 2022
said the firm brought in $1.16 billion in net revenue for the period. The Wall Street estimate for revenue was just under $1.5 billion for the quarter."The first quarter of 2022 continued a trend of both lower crypto asset prices and volatility that began in late 2021. These market conditions directly impacted our Q1 results," the firm said."But, we entered these market conditions with foresight and preparation, and remain as excited as ever about the future of crypto.
In the letter, Coinbase said that"we believe these market conditions are not permanent and we remain focused on the long-term." The firm said future plans include continued investments in its wallet and NFT-related services.
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