Market capitalisation of the bitcoin exchange Coinbase has fallen more than tenfold since its shares began trading on Nasdaq. On December 20, the stock was valued at $34.97, compared with $381 at the IPO (April 2021).
In the latest session, they closed down 0.57%, while the Nasdaq index hovered near the flatline, and Bitcoin and Ethereum rose 2.8% and 4.2%, respectively.
On December 8, a top executive admitted, that in the wake of the crypto winter the exchange’s annual revenues would halve relative to 2021.
Net loss in the third quarter of 2022 stood at $545 million against $1.1 billion in the previous period.
Earlier in October, ARK Invest bought Coinbase shares. In November, the company’s structures spent another $21.4 million, in December — $3 million.
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