Shares of U.S. crypto exchange Coinbase teetered this morning after its second-quarter results missed both top- and bottom-line expectations, off more than 5% in pre-market trading then jumping as much as 7% after markets opened.
The company, once hugely profitable in the wake of its 2021 direct listing thanks to a run in crypto-related trading activities, is now working to limit costs and brave the ongoing “winter” in its market and stick to prior profitability targets for the full year.
The Coinbase report — read TechCrunch’s initial look here — is replete with fascinating data, making it difficult to detail in just one column. To wrap our minds around what Coinbase reported yesterday and what its notes on the future mean for the crypto startup economy in the back half of 2022, we’re digging deeper today.
What follows are five takeaways from Coinbase’s report that stood out to us. Of course, let us know if you think we missed something critical. To work!