{"id":69581,"date":"2022-11-04T15:33:44","date_gmt":"2022-11-04T13:33:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69581"},"modified":"2025-09-07T20:52:44","modified_gmt":"2025-09-07T17:52:44","slug":"coinbase-nearly-halves-losses-in-q3","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/coinbase-nearly-halves-losses-in-q3\/","title":{"rendered":"Coinbase nearly halves losses in Q3"},"content":{"rendered":"<p>Coinbase&#8217;s net loss in the third quarter of 2022 was $545 million <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-posts-loss-twice-as-large-as-forecasts\">versus $1.1 billion<\/a> in the prior period. The shares rose.<\/p>\n<blockquote class='twitter-tweet' data-lang='en'>\n<p lang='en' dir='ltr'>Our Q3&#8217;22 financial results are in.<\/p>\n<p>Check out our letter to shareholders:<a href='https:\/\/t.co\/JmThnye15x'>https:\/\/t.co\/JmThnye15x<\/a><\/p>\n<p>\u2014 Coinbase (@coinbase) <a href='https:\/\/twitter.com\/coinbase\/status\/1588264175100272641?ref_src=twsrc%5Etfw'>November 3, 2022<\/a><\/p><\/blockquote>\n<p> <script async src='https:\/\/platform.twitter.com\/widgets.js' charset='utf-8'><\/script><\/p>\n<p>In unaudited results, the exchange also said that monthly active users declined from 9 million to 8.5 million.<\/p>\n<figure class='wp-block-image'><img decoding='async' src='https:\/\/lh5.googleusercontent.com\/LP-qAggguBQCHZUKgr5ZRHy1-6AfQHK48PnngNkrKhcV0jmeSRk8osXHdK7A55VswSStoPIK-ZEXQMNjsV94UNECMkP8lxxxJNw3ejbe9cInze7XQVpC0iGlrdo-H7dcSUuA72yDCPC1f4x0xGy4o0PgVvdiZZUoMc5q0EGSZ5RqBENI2dCmladtd8EYQg' alt='Coinbase almost halved losses in Q3' \/><figcaption>Data: Coinbase.<\/figcaption><\/figure>\n<p>Revenue from transactional fees fell 44% \u2014 from $655.2 million to $365.9 million. In the institutional segment the decline was more pronounced \u2014 down 49%.<\/p>\n<p>At the same time, the company cut operating expenses by 38%: $1.15 billion versus $1.47 billion.<\/p>\n<p>Additionally, revenue from subscription-based services rose to about the level of Q4 2021, reaching $210.5 million.<\/p>\n<p>As of the end of September, the value of digital assets on the platform stood at $101 billion ($96 billion in the preceding quarter).<\/p>\n<p>Coinbase&#8217;s cash and cash equivalents reserves declined to $5 billion from $5.7 billion.<\/p>\n<p>During the third-quarter earnings call, Coinbase&#8217;s <span data-descr='Chief Financial Officer' class='old_tooltip'>CFO<\/span> Alesia Haas addressed the year-end guidance:<\/p>\n<blockquote class='wp-block-quote is-layout-flow wp-block-quote-is-layout-flow'>\n<p>\u201cWhen we\u2019re on the upswing, we make profits; when we\u2019re down, we plan to incur prudent losses.\u201d<\/p>\n<\/blockquote>\n<p>Coinbase&#8217;s results largely beat guidance from both the company and market analysts. According to <a href=\"https:\/\/u1f987.com\/en\/news\/october-in-numbers-miners-on-the-brink-of-unprofitability-ethereum-censorship-and-a-potential-bitcoin-price-bottom\">ForkLog<\/a>&#8216;s report, October&#8217;s shares rose by 5%. As of writing, pre-market quotes for COIN stood at $57.41, up 5.3% from the close.<\/p>\n<figure class='wp-block-image'><img decoding='async' src='https:\/\/lh6.googleusercontent.com\/aw7vUHqXukhft2aiTxDZcWyxkp2oiYH_ltxf6bn1UQlkvUObiUZqO4ehvTiCmWQMp7TWITGtxYbWWQqWxx8tYCteBpLKu19a6AzGZwMvEOZXPXxR6LgJ1t37kHZfcnNxbGDUai06KbCyW0UZjsg9HgRyEsVqwWTrOGRxruAHClbezrrHDvE9gmKaUcca-A' alt='Coinbase almost halved losses in Q3' \/><figcaption>Data: <a href='https:\/\/www.marketwatch.com\/investing\/stock\/coin'>MarketWatch<\/a>.<\/figcaption><\/figure>\n<p>ARK Invest&#8217;s Cathie Wood <a href=\"https:\/\/u1f987.com\/en\/news\/ark-invests-kathy-wood-buys-coinbase-shares-for-first-time-since-june\">increased her stake in Coinbase<\/a> in October for the first time since July. The flagship Ark Innovation ETF bought 10,880 Coinbase shares, bringing the total position to $60.5 million, or 8% of <span data-descr='Assets Under Management' class='old_tooltip'>AUM<\/span>.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase&#8217;s Q3 2022 net loss was $545 million, versus $1.1 billion in the prior period. The shares rose.<\/p>\n","protected":false},"author":1,"featured_media":69582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,138,1211],"class_list":["post-69581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-coinbase","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=69581"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69581\/revisions"}],"predecessor-version":[{"id":69583,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69581\/revisions\/69583"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69582"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}