{"id":71193,"date":"2022-12-08T15:04:15","date_gmt":"2022-12-08T13:04:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71193"},"modified":"2025-09-08T07:02:58","modified_gmt":"2025-09-08T04:02:58","slug":"brian-armstrong-says-coinbase-revenue-could-be-halved-in-2022","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/brian-armstrong-says-coinbase-revenue-could-be-halved-in-2022\/","title":{"rendered":"Brian Armstrong says Coinbase revenue could be halved in 2022"},"content":{"rendered":"<p>Against the backdrop of the FTX collapse and a rout in the cryptocurrency market, Coinbase&#8217;s revenues for 2022 could be halved. This was stated by CEO Brian Armstrong in an interview with <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-07\/coinbase-crypto-ceo-brian-armstrong-sees-revenue-falling-by-half-in-2022?leadSource=uverify%20wall&#038;sref=AACmJ2tc\\\">Bloomberg<\/a>.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cIn 2021 we earned revenue of about $7 billion, the <span data-descr=\\\"Earnings before interest, taxes, depreciation and amortization; the amount of profit before deducting interest, taxes, depreciation and amortization\\\" class=\\\"old_tooltip\\\">EBITDA<\/span> was around $4 billion. This year, given the widespread downturn, it looks like it will be roughly half that,\u201d he said.<\/p>\n<\/blockquote>\n<p>According to Bloomberg, the company previously said that in 2022 its loss based on adjusted EBITDA would not exceed $500 million.<\/p>\n<p>Coinbase shares <a href=\\\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/coin%D0%BC\\\">are trading<\/a> on the Nasdaq stock exchange. Since January 2022, stock prices have fallen 83%.<\/p>\n<p>Armstrong also commented on the FTX collapse. In his view, the collapse stemmed from &#8220;massive fraud&#8221;, not accounting or governance mistakes.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cIt appears they raised client funds and effectively commingled or moved them into their hedge fund, ending up in a very precarious position. I suppose this violated the terms of service and the law,\u201d he explained.<\/p>\n<\/blockquote>\n<p>Despite the scandal around Sam Bankman-Fried, Armstrong stressed that he would not abandon lobbying efforts. In his view, regulators should focus primarily on oversight of stablecoins, centralized exchanges and custodial services. He also noted the need for a clear distinction between the terms &#8220;commodity&#8221; and &#8220;security&#8221; in the context of digital assets.<\/p>\n<p>In November, the Coinbase chief said that his company <a href=\"https:\/\/u1f987.com\/en\/news\/brian-armstrong-says-the-ftx-crisis-has-no-impact-on-coinbase\">was not affected by the crisis<\/a>, in which the FTX platform found itself, and users were not at risk.<\/p>\n<p>Read ForkLog Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Against the backdrop of the FTX collapse and a rout in the cryptocurrency market, Coinbase&#8217;s revenues for 2022 could be halved. This was stated by CEO Brian Armstrong.<\/p>\n","protected":false},"author":1,"featured_media":71194,"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":[757,138],"class_list":["post-71193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-brian-armstrong","tag-coinbase"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71193","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=71193"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71193\/revisions"}],"predecessor-version":[{"id":71195,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71193\/revisions\/71195"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/71194"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=71193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=71193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=71193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}