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Coinbase Earnings Weren't as Bad as They Seem

·3 min read

The crypto market is down in 2022, and it should be no surprise that Coinbase's (NASDAQ: COIN) results are suffering as a result. Coinbase reported second-quarter earnings after the market closed on Tuesday, and the numbers weren't good by any measure. Revenue fell 60% from a year ago to $803 million, and the company swung from net income of $1.6 billion to a net loss of $1.1 billion.