Coinbase Reports Major Losses in Q2

The fall of the crypto market had a negative impact on the financial performance of US-based cryptocurrency exchange Coinbase.

Also, in June, Moody’s downgraded the investment attractiveness rating of this US stock exchange.

The crypto company entered the US stock market last spring and its shares are available to investors on the Nasdaq.

Coinbase operating expenses in Q2 2022 increased by 8% compared to the first quarter, whereas the company’s net loss amounted to $1.1 billion in the reporting period.

Coinbase has emphasized that the company’s operating expenses rose despite an 18% reduction in staff. In June, Coinbase revised its business model amid the dominance of bearish sentiment in the market.