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They are counting the volume transacted as revenue, and gross profits as the transaction fee
by neximo64 5y ago
They are counting the volume transacted as revenue, and gross profits as the transaction fee
- oogabooga123 5y agoCan they get in trouble for this? Pretty sure this violates generally accepted accounting principles, no?
- yumraj 5y agoIf that is true, isn’t that exactly what Groupon used to do when they got in trouble once they went public. Groupon used to count dollars transacted as revenue, which is fundamentally incorrect.
- neximo64 5y agoYou buy from a vendor (coinbase?) and sell to a customer (cash app) + markup. Its not exactly the same as groupon it's more similar to selling cans of soda.