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You say "doom and gloom" as if the media is being unfair in their coverage of Coinbase. The same Coinbase that saw a 43% decline in share price in four days bef
by 9935c101ab17a66 4y ago
You say "doom and gloom" as if the media is being unfair in their coverage of Coinbase. The same Coinbase that saw a 43% decline in share price in four days before releasing their earnings.
In said earnings report, they:
- Posted a net loss of $430m (defying analyst expectations of a profit)
- reported a decrease in monthly active users.
- reported a decrease in transaction volume.
Their bonds have been downgraded, they are facing increased financial regulation and two of the largest stablecoins have become unpegged in the last few days.
Coinbase then files an SEC disclosure stating in plain terms that it will use the assets of its users to pay off secured creditors in the event of a bankruptcy.
His twitter thread was definitely not a reasonable response.