Coinbase Global Inc. reported a net loss of $667 million for the fourth quarter, a stark contrast to the profits seen during the height of the crypto boom. The exchange faced a significant decline in revenue as trading volumes plummeted amid a broader market downturn and cooling investor sentiment. Transaction revenue, the company’s primary income source, fell sharply as both retail and institutional traders reduced activity. To mitigate the financial impact of the ‘crypto winter,’ Coinbase has aggressive cost-cutting measures in place, including substantial layoffs. Despite the quarterly loss, the company noted growth in its subscription and services segment, signaling a strategic shift toward more stable, recurring revenue streams to weather future market volatility.
Source: Coinbase swings to $667 million loss as crypto slump drags Q4 revenue
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