Coinbase falls 5.45% after the close on poor quarterly results

Coinbase falls 5.45% after the close on poor quarterly results

The cryptocurrency trading platform CoinbaseGlobal increased the losses of this Tuesday in operations of the market after the closing, after it reported poor results for the second quarter of the year.

At around 7:30 p.m., the company’s shares were down 5.45% on the Nasdaq to $82.90 each. In the session this Tuesday, it closed with a fall of 10.55 percent, in anticipation of the poor financial results.

coinbase reported in his trimester report that its income from April to June amounted to 803 million dollars, a decrease of 60.50% compared to 2,033 million dollars in the same period of 2021.

The value of goods on the platform went from 180 billion dollars in the second quarter of last year to 96 billion dollars in 2022, almost 50% less.

The company said its second-quarter 2022 results were “severely impacted” by the plunge in prices for cryptocurrencies.

The price of bitcointhe world’s largest cryptocurrency, has plunged 65.73% since it peaked in November 2021, trading at $23,141.00 on Tuesday.

In the year, Coinbase shares accumulate a loss of 65.26%, for a loss in market capitalization of 34,845 million dollars.

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