The previously announced third-quarter financial report of Coinbase indicated a decline in cryptocurrency trading volume to $76 billion due to the overall downturn in the cryptocurrency market, leading to a decrease in transaction-related revenue to $290 million. However, thanks to effective cost control, the net loss has gradually narrowed. Coinbase stated that it expects to generate meaningful adjusted profits in 2023.
JPMorgan Chase Downgrades Coinbase Rating, Citing Concerns over ETF Disappointment, Target Price at $80 USD