Coinbase CEO: Expects Coinbase's annual revenue this year to decrease by 50% compared to 2021

ChainCatcher news, Coinbase CEO Brian Armstrong stated in an interview with Bloomberg that Coinbase's total revenue for 2021 was approximately $7 billion, with an EBITDA of about $4 billion. However, this year, due to the decline in cryptocurrency prices and the collapse of FTX, which has shaken investor confidence, the exchange's revenue is expected to decrease by half or even more. This aligns with analysts' previous estimates of $3.2 billion in total revenue for the year.

It is reported that Coinbase's stock price fell by more than 80% in 2022, and the company's revenue in the third quarter was about a quarter of the Bitcoin price during the last three months of 2021 when it peaked. (source link)