International crypto exchange Coinbase has suffered a net loss of $430 million in the first quarter of 2022. Despite that, Brian Armstrong admitted during his public discussion of the numbers that he has never been more bullish than now.
Coinbase’s first quarter revenue is down 27 percent to $1.17 billion and its active user base is down 19 percent to 9.2 million. These are painful numbers for Coinbase, but of course that also has to do with the market that is currently struggling.
Coinbase Shares in Free Fall
Yesterday, Coinbase shares already lost 16 percent in regular trading due to the overall decline of the crypto market. After the publication of the quarterly figures in the so-called after-hours, the hours after the close of the market, the price fell from 73 to 61 dollars. The shares of Coinbase do not seem to have landed in that regard, because in November 2021 they were still at almost $ 380.