Coinbase likens poor performance to cyclical nature of crypto
The firm says it makes sense to judge this quarter's $1.1 billion net loss against the peaks and troughs of the past two years.
123 stories, newest first
The firm says it makes sense to judge this quarter's $1.1 billion net loss against the peaks and troughs of the past two years.
A new Coinbase lawsuit alleges its extra-security subscription model leaves users exposed to hacks unless they cough up $360 a year.
The SEC has already claimed that a number of the 150 tokens traded via Coinbase meet all of the requirements to be classed as securities.
Coinbase took just an hour and a half to fix its latest withdrawal problem that left US users unable to cash out to their bank accounts.
Vauld's crypto platform suspended customer trading, withdrawals and deposits despite layoffs and previous assurances of "operation as usual".
— Coinbase
A Goldman Sachs analyst downgraded Coinbase stock to sell. The first crypto exchange to list on the NASDAQ is down 80% since listing.
According to an SEC filing, the cuts will leave Coinbase with around 5,000 remaining staff and will cost somewhere in the region of $40 million.
Many applicants turned down other opportunities after confirming a job at Coinbase, others are facing losing their visas.
— Coinbase
Coinbase staff will be encouraged to give positive, neutral, or negative feedback based on 10 core values after every interaction.
Armstrong admitted that, while Coinbase's Prime and Custody customers had "strong legal protections in their terms of service," retail customers didn't.