Not to say that they are the only ones feeling the crash but their stock dropped over 50% in price during this year. That obviously took effect on their profits which will definitely show in their reports on Tuesday.
Experts estimate that their earnings will also drop 50% or more in comparison to the last year and on top of that their losses will be around $600 million. Looking back on 2021 when Coinbase made $1.6 bln in the fall alone, this year will look like a total shipwreck. Can it get any worse?
Well, some folks sure think it is. And it sure might just look like it. Some investors saw an opportunity and bought the Coinbase dip bringing its share price 30% just in 5 days! Who would have thought?
The hype may also be bound to Coinbase's new partnership with BlackRock, the biggest of the investor companies also known as the world owners. Apparently it takes $10 trillion to own. That's the value of BlackRock assets at the end of 2021 Most probably the reason for such a prominent recovery is all of the above, plus The Merge is right around the corner. So if you think about it, there's plenty of reasons for such a rally.