off-the-wire

Crypto exchange Coinbase swings to quarterly loss

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 21 (Reuters) - Coinbase Global Inc reported a loss for the fourth quarter on Tuesday, as trading volumes at the cryptocurrency exchange came under pressure from an industry-wide downturn triggered by a string of high-profile bankruptcies.


The company reported a net loss of $557 million in the three months ended Dec. 31, compared with a profit of $840 million a year earlier.


<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Bitcoin prices tumble as crypto market shocks weigh ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.