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Ethereum
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$1,915.85 3.97371
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BNB
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$610.47 0.88186
BNB price
Solana
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$128.07 1.50177
Solana price
XRP
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$2.15 1.61618
XRP price
Shiba Inu
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$0.0000129 3.09138
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Pepe
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$0.0000078 7.8037
Pepe price
Bonk
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$0.000012 6.78595
Bonk price
dogwifhat
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$0.430216 0.25656
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Popcat
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Bitcoin
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$85,049.00 1.98053
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Ethereum
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BNB
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$610.47 0.88186
BNB price
Solana
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$128.07 1.50177
Solana price
XRP
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$2.15 1.61618
XRP price
Shiba Inu
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$0.0000129 3.09138
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Pepe
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$0.0000078 7.8037
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Bonk
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$0.000012 6.78595
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dogwifhat
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$0.430216 0.25656
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Popcat
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$0.196086 4.07828
Popcat price
Bitcoin
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$85,049.00 1.98053
Bitcoin price
Ethereum
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$1,915.85 3.97371
Ethereum price
BNB
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$610.47 0.88186
BNB price
Solana
Solana (SOL)
$128.07 1.50177
Solana price
XRP
XRP (XRP)
$2.15 1.61618
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000129 3.09138
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000078 7.8037
Pepe price
Bonk
Bonk (BONK)
$0.000012 6.78595
Bonk price
dogwifhat
dogwifhat (WIF)
$0.430216 0.25656
dogwifhat price
Popcat
Popcat (POPCAT)
$0.196086 4.07828
Popcat price

Coinbase shares hit all-time low amid projected revenue drop

Yana Khlebnikova
Edited by
News
Coinbase shares hit all-time low amid projected revenue drop

Shares of Coinbase, a US-based crypto platform trading on Nasdaq under ticker COIN, reached an all-time low of $40.2 amid Brian Armstrong’s projection of a revenue drop.

Last week, CEO Brian Armstrong said he anticipated Coinbase 2022 earnings to be lower than half the 2021 revenue. The market reacted in a drop that led to an all-time low on Dec. 12.

Coinbase shares hit all-time low amid projected revenue drop - 1
Coinbase shares price history. Source: Google Finance.

The price lost 60% since August when Coinbase stock saw a brief surge after announcing a collaboration with BlackRock. The latter partnered with Coinbase Prime to provide institutional investors with access to BTC custody and trading via its Aladdin platform. 

Coinbase shares lost 86% since its IPO in April 2021. It has been among the companies forced to lay off staff this year, losing around 18% of personnel along with OpenSea (21%) and Kraken (32%).  

Ark Invest acquires Coinbase shares despite the bear market

However, Ark Invest, led by Cathie Wood, appears keen to catch knives amidst the commotion as a crypto-bullish company. The technology-oriented money manager purchased 78,962 COIN shares at around $40 each, worth around $3 million in total.

Following the purchase, Ark Invest’s stake in Coinbase comprised 5.6 million shares held by it.