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Coinbase Saw 66% Decline in Transaction Revenue in 2022 but Remained “Resilient”

Coinbase said that it saw its total trading volume for 2022 decline by 50% year-over-year. It also saw its transaction revenue for 2022 fall by 66% by the same metric.

The company said that it nevertheless remained “resilient … despite major shocks to the system.” Coinbase attributed its decline in performance to two high-profile collapses: that of Luna and Terra in May 2022 and that of FTX in November 2022. These events caused the crypto market to lose 64% of its value, in turn affecting Coinbase’s own revenue.

The company’s net full-year revenue (which includes more than just its transaction revenue) fell from $7.4 billion in 2021 to $3.1 billion in 2022.

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Euro-Backed Stablecoin, Euro Coin Set to Trade on Coinbase

Coinbase CFO Doesn’t Rule Out More Layoffs to Improve Financials

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