BREAKING DOWN COINBASE’S EARNINGS

Summary from the TLDR Crypto newsletter

Coinbase's Q3 performance beat expectations, but the markets were still not pleased with the results. It had a revenue decline that was attributed to a slow Q3 across the crypto industry. The growth story the Company focused on was Base, positioned to be the next Square or PayPal through peer-to-peer and merchant payments. Although trading volumes dropped, the company's international regulatory outlook improved in the quarter, giving it greater potential for growth. Nevertheless, the third consecutive quarter of declining revenue outweighed the positive elements of the release.