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Coinbase’s numbers aren’t surprising due to crypto winter, says CoinFlip’s CEO

Coinbase’s numbers aren’t surprising due to crypto winter, says CoinFlip’s CEO

Cryptocurrency exchange Coinbase recorded huge losses in the last quarter as the bear market…

The post Coinbase’s numbers aren’t surprising due to crypto winter, says CoinFlip’s CEO appeared first on CoinJournal.

Coinbase’s numbers aren’t surprising due to crypto winter, says CoinFlip’s CEO

Cryptocurrency exchange Coinbase recorded huge losses in the last quarter as the bear market continues to affect businesses in the crypto space.

Coinbase, one of the leading crypto exchanges in the world, reported its second-quarter earnings earlier this week. The exchange’s revenue declined by 61% in the last quarter as the prices of most cryptocurrencies slumped. 

The San Francisco-founded company reported an after-tax loss of $1.1bn, compared with the $1.6bn net profit it registered in the middle of the crypto boom last year. The company reported that $446 million of the loss reflected an impairment charge on its crypto and venture investments.

Coinbase’s Chief financial officer Alesia Haas however, commented that the company’s $6.2bn in available capital would enable it to keep investing through the downturn.

Ben Weiss, CEO and Co-founder of CoinFlip, shared his comments with Coinjournal regarding Coinbase’s latest earnings report. CoinFlip is a financial service and crypto platform and is one of the largest Bitcoin ATM operators in the United States.

Weiss said;

“Coinbase’s numbers aren’t surprising given the current economic climate and crypto winter. That being said, Coinbase is responding by imposing financial discipline and refocusing on its core products. Despite volume and revenue declining, Coinbase is still attracting a significant amount of users, which shows its staying power, brand recognition, and likely ability to capitalize when crypto prices recover. The shareholder letter shows management’s confidence in the future of crypto and the company’s commitment to continue building regardless of prices and short-term economic trends.”

Despite the poor performance, Weiss maintains that the decline in Coinbase’s stock is an overreaction, and the cryptocurrency exchange remains a household name in the crypto space. Weiss said;

“The crypto market has seen a lot of volatility, deleveraging, and downward pressure on crypto asset prices. This is obviously going to have a negative impact on the valuation of crypto companies, such as Coinbase. I feel that the market is conflating the performance of crypto assets with the companies in the crypto ecosystem, and therefore the reduction in Coinbase stock price is possibly an overcorrection. Coinbase is a leader in the space with strong brand recognition, and its business model is much more robust than some of the problematic business models we’ve been hearing about – such as centralized crypto lending companies.”

The bear market continues to affect the operations of numerous cryptocurrency businesses, with some of them filing for bankruptcy while others halted withdrawals on their platforms.

The post Coinbase’s numbers aren’t surprising due to crypto winter, says CoinFlip’s CEO appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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Crypto Casino of the Year BC.GAME Launches Its All-New Redesigned Website With Better Features

Willemstad, Curaçao, 4th October, 2022, Chainwire Today, BC.GAME announces the launch of its newly…

The post Crypto Casino of the Year BC.GAME Launches Its All-New Redesigned Website With Better Features appeared first on CoinJournal.

Willemstad, Curaçao, 4th October, 2022, Chainwire

Today, BC.GAME announces the launch of its newly redesigned website with more and better features for its players. This is one of the many efforts of BC.GAME in order to continue giving the best experience and satisfaction to its players around the world.

BC.GAME Introduces a Newly Redesigned Website

The main website showcases a new UI layout with a cleaner and slicker design compared to the old version. Players can also select different languages if they want to translate the descriptions written on the site. Languages such as Portuguese, Indonesian, Russian, Vietnamese, Korean, and Spanish are now available for players.

Recently, BC.GAME formed partnerships with two of the most recognized names in football and eSports—AFA and Cloud9. The new website features a dedicated page for sponsorships to keep the community updated about the latest events involving the casino’s partners.

Bold and Better Features for BC.GAME Players

As part of the new design, players will now be able to access helpful content—from game recommendations for each user, details of the game providers, and game descriptions.

Game interactions are now also available. Players can rate games, like, comment, share, and provide feedback on the games they play.

More security features are added, such as new additional Official Staff Verification page feature and an updated KYC feedback feature.

All players will have access to these bold and better features on the new BC.GAME website.

Chris, Chief Operating Officer at BC.GAME shares, “The iGaming industry moves fast. Keeping up with it is no small feat. As industry trailblazers, we pride ourselves on doing more than just staying ahead of the curve. Our goal is to create the curve. The only way to accomplish this is by keeping the communication channels with our community open. On behalf of the BC.GAME team, I would like to thank our loyal community for all the feedback and suggestions they have given by presenting this latest upgrade.”

About BC.GAME

BC.GAME is a community-based crypto casino that offers players the best online casino experience. Launched in 2017, BC.GAME is among the first casinos to support Lightning Network, not only revolutionizing the casino industry but also the blockchain space. With the recent addition of sports betting, users can enjoy more than 8,000 games, including sports, slots, live table games and even the famous Bitcoin (BTC) crash game. BC.GAME has won multiple industry awards, making it the Crypto Casino of the Year 2022. The platform accepts many leading cryptocurrencies and recently started accepting fiat payments.

Learn more: http://bc.game

Contact

PR, Issay Domingo, BC Game, [email protected]

The post Crypto Casino of the Year BC.GAME Launches Its All-New Redesigned Website With Better Features appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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