S&P Global Knocks Down Coinbase Credit Rating After Exchange Posts $1.1 Billion Net Loss in Q2: Report

Ratings agency S&P Global has reportedly knocked down the credit rating of Coinbase (COIN) after the crypto exchange revealed its financials for the second quarter of this year. According to Seeking Alpha, the S&P downgraded Coinbase’s credit rating largely due to its weak performance from April to June 2022. In a letter to shareholders last week, Coinbase revealed that it suffered a net loss of $1.1 billion during the period, which includes non-cash impairment charges that the company suffered when the value of its crypto and venture investments dropped. As…

Comment Gagner de l'argent gratuitement sur Coinbase

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Coinbase posts $1.1B loss, Polygon dApps rocket 400% in 2022 and Elon Musk says inflation is on the decline: Hodler’s Digest, Aug 7-13

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week   Elon Musk: US ’past peak inflation’ after Tesla sells 90% of Bitcoin With Tesla now having sold 90% of its Bitcoin holdings during the bear market, Elon Musk says the U.S. economy is “past peak inflation” and predicts that only a “mild to moderate” recession…

#1071 BlackRock goes Crypto with Coinbase, Solana Wallet Hack aufgeklärt & Portugal Crypto Ende

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Werde Kanalmitglied, erhalte Einblicke hinter die Kulissen und spezielle monatliche Livestreams – BlackRock to Offer Crypto for Institutional Investors Through Coinbase Prime Solana Wallet Hack aufgeklärt – Das muss man jetzt beachten Portuguese Banks Close Accounts of Crypto Exchanges, Media Reveals 📱Mein Telegram-Kanal für exklusive Infos 📸Mein Instagram für Einblicke hinter die Kulissen ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Market fraud and skepticism fuel crash of cryptocurrency

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The cryptocurrency market has lost about 70% of its value in the past 8 months. CBS News tech reporter Dan Patterson breaks down how fraud is damaging the appeal of crypto. He also spoke with actor Ben McKenzie, who is co-writing a book about crypto, about why people should be skeptical before investing in the digital currency. #News #Crypto CBS News Streaming Network is the premier 24/7 anchored streaming news service from CBS News and Stations, available free to everyone with access…

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S&P Global downgrades Coinbase credit rating for weak Q2 earnings, competitive pressures

Major American cryptocurrency exchange Coinbase saw its long-term issuer credit rating downgraded from BB+ to BB status by rating agency S&P Global following its latest earnings report this year. The agency confirmed the downgrade in a note on Thursday, pointing toward Coinbase’s weaker performance in the second quarter of 2022 as a driving factor. Intensified competitive risk in the cryptocurrency exchange sector was also highlighted, with Coinbase losing market share to competitors this year. “The negative outlook reflects uncertainties about the duration of the crypto market downturn and the company’s…

Institutional staking won’t take off unless asset lock-up solved: Coinbase CFO

Institutional staking of crypto assets, including the post-Merge Ethereum, could become a “phenomenon” in the future, but not while their assets still need to be “locked up.” Speaking during a Q2 earnings call on Aug. 9, Chief Financial Officer (CFO) Alesia Haas noted that she didn’t expect their new exclusive institutional staking service, rolled out in Q2, to be a “near-term phenomenon” until a “truly liquid staking option” is available. “This is the first time we had the products available. Previously, the way that institutions could have access to staking…

Coinbase Outlook ‘Negative,’ Credit Ratings Agency S&P Global Says

“Competitive risk has intensified in the crypto exchange sector, with the company’s market share decreasing this year,” S&P Global wrote. “We believe that as a result of market share erosion and a higher risk of margin compression, cyclical variations (peak-to-trough changes in revenue, EBITDA, and EBITDA margin) for Coinbase have exceeded our previous expectations, leading us to revise our assessment of financial risk.” Source