Coinbase transaction revenue fell 44% in Q3 as fewer users were active on the crypto exchange, though the CEO was bullish about one aspect in the future.
It also blamed the numbers on an increasing amount of retail customers holding, while advanced traders have been using other platforms with more complex products amid the bear market.
“I think there's an opportunity at some point for the crypto prices to potentially decouple from the broader macro environment. And we don't know if that's gonna happen, but I think it's one of the possibilities and regulatory clarity is one of the things that could help kick that off.” Haas responded by saying that it wasn’t their primary focus, and they are looking to continue investing for growth throughout the cycle while minimizing losses, adding:
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