Later today Coinbase, the American crypto giant will report its fourth-quarter and full-year 2022 results. Given continued turbulence in the cryptocurrency market, and a rough doubling in the value of Coinbase’s stock since the December timeframe, has long awaited this particular set of data.
While Coinbase is no longer a startup, it is a goliath in one of the largest web3 markets. That means its results will help us understand the American crypto market more generally, both in terms of the company’s historical results through the end of last year (how things went), and how the company details its expectations for this year to the investing public (what’s ahead).
Investors have recently taken a shine to Coinbase shares after bidding their value down sharply in 2022; after trading to the low $30s last December, the company’s stock has recovered to the mid-$60s today. That’s a comeback worth billions in market cap. Startups might view the recovery in Coinbase’s worth a positive harbinger for their own value. We’ll see.
The Exchange explores startups, markets and money.
Read it every morning on + or get The Exchange newsletter every Saturday.