On Tuesday’s earnings call, Coinbase CEO Brian Armstrong said, “Ironically… I’ve never been more bullish on where we are as a company.”
Coinbase stock also happens to be down ~60% in the last 5 days.
So what’s the deal?
- Generally, the crypto markets are feeling an extra icy-hot burn amid a broader market sell-off.
- As such, monthly transacting Coinbase users have fallen 51% to 6.1m quarter-over-quarter.
Armstrong admitted he’s anticipating a so-called “crypto winter” and plans on making use of his $7B balance sheet to get through it — by hiring talent and acquiring companies.
BTW: This might be a good time to bring back the “Liquidated” parody remix to Avril Lavigne’s “Complicated.”
Get the 5-minute roundup you’ll actually read in your inbox
Business and tech news in 5 minutes or less