COIN Stock Alert: Is Coinbase Going Bankrupt?

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COIN Stock Alert: Is Coinbase Going Bankrupt?

InvestorPlace2022-11-24

Shares of crypto exchange and wallet service Coinbase(COIN) struggled in recent sessions.The company is fighting off bankruptcy concerns amid a broader cryptocurrency meltdown.Past precedent may end ...

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gupzbajaj
·2022-11-24
Cool.. hope things get better
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gupzbajaj
·2022-11-24
Omg
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Echowhiskey
·2022-11-24
I surprise how these company go bankrupt. Don't they earns a lot from bitcoin and members transaction? Bit coin is still around 16k+/-. How did they End up bankrupt soon? Anyone can advise?
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Bull1973
·2022-11-24
Ok
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lil jer
·2022-11-24
Yikes
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DarkFate
·2022-11-24
Like
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- rachhy:
  ok
  2022-11-24
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Prosperity88
·2022-11-24
Wellll
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- Ignis:
  k
  2022-11-24
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bostonxsgp
·2022-11-24
oof
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The sentiment isn’t unfounded, based on rival platform FTX and its Chapter 11 bankruptcy. In the trailing five sessions prior to the Wednesday open, COIN stock dropped 18% in equity value.Fundamentally, Coinbase suffers from a two-pronged headwind. After soaring to a record revenue tally of $7.84 billion in 2021, the company encountered a radical paradigm shift this year. With the total market capitalization of all cryptos plunging approximately 62% on a year-to-date basis, Coinbase users saw little reason to expose their capital to such horrendous erosions.Strikingly, the company posted revenue of $590 million in the third quarter, down 55% against the year-ago period. As well, Coinbase posted a net loss of $545 million, a picture of extreme contrasts against net income of $406 million in Q3 2021.The second and more worrying headwind centers on what Bank of America called a“contagion risk” from the FTX bankruptcy. Although COIN stock may represent a different matter, BofA’s Jason Kupferberg stated, “[t]hatdoes not make them immune from the broader fallout within the crypto ecosystem.”To be fair, management declared several days ago that it’s not about to run out of cash. Therefore, a Coinbase bankruptcy might not materialize. As well, Wall Street legend Cathie Wood went on a buying spree of COIN stock, encouraging embattled optimists.Lingering Fears Still Cloud COIN StockWhile Coinbase may be doing everything right, it’s the binary emotions involved in the crypto space that has investors on edge regarding COIN stock. When it comes to crypto failures, protections may not exist.According to Investopedia, “[i]f a bank fails, the FDIC insures deposits. Investors should know that if their crypto exchange goes out of business, no government agency will make them whole.” Given the implosions of other blockchain-based enterprises, investors are likely in no mood to take chances. 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While it’s no guarantee, this fact alone probably won’t soothe the nerves of those with a heavy allocation in COIN stock.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9968549949,"gmtCreate":1669263897782,"gmtModify":1676538176384,"author":{"id":"3582203097187155","authorId":"3582203097187155","name":"gupzbajaj","avatar":"https://static.tigerbbs.com/b0441cdcbc87c9f271dee51139b52dff","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"3582203097187155","authorIdStr":"3582203097187155"},"htmlText":"Cool.. hope things get better","listText":"Cool.. hope things get better","text":"Cool.. hope things get better","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968549949","repostId":1141995230,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9968540764,"gmtCreate":1669263871758,"gmtModify":1676538176380,"author":{"id":"3582203097187155","authorId":"3582203097187155","name":"gupzbajaj","avatar":"https://static.tigerbbs.com/b0441cdcbc87c9f271dee51139b52dff","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"3582203097187155","authorIdStr":"3582203097187155"},"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968540764","repostId":1141995230,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9968525119,"gmtCreate":1669260604531,"gmtModify":1676538175873,"author":{"id":"3586927510697647","authorId":"3586927510697647","name":"Echowhiskey","avatar":"https://static.tigerbbs.com/094b10d09de8295aa44524e91fdc3efc","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":2,"crmLevelSwitch":1,"idStr":"3586927510697647","authorIdStr":"3586927510697647"},"htmlText":"I surprise how these company go bankrupt. Don't they earns a lot from bitcoin and members transaction? Bit coin is still around 16k+/-. How did they End up bankrupt soon? Anyone can advise?","listText":"I surprise how these company go bankrupt. Don't they earns a lot from bitcoin and members transaction? Bit coin is still around 16k+/-. How did they End up bankrupt soon? Anyone can advise?","text":"I surprise how these company go bankrupt. Don't they earns a lot from bitcoin and members transaction? Bit coin is still around 16k+/-. How did they End up bankrupt soon? Anyone can advise?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968525119","repostId":1141995230,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9968568990,"gmtCreate":1669258031310,"gmtModify":1676538175138,"author":{"id":"3584680402793671","authorId":"3584680402793671","name":"Bull1973","avatar":"https://static.tigerbbs.com/866d29bf88ff7363d121a5ccc6028aae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3584680402793671","authorIdStr":"3584680402793671"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968568990","repostId":1141995230,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9968563672,"gmtCreate":1669257741297,"gmtModify":1676538175075,"author":{"id":"4101430545345510","authorId":"4101430545345510","name":"lil 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