Coinbase becomes the first crypto company to enter the Fortune 500 By Yogita_Khatri5
But this year so far hasn't been as rosy for Coinbase, with the companynet revenue of $1.16 billion and a net loss of $430 million for the first quarter. For comparison, Coinbase's net revenue for the fourth quarter of last year was $2.49 billion.
Amid the market slump, Coinbase's shares are trading near all-time lows at $66. They fell as low as $40 earlier this month, down 88% from their debut at over $328.the company will slow hiring in response to turbulent market conditions. Choi reassured that Coinbase is"in a strong position" and has a"solid balance sheet." She further said that Coinbase has been through several market downturns and has emerged stronger every time.
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