Alesia Haas News

exchange Coinbase Global Inc posted a smaller-than-feared loss in the first quarter, benefiting from cost cuts and diversification of revenue sources, sending its shares up 7% in extended trading on Thursday. The company has benefited from its deal for One River Digital Asset Management to ramp up product offerings in subscription and services revenue, while it also launched wallet-as-a-service and other products to scale blockchain. «We're also seeing the benefits of increased cost efficiencies, and we've taken deep lessons from growing too quickly and believe that we are going to be prudent in our spend going forward,» Chief Financial Officer Alesia Haas said.Coinbase posted a loss of 34 cents a share, while analysts estimated a loss of $1.35 as investors tiptoe back to the speculative asset class to hedge against elevated market risks after a brutal selloff last year.

Kristalina Georgieva, managing director of the International Monetary Fund (IMF), does not see cryptos anywhere near the Dollar in stature.

Coinbase is launching its Ethereum (ETH) layer-2 scaling solution Base, which could help reverse the company's streak of six consecutive quarters of losses.

Coinbase Global beat second-quarter revenue expectations on Thursday on higher interest income while its executives said the crypto exchange expects to win its legal battle with the U.S. securities regulator. The company and its rival Binance were sued by the U.S.

According to a June 15 announcement, cryptocurrency exchange Coinbase has entered into an agreement for the redemption of $64.5 million in 0.50% Convertible Senior Notes due 2026. However, the company estimates it will only need $45.5 million in cash to consummate the agreement due to the notes' 29% discount to par value. Coinbase wrote: 

A Coinbase shareholder has filed a lawsuit against the crypto exchange’s nine executives and board members. 

Crypto exchange Coinbase saw a huge fall in its transaction revenues in the third quarter after activity fell amid a broader market downturn, but managed to cut its losses in half compared to the prior quarter.

Coinbases results came amid a sell-off of speculative assets from stocks to crypto across global markets.

Roger Bartlett, a Goldman Sachs veteran who has held various positions at the firm since 2005, announced he would be moving to Coinbase.

Coinbase Wallet, an in-house wallet service offered by prominent crypto exchange Coinbase, has rolled out browser extension support for Ledger hardware wallets.

Crypto exchange Coinbase has filed for a political action committee reportedly to support "crypto-forward lawmakers" ahead of the 2022 midterm elections in the United States.

The adoption curve of crypto starts with bitcoin (BTC), before moving to ethereum (ETH), decentralized finance (DeFi) and other cryptoassets, the US-based crypto exchange Coinbase said in an earnings call this week. They also noted that the current market cycle “feels less speculative” than past cycles, with real use cases coming into focus.