Coinbase Reports $667 Million Loss Amid Q4 Crypto Market Decline

In the fourth quarter, Coinbase reported a staggering loss of $667 million, largely attributed to the ongoing slump in the cryptocurrency market. This downturn has significantly impacted retail trading activities, which are crucial for the exchange's revenue generation.

Despite the challenges posed by the weak retail trading environment, Coinbase managed to leverage its institutional and subscription-based services to mitigate some of the financial blowback. These areas of the business have shown resilience and played a vital role in the company's overall performance during this turbulent period.