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.”



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