In the report ($557M) doesn't mean "expenses". It's an overall loss.
A $557M loss means they spent all that $605M in revenue and another $557M on top of that.
>The loss is nearly as large as their entire revenue
Their initial claim is "Coinbase is piling up losses, it will eventually be bankrupt, and executives will have accumulated billions while customers will lose billions." And saying this is "stealing" from customers.
I haven't been advocating for purchasing the stock. I don't own it.
Regardless, looks like they had positive net income in 2020 & 2021. Coinbase isn't the only business dealing with losses 2022. I still very much disagree with "piling up losses... eventually be bankrupt"
It’s a good idea not to own a stock if you can’t read the income statement. Fortunately that kind of boring traditional finance stuff is not a problem in crypto.
Me: "I haven't been advocating for purchasing the stock. I don't own it."
You: "It’s a good idea not to own a stock if you can’t read the income statement."
I figured it out! It's your reading comprehension! I was wondering why I had to repeat myself so much in this thread, and why you had been trailing off on tangents away from each point you attempted to pivot around. While ignoring each of your previous statements.
Their previous statement was not clear:
>The loss is nearly as large as their entire revenue
Their initial claim is "Coinbase is piling up losses, it will eventually be bankrupt, and executives will have accumulated billions while customers will lose billions." And saying this is "stealing" from customers.
I haven't been advocating for purchasing the stock. I don't own it.
Regardless, looks like they had positive net income in 2020 & 2021. Coinbase isn't the only business dealing with losses 2022. I still very much disagree with "piling up losses... eventually be bankrupt"