The end of Sam Bankman-Fried’s empire created a contagion effect especially felt by crypto exchanges, like publicly-traded Coinbase. In early January, the exchange settled with New York regulators who accused it of “significant” compliance program failings. 

Coinbase agreed to pay a $50 million dollar fine and set aside $50 million more to improve its compliance practices.

Ahead of its earnings report, CEO Brian Armstrong says Coinbase revenue will likely drop by half or more this year. And the picture may be equally dim for other global exchanges.

Crypto senior editors Philip Lagerkranser and Anna Irrera are joined by Bloomberg reporter Yueqi Yang to talk through the latest.

Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter

The end of Sam Bankman-Fried’s empire created a contagion effect especially felt by crypto exchanges, like publicly-traded Coinbase. In early January, the exchange <a href="https://www.cnbc.com/2023/01/04/coinbase-settles-with-new-york-financial-regulator-for-100-million.html">settled</a> with New York regulators who accused it of “significant” compliance program failings. 
Coinbase agreed to pay a $50 million dollar fine and set aside $50 million more to improve its compliance practices.
Ahead of its earnings report, CEO Brian Armstrong says Coinbase <a href="https://www.bloomberg.com/news/articles/2022-12-07/coinbase-crypto-ceo-brian-armstrong-sees-revenue-falling-by-half-in-2022">revenue will likely drop by half or more</a> this year. And the picture may be equally dim <a href="https://www.bloomberg.com/news/articles/2022-11-19/after-ftx-crypto-exchanges-struggle-to-convince-customers-they-re-safe">for other global exchanges</a>.
Crypto senior editors <a href="https://www.bloomberg.com/authors/AC6jpxwTIuU/philip-lagerkranser">Philip Lagerkranser</a> and <a href="https://www.bloomberg.com/authors/AV1n_B5JKYc/anna-irrera">Anna Irrera</a> are joined by Bloomberg reporter <a href="https://www.bloomberg.com/authors/ATR8IJSBVVw/yueqi-yang">Yueqi Yang</a> to talk through the latest.
Subscribe to the Bloomberg Crypto Newsletter at <a href="https://bloom.bg/cryptonewsletter">https://bloom.bg/cryptonewsletter</a>

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Bloomberg Crypto

Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. Bloomberg journalists will help cut through all the noise and provide clarity, context and authority.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. Bloomberg journalists will help cut through all the noise and provide clarity, context and authority. In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

What Will Coinbase’s Earnings Call Reveal?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/6c62a0b9-812e-4adf-9bc0-af94016a600a/transcript

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