✔️Coinbase Announces Q4 Earnings, Reports $667 Million Loss 1️⃣ Short-Term Performance Worsens Coinbase recorded a net loss of $667 million in Q4. Switching from a $1.3 billion profit in the same period last year, it now reports a loss. • Revenue of $1.8 billion (-20%) • Losses on the valuation of coins held • Directly impacted by declining trading volume 2️⃣ Industry-Wide Downturn Bitcoin's price has fallen by approximately 50% from its peak, forcing restructuring across exchanges. • Gemini: Up to 25% staff reductions • Kraken: CFO resigns and revenue declines • Robinhood: Crypto revenue declines by 38% 3️⃣ Despite structural growth, Coinbase continues to improve its structure. However, overall, Coinbase appears to be continuing to improve its fundamentals. • Increased subscription and service revenue • Expanded market share • Expanded institutional clientele • 12 products with annual sales exceeding $100 million ✍️Exchanges are ultimately a volume-driven business, so when the market slows down, so do performance. I hope the market turns around in 2026🙏🏻