Coinbase CEO Says Exchange Is Cutting Costs, Focusing on Subscriptions

From decrypt.co

Badly battered by the crypto bear market, Coinbase is cutting costs and shifting its revenue model, says CEO Brian Armstrong. In Q2 of this year, Coinbase saw a 60% drop in revenue and reported a $1.1 billion net loss. In an interview with CNBC published Tuesday, Armstrong reflected on the crypto exchange’s decade-long history and plans for the future. One big takeaway? Armstrong wants to move away from trading fees as its main source of revenue, explaining that while such fees bring in revenue during bull markets, that cashflow dries up when bearish sentiment takes hold. “We’re investing today so much in ... (full story)