The market capitalization of US-based cryptocurrency exchange Coinbase has fallen by more than ten times after it was listed on Nasdaq. The value of the shares of the company was estimated at $34.97 yesterday, whereas they were valued at $381 when the company went public in April last year.
According to the results of the last trading session, they closed with a decrease of 0.57%, while the Nasdaq index is close to zero.
Coinbase CEO Brian Armstrong has previously said that the collapse of FTX has not affected the company.
He admitted last Dec. 8 that, against the backdrop of the crypto winter, the exchange’s income for the year would be halved relative to last year.
Coinbase posted a net loss of $545 million in Q3 2022, up from $1.1 billion in the previous period.