Coinbase may have a savior in BlackRock, but crypto concerns remain
By Paul R. La Monica, CNN BusinessCrypto brokerage Coinbase has been hit hard by the meltdown in bitcoin prices this year. The stock has plunged 65% so far in 2023. And the company’s latest earnings, due out after the closing bell Tuesday, are likely to be miserable.Wall Street is forecasting a more than 50% drop in revenue from a year ago and expects that Coinbase will report a loss of about $585 million. The company posted a $1.6 billion profit in the second quarter of 2021.Still, some investors are hopeful the worst may soon be over.
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