Coin shareholder letter and conference callI read this morning the Coin last quarter and year end financial results as well as a conference call on the results and forward predictions ,all to be found on thier website..Should be required reading for anyone interested in investing in this space as it gives a great overview on last years results and forward projections for 2022.
"high correlation between share price and Crypto prices"
"diversifying away from transactional revenues as a source of profit to other areas "
"Expenses 20% of transactional revenues".
They are investing for the long term future and have 7billlion plus in cash ,some borrowed before the recent rise in interest rates at low interest rates"
2022 is extremely difficult to predict in view of decline in Crypto prices ,preparing for worst case scenario of up to a "maximum loss of 500 million"which there cash reserves of 7 billion will be able to easily support ,2022 will be a year of investment for the future.
Most interesting though quite complex in areas of discussion about nfts ,and new products.
Gives a great overview of the crypto space from one of the biggest companies (its share price is down considerably from its ipo which happened on the day BTC/ETHE hit its peak).
Predicts that the downturn wont be as bad as prior BTC bear markets due to increasing diversity of the crypto space and more products(we will see if that prediction is correct).
Long term future is very bright (probably 2-3 yrs).