USDC Stablecoin Interest Income Rebounds, Net Loss Posted, and Ongoing Battle with SEC
Highlights
- USDC Stablecoin Interest Income Rebounds, Net Loss Posted, and Ongoing Battle with SEC.
- Company’s revenue for the third quarter of 2023 was $674.1 million, a 14.2% increase from the same period last year.
- Despite the positive revenue figures, the company posted a net loss of $2 million for the quarter.
- The company remains optimistic about its future performance and expects to generate positive Adjusted EBITDA for the full year of the year 2023.
- It also faces regulatory challenges, including the SEC’s ongoing battle with the Securities and Exchange Commission.
- Despite these challenges, Coinbase remains focused on its mission to create an open financial system for the world.
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SEC Charges Crypto Company SafeMoon and its Executive Team for Fraud and Unregistered Offering of Crypto Securities