Coinbase Global Inc’s revenue is expected to fall by half this year, according to a tweet from the cryptocurrency exchange on Wednesday, as digital assets suffer from a sector-wide slump exacerbated by a string of high-profile failures that have shaken investor confidence. In a tweet, the company said, “Chief Executive Officer Brian Armstrong indicated that he expects Coinbase FY2022 revenue to be less than half of FY2021 revenue.” Higher interest rates and exacerbating fears of an economic downturn slashed cryptocurrency prices, eliminating key players such as Voyager Digital, Three Arrows Capital, and Celsius Network.
