Episode 178: Coinbase Q1 Miss, Gucci Crypto Payments

Coinbase Global (COIN) reported first-quarter revenue that missed analyst estimates, while its overall trading volumes fell 44% from the fourth quarter. Revenue for the first quarter was $1.17 billion, compared with analysts' average estimate of $1.5 billion, according to FactSet. Coinbase also reported a quarterly net loss of $430 million, compared with a profit of $840 million in the fourth quarter. Trading volume was $309 billion in the first quarter, missing estimates for $331.2 billion and down from $547 billion in the fourth quarter. Monthly transacting users (MTUs) were 9.2 million, compared with 11.4 million in the fourth quarter and analyst estimates of 9.9 million. Instagram’s non-fungible token (NFT) pilot is the first play in a creator monetization strategy that’s still taking shape. Shortly after unveiling its “Digital Collectibles” product Monday, the Meta (FB)-owned social media platform signaled its interest in turning NFTs into a revenue stream for the creators catering to the platform's billion-plus user base. Figuring out how to leverage that base is to be determined. At launch, Instagram’s NFT pilot will merely allow a handful of creators to share their digital art on the platform – no sales, trading or fees involved. Gucci has rolled out the crypto payment mechanism at its flagship stores in the U.S., including Rodeo Drive in Los Angeles, Wooster Street in New York and in Las Vegas, with plans to expand the service to its directly operated North America stores in the near future. Various digital assets will be accepted including bitcoin, bitcoin cash, ether, wrapped bitcoin, dogecoin, shiba inu and certain kinds of stablecoins. 📚Books: https://www.amazon.com/s?k=reginald+seay&crid=XNP2FB40Q3TH&sprefix=reginald+seay%2Caps%2C232&ref=nb_sb_noss 📚 Course: https://market-marauders-complete-guides.teachable.com/p/the-complete-guide-to-cryptocurrency 📚Website: www.marketmarauders.net 🦩Twitter: @yourequest 😎Instagram: market_marauders 📧Email: [email protected] 🚧 DISCLAIMER🚧 I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read and/or view and/or hear on the channel.