Coinbase Global Inc. Chief Executive Officer Brian Armstrong has been publicly basking in the positive response to the cryptocurrency-trading platform’s Super Bowl TV commercial. The ad offering new users $15 in free Bitcoin was a marketing bonanza.
But while generating buzz is a good thing, getting attention for giving away money won’t fix the major problems with Coinbase’s business. And the crypto platform’s latest financial results suggest there is no turnaround in sight.
On Thursday, the company beat analysts’ revenue estimates for the three months ended in December — not too surprising as Bitcoin’s price reached a record high in November. But Coinbase also warned ...
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