Coinbase posts $670M net loss in Q4

Coinbase announced in its earnings report that total revenue for the fourth quarter of last year was $1.78 billion, a 20% decrease year-over-year. This figure fell short of the market expectation of $1.83 billion. The company also posted a net loss of $670 million, swinging to a loss. Meanwhile, Coinbase purchased $39 million worth of BTC during the same period.