Last year’s epic crypto bull run helped crypto companies thrive, many beyond expectations. However, the current landscape is entrenched in a sluggish territory, a trend that has translated into figures for the prominent digital asset management firm, CoinShares, which announced the interim results for the first quarter of 2022., the firm’s total revenue during the first three months of 2022 has shrunk to £27.96 million from the previous year’s £39.91 million , a decrease of 42%.
CoinShares’ total comprehensive income took a hit from £32.1 million in the same quarter last year to £20.2 million in Q1 2022.