Coinbase Global is expected to report its seventh straight quarter of losses on Thursday. The good news for the company’s investors is the crypto market finally seems to be breaking out of its funk.
That’s wider than the second quarter’s per-share loss of 42 cents, but much better than the $2.43 per-share loss the company suffered in the third quarter of last year, when the crypto market crash was deepening. The good news for Coinbase and the broader industry is the low-volume, rangebound trading that has dominated the market for months might be going away. In October, the price of Bitcoin spiked 28% to $34,400 on speculation that the Securities and Exchange Commission might soon allow a spot Bitcoin exchange-traded fund to come to market.
Newsletter Sign-up Coinbase in September also launched “perpetual futures” for non-U.S. customers. Such futures allow investors to easily make leveraged bets on tokens.
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