Coinbase’s difficult Q1 results complicate market for crypto startups

Earlier this week, TechCrunch’s Equity podcast noted the chaotic price movements of crypto assets and predicted Coinbase’s earnings later this week could either smoothen or further complicate the path forward for startups in the web3 ecosystem. If Coinbase reported strong numbers, it could calm some concern about another crypto winter, the logic went.
That didn’t happen.
Last night, Coinbase’s first-quarter earnings report sent its already-depressed stock plummeting, causing the former public-market darling’s shares to fall further beneath the $100 per-share mark.

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