Coinbase does not fear competition from Wall Street, says exchange executive
Key takeaways
- The company recently posted a loss of $1.49 per share, compared with analyst expectations for a $0.27 profit.
- They are here because they believe in this technology and want their governments to support it.”
- ‘Voters do care about crypto’Harries also spoke of the American voter.
The company recently posted a loss of $1.49 per share, compared with analyst expectations for a $0.27 profit. Also in the first week of May, Coinbase announced a 14% workforce reduction.
In a brief written interview regarding the Stand With Crypto (SWC) events on Friday, Harries said that the mobilization of people worldwide shows that the established crypto industry has a community behind it that no traditional financial institution can replicate.
“Millions of people around the world chose crypto because they believe in what it represents: open, accessible, peer-to-peer finance,” Harries said. “The people gathered today in London, Paris, New York, Sao Paulo and beyond are not here because a financial institution told them to be. They are here because they believe in this technology and want their governments to support it.”