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☆ Coinbase CFO Alesia Haas: Bitcoin ETFs unlocked a 'flywheel of engagement' in Q1
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase CFO Alesia Haas: Bitcoin ETFs unlocked a 'flywheel of engagement' in Q1Alesia Haas, Coinbase CFO, joins 'Closing Bell Overtime' to talk Q1 results, the strength of bitcoin and its impact on the quarter, platform investments and more.

Persons: Alesia Haas, Coinbase

Corporate executives at major companies have sold stock in their own companies in March as the stock market hits new record highs. Zuckerberg's moves appear to be part of a 10b5-1 stock sale plan adopted last summer. An even larger stock sale came from Michael Dell, the CEO and namesake of Dell Technologies . The tech founder has filed a Form 144 to sell 7 million shares, so more transactions could be coming, according to VerityData. Dell shares have soared more than 50% this year on optimism the AI boom will lead to a replenishment of servers and PCs.

Persons: Mark Zuckerberg, Michael Dell, Alesia Haas, Zuckerberg, Haas, Troendle, William Hickey III, James Walter, TechnipFMC, Douglas Pferdehirt, William Meaney Organizations: Facebook, Dell Technologies, Dell, Medpace Holdings Locations: —, 10b5

☆ Watch CNBC's full interview with Coinbase CFO Alesia Haas
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Coinbase CFO Alesia HaasAlesia Haas, Coinbase CFO, joins 'Closing Bell Overtime' to talk earnings, the state of crypto, the new sport bitcoin ETFs and more.

Persons: Alesia Haas Alesia Haas, Coinbase

☆ Coinbase CFO: Crypto prices climbing 'across the board', driven by momentum around bitcoin ETFs
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase CFO: Crypto prices climbing 'across the board', driven by momentum around bitcoin ETFsAlesia Haas, Coinbase CFO, joins 'Closing Bell Overtime' to talk earnings, the state of crypto, the new sport bitcoin ETFs and more.

Persons: Alesia Haas, Coinbase

☆ Coinbase beats on revenue and earnings, but usage continues to decline
▼ + stars: | 2023-02-21 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Coinbase reported user numbers that fell short of analysts' estimates even as fourth-quarter earnings and revenue beat projections. Loss of $2.46 per share, vs. loss of $2.55 per share as expected by analysts, according to Refinitiv. Revenue: $629 million, vs. $590 million as expected by analysts, according to Refinitiv. With crypto staking, investors typically vault their crypto assets with a blockchain validator, which verifies the accuracy of transactions on the blockchain. Haas added that staking was less than 3% of net revenue, so it was not material source of net revenue at this time — but an "important part of the ecosystem" that the platform plans to grow.

☆ Coinbase debtholders sweat as bonds trade near 50 cents on the dollar following FTX collapse
▼ + stars: | 2022-12-13 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Monitors display Coinbase signage during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Wednesday, April 14, 2021. For over a month, Coinbase notes set to mature in 2031 have been trading around 50 cents on the dollar, down from about 92 cents at the beginning of the year. The first tranche of bonds — $1.4 billion in convertible notes — don't mature until June 2026. But the company is projected by analysts to run up a $2.6 billion loss this year and another deficit of $1.4 billion in 2023, according to Refinitiv estimates. "The company is in a strong liquidity position, but at the same time they have to deal with a changing operating environment."

☆ Piper Sandler says Coinbase may capitalize on FTX bankruptcy, sees shares more than doubling
▼ + stars: | 2022-12-02 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

Piper Sandler is reaffirming its bullish outlook on Coinbase even amid chaos in the cryptocurrency space given the fallout at FTX. On the other hand, Robinhood reached profitability sooner than expected because of aggressive cost cutting, which Coinbase may want to consider, Repetto noted. Crypto winter contingency Still, signals point to the current crypto winter being near an ending point that could help boost Coinbase. "Using history as a guide and ignoring macroeconomic (interest rates), regulatory, geopolitical factors, we could be near a bottom in this crypto winter," said Repetto. And, if the crypto winter is not over soon, Piper Sandler noted that Coinbase CFO Alesia Haas said the company has contingency plans in place to weather the storm.

☆ Grayscale refuses to share proof of reserves due to 'security concerns' as shares trade at a 45% discount to bitcoin
▼ + stars: | 2022-11-21 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Grayscale, the asset manager running the world's largest bitcoin fund, said in a statement that it won't share its proof of reserves with customers. Grayscale's flagship fund is the Grayscale Bitcoin Trust, known by its GBTC ticker. The firm pointed to a letter sent by Coinbase CFO Alesia Haas on Nov. 18, which breaks down an accounting of the tokens held at Coinbase Custody. In a tweet, the firm added that the "laws, regulations, and documents that define Grayscale's digital asset products prohibit the digital assets underlying the products from being lent, borrowed, or otherwise encumbered." Barry Silbert's Digital Currency Group is the parent company of Grayscale, Genesis, and CoinDesk.

☆ Bank of America downgrades Coinbase, says FTX collapse raises 'contagion risk' for crypto platform
▼ + stars: | 2022-11-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Bank of America says the collapse of FTX is clouding the outlook for Coinbase . Analyst Jason Kupferberg downgraded shares of Coinbase to neutral from buy, citing "contagion risk" for the cryptocurrency exchange platform, even if it is not "another FTX." "We think Coinbase (COIN) likely faces a number of new headwinds over the near/medium-term due to the recent collapse of rival crypto exchange FTX," Kupferberg wrote in a Friday note. However, diminished confidence in the crypto ecosystem (especially among retail crypto users) is likely to dampen overall trading activity," read the note. Finally, the analyst expects that it will take more time for crypto traders to fully understand the implication of the FTX collapse, which could further drag on other cryptocurrencies for the foreseeable future.

☆ Coinbase gets hit with a downgrade from BofA as the FTX implosion brings more pain to crypto markets
▼ + stars: | 2022-11-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Coinbase is "not another FTX" according to Bank of America, but that doesn't mean it's immune from the crypto fallout. The bank downgraded Coinbase to "Neutral" and lowered its price target to $50 from $77 in a Friday note. BofA listed three headwinds that Coinbase has to deal with in the aftermath of the FTX implosion. That's why the bank downgraded Coinbase to "Neutral" from "Buy" in a Friday note and lowered its price target to $50 from $77. These are the three headwinds Coinbase will have to deal with in the aftermath of the FTX bankruptcy, according to BofA.

☆ Coinbase CFO says full contagion impact of FTX collapse still to show - WSJ
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

"What we are seeing now is a fallout of FTX is becoming much more like the 2008 financial crisis where it's exposing poor credit practices and is exposing poor risk management," Haas told the WSJ in an interview. It will take a few days or weeks to understand the full contagion of the event, Haas added. The collapse has fanned fears about the future of the crypto industry after FTX outlined a "severe liquidity crisis". "We're gonna see a drive towards regulation both in the U.S. and globally," Haas told the Journal. Coinbase, which many believe is poised to gain market share from FTX's collapse, recently underwent a second round of job cuts this year.

Jordan Vonderhaar | Bloomberg | Getty Imageswatch nowSaylor was speaking on CNBC's "Squawk on the Street" as FTX's demise roiled the crypto market. Bitcoin tumbled 19% in December, as investors rotated into assets deemed safer in a tumultuous economy. David Marcus, former head of crypto at Facebook parent Meta , used a phrase that would soon enter the lexicon. "It's during crypto winters that the best entrepreneurs build the better companies," Marcus wrote in a Jan. 24 tweet. Ryan Gilbert, founder of fintech venture firm Launchpad Capital, said the crypto world is facing a crisis of confidence after the FTX implosion.

☆ Coinbase pacifies investors worried about credit risk, exposure to FTX token - blog
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - Cryptocurrency exchange Coinbase Global Inc (COIN.O) assured investors of minimal exposure to privately-held rival FTX after concerns about the latter's financials dragged its digital coin FTT to its lowest since early 2021. "Coinbase and our customers are not in any direct danger of liquidity or credit risk," chief financial officer Alesia Haas wrote in a blog on Tuesday. "Regardless of whether the Binance/FTX transaction completes, we have very little exposure to FTX and we have no exposure to its token, FTT." FTX came into pressure when Changpeng Zhao, head of rival exchange Binance - the world's largest - said on Sunday his firm would liquidate its holdings of the FTX token due to unspecified "recent revelations". Amid talk of pressure on FTX's financials, FTT lost one-third of its value and dragged down other major digital assets.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther jumps 7% in a week, and Coinbase's CFO breaks down the firm's Q3 earnings: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Alesia Haas, chief financial officer at Coinbase, breaks down the company's Q3 earnings and its plans to withstand the crypto bear market.

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