Coinbase exchange will announce its quarterly earnings report for the first time after the SEC lawsuit filed in June. While analysts’ expectations were negative on the basis of the figures, company shares started the day with a decline with the negative atmosphere.

COIN shares, which started the day with a $ 98 share opening, fell 10 percent and fell below $ 90. Although the share value fell to $ 50, especially after the SEC’s unregistered investment contract lawsuit, the $ 110 level was seen in July.

Coinbase’s Q2 earnings report will be released on August 3rd. CEO Brian Armstrong’s statements and especially profitability rates will be carefully monitored.

Coinbase’s Q4 figures for 2022 were very negative and the company posted a net loss of $557 million. In the first quarter of 2023, with the positive atmosphere brought by the rise in Bitcoin, the figure dropped to $ 79 million, although the loss was announced again.

Analysts expect the company’s quarterly volume to drop from $ 145 billion to about $ 90 billion.