Coinbase CEO Brian Armstrong reassures investors amid crypto market slide and congressional tension. Coinbase reports $667 million net loss, $566 million adjusted EBITDA, and $1.7 billion net revenue. Stock rises 9% post-earnings. Quarterly trading volume at $215 billion, fees down 45%. Armstrong optimistic about regulatory clarity. Coinbase repurchases $1.7 billion in shares.

Armstrong’s comments follow a major slide in the crypto market, with Coinbase stock down over 50%. Since October peak, crypto assets lost $2 trillion in market capitalization. Coinbase repurchased $1.7 billion in shares. Quarterly trading volume at $215 billion, fees tumble over 45%, missing analyst projections. Fundstrat’s Sean Farrell says “Crypto is in no-man’s land.”

Coinbase CEO Brian Armstrong rejects bill merging crypto with mainstream finance, sparking congressional scrutiny. Big bank CEOs upset over bill delay. White House mediates standoff. Armstrong optimistic about bill passing. Stablecoin issue could make Coinbase more profitable. Other key crypto players making progress. Regulatory clarity expected in the next few months.

Read more at Yahoo Finance: Coinbase CEO Brian Armstrong ‘more bullish than ever’ as company navigates latest crypto downturn