• Key insights: Coinbase’s earnings declined as the broader bitcoin market fell sharply in recent months. 
• What’s at stake: Investors are looking for signs that the cryptocurrency company can expand despite the market’s volatility. 
• Forward look: Coinbase is adding more products to its exchange and expanding its partnerships with traditional financial institutions. 

After Bitcoin’s value dropped from about $125,000 in October to just about $60,000 earlier this month, Coinbase’s shareholder letter included the following nugget.   

Processing Content

“Crypto is cyclical and experience tells us it’s never as good or as bad as it seems.” 

While broadly that might be true, the most recent cryptocurrency correction has weighed heavily on…